The Task Force on Climate related Financial Disclosures (TCFD) will make carbon reporting mandatory for your UK business. We are here to help.
In 2017, the Task Force on Climate-related Financial Disclosures (TCFD) released a number of recommendations on climate-related financial disclosures to provide financial markets with clear, comprehensive and high-quality information on the impact of climate change.
The information helps investors gain an understanding of how reporting organisations think about and assess climate-related risks and opportunities. Moreover, it provides guidance to assist all businesses in developing climate-related financial information that is consistent with the recommended disclosures.
From April 2022 onwards, TCFD reporting will become mandatory for around 480 premium listed companies and more than 1,500 UK registered companies with more than 500 employees and more than £500m in annual turnover.
Organisations affected by that mandate will be required to list in their annual report whether their disclosures are consistent with the recommendations of the TCFD.
The TCFD has developed 4 recommendations on climate-related financial disclosures that are applicable to organisations across a range of sectors:
Disclose the board’s and management’s role in assessing and managing climate-related risks and opportunities
Disclose the actual and potential impact of climate-related risks and opportunities for the organisation
Disclose how climate-related risks get identified, assessed, and managed by the organisation
Disclose the metrics and targets that are used to assess and manage relevant climate-related risks
Premium Listed Companies.
Standard Listed Companies.
Traded companies with >500 employees or Public Interest
UK registered Co. and LLPs with >500 employees and a turnover of >£500m.
UK registered Co. with securities admitted to AIM (>500 employees).