Task Force on Climate-Related Financial Disclosures (TCFD)

Categories: ESG, Sustainability, USA
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About Course

The Task Force on Climate-Related Financial Disclosures (TCFD) is a voluntary, industry-led initiative established to develop a set of recommendations for disclosing climate-related financial risks and opportunities. The TCFD was created in December 2015 by the Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system.

The primary goal of TCFD is to encourage companies to provide more consistent and comprehensive information to investors, lenders, insurers, and other stakeholders about the financial implications of climate change on their business. The TCFD framework focuses on four core elements:

  1. Governance: Describing the organization’s governance structure as it relates to climate-related risks and opportunities.
  2. Strategy: Disclosing the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning.
  3. Risk Management: Describing the processes used by the organization to identify, assess, and manage climate-related risks.
  4. Metrics and Targets: Providing information on the metrics and targets used to assess and manage relevant climate-related risks and opportunities.

By implementing the TCFD recommendations, companies aim to enhance their transparency and enable investors to make more informed decisions regarding climate-related risks in their investment portfolios. Additionally, TCFD-aligned disclosures can contribute to a better understanding of how companies are positioning themselves in the transition to a low-carbon economy.

The TCFD recommendations are supported by a broad range of stakeholders, including financial institutions, companies, and governments. Many financial regulators and organizations around the world have expressed support for TCFD, and some are considering or have already adopted policies requiring or encouraging companies to disclose in line with TCFD recommendations.

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What Will You Learn?

  • The Task Force on Climate-Related Financial Disclosures (TCFD) training typically covers a range of topics related to climate-related financial disclosures, helping individuals and organizations understand and implement the TCFD recommendations. Here are some key areas that are commonly covered in TCFD training:
  • Introduction to TCFD Framework:
  • Understanding the purpose and background of the TCFD.
  • Overview of the TCFD recommendations and their structure.
  • Governance and Strategy:
  • Exploring how climate-related issues are integrated into governance structures.
  • Assessing the organization's strategy regarding climate-related risks and opportunities.
  • Risk Management:
  • Identifying and assessing climate-related risks and their potential financial impacts.
  • Strategies for managing and mitigating climate-related risks.
  • Metrics and Targets:
  • Determining relevant metrics for assessing and reporting climate-related impacts.
  • Setting and disclosing targets related to climate change mitigation and adaptation.
  • Scenario Analysis:
  • Understanding the importance of scenario analysis in assessing climate-related risks and opportunities.
  • Developing and conducting scenario analysis exercises.
  • Integration into Financial Reporting:
  • Learning how to integrate climate-related financial information into existing financial reporting processes.
  • Understanding the linkage between financial and non-financial reporting.
  • Disclosure and Communication:
  • Guidelines for effective communication of climate-related financial information to stakeholders.
  • Best practices for transparent and clear reporting.
  • Case Studies and Examples:
  • Examining real-world examples of organizations implementing TCFD recommendations.
  • Learning from successful TCFD disclosures across various industries.
  • Legal and Regulatory Considerations:
  • Understanding the legal and regulatory landscape related to climate-related financial disclosures.
  • Ensuring compliance with relevant reporting requirements.
  • Practical Implementation:
  • Practical guidance on implementing the TCFD recommendations within an organization.
  • Hands-on exercises and workshops to apply TCFD principles to real-world scenarios.
  • The training is designed to provide participants with the knowledge and skills needed to effectively implement the TCFD recommendations within their organizations, fostering transparency and informed decision-making regarding climate-related financial risks and opportunities. It's important to note that TCFD training may evolve over time as the framework and best practices develop in response to the dynamic nature of climate-related financial disclosure.

Course Content

Module 1 – Introduction

  • Introduction
    01:45
  • Benefits of TCFD Framework
    00:00
  • Understanding the Objectives of TCFD
    02:58
  • Challenges & Implementation of TCFD
    00:00

Module 2 – Framework, step-by-step guide

Module 3 – Principles, Evaluating Climate Scenarios

Module 4 – Themes, Case study, Key takeaways

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