TCFD 2022 Report Finds Steady Increase in Climate-Related Financial Disclosures Since 2017
The TCFD has released its 2022 Status Report. This report is the 5th yearly report released by the TCFD since their recommendations in 2017 and assesses developments over the previous 5 years. This includes the state of climate-related disclosure, TCFD implementation, and opportunities for the future.
The assessment reviewed reports of over 1400 companies in 5 regions and eight industries to better understand climate-related financial disclosure practices and their evolution.
The percentage of companies disclosing TCFD-aligned information and recommendations increased each year since 2017.
The number of required disclosures has steadily increased each year for the past five years, and while 80% of companies disclosed according to at least one TCFD-recommended requirement in the fiscal year 2021 reporting period; only 43 percent confirmed with at least 5 disclosures. These levels fall short of what is considered optimal – eleven recommended disclosure items per company.
The number of companies that disclose their climate-related risks or opportunities has increased 26 percentage points over the last year. Furthermore, 60% percent do so now in 2021 fiscal reports as opposed to just 27%.
You can find more information relating to the TCFD 2022 Status Report below:
Report download: https://www.fsb-tcfd.org/publications/