The Task Force on Climate-related Financial Disclosures (TCFD) has today launched an online platform providing guidance for businesses looking to report accurate climate risks to investors.
The TCFD Knowledge Hub is the first website to supply useful information on climate-related disclosures in line with the recommendations of the task force published last year.
This includes 300 resources covering risk management, governance, strategy and metrics/targets, with the Climate Disclosure Standards Board (CDSB) responsible for operating the platform.
"The hub is designed to help organisations just starting to work on the recommendations, as well as those already on the journey that need insightful resources," CDSB managing director, Simon Messenger, said.
"We expect to see organisations continue to develop new resources and provide examples of how to integrate climate-related information into enhanced reporting practices."
More than 274 companies with a combined market capitalisation of over $7.1trn (£5.2trn) have publicly expressed their support for the TCFD recommendations to date.
These were designed to help businesses report consistent, comparable, and reliable climate-related information to investors and lenders, supporting a smooth transition to a low-carbon economy.
It is hoped that the hub will lead to more businesses giving their support, with the website also acting as a peer-to-peer learning platform for firms to share experiences with others.
This will be updated in the coming months with company case studies showcasing the first preparers piloting the TCFD recommendations, as well as upcoming events and additional videos.
"With more companies providing case studies and best practices, others will follow suit," TCFD chair, Mary Shapiro, said.
"The hub will make it easier for companies to take the steps necessary to provide transparency to the capital markets about how the company identifies, measures, manages and mitigates climate-related financial risk."
Interested parties can submit materials to the TCFD Knowledge Hub via [email protected]
