The number of companies and organisations supporting the Task Force on Climate-related Financial Disclosures (TCFD) has risen by more than half since last September.
In a status report published this week, the TCFD said its supporters had increased from 513 to 785, and include 374 financial firms managing nearly $118trn (£93trn) in assets.
However, companies reported that they were still finding it difficult to disclose scenario analysis, and complained that they lack standardised metrics and targets.
And investors said they need more clarity on the impact of climate-related issues in order to make the disclosures more useful.
"Companies are early in the process of using scenarios internally, evolving their approaches, and learning how to integrate scenarios into corporate strategy formulation processes," the TCFD said.
"The Task Force is considering developing guidance around how to introduce and conduct scenario analysis, and identifying business-relevant and accessible climate-related scenarios."
A separate review of 1,100 large companies using artificial intelligence found that the average number of TCFD-recommended disclosures has risen by 29% since 2016.
At the same time, the percentage of companies that disclosed information aligned with at least one of the Task Force's recommendations grew from 70% to 78%.
And a survey of 485 stakeholders found that 91% of disclosing firms had decided to "fully" or "partially" implement the TCFD recommendations, with 67% planning to within three years.
Moreover, 76% of the respondents that use the information said that climate-related financial disclosures are supporting their decision-making process.
"We see extensive and mounting evidence that the physical and transition effects of the climate crisis are real," said Mary Schapiro, special advisor to the TCFD chair.
"A company that communicates its climate resiliency to its investors will have a competitive advantage over those that don't."
Businesses can express their support for the TCFD here and learn more about implementation here.
