August 1, 2017
Climate-Related Corporate Risk Disclosures
How Are Companies Responding to Climate-Related Risk Disclosure?
The Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) created a global framework to help investors, lenders, and insurers understand material climate risks and opportunities. As companies adapt to these expectations, new surveys and reports reveal both progress and challenges in implementing consistent climate-risk disclosure.
Key Findings
The TCFD’s recommendations provide a voluntary but widely influential framework for consistent climate-risk reporting across industries.
A survey by DFIN and The Society for Corporate Governance highlights varied readiness among U.S. companies, including board-level engagement, framework adoption, and investor pressure.
Early adopters share lessons on overcoming challenges in implementing climate-risk disclosure, offering practical steps for companies at different stages.
Summary
The movement toward climate-related financial disclosure reflects growing recognition of climate change as a material financial risk. Companies are increasingly expected to measure, manage, and communicate climate-related impacts in a transparent way that informs investors, regulators, and stakeholders. Research from G&A and partners shows that while adoption is uneven, momentum is accelerating, with boardrooms and investors pressing for action.
What You’ll Learn
This resource guide provides background on the TCFD’s origins, goals, and global significance, as well as insights from surveys of corporate governance professionals on the state of climate-risk disclosure. You’ll gain an understanding of how companies are aligning with TCFD recommendations, the obstacles they face, and the practical steps early adopters have taken. With case perspectives from leaders at Citi, Chevron, and Microsoft, the guide highlights how climate-risk disclosure is evolving—and what it means for companies preparing to meet investor and stakeholder expectations.
From Our Partners at DFIN Solutions
From our partners at DFIN Solutions, in collaboration with The Society for Corporate Governance, the report “The State of Climate Risk Disclosure: A Survey of US Companies” examines how corporations are evolving in their climate-risk disclosure practices and readiness. Building on earlier work, the survey benchmarks company actions across risk types, board engagement, use of reporting frameworks, investor queries, implementation of TCFD recommendations, and disclosure challenges. It offers practical steps and insights from early adopters, with perspectives from leaders at Citi, Chevron, and Microsoft, making it a valuable resource for governance professionals, sustainability leaders, and executives navigating climate-risk reporting.
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