Established by the Financial Stability Board in 2015, the Task Force on Climate-related Financial Disclosures (TCFD) has emerged as a key player in driving the integration of climate-related risks into financial decision-making. The primary aim of TCFD is to develop recommendations for more effective climate-related disclosures that promote more informed investment, credit, and insurance underwriting decisions.
TCFD’s disclosure framework centers on the concept that climate change poses serious risks to global financial markets and organizations. By providing investors and the market with clear, comparable information about these risks, the TCFD aims to ensure the financial system is resilient to these changes.
The TCFD's recommendations are structured around four thematic areas that represent core elements of how organizations operate:
The recommendations are designed to be adoptable by all organizations, to be included in financial filings, to be sector-specific where appropriate, and to promote forward-looking risk management strategies and metrics.
For businesses striving to align their reporting with the TCFD recommendations, Discloser offers an advanced, collaborative platform that simplifies and accelerates the disclosure process. Here’s how Discloser is reshaping TCFD reporting:
At Discloser, we believe in the power of collaboration. Our platform facilitates seamless team efforts on TCFD report creation, eliminating the siloed work approach and improving the overall quality of your reports. Real-time updates ensure everyone stays aligned, fostering efficient report development.
Collecting data from diverse sources can be a daunting task. Discloser transforms this process with a system for automated data collection from various internal sources and suppliers. This ensures data reliability, mitigates reporting errors, and saves considerable time and effort.
Leveraging advanced AI technology, Discloser simplifies the report drafting process. Based on the data collected, our AI tool auto-generates preliminary drafts for your TCFD reports. This not only speeds up the drafting process but also allows your team to focus more on refining the report and less on manual drafting.
Discloser is designed to support comprehensive adherence to TCFD standards. The platform guides you through the recommendations related to Governance, Strategy, Risk Management, and Metrics and Targets, ensuring your report aligns with all TCFD requirements. Moreover, Discloser is constantly updated to reflect any changes in TCFD standards, ensuring your reporting practices stay current and compliant.
The path to a complete TCFD report can seem challenging. Discloser breaks down this process into manageable steps, offering clear guidance and support throughout. Regardless of your familiarity with TCFD reporting, Discloser is poised to make your reporting process smoother, more efficient, and ultimately more successful.