Challenges, ‘beauty’ of TCFD disclosed after bank pilot (Sustainabonds)

Banks assessing climate risks and opportunities in line with TCFD recommendations must look long term, make use of comprehensive scenario analyses, and adapt data collection, according to findings of a UN-convened pilot, which revealed positive impacts such as improved customer engagement.

The Task Force on Climate-related Financial Disclosures (TCFD), which was established by the Financial Stability Board, published final recommendations in June 2017 on how companies can disclose information about the risks and opportunities presented by climate change. The TCFD is industry-led and its recommendations on disclosures are voluntary.


On 24 April, 16 banks from four continents convened by the UN Environment Programme Finance Initiative (UNEP FI) published a jointly developed methodology that represents the first publicly available specialised guidance on how banks can assess climate-related risks and opportunities, and be more transparent about their exposure to such risks, in line with the TCFD recommendations.

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