Task Force on Climate-related Financial Disclosures: Status Report

This is an update to the report on climate-related financial disclosures presented in September 2018. This new 2019 report provides: (1) a general description of disclosure practices that are aligned with the recommendations of the Task Force for a period of time of three years; (2) information on the adoption and use of the recommendations of the previous reports of the Task Force, and, finally, (3) additional information to support the trainers in the implementation of the recommendations.

The Task Force believes that the success of its recommendations will depend on the continuous and widespread adoption by companies in the financial and non-financial sectors. Through widespread adoption, climate-related risks and opportunities will become a natural part of the risk management and the strategic planning processes of companies. During this process, it is expected that the companies and investors understand the financial implications associated with climate change; that the information collected is more reliable for decision making, and that the risks and opportunities will have more precise estimates, which will allow for a more efficient capital allocation and a more orderly transition to a low carbon economy.