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TISA publishes market-leading guide to The Taskforce on Climate-related Financial Disclosures (TCFD)

November 10, 2022

  • The Task Force on Climate-related Financial Disclosures (TCFD) was established by the FSB (Financial Stability Board) with the aim to improve and increase reporting of climate-related financial information.
  • The TISA Guide to TCFD is designed to help firms within the financial services space better understand the Sustainability Disclosures Requirements (SDR) and what is required of them.
  • This is a significant step towards the standardisation of ESG data and therefore towards the transparent reporting of the ESG commitments of financial services providers.

The Investing and Saving Alliance (TISA) has announced the launch of their Guide to The Taskforce on Climate-related Financial Disclosures (TCFD) which will aid financial service providers in ESG disclosures, ultimately helping to improve the price of climate-related risks and lead to more informed capital allocation decisions.

The UK Government has announced that it will ensure the UK becomes the first country in the world to make TCFD-aligned disclosures mandatory across the whole economy by 2025. TCFD is already mandatory for premium-listed issuers and is expected to apply to all UK listed companies over time. This guide will serve as an invaluable tool for these providers to navigate reporting as the requirements increase over time.

Jeffrey Mushens, Technical Policy Director at TISA said: “Financial services providers are increasingly aware of their responsibilities to prove their sustainability and ESG credentials. Consumers are ever more conscientious about where their money is invested and how ethical and sustainable the products and services are that they use. ESG ratings are used to assess a company’s resilience to long-term, material ESG risks.

“Here at TISA, we know that ESG ratings are only effective if they are consistent and comparable, so we were incredibly pleased by the creation of TCFD back in 2017. However, we realise that reporting can be complicated for Financial Services providers, so we hope that this guide can help explain exactly what is required of them.”

Gemma Woodward, Head of Responsible Investment at Quilter Cheviot and Deputy Chair for TISA’s RSI Committee said: “I am delighted to have been part of the TISA working group which has put this guide together. TCFD is an important set of requirements that businesses will need to dedicate time and resource to, so we are pleased to have produced this guide to help smaller firms in achieving this.”

The TISA Guide to TCFD will be discussed further at the TISA ESG Investing Conference on Wednesday the 7th of December. If you are interested in learning more about this guide and all the other crucial work that TISA does in the ESG space, feel free to register here.

Download the TISA Guide to TCFD here: https://www.tisa.uk.com/policy-technical/social-responsibility-resources/tcfd-guide/

Read more here: https://www.tisa.uk.com/policy-technical/social-responsibility-resources/tcfd-guide/