A climatic tipping point: Environmental disclosure goes mainstream
“Investor interest in climate change has increased significantly since the TCFD recommendations were published. Since December, the number of TCFD supporters has more than doubled to more than 300 organizations, including over 150 financial firms responsible for assets of $82 trillion — more than the combined GDP of the six largest global economies. . . .
“Given the shared objectives of TCFD and CDP, it comes as no surprise that the latter fully has integrated the TCFD recommendations into the 2018 CDP questionnaires, including a focus on sector-specific questions. . . .Many recommendations from TCFD corresponded with the changes that CDP has been making over the last several years, including more emphasis around science-based targets, carbon pricing and Scope 3 emissions. As a result, the largest TCFD-related change to the 2018 CDP questionnaire is the push to use a quantitative scenario analysis process to understand future risks and opportunities. Such analyses lead to understanding how different climate scenarios will affect the business — enabling the incorporation of scientific due diligence into GHG reduction goal development, business continuity planning and R&D strategies.”
FULL STORY published May 15, 2018 via GreenBiz