The Task Force on Climate Related Financial Disclosures (TCFD) is helping companies predict and assess what the long-term impacts of climate change will mean for their industry. The TCFD helps companies by providing a range of likely scenarios throughout different stages of the climate change. The task force takes into account different climate models put together by the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC).
Understanding what future risks will be, helps companies plan and evolve to avoid negative financial impacts to businesses. Investors from around the world are committing to implementing TCFD recommendations including Climate Action 100+, an investor initiative encouraging the world’s largest greenhouse gas emitters take action to reduce emissions. This type of climate planning and analysis will continue to evolve over time in order to keep up with changing regulations and new opportunities that will arise due to the climate crisis.
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