Rapidly enhancing the comprehensiveness, consistency and comparability of climate-related disclosures is a critical near-term imperative for financial institutions, corporates, regulators and governments. However, in the three years since the release of the Taskforce on Climate-related Financial Disclosures (TCFD), there has been limited progress to do so.
A first step toward greater consistency is to build industry consensus on common practices for disclosures that complement what the TCFD framework currently provides. To address this challenge, the Institute of International Finance (IIF) and the United Nations Environment Programme Finance Initiative (UNEP FI), with the support of EY, conducted a joint effort to support banks and other financial institutions.
The TCFD report playbook, an output of this effort, is intended to serve as a resource for firms at different stages on their journey toward fully aligned and comprehensive TCFD reporting.
While focused primarily on the banking sector, this document contains information that is relevant for all financial institutions, including asset managers and insurers.