The Task Force on Climate-related Financial Disclosures (TCFD) created a widely used framework for reporting climate risks under four pillars: governance, strategy, risk management, and metrics and targets.
The Task Force on Climate-related Financial Disclosures (TCFD) was set up in 2015 by the Financial Stability Board to develop recommendations for how companies should disclose climate-related financial risks. Its 2017 recommendations became one of the most influential climate reporting frameworks in the world.
The TCFD completed its work and disbanded in 2023. The IFRS Foundation took over monitoring of companies' climate disclosures, and the TCFD's recommendations are built into IFRS S2 under the ISSB standards. Many regulations still reference TCFD-aligned reporting.
An oil and gas operator used the TCFD structure to explain that its board risk committee reviews climate risk twice a year, that extreme heat and flooding could disrupt remote sites, how those physical risks are added to the corporate risk register, and its emission reduction targets.
Yes. Although the task force disbanded, its four-pillar structure lives on in IFRS S2 and many national rules.
It tests how a business might perform under different future climate and policy pathways, such as a 1.5°C world or a high-warming world.
Some jurisdictions have required TCFD-aligned disclosures for listed or large companies. Check local rules.
Part of SafetyIQ's EHS glossary: plain-English definitions of workplace health and safety terms.
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