TCFD Guidance Not "Necessarily Clear" As Mandatory Disclosures Loom
Businesses are at risk of being too cautious with disclosures due to the lack of clarity
Apr 25, 2022 10:00 AM ET
Originally published on Accountancy Age
By Sam Alberti
The UK’s introduction of a mandate on climate-related financial disclosures could pose an initial challenge to organisations due to unclear guidance, according to Justin Elks, risk consulting partner at Crowe.
At the heart of the guidance is four “core elements” of climate-related financial disclosures: governance, strategy, risk management and metrics and targets.
But according to Andromeda Wood, VP regulatory strategy at Workiva, businesses who struggle to meet the expectations of these pillars will find compliance challenging.
“If businesses are unable to work towards these pillars, then even producing compliant disclosures could be a challenge,” she says.
