Webinar Recap: Getting a Handle on Climate-Related Risks and Opportunities Through TCFD

Sep 30, 2021 1:45 PM ET
Blog

The impacts of climate change are very real and there is an increasing pressure on businesses to step up and act. In a webinar moderated by Antea Group’s Vice President of Risk and Financial Services, Ben Hansen, two of our Task Force on Climate Related Financial Disclosure (TCFD) experts provided tangible knowledge on how to conduct TCFD-aligned analysis and prepare public disclosures. Nick Martin, Sustainability Practice Lead, and Nate Kimball, Climate Solutions Lead, cover topics including what TCFD is and why it's important, types of climate risk, and how to begin implementing TCFD.

Why TCFD and Why Now?

“We know that climate risk is a dominant risk across all industries” shared Nate Kimball. Business risks are rapidly increasing in a warming world and understanding these risks provides downside protection and greater business resiliency. Knowing this, businesses should be preparing for a variety of scenarios from a more pessimistic view (i.e., extreme global warming) to more optimistic scenarios (i.e., low carbon economy).

TCFD provides a helpful framework for businesses as they evaluate these risks. It allows for transparent and replicable analysis of climate-related risks and opportunities across companies’ global asset portfolios and helps identify actions that can reduce risk while creating long-term value.

What is TCFD?

TCFD is a program led by the Financial Stability Board (FSB). TCFD creates a standard through which companies publicly disclose climate risks and opportunities. The TCFD is currently voluntary but regulatory bodies around the world (including the SEC in the U.S.) are considering mandatory climate-related disclosures. TCFD is an investor-focused framework and focuses on uncovering “decision-useful” information about a company’s climate-related risks and opportunities.

Continue reading to learn more about implementing TCFD and our simple 4 step process.