UNEP FI has presented a series of key recommendations to the International Task Force on Climate-Related Financial Disclosures, recently established by the Financial Stability Board (FSB) to enhance climate disclosure practice in line with the requirements of financial actors.
Informed by its extensive track record with the financial sector and its expertise on disclosure-related issues, UNEP FI’s key points to the Task Force were:
- Not only corporate but finance sector disclosure should be included in the scope of its work;
- There should be distinguished approaches between real economy corporates, investors and other financial institutions;
- Not only climate risk disclosure should be considered, (“managing the brown”) but also climate performance disclosure (“scaling up the green”), and the latter included in its scope of work
- To highlight the importance of integrated reporting by engaging the financial accounting and audit community
The TCFD is currently mapping the disclosure landscape by compiling a scoping report to prioritise issues for a full report.
Read UNEP FI’s presentation.