28 May 2020
A4S adds SSE to the list of practical examples of implementing TCFD
The Task Force on Climate-related Financial Disclosure (TCFD) was established to develop recommendations to help address the challenges of climate-related disclosure. The recommendations are structured around four areas that represent core elements of how an organisation operates: governance, strategy, risk management, metrics and targets. The TCFD has published a suite of materials to outline the recommendations in full and to provide further guidance on how to implement the recommended reporting.
The Prince’s Accounting for Sustainability Project (A4S) supports the adoption of TCFD recommendations by working with stakeholder groups to build awareness and provide access to the skills and knowledge required for implementation.
A4S has recently added a practical example of how SSE has implemented TCFD. The practical example can be found here and joins examples from Tesco and Unilever.
At IMS we think that these examples are a useful guide for organisations to use when thinking about their own TCFD journeys. They are helpful to outline the various climate scenarios that have been considered by organisations and to look at the types of risks and opportunities that may arise under different climate change possibilities.
IMS have also produced TCFD guidance to help organisations to address the application of TCFD. In our experience, clients often struggle with scenario analysis and the identification of risks and opportunities, and our guidance is therefore centred around these specific areas. The guidance will soon be published on our website so watch this space!