“Net zero goal is the greatest commercial opportunity of our time”
Mark Carney, UN Special Envoy for Climate Action and Finance, and ex-Governor of the Bank of England, February 2020
Climate change is now indisputably recognised as the defining issue of our age and the 2020s as the decade when the world must make significant progress to reduce greenhouse gas emissions if the goal of the Paris Agreement, to keep mean global temperature rise to well below 2°C, is to be achieved.
Increasingly, governments are setting net-zero targets and businesses and other organisations are under pressure to play their part and to demonstrate to their investors, customers and other stakeholders the steps they are taking to address this critical issue.
The recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) provide an important catalyst to achieving these goals. They provide businesses and organisations with a methodology to assess, not only the risks, but also the opportunities they face from climate change and to disclose financially-material information about this in their mainstream reporting. Originally designed as voluntary, the TCFD recommendations are widely supported by many of the world’s leading companies and financial institutions, and the move to them becoming mandatory is increasingly likely. They have received renewed impetus as governments, central banks and institutional investors ramp up demands for companies to provide the type of information recommended by the TCFD.
The UK Government launched the Green Finance Strategy in July 2019 in which it states that “
…all listed companies and large asset owners to disclose in line with the TCFD recommendations by 2022”.
JS Global’s Founding Director Jane Stevensen worked closely with the TCFD from its launch at COP21 in 2015, supporting both the secretariat and individual Taskforce members from the 32 global businesses driving the initiative, providing strategic and technical support in the development of the report and recommendations presented to the G20 in 2017. Relationship management across sectors and geographies was key, guiding and supporting at the most senior levels.
We can support you across the four key TCFD themes of Governance, Strategy, Risk Management and Metrics and Targets.
Our approach helps you to
Assess the impacts of climate change on your business.
Challenge business as usual assumptions to drive strategic decision making.
Review governance and risk management processes and increase transparency.
Manage reputation and social licence to operate.
Carry out scenario analysis to stress test resilience of business strategy.
Report your climate-related disclosures in your mainstream annual financial filings.
Climate Action Programme Sustainable Investment Forum
World Economic Forum Davos Annual Meeting
New York Climate Week
UNEP Finance Initiative Global Roundtable series