The TCFD structured its recommendations around four thematic areas that represent core elements of how organizations operate: governance, strategy, risk management, and metrics and targets. These thematic areas are designed to interlink and inform one another.

Core Elements of Recommended Climate-Related Financial Disclosures

Governance

The organization's governance and climeate-related risks and opportunities. Find out more.

Strategy

The actual and potential impacts of climate-related risks and opportunities on the ogranisation's businesses, strategy and financial planning. Find out more.

Risk Management

The processes used by the organization to identify, assess and manage climate-relaetd risks. Find out more

Metrics and Targets

The metrics and targets used to assess and manage relevant climate-related risks and opportunities. Find out more

These four core areas are supported by recommended disclosures and guidance. There is guidance to support all organizations in developing climate-related financial disclosures consistent with the recommendations and recommended disclosures as well as supplemental guidance for specific sectors.


Recommendations

Four widely adopted recommendations tied to: governance, strategy, risk management and metrics and targets.

Recommended Disclosures

Specific recommended disclosures organizations should include in their financial filings to provide decision-useful information.

Guidance for All Sectors

Guidance providing context and suggestions for implementing the recommended disclosures for all organizations.

Supplemental Guidance for Certain Sectors

Guidance that highlights important considerations for certain sectors and provides a fuller picture of potential climate-related financial impacts in those sectors.

Supplemental guidance is provided for the financial sector and non-financial sectors potentially most affected by climate change.

The recommendations, disclosures, and guidance all rest on a set of underlying principles intended to facilitate high-quality, decision-useful disclosures even as the market’s understanding of – and approach to – climate-related impacts evolves over time.

To find out more about the TCFD recommendations, read the TCFD FAQs.


Getting Started

When you start to think about how to implement the TCFD recommendations, here are some points to consider:

Why is this important?

What does "climate-related risk and opportunity" mean?

What are "financial impacts" of climate change?

What do you need to do to start?

How are the recommendations related to existing reporting frameworks?

Principles for effective disclosure

What is scenario analysis?


Resources to get you started


To explore each of the thematic areas and supporting recommended disclosures, click on the recommendations below.

Governance

Strategy

Risk Management

Metrics & Targets