NOVEMBER 2020
Gain an introduction to the TCFD framework in this webinar recording with Dr. Fiona Wild, member of the TCFD and Vice President of Sustainability and Climate Change at BHP with hosts Barbara Nebel and Christin Schaller.
Governments globally are increasingly looking at making climate risk reporting mandatory, with New Zealand being the first country to put this in place. Climate risk management enables companies to thrive in a low carbon economy. It helps in building long-term resilience for financial impacts from climate such as more frequent extreme weather events.
Widely regarded as international best practice, the Task Force on Climate-related Financial Disclosures (TCFD) provides recommendations for businesses on how to assess and report on climate-related financial risks and opportunities.
The webinar covers
- Starting the process of climate-related financial disclosure using the TCFD recommendations
- How companies can identify and integrate climate-related financial risks into corporate strategy with insights from BHP
- Building trust, capability, and resilience through climate risk assessment
Dr. Fiona Wild shared her extensive TCFD experience from both of her roles to help businesses get started.
Key takeaways for TCFD reporting
- Get started with TCFD reporting, it doesn’t have to be perfect from the start - reporting is a process!
- Start with a gap assessment and learn from peers
- Make qualitative assessments ahead of quantitative assessments
- Check in with your investors to see if your disclosure is useful
Additional resources
BHP report: BHP’s latest Climate Change Report 2020
TCFD website: TCFD recommendations and further guidance documents (e.g. on risk management & scenario analysis)
TCFD Knowledge Hub: Provides many best practice examples as well as free online courses