TCFD Scale

Creating value from disclosure

This is the decade for action. Climate-change will impact everyone. By understanding and illustrating how climate related risks and opportunities will impact your organisation, you can unlock long-term value while building future growth.

The Task Force on Climate-related Financial Disclosures (TCFD) has set out recommendations to help businesses improve the way they report climate-related risks and opportunities. For some, these recommendations are mandatory.

Credible climate and non-financial reporting can build trust in the businesses tackling the climate transition, and has been linked to investment and financing decisions. By taking a proportionate response to TCFD reporting, you can move beyond disclosure. We aim to create good business for a stronger world, creating significant, sustained value for all stakeholders.

Meandering river with affluents and green vegetation

How we can help

TCFD regulation has expanded. In addition to premium listed companies, standard listed companies and large private businesses are now required to publish disclosures as part of their annual accounts. We can help.

We know every business has different needs, so we’ve built that into our approach. With a seat on the TCFD taskforce, and having worked with a range of businesses on their TCFD reporting, we know what good looks like. Based on the nature of your business and your stakeholder appetite, we can offer you the right level of support.

TCFD Scale

Across four workstreams, we can flex our level of support to ensure we work together effectively.

We offer three tiers of support, guiding you through relevant steps to achieve TCFD compliance. Scale 1 is an entry-point solution to quickly get you up to speed on TCFD reporting. Scale 2 offers an additional level of detail to ensure you maximise the value of your reporting. Finally, we offer bespoke programme support for more complex requirements and tailored scenario planning.

Workstream 1. Gap analysis and roadmap

To set the project up for success, we work with you to identify gaps in your current disclosures, or plans and create a roadmap for TCFD alignment.

Through our analysis of thousands of TCFD disclosures, we have developed a tried and tested gap analysis approach, which includes our ‘TCFD Diagnostic Readiness Tool’.

By combining our extensive data on TCFD performance with peer benchmarking, we offer comprehensive advice on your long and short term disclosures.

Workstream 2. Risk and opportunities register

Workstream two is about understanding, validating and integrating climate-related risks and opportunities into a risk management framework.

Using our in-depth industry knowledge, we document existing climate-related risks and opportunities for your business, identifying where you might be exposed. This is underpinned with specific TCFD reporting requirements.

Where possible, these risks and opportunities are embedded into your existing risk management methodology, and where needed, we recommend how to adopt best practice frameworks underpinned by the requirements of the TCFD.

Workstream 3. Scenario analysis

Through modelling, we stress test your business under different climate scenarios.

We have access to a huge amount of data, which includes our partnership with Jupiter Intelligence (JI). Using the JI ClimateScore™ Global product, we can quickly quantify physical climate risk anywhere in the world.

Using the risk register and our data, we simulate what these climate-related risks and opportunities mean for your business. This enables us to uncover your physical and transition risk, including the financial implications of these.

Workstream 4. Governance and reporting

Now we tell your story. In workstream four we focus on the output, helping you to prepare disclosures that are aligned with the TCFD recommendations.

We work with you on best practice, providing recommendations to tell your story in a compelling, robust way.

Having supported thousands of businesses, across multiple industries, we know how to articulate your messages to your stakeholders.

Creating value through disclosure

Strong climate risk management can result in better rates and access to capital.

Governments and organisations increasingly want to engage with sustainable organisations. Failing to act now could lead to loss of business.

TCFD is just the beginning. Investing time today will prepare you for future sustainability regulations.

By implementing TCFD, your business will be forced to face real, climate-related risks and opportunities. Improved understanding can help you adapt your business and pivot towards growth.

A robust TCFD disclosure will enable you to tell your climate change story to customers, employees, stakeholders and investors.

Insights

Our leading TCFD specialists provide regular insights into the latest developments and look ahead to future requirements and impacts.

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Contact us

Tom Loukes

Partner - Risk, Leeds, PwC United Kingdom

+44 (0)7841 562165

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