cdsb slides for sitra finland 16.01.18

January 2018 | @CDSBGlobal

Translating the TCFD recommendations into practical next steps

16 January 2018

Simon Messenger, Managing Director, CDSB


To provide decision-useful environmental information to markets via the mainstream corporate report

Climate Disclosure Standards Board


TCFD: Global Action and Readiness


Global Regulatory Action 4

Canada• Canadian Securities

Administrators

taskforce for TCFD

France• Article 173

• Pushing for

mandatory

implementation of

TCFD

China• CSRC & People’s Bank of

China released climate

disclosure roadmap to 2020

• CSRC announcement to pilot

TCFD recommendations

Australia• Australia Prudential

Regulatory Authority

demanding information

• Australian Senate

Economics Committee

recommended adoption of

TCFD

Stock exchanges reference

CDSB Framework

European

Union• EU High Level Expert Group

(HLEG) on Sustainable

Finance

• EU Non-Financial Reporting

Directive Review

Germany• Assessing the feasibility

of regulation similar to

Article 173

United Kingdom• Recently endorsed the TCFD

recommendation

• BEIS ‘Green Finance Task Force’


Investment Community Engagement

5Investment Community Engagement - TCFD

Aegon

Aviva

Axa

Barclays

BlackRock

Boston Common Asset Management

Bradesco

Brunel Pension Partnership

Caisse Inter-Entreprises de Prévoyance

Professionnelle

Canada Pension Plan

Candriam Investors Group

Church Commissioners for England

Church of England Pensions Board

Elo Mutual Pension Insurance

Environment Agency Pension Fund

Folksam

Generation

Greater Manchester Pension Fund

Hermes EOS

HSBC

HSBC UK Pension Fund

Industrial and Commercial Bank of China

Industrial and Commercial Bank of China

JP Morgan

Jupiter Asset Management

Legal & General

LGPS Central

Local Pensions Partnership

London Pensions Fund Authority

M&G

Merchant Navy Officers Pension Fund

National Employment Savings Trust

Nest Sammelstiftung

PGGM

PKA

Royal London

Schroders

Storebrand

Swiss RE

Tokio Marine

TPT Retirement Solutions

UBS

Unilever UK Pension Fund

VanguardList is non-exhaustive and illustrative only


Are companies ready for TCFD?

TCFD – Company Readiness 6

CDSB analysis conducted on CDP 2017 responses across 15 countries (January 2018)

Governance

Strategy

Risk

Management

Metrics /

Targets

➢ 8 in 10 companies have Board-level oversight of climate change,

with lower amounts in North America.

➢ 9 in 10 companies include climate-related risks and opportunities

into their company-wide processes, but only half consider these in

the medium-term.

➢ Fewer than 2 in 10 companies provide incentives to their Board

members to manage climate change.

➢ Almost all companies currently disclose Scope 1, though only 7 in

10 do in China.


TCFD: What can companies do?


Practical Next Steps Checklist

8Practical steps for reporting climate risks and opportunities

cdsb.net/checklist


9TCFD overview and practical steps for implementation


TCFD Sources 12

Companies needn’t reinvent the wheel


TCFD Knowledge Hub

TCFD Knowledge Hub 14

An online ‘encyclopaedia’ platform for the

TCFD Recommendations.

• Announced by Mike Bloomberg at One Planet Summit on 12

December 2017

• Structured and easily searchable by country, industry or role

• Content will include technical guidance, tools, templates, frameworks,

methodologies, case studies, examples, FAQs, practice networks and

interactive functions

• Launching in Spring 2018

• www.tcfdhub.org

http://www.tcfdhub.org/


Simon Messenger

Managing Director, CDSB

[email protected]

mailto:[email protected]