{"id":250036,"date":"2024-03-18T10:57:48","date_gmt":"2024-03-18T10:57:48","guid":{"rendered":"https:\/\/enistic.com\/?p=250036"},"modified":"2024-03-25T12:33:41","modified_gmt":"2024-03-25T12:33:41","slug":"tcfd-explained-task-force-on-climate-related-financial-disclosures","status":"publish","type":"post","link":"https:\/\/enistic.com\/2024\/03\/18\/tcfd-explained-task-force-on-climate-related-financial-disclosures\/","title":{"rendered":"TCFD Explained &#8211; Task Force on Climate-Related Financial Disclosures"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"250036\" class=\"elementor elementor-250036\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7e5deba e-flex e-con-boxed e-con e-parent\" data-id=\"7e5deba\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fea921b elementor-widget elementor-widget-text-editor\" data-id=\"fea921b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 11-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"font-weight: 400;\">TCFD is becoming one of the most used acronyms in the sustainability world, but what is TCFD?<\/span><\/p><p><span style=\"font-weight: 400;\">The acronym TCFD stands for the Task Force on Climate-related Financial Disclosure, a significant piece of legislation in the UK. Currently applicable to larger companies, including banks and building societies, TCFD is set to expand its reach in April 2022. This expansion will cover additional UK companies with over 500 staff and \u00a3500 million turnover, further extending to encompass all large UK companies by 2025.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b8b9e7f elementor-widget elementor-widget-text-editor\" data-id=\"b8b9e7f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">What sets TCFD apart is its global standardisation, aligning with the commendable work of organisations like SBTi. While the UK is at the forefront of enforcing TCFD, its impact is felt globally. The core mandate of TCFD revolves around companies&#8217; consideration of how they respond to climate change. It necessitates an evaluation of risks and opportunities, outlining strategies for monitoring and addressing climate impacts on the business.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6675af elementor-widget elementor-widget-video\" data-id=\"e6675af\" data-element_type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/www.youtube.com\\\/watch?v=Wyvzzvx5eek&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 11-04-2024 *\/\n.elementor-widget-video .elementor-widget-container{overflow:hidden;transform:translateZ(0)}.elementor-widget-video .elementor-wrapper{aspect-ratio:var(--video-aspect-ratio)}.elementor-widget-video .elementor-wrapper iframe,.elementor-widget-video .elementor-wrapper video{height:100%;width:100%;display:flex;border:none;background-color:#000}@supports not (aspect-ratio:1\/1){.elementor-widget-video .elementor-wrapper{position:relative;overflow:hidden;height:0;padding-bottom:calc(100% \/ var(--video-aspect-ratio))}.elementor-widget-video .elementor-wrapper iframe,.elementor-widget-video .elementor-wrapper video{position:absolute;top:0;right:0;bottom:0;left:0}}.elementor-widget-video .elementor-open-inline .elementor-custom-embed-image-overlay{position:absolute;top:0;right:0;bottom:0;left:0;background-size:cover;background-position:50%}.elementor-widget-video .elementor-custom-embed-image-overlay{cursor:pointer;text-align:center}.elementor-widget-video .elementor-custom-embed-image-overlay:hover .elementor-custom-embed-play i{opacity:1}.elementor-widget-video .elementor-custom-embed-image-overlay img{display:block;width:100%;aspect-ratio:var(--video-aspect-ratio);-o-object-fit:cover;object-fit:cover;-o-object-position:center center;object-position:center center}@supports not (aspect-ratio:1\/1){.elementor-widget-video .elementor-custom-embed-image-overlay{position:relative;overflow:hidden;height:0;padding-bottom:calc(100% \/ var(--video-aspect-ratio))}.elementor-widget-video .elementor-custom-embed-image-overlay img{position:absolute;top:0;right:0;bottom:0;left:0}}.elementor-widget-video .e-hosted-video .elementor-video{-o-object-fit:cover;object-fit:cover}.e-con-inner>.elementor-widget-video,.e-con>.elementor-widget-video{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-384823a elementor-widget elementor-widget-text-editor\" data-id=\"384823a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>ESOS: Energy Actions Plans<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88183d5 elementor-widget elementor-widget-text-editor\" data-id=\"88183d5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">A key requirement of TCFD is the inclusion of all GHG scope 3, which has never been required for other report such as ESOS, SECR, or PPN 06\/21. TCFD also requires 4 different carbon footprint analysis, along with the establishment of metrics and targets. Importantly, TCFD disclosures are not private; they are intended for public companies to communicate their climate-related actions and strategies to shareholders.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5c18a6f elementor-widget elementor-widget-text-editor\" data-id=\"5c18a6f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The TCFD reporting structure encompasses four pillars \u2013 Governance, Strategy, Risk Management, and Metrics. Companies are expected to provide transparent and comprehensive information in each of these areas. This reporting isn&#8217;t a one-time effort; it requires ongoing maintenance and updates.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10e702d elementor-widget elementor-widget-text-editor\" data-id=\"10e702d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Though the TCFD guidance document spans 500 pages, breaking down the intricacies of this legislation simplifies the understanding. The idea behind TCFD is to encourage companies to assess the impact of climate change on their business and share their proactive measures with stakeholders. While one company may not transform the world alone, a collective effort from numerous companies can contribute significantly to carbon reduction.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b0ec755 elementor-widget elementor-widget-text-editor\" data-id=\"b0ec755\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In essence, TCFD is an essential step toward fostering transparency, accountability, and action within the corporate world. If you have questions about TCFD or any related topics, feel free to send them through, and I&#8217;ll do my best to provide insightful answers.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f50f0d3 elementor-widget elementor-widget-text-editor\" data-id=\"f50f0d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If you are required to report TCFD, you will need a carbon accounting software to support you carbon data analysis. Book a demo with us today to dicover how Enistic can save you time and money on your TCFD journey.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d7f2a7 elementor-widget elementor-widget-image\" data-id=\"9d7f2a7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 11-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/enistic.com\/wp-content\/uploads\/2024\/01\/newwebpic-1024x576.png\" class=\"attachment-large size-large wp-image-249674\" alt=\"\" srcset=\"https:\/\/enistic.com\/wp-content\/uploads\/2024\/01\/newwebpic-980x551.png 980w, https:\/\/enistic.com\/wp-content\/uploads\/2024\/01\/newwebpic-480x270.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a35bf8 elementor-widget elementor-widget-text-editor\" data-id=\"5a35bf8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Find out more information about the new law changes check our YouTube channel &#8220;<a href=\"https:\/\/www.youtube.com\/channel\/UC42H2T6HRs1OChXX9JyFlSA\">Carbon College<\/a>&#8220;. And if you have any questions or need further assistance, feel free to reach out.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1847c18 elementor-widget elementor-widget-hubspot-form\" data-id=\"1847c18\" data-element_type=\"widget\" data-widget_type=\"hubspot-form.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\t\t\t\t\t<script>\n\t\t\t\t\t\twindow.hsFormsOnReady = window.hsFormsOnReady || [];\n\t\t\t\t\t\twindow.hsFormsOnReady.push(()=>{\n\t\t\t\t\t\t\thbspt.forms.create({\n\t\t\t\t\t\t\t\tportalId: 26884916,\n\t\t\t\t\t\t\t\tformId: \"b5127bb0-592e-46ff-936e-2a572ffbf765\",\n\t\t\t\t\t\t\t\ttarget: \"#hbspt-form-1715145428000-6868574987\",\n\t\t\t\t\t\t\t\tregion: \"eu1\",\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t})});\n\t\t\t\t\t<\/script>\n\t\t\t\t\t<div class=\"hbspt-form\" id=\"hbspt-form-1715145428000-6868574987\"><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>TCFD is becoming one of the most used acronyms in the sustainability world, but what is TCFD? The acronym TCFD stands for the Task Force on Climate-related Financial Disclosure, a significant piece of legislation in the UK. Currently applicable to larger companies, including banks and building societies, TCFD is set to expand its reach in [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":243468,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[143,132,144],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/posts\/250036"}],"collection":[{"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/comments?post=250036"}],"version-history":[{"count":5,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/posts\/250036\/revisions"}],"predecessor-version":[{"id":250057,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/posts\/250036\/revisions\/250057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/media\/243468"}],"wp:attachment":[{"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/media?parent=250036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/categories?post=250036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enistic.com\/wp-json\/wp\/v2\/tags?post=250036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}