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March 2021Task Force on Climate-related Financial Disclosures OverviewB1The Need for Climate-Related Financial Disclosure 2Potential Financial Implications of Climate Change 4The Task Force on Climate-related Financial Disclosures 6Demand for Climate-Related Financial Disclosure 10Climate-Related Risks and Opportunities 12The TCFD Recommendations 14TCFD Recommended Disclosures 16Guidance on Implementing the TCFD Recommendations 20Sector-Specific Supplemental Guidance 22Summary of 2020 Guidance and Other Work 24Implementing the TCFD Recommendations 26Benefits of Implementation 28Select Resources on the TCFD Recommendations 30TCFD Supporters 32Overview of the TCFD 2020 Status Report 34Examples of Momentum for the TCFD 36Contents23The Need for Climate-Related Financial DisclosureThe Need for Climate-Related Financial Disclosure1 Source: Munich Re, The natural disasters of 2018 in figures, 8 Jan 2019, and Hurricanes cause record losses in 2017 The year in figures, 4 Jan 2018.

where such information is material. Recommended Disclosures Recommended Disclosures a) Describe the organization’s processes for identifying and assessing climate-related risks. b) Describe the organization’s processes for managing climate-related risks. c) Describe how processes for identifying, assessing, and

  Information, Assessing, And assessing

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