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Task Force on Climate-related Financial Disclosures Implementing the Recommendations of the Task Force on Climate-related Financial DisclosuresOctober 2021 This document updates and supersedes the 2017 Annex " Implementing the Recommendations of the Task Force on Climate-related Financial Disclosures" Implementing the Recommendations of the Task Force on Climate-related Financial Disclosures i Contents A. 3 1. Background .. 3 2. Structure of Recommendations .. 6 3. Application of Recommendations .. 7 4. Assessing Financial Impacts of Climate-Related Risks and Opportunities .. 9 5. Summary of Additional Supporting Materials .. 12 B. Recommendations .. 14 C. Guidance for All Sectors .. 17 1. Governance .. 17 2. Strategy .. 18 3. Risk Management .. 20 4. Metrics and Targets.

described in the Task Force’s report—Recommendations of the Task Force on Climate-related Financial Disclosures (2017 report). The Task Force’s 2017 report reflects its consideration of public feedback received throughout 2016 and 2017. The Task Force solicited this feedback in several ways, including

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