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Overview

March 2021 Task Force on Climate-related Financial Disclosures OverviewB1 The Need for Climate-Related Financial Disclosure 2 Potential Financial Implications of Climate Change 4 The Task Force on Climate-related Financial Disclosures 6 Demand for Climate-Related Financial Disclosure 10 Climate-Related risks and Opportunities 12 The TCFD Recommendations 14 TCFD Recommended Disclosures 16 Guidance on Implementing the TCFD Recommendations 20 Sector-Specific Supplemental Guidance 22 Summary of 2020 Guidance and Other Work 24 Implementing the TCFD Recommendations 26 Benefits of Implementation 28 Select Resources on the TCFD Recommendations 30 TCFD Supporters 32 Overview of the TCFD 2020 Status Report 34 Examples of Momentum for the TCFD 36 Contents23 The Need for Climate-Related Financial DisclosureThe Need for Climate-Relat

• Climate-related financial risks could affect the economy through elevated credit spreads, greater precautionary saving, and rapid pricing readjustments “ Climate-related risks are a source of financial risk and it therefore falls squarely within the mandates of central banks and supervisors to ensure the financial system is resilient

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