Task Force on Climate-related Financial Disclosures (TCFD)
Over the last few years, companies have been under increasing pressure to improve and expand their climate-related disclosures. The Task Force on Climate-related Financial Disclosures (TCFD) is one of the most supported disclosure frameworks, with the endorsement of more than 1,500 organizations globally (including 1,340 companies with a market capitalization of $12.6 trillion, and financial institutions responsible for assets for $150 trillion*).
TCFD has gathered momentum and widespread support from investors, insurance companies, financial institutions, and governments for its focus on connecting climate change and the transition to a low carbon economy with financial risks and opportunities. Energy companies worldwide are choosing TCFD as a framework to guide their climate-related disclosures.
Applying the TCFD framework to a company in the oil and gas industry has several unique challenges and complexities.
Whether your company is public or private, a producer, midstream or a supplier, you will benefit from understanding how providers of capital (e.g., investors, lenders and insurance companies) use climate-related information to assess your company’s resilience to climate change.
*Source: TCFD 2020 Status Report (September 22, 2020)
1. What is TCFD?
2. TCFD and the Oil and Gas Industry – Investor expectations and implications for my business
3. TCFD Recommendation 1: Governance
4. TCFD Recommendation 2: Risk Management
5. TCFD Recommendation 3: Strategy
6. Use of Scenarios
7. TCFD Recommendation 4: Metrics and Targets
8. Guidance for Disclosures
9. Best Practices / Case study
Rosa Rivero, Principal, Responsibility Matters
Rosa is a Principal at Responsibility Matters, and a mechanical engineer with an MBA from the Haskayne School of Business. She is a recognized leader in the sustainability/ESG reporting space with extensive experience in the oil and gas sector. Rosa has led the development of sustainability/ESG reports for companies with operations in the U.S., Canada, and around the world, and for oil and gas producers ranging in size from small independent operators to the major integrated players.