TCFD: Why companies should do climate-related financial reporting

Here you will find an overview of all relevant basic information on TCFD.

Our approach

Consistent management and disclosure of climate-related financial information is essential for understanding and assessing climate-related risks and opportunities. Our experts help your company implement the TCFD recommendations and take advantage of the inherent competitive potential. With their broad industry and functional expertise, they help identify the information required by investors, lenders, and insurance companies. This enables companies to make sustainable business and financial decisions reflecting a sense of responsibility and vision for climate change. Working together with you, we lay the foundation for meeting the future expectations of the regulatory authorities, adhering to sustainability principles, and managing the complex risks that arise. This lets you take advantage of the opportunities that arise for your company through the strategic inclusion of the climate change impacts with sustainability management and reporting.

Our solutions

We provide you with comprehensive advice and guidance: from initial contact with the TCFD recommendations, through the analysis of internal climate risk drivers, to implementation of the TCFD guidelines, and reporting. We offer a unique combination of expertise in climate regulation, governance, risk management, quantitative methods, and reporting. Our TCFD service is divided into three phases: Gap analysis and action plan, implementation, and reporting:

TCFD Gap Analysis

• Comparison of already available/disclosed information and existing processes, activities, and governance practices with TCFD requirements (target/actual comparison)
• Development of an implementation plan based on the TCFD’s four fields of action:
  • Governance (alignment of governance structures with recommended climate responsibility for management/executive board)
  • Strategy (impact of climate-related risks and opportunities)
  • Risk management (identification, assessment, and management of climate-related risks)
  • Key figures and objectives (assessment of climate-related risks and opportunities as well as the requirements for the reporting of greenhouse gas emissions)

Scenario analysis

• Scenario analysis to assess climate risk drivers:
  • Identification of major risks and opportunities (consideration of physical risks and transition risks)
  • Identification and definition of scenarios and selection of supporting tools
  • Assessment of climate-related impacts by analyzing scenarios (impact on future financial situation and strategic plans)
  • Development of appropriate measures to minimize identified risks

Implementation of the TCFD guidelines and reporting

• Support in implementing the TCFD guidelines for climate-related disclosures in terms of the fields of action:
  • Evaluation of the greenhouse gas emissions (determine potential for reductions, CO2 reduction measures, and strategic implications)
  • Review of the scenario analysis results
• Reporting on climate-related financial information in accordance with TCFD:
  • Integration of TCFD reporting into overall corporate management and the internal control system
  • Publication of the financial impacts of climate risks and opportunities
  • Continuous improvement of TCFD data

Your benefits

Climate-related financial reporting helps you pursue a consistently sustainable strategy and also make a positive contribution to climate protection. In this way, you create transparency for all the stakeholders and facilitate your company’s access the capital market. Acting in a climate-conscious manner inspires confidence and strengthens your brand.

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