Climate change presents a financial risk to all businesses.
The Taskforce on Climate-Related Financial Disclosures (TCFD) is a globally standardised reporting framework for organisations – and their investors, lenders and insurance underwriters – to better understand and manage their exposure to climate change related risk.
In 2020, the UK introduced new legislation affecting the largest companies and financial institutions to report on climate risks and opportunities in line with the TCFD framework. The number of organisations affected by this legislation is only increasing and may now include your business.
Why TCFD-aligned reporting is in your best interests
Even if climate-related financial disclosure is not mandatory for your organisation right now, the TCFD reporting framework provides a best practice approach to identifying and managing a significant area of risk and could prove a valuable exercise in shaping your overall low-carbon strategy, as well as preparing for future regulatory obligations.
A new era of disclosure
For those already reporting GHG emissions or complying with SECR, TCFD-aligned reporting is on another level entirely. In many cases, it means significant strategic changes to meet the necessary requirements.
Aligning your business strategy and operations to the TCFD framework takes time, knowledge and adequate resources to drive real change and it is important to act now.
As an accredited climate change partner of CDP (formerly the Carbon Disclosure Project) Envantage’s specialist consultants can help to prepare your business not only for TCFD-aligned reporting, such as conducting a gap assessment or providing you with a clear roadmap of what you need to do, but also the extra benefits that the framework can uncover.
As part of our Carbon Roadmap Programme, our experts can help you conduct a comprehensive climate change risk assessment and determine an effective strategy for mitigating against the risks and seizing the many opportunities that a low-carbon economy presents.
– Increased brand value
– Investor and stakeholder approval
– Increased resiliency and risk management
– Energy, costs and carbon reduction
– Access to new markets
– Increased access to capital
Envantage carried out eligibility assessments, data management, calculations and all of the reporting required within the compensation and exemption schemes relating to the Renewables Obligation (RO) and Feed-In Tariff (FIT) charges, under the Electricity Market Reform.