On 31st January 2022, the Climate Disclosure Standards Board (CDSB) was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB). While this site and its resources remain relevant for preparers looking to improve sustainability disclosure until such time as the ISSB issues its IFRS Sustainability Disclosure Standards on such topics, no further work or guidance will be produced or published by CDSB. For further information please visit the IFRS website.

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Checklist: Laying the groundwork for effective TCFD aligned disclosures

Here are the 11 preliminary steps you need to start integrating the recommendations.

Ahead of the launch of the "TCFD Implementation Guide", CDSB and the Sustainability Accounting Standards Board (SASB) have published a checklist to help you prepare for effective TCFD-aligned disclosures.

Download the TCFD Implementation Checklist.

Here are the 11 preliminary steps that you can take to start integrating the TCFD recommendations into standard business processes:

  • Secure the support of the board of directors and executive leadership team
  • Integrate climate change into key governance processes, enhancing board-level oversight through audit and risk committees
  • Bring together sustainability, governance, finance, and compliance colleagues to agree on roles
  • Look specifically at the financial impact of climate risk and how it relates to revenues, expenditures, assets, liabilities, and capital
  • Assess your business against at least two scenarios
  • Adapt existing enterprise-level and other risk management processes to take account of climate risk
  • Solicit feedback from engaged investors about what information they need to know about climate-related financial risks and opportunities
  • Look at existing tools you may already use to help you collect and report climate-related financial information such as the CDP questionnaire, the CDSB Framework, and the SASB standards
  • Plan to use the same quality assurance and compliance approaches for climate-related financial information as for finance, management, and governance disclosures
  • Prepare the information you report as if it were going to be assured
  • Look at the existing structure of your annual report and think about how you can incorporate the recommendations into your discussion of risks, management’s discussion and analysis (MD&A), and the governance section

Get started today by downloading the TCFD Implementation Checklist