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Staying on track

New platform aims to help firms with climate reporting

To help companies implement recent recommendations on climate-related disclosures, the Task Force on Climate-Related Financial Disclosures and the Climate Disclosure Standards Board have launched the TCFD Knowledge Hub.

The online platform, which was rolled out May 1, contains research papers and webinars among other resources designed to help companies implement voluntary disclosure recommendations, which were finalized by the task force last June.

Through its recommendations, the task force hopes to help companies produce "more consistent, comparable and reliable" disclosures on climate-related information that investors, lenders and others can use to make financial decisions, said a news release about the platform's launch.

Material on the website is submitted by academics, industry associations and consultants, among others, and is reviewed by the Climate Disclosure Standards Board, a consortium of business and environmental organizations focused on improving the quality of climate disclosures in mainstream financial reports.

Case studies on companies that have implemented the task force's recommendations are expected to be added to the website in the coming months.

"The TCFD Knowledge Hub will make it easier for companies to take the steps necessary to provide transparency to the capital markets about how a company identifies, measures, manages and mitigates climate-related financial risk," said Mary Schapiro, special adviser to TCFD Chairman Michael R. Bloomberg, in the news release.

The TCFD Knowledge Hub can be accessed at tcfdhub.org.