Further to our report: “Climate Disclosure (TCFD) Update,” this new memo from Kirkland & Ellis: “TCFD Issues New Guidance as Its Climate Reporting Framework Continues to Gain Traction” provides an instructive overview of the TCFD’s recent changes to its Implementation Guidance - most notably, but not exclusively, pertaining to emissions disclosures, and its additional guidance on metrics, targets, and transition plans, which identifies seven categories of metrics for recommended disclosure for all organizations that the TCFD believes are decision-useful; clear and understandable; reliable, verifiable and objective; and consistent over time, such that they promote comparability within and across industries.
See The Conference Board’s “Journey to Net Zero: Key Words You Need to Know” and Bloomberg Law’s “Global ESG Reporting Rules Echo Existing Voluntary Standards” and additional resources on our Climate Risk & Disclosure page. This post first appeared in the weekly Society Alert!