Leading financial firms commit to improved transparency on the risks of climate change
Global financial institutions have clients and portfolios that cover all sectors of the economy and can therefore have a powerful influence on the way that investments are made and projects are financed. Responding to climate change impacts requires a systemic, risk-based approach to decision making. The recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) provide a framework for this, but uptake has been voluntary and rather piecemeal.