The TCFD has announced it now has more than 1000 supporting organisations for its recommendations.
The Task Force on Climate-related Financial Disclosures say the support from 1027 organisations in 55 countries signifies a major shift among market participants in acknowledging that climate change presents a financial risk.
Together, the private sector organizations that are supporters have a market capitalization of nearly $12 trillion. The Task Force, which is chaired by Michael R. Bloomberg, provides recommendations to enable markets to address the financial impact of climate change by increasing transparency on climate-related risks and opportunities to promote more informed financial decision-making.
The supporters cover the public and private sectors and include organizations such as corporations, national governments (Belgium, Canada, Chile, France, Japan, Sweden and the United Kingdom), government ministries, central banks, regulators, stock exchanges and credit rating agencies. Included among the supporters are 473 financial firms responsible for assets of $138.8 trillion. Private sector supporters include asset managers, asset owners, banks, and companies in industries such as chemicals, energy, insurance, metals and mining, oil and gas, and transportation, among others.