TCFD – Climate disclosure training

 

In order to provide markets with high-quality training on climate disclosure and provide an overview of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, the UN SSE, IFC and CDSB recorded a multifaceted course for exchanges to distribute to their markets and staff, free of charge. Together with IFC and CDP, the UN SSE also offers live, interactive, virtual training for markets on TCFD. For more information on how to host a training working for your market, stock exchanges can contact the SSE team.

  • TCFD 101 provides an overview of what climate-related reporting is and why it is important. It will also provide participants with the global and regional context and focus on the initial steps on how to address the TCFD recommendations.
  • TCFD 102 provides an in-depth program during which participants will peer-review each others’ TCFD reports and wider good practice. For markets with no or very little reporting on TCFD, the course will focus on setting up internal processes for reporting and potential first areas to get started on.

 

TCFD 101 – Getting started with climate-related financial reporting: part 01

TCFD 101 – part 2

TCFD 101 – part 3

TCFD 101 – part 4

TCFD 101 – part 5

TCFD 102 – Building experience in climate-related financial reporting: part 1

TCFD 102 – part 2

TCFD 102 – part 3

TCFD 102 – part 4

TCFD 102 – part 5

List of Acronyms

Short-handFull term or definitionNotes or resources
TCFDTask force on climate related financial disclosures
CDSBClimate Disclosure Standards BoardCDSB is now part of the ISSB
CDPFormerly the carbon disclosure projectCDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
SSEThe United Nations Sustainable Stock Exchanges InitiativeThe SSE is a UN partnership between UNCTAD, UNEP-FI, UNGC and PRI
IFCThe International Finance Corporation The IFC is the private sector arm of the World Bank
PRIPrinciples for Responsible InvestmentA United Nations-supported international network of investors working together to implement its six aspirational principles.
UNCTADThe United Nations Conference on Trade and DevelopmentUNCTAD was established in 1964 to promote the interests of developing states in world trade. UNCTAD is the part of the United Nations Secretariat dealing with trade, investment, and development issues.
UNGCUnited Nations Global CompactThe UNGC is a non-binding United Nations pact to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies, and to report on their implementation.
IFRSInternational Financial Reporting StandardsInternational Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board.
ISSBInternational Sustainability Standards BoardThe ISSB was set up by the IFRS Foundation Trustees in 2021 and it consolidates the work of the IIRC, SASB and CDSB with support from IOSCO, TCFD and WEF.
IPCCIntergovernmental Panel on Climate ChangeThe IPCC is the United Nations body for assessing the science related to climate change.
UNFCCCThe United Nations Framework Convention on Climate ChangeThe UNFCCC secretariat (UN Climate Change) is the United Nations entity tasked with supporting the global response to the threat of climate change.
WEF / "The Forum"The World Economic Forum
G20The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU)
MaterialityMateriality is a concept that defines why and how certain issues are important for a company or a business sector. In this training we refer to financial materiality as issues that have an impact on a company's financial position or financial performance.
SASBSustainability Accounting Standards BoardSASB is now part of ISSB
GRIGlobal Reporting Initiative
IIRC / IRIntegrated Reporting FrameworkIIRC is now part of ISSB
Enterprise valueMarket capitalisation (shareholder value) plus the market value of net debt. Enterprise value is used in this training to emphasize the financial materiality of climate and climate change
Scenario analysisDescribes a pathway of development leading to a particular plausible (but not necessarily ‘desirable’) outcome.There are a series of tools and guidance documents available for the scenario analysis process. We recommend starting with the SSE Model Guidance on Climate Disclosure (pg. 27) for an overview, then making use of the numerous resoruces avilable through the TCFD Hub
Value chainIn this training, when we refer to value chain we will be using it in the same way that the Greenhouse Gas Protocol refer to value chain, refering to all of the upstream and downstream activities associated with the operations of the reporting company, including the use of sold products by consumers and the end-of-life treatment of sold products after consumer use. This is often linked to scope 3 emissions
GHGGreenhouse gasA greenhouse gas (GHG or GhG) is a gas that absorbs and emits radiant energy within the thermal infrared range, causing the greenhouse effect. The primary greenhouse gases in Earth's atmosphere are water vapor (H 2O), carbon dioxide (CO 2), methane (CH 4), nitrous oxide (N 2O), and ozone (O3).
TNFDTaskforce on Nature-related Financial DisclosuresThe goal of the TNFD is to provide a framework for organisations to report and act on evolving nature-related risks, in order to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes
SBTiScience Based Targets initiativeScience-based targets provide companies with a clearly-defined path to reduce emissions in line with the Paris Agreement goals.
Net-zeroA commitment to reducing emissions across all scopes swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets. Net zero targets aim to reduce all emissions possible, offsetting those that cannot be reduced.
GAAPGenerally Accepted Accounting PrinciplesGenerally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). Public companies in the U.S. must follow GAAP when their accountants compile their financial statements.
CPDContinuing Profressional DevelopmentThis course CPD certified. You can find out more on their website about how to apply the credit from this course
FASBFinancial Accounting Standards BoardThe Financial Accounting Standards Board (FASB) is an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States, following generally accepted accounting principles (GAAP)
IOSCOInternational Organization of Securities CommissionsIOSCO is an association of organizations that regulate the world's securities and futures markets.
IASBInternational Accounting Standards BoardThe International Accounting Standards Board is the independent, accounting standard-setting body of the IFRS Foundation.
ICPInternal Carbon PricingInternal carbon pricing (ICP) is a mechanism by which companies can put a value on their greenhouse gas (GHG) emissions in a way that drives positive change in their business.
Climate Transition PlansA climate transition plan is a time-bound action plan that clearly outlines how an organization will pivot its existing assets, operations, and entire business model towards a trajectory that aligns with the latest and most ambitious climate science recommendations.
PCAFPartnership for Carbon Accounting FinancialsPCAF is a global partnership of financial institutions that work together to develop and implement a harmonized approach to assess and disclose the greenhouse gas (GHG) emissions associated with their loans and investments.
PBAFPartnership for Biodiversity Accounting FinancialsThe PBAF standard will provide financial institutions with practical guidance on biodiversity impact and dependency assessments and define what is needed in order for these assessments to deliver the right information to financial institutions.
ICAPSInvestors Climate Action PlansThe Investor Climate Action Plans (ICAPs) Expectations Ladder and Guidance provides investors with clear expectations for issuing and implementing comprehensive climate action plans, including steps investors can take to support the goal of a net-zero emissions economy by 2050 or sooner.

SSE Publications

Year: 2021
Author: UN Sustainable Stock Exchanges initiative
Year: 2021
Author: UN Sustainable Stock Exchanges initiative