Climate Risk Reporting: Unpacking TCFD’s guidelines

As climate risk continues to mainstream across financial markets, Asia’s regulatory bodies have raised the bar on ESG (environment, social and governance) disclosure for listed companies.  

Singapore’s and Hong Kong’s bourses – who already require ESG reporting – are now shifting toward an increased focus on mandatory climate risk reporting and diversity disclosures. Banks in Hong Kong are expected to start disclosing their exposures to climate risk in line with guidelines from the international Task Force on Climate-related Financial Disclosures (TCFD) from mid-2023), which will become mandatory in 2025. In December 2021, the Singapore Exchange (SGX) also mandated climate and board diversity disclosures.

The focus for our upcoming Lunch & Learn session will be on the alignment of ESG disclosures with the recommendations by TCFD. Our aim for this short 60-minute session is to enable participants to understand the following:

• The need for climate risk reporting and a framework that is robust and measurable
• The relationship between ESG / sustainability reporting and climate risk reporting
• What the TCFD framework recommendations entail for reporting companies
• What are the key steps involved and considerations?

This session is aimed at benefiting representatives of listed issues in Asia who wish to understand climate risk reporting in greater detail, many of whom may already be anticipating growing disclosure requirements on their organization with regards to climate risks.