Climate-related financial disclosure reporting (TCFD)
Governance - Reporting climate-related financial disclosures
Guide
Within the Task Force on Climate-related Financial Disclosures (TCFD) framework, governance disclosures should enable an understanding of how climate change risks and opportunities are identified, considered, and managed within the governance structure of your business.
| What TCFD recommends on governance | |
|---|---|
| Recommendation | Disclose the business’ governance around climate-related risks and opportunities. |
| Key aspects | Describe the board’s oversight of climate-related risks and opportunities. |
| Describe management's role in assessing and managing climate-related risks and opportunities. | |
This checklist will support you through the governance area of TCFD's recommendations covering organisational structures and processes. It provides the information you should know and suggests actions, including further resources and guidance to help you.
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Governance - Suggested actions
Consider how risks and opportunities are currently managed in your business by asking questions such as:
- Has your business assigned climate-related responsibilities at management-level positions?
- What processes are in place to inform management about climate-related issues and at what frequency?
- How do the management team monitor climate-related issues?
- Are climate-related issues considered when reviewing and guiding strategy, major plans of action, risk management policies, annual budgets, investments and business plans?
- How does the board/management team monitor and oversee progress against goals and targets for addressing climate-related issues?
You can download the full guide on Climate Change Resilience for Businesses in Northern Ireland (PDF, 1.4MB).
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