The UK Government will require more organizations to make TCFD-aligned disclosures over the next three years, following the Green Finance Strategy. Many companies are already choosing to include TCFD-aligned disclosures in their annual reports voluntarily.
Ignite is here to aid your organization in grasping climate-related risks through the Task Force on Climate-related Financial Disclosures. Our goal is to provide clear and actionable information, helping you handle climate change risks and seize opportunities for positive action.
The TCFD offers a helpful framework for assessing climate change’s potential impact on your organization through disclosures. This gives insights into risk identification and management, showcasing your engagement with significant matters. These disclosures, part of your company filing, offer investors, lenders, and insurers a better understanding of your company’s asset value.
If you think your company needs help with your TFCD compliance, please contact us here or call us on 0333 023 2222.
The TCFD frames climate-related information in businesses into four pillars:
The TCFD recommends disclosure on each pillar. It also provides a set of 11 distinct recommended disclosures across the four pillars.
As of April 6th, 2022, the largest UK-registered companies and financial institutions must include climate-related financial disclosures in their main annual reports.
Your organization must comply if it falls under the following criteria:
If your company anticipates the need for obligatory TCFD-aligned disclosures in your annual report, 1st Energy is ready to assist. Contact us to discuss TCFD.
Even if not mandatory, you might consider voluntary TCFD-aligned disclosures. Ignite can conduct a gap analysis of your current disclosures and help optimize their value.
We will assess your current disclosures and align them with TCFD standards to pinpoint any gaps and determine necessary actions.
Our approach involves establishing strong strategies and offering practical insights for climate reporting. We strive to involve all levels of your organization.
TCFD emphasizes both risk management related to climate change and the operational aspects of finances and strategy. Our expert insights support the value assessment of your sustainability strategies through TCFD disclosures.
According to BEIS, the average cost of TCFD compliance is £88,000 annually. Our data-driven approach, integrated into your strategy and operations, offers a more cost-efficient path to fulfilling TCFD disclosure requirements.
Within the four main pillars of TCFD, there are various disclosures and recommendations. Additionally, there are 11 recommended disclosures that apply to all four pillars.
1st Energy assists in fulfilling these TCFD recommendations, aiming for their optimal impact on your organization. The goal is for these recommendations to directly influence decision-making and future strategies.
Part of the TCFD recommendations involves stress-testing your climate change strategy. This means assessing various scenarios, like a two-degree increase in global temperature, to gauge resilience and uncover ways to enhance your planning for different possibilities.
1st Energy is here to assist with scenario analysis. Our experts can model each hypothetical situation, examining the potential consequences. This enables us to suggest improvements for your climate strategy and help you prepare for potential future developments.
While currently not obligatory, staying ahead by aligning your disclosures with TCFD recommendations offers advantages. Begin incorporating these disclosures into your Annual Report. We take care of this procedure on your behalf, ensuring your TCFD disclosures and reports meet the highest standards and fulfill all obligations.
As part of our comprehensive energy management service, we handle TCFD reporting. This approach ensures a well-rounded and future-focused sustainability strategy for your organization. Our expertise lies in pinpointing innovative efficiency projects that contribute to safeguarding your business for the long term.
1st Energy is here to assist you in implementing the necessary disclosures and to turn TCFD into a driver for positive transformation throughout your organization. We offer support in assessing your current position and optimizing the impact of your existing disclosures. Additionally, Climate Scenario analysis, a recognized best practice, is included as a standard feature to fully meet TCFD requirements.
With our track record in energy efficiency projects that yield paybacks in under 3 years, 1st Energy is well-equipped to guide you. Embrace TCFD reporting to revolutionize your approach to energy efficiency and carbon neutrality—reach out to us today.
