The European Bank of Reconstruction and Development has joined forces with the Global Centre of Excellence on Climate Adaptation to advance financial market action on disclosing physical climate risks and resilience opportunities they face. This work is supported by partners from the finance, corporate and regulatory sectors. Findings are presented in the report “Advancing TCFD guidance on physical climate risks and opportunities”.
Weather records continue to be broken with relentless frequency. The impacts of a changing and more variable climate are becoming ever more apparent. This new climate reality is creating physical risks, but also opportunities that affect both companies and financial institutions.
Therefore, there is an urgent need for better market information to enable business and finance to factor physical climate risks into their operations, decision-making and financial reporting. The TCFD recommendations on climate-related financial disclosures are already transforming the way that markets respond to climate change.
We need to build on the TCFD recommendations and develop ways of disclosing physical climate risks and resilience opportunities in financial reporting. This requires better data, clear metrics and well-informed strategic planning. It also requires common ground rules that are understood and accepted across the market. This conference is a key milestone in the journey towards that.
Head, Impact & Reporting, Group Sustainability
Standard Chartered Bank
"Getting physical climate risk right will take time, but we must start the process now"
"The risks from physical climate change to financial stability deserve more attention"
Global Head of Resilience & Sustainability
"Why TCFD is ultimately about helping business make better decisions"
To be announced
“Advancing TCFD guidance on physical climate risks and opportunities"
This section presents the event material from the conference, Advancing TCFD Guidance on Physical Climate Risks and Opportunities, hosted at the EBRD on May 31st, 2018.
Managing the risk from Climate Change - a video from the recent EBRD & GCECA Event
By EBRD Press
EBRD, GCECA publish recommendations on physical climate impacts in financial reporting
By EBRD Press
EBRD and the GCECA are proud to be collaborating with a wide range of partners on this important topic, and would especially like to acknowledge the important contributions made by the following organisations: