Climate-Related Financial Disclosure in Supporting SDGs

Abstract

This paper focused on the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosure (TCFD) on the key information that must be disclosed in the climate-related financial report in order for the report to be useful and the organization’s environmental, social, and economic impacts to be appropriately governed. To support and implement the United Nations 2030 Sustainable Development Goals (SDGs) Agenda, the TCFD listed governance, strategy, risk management, and metrics and targets as the primary topics that must be presented in the climate-related financial report. Various TCFDs, United Nations and significant research on SDGs, sustainable reporting, and climate-related financial disclosures were referenced to critically review the TCFD’s recommendations, as well as the benefits and implementation issues of the recommendations. It was decided that the TCFD’s guidelines are vital and useful for monitoring organisations’ climate-related operations. The TCFD recommendations guidelines must be tightened to avoid the dangers of information inaccuracies and needless lawsuits; only then can the proposal to adopt it as reporting rules benefit diverse impacted parties