In today’s climate landscape, climate risks are business risks.
That’s why the risk management pillar of the Task Force on Climate-related Financial Disclosures (TCFD) tackles how an organization identifies, assesses, and manages climate risks and how those risks relate to an organization’s other business risks. It gives an organization the opportunity to demonstrate to investors and other stakeholders how it systematically integrates climate-related risks into its existing core risk management processes.
Risk management complements the governance and strategy pillars and prepares businesses for the metrics and targets pillar. In this white paper, we illustrate how to best tackle climate-related risks and opportunities, with reference to the recommendations of the TCFD. We also explore the obstacles that organizations can face when developing a climate strategy and use real-world examples to guide you on your climate journey.
