Environmental disclosures are set to attract greater scrutiny as policymakers put pressure on financial institutions to consider new types of risks. In the UK, the government has already made the Task Force on Climate-related Financial Disclosures (TCFD) mandatory for financial institutions as of the end of 2021.
The framework, created in 2017, has gained the support of some of the world’s largest financial groups — but not all, however. And out of the banks that did endorse TCFD, not all have begun disclosing, according to a recent study by BCS Consulting.
