What is the TCFD and How will it Shape American Business?

DURHAM, N.C., Feb. 23, 2021 /PRNewswire/ -- The Climate Service (TCS), a leader in climate risk analytics, today published a Q&A with COO Joseph Lake conveying the fundamentals of the Task Force on Climate-related Financial Disclosures (TCFD) framework for assessing and disclosing climate risk. A resource for journalists, researchers, and industry professionals, the piece covers five things that American businesses should know about the TCFD. 

As support for the TCFD grows around the world, discussion about the reporting framework is coming to the fore in the United States. Several indicators suggest the US may soon follow in the footsteps of New Zealand, the United Kingdom, and others, in mandating climate risk reporting in line with the TCFD.

Before joining TCS as Chief Operating Officer, Joseph Lake was the Managing Director for Climate Risk at The Economist where he launched The Economist's inaugural Climate Risk Summit and led The Economist Intelligence Unit's (EIU) climate risk consulting services. 

Founded in 2017, TCS has developed a software as a service product, the Climanomics® platform, to support reporting and disclosure aligned with the TCFD framework. The platform enables measurement and reporting of transition and physical risks and opportunities, in financial terms, under different climate scenarios. It evaluates assets anywhere in the world and projects over time horizons of 1-80 years. 

Today, the platform is trusted by clients including the world's largest banks, asset managers, real estate investors, Fortune 500 firms, and public bodies including the US Federal Government. In recent months, TCS announced collaborations with IBM and Aon and several other industry-leading companies, that have allowed the company to scale to meet unprecedented demand.

Read the full QA on the TCFD by clicking here.

About The Climate Service 
Backed by an advisory board including four IPCC Nobel Prize-winning scientists, and strategic partners including Aon and IBM, The Climate Service has developed a software as a service product, the Climanomics® platform, to support reporting and disclosure aligned with the TCFD framework. Our company's goal is to help investors, companies, and communities to understand their risks from the changing climate, and the opportunities from a transition to a low-carbon economy. Our mission is to embed climate risk data into every decision on the planet and facilitate the world's transition to a low-carbon economy.

Contact: Julianne Hogan, [email protected]

SOURCE The Climate Service

Related Links

https://www.theclimateservice.com/