Task Force for Climate-Related Financial Disclosures 2023

In 2023, the European Bank for Reconstruction and Development (EBRD) continued to act as a catalyst for the low-carbon transition across the economies in which it operates. As a leading provider of climate finance, with established governance overseeing climate-related risks and opportunities, the Bank considers and assesses climate adaptation and mitigation in all of its investment decisions. The EBRD has been committed to applying the recommendations of the Task Force for Climate-Related Financial Disclosures (TCFD) and reporting on its progress since 2020. In this, its fifth TCFD report, the Bank presents its evolution, achievements and progress on integrating climate-related financial risks and opportunities into its strategy, policies and operations. As climate risk practices continue to develop, the availability of sophisticated tools and comprehensive datasets increases and regulatory frameworks become more established, the EBRD will continue to reflect evolving expectations and guidance.