Task Force for Climate-Related Financial Disclosures

The Task Force on Climate-related Financial Disclosures (TCFD) was established in 2016 by the G20’s Financial Stability Board to better understand and promote disclosure of climate-related financial risks. In 2017, the TCFD published recommendations for the voluntary disclosure of such risks, for use by companies and financial institutions in providing information to investors, lenders, insurers and other stakeholders. The TCFD recommended preparing this disclosure under four high-level pillars: (i) governance, (ii) strategy, (iii) risk management, and (iv) metrics and targets. The EBRD became a supporter of the TCFD in March 2018 and was the first multilateral development bank (MDB) to sign up to this key initiative.

Since then the Bank has been publishing TCFD reports every year.