TCFD 2020 status update

Just as asset managers and other "financial market participants" begin to grapple with the EU Sustainable Finance Disclosure Regulation, its never-ending list of "principal adverse indicators" and wide-ranging disclosure obligations, they are reminded once again of the mountain to climb in front of them by the TCFD.

The 2020 Status Report, while noting the ongoing momentum behind the voluntary reporting standard, calls out asset managers in particular for what is perceived as a lack of reporting on climate-related risks that provides clients with the right information to make informed choices. 

The scrutiny on the financial sector feels higher than ever before, and while they may rightly be able to point to the challenges they themselves face in obtaining the desired information, now is the time for action.