What is the TCFD Mandate, and which businesses does it apply to?

Q

What is the TCFD Mandate, and which businesses does it apply to?

A

On 6 April 2022, it became mandatory for large businesses in the UK to include specified information on climate risks in their annual reporting. This information must comply with the recommendations of the Task force on Climate-related Financial Disclosures (TCFD). Businesses which do not comply could face fines of between £2500 and £50,000.

The TCFD was created by the Financial Stability Board, an international body that monitors and makes recommendations about the global financial system.

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