513 organisations now support the TCFD recommendations, 457 of them with a collective market cap of $7.9 trillion. But few are yet acting to report financial risk.
TCFD press release on publication of its 2018 Status Report: The growing list of 513 TCFD supporters includes 287 financial and 170 non-financial companies, with a combined market capitalization of $7.9 trillion. The supporting financial firms are responsible for assets of nearly $100 trillion. Supporters also include 56 other organizations, such as trade associations, financial and insurance supervisors and regulators, governments and ministries. While most supporters are headquartered in Europe (249) or North America (119), recent support has also grown in Asia (71) and Australia and New Zealand (42). In total, supporters are spread across 44 countries. The Task Force’s2018 Status Report shows that companies are on the right track with disclosing climate-related information, but further work needs to be done.”
This is the area, in my view, with the best potential quickly to unlock the “clean trillion” ($ pa investment) of capital needed for global compliance with the Paris Agreement. Results to date clearly suggests governments need to make financial climate-risk disclosure mandatory.
Images: from report