What Task Force on Climate-related Financial Disclosures-TCFD is all about?
The Task Force on Climate-Related Financial Disclosures (TCFD) was set up in 2015 by the Financial Stability Board (FSB) to develop voluntary, consistent climate-related financial risk disclosures for use by companies, banks, and investors in providing information to stakeholders.
Increasing the amount of reliable information on financial institutions’ exposure to climate-related risks and opportunities will strengthen the stability of the financial system, contribute to greater understanding of climate risks and facilitate financing the transition to a more stable and sustainable economy
Better access to data will enhance how climate-related risks are assessed, priced, and managed. Companies can more effectively measure and evaluate their own risks and those of their suppliers and competitors. Investors will make better informed decisions on where and how they want to allocate their capital. Lenders, insurers and underwriters will be better able to evaluate their risks and exposures over the short, medium, and long-term.
In this workshop, we will wonder: "What the Task Force on Climate-Related Financial Disclosures is all about?".
After a presentation of Climate-Related Financial Disclosures and its link to European Union Regulation, by Elina Kamppi, Head of Sustainability, Finanssiala, we will go to the case of Varma Pension Company which has implemented TCFD, presented by Katariina Sillander, Team Leader, Communications and Sustainability and Vesa Syrjäläinen, Responsible Investment Analyst. We will conclude the session with Q&A with the audience.
The session is animated by Hanna Silvola, Associate Professor in Accounting, Hanken School of Economics.