Bloomberg’s Task Force on Climate-related Financial Disclosures (TCFD) will develop “voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders”.
The initiative is the brainchild of the Financial Stability Board (FSB), an international body working on financial regulation that is chaired by Bank of England governor Mark Carney.
Speaking at COP21 Carney said: “Access to high quality financial information will allow market participants and policymakers to understand and better manage those risks, which are likely to grow with time.
