2023
October 2023Task Force fulfills remit
The Task Force on Climate-related Financial Disclosures has fulfilled its remit and disbanded. The Financial Stability Board has asked the IFRS Foundation to take over the monitoring of the progress of companies’ climate-related disclosures.
October 20232023 status report
The Task Force launches its sixth and final report, highlighting steady momentum in companies disclosing TCFD-aligned information
2022
November 20224,000+ supporters
The number of TCFD supporters surpasses 4,000 organizations from 100+ countries with a combined market capitalization of $27 trillion.
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October 20222022 status report
The Task Force launches its fifth status report, finds percent of companies disclosing TCFD-aligned information steadily increased since 2017.
April 2022EFRAG launches draft sustainable reporting standards
EFRAG launches a public consultation on the draft European Sustainable Reporting Standards, which include disclosure requirements that correspond with the pillars of the TCFD recommendations.
March 2022ISSB publishes exposure drafts
The International Sustainability Standards Board (ISSB) publishes two exposure drafts: sustainability-related disclosure standards and climate-related disclosure standards. Both build upon the TCFD Recommendations; the latter covers elements of all 11 recommended disclosures.
January 20223,000+ supporters
The number of TCFD supporters surpasses 3,000 organizations from 92 countries with a combined market capitalization of $27.2 trillion, illustrating how support for the TCFD recommendations continues to increase around the world.
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2021
November 2021Formation of the ISSB
The International Financial Reporting Standards Foundation (IFRS) announces the formation of the International Sustainability Standards Board (ISSB), which intends to use the TCFD and other frameworks as a basis for its work.
October 20212021 status report
The Task Force launches its fourth status report, guidance on metrics, targets, and transition plans, and revised implementation guidance.
July 2021G7 and G20 pledge
The G20 pledges to promote implementation of disclosure requirements based on the TCFD framework in line with domestic regulatory frameworks, a month after the G7 makes a similar announcement.
2020
October 20202020 status report
The TCFD releases its 2020 Status Report, which describes the progress companies are making in the implementing the TCFD recommendations.
February 20201,000+ supporters
The number of TCFD supporters surpasses 1,000, signifying a major shift among market participants in acknowledging that climate change presents a financial risk.
2019
October 2019Inaugural TCFD Summit
The government of Japan hosts the first-ever TCFD Summit in Tokyo.
June 2019Second status report
In 2019, the Task Force releases its second status report and forms an industry advisory group to assist in developing practical guidance for conducting climate scenario analysis.
April 2019Central bank support
The Network for Greening the Financial System (NGFS), a group of 72 central banks and supervisors, encourages companies to disclose climate risks in line with the TCFD recommendations.
2018
September 2018First status report
The TCFD publishes its first status report on current disclosure practices, sharing investor perspectives on decision-useful disclosures and areas for improvement.
May 2018TCFD Knowledge Hub
The TCFD launches the TCFD Knowledge Hub in collaboration with the Climate Disclosure Standards Board (CDSB).
2017
June 2017TCFD recommendations released
After issuing a series of draft reports, the Task Force releases its final climate-related financial disclosure recommendations, which promote transparency leading to better climate-risk management. One hundred CEOs sign a statement of support for the TCFD.
2016
December 2016Draft recommendations released
The TCFD issues draft recommendations for climate-related financial disclosure, inviting public feedback during a 60-day consultation period.
January 2016TCFD members announced
The FSB selects an initial group of 29 representatives from various organizations, including large banks, insurance companies, asset managers, pension funds, large non-financial companies, accounting and consulting firms and credit rating agencies. The Task Force begins its work.
2015
December 2015TCFD created
The Financial Stability Board, under former Chair and Bank of England Governor Mark Carney, establishes the Task Force to help identify the information needed by investors, lenders, and insurance underwriters to appropriately assess and price climate-related risks and opportunities.
April 2015FSB considers climate
The G20 Finance Ministers and Central Bank Governors ask the Financial Stability Board (FSB) to review how the financial sector can take account of climate-related issues. As part of its review, the FSB identifies the need for better information to support informed investment, lending, and insurance underwriting decisions and improve understanding and analysis of climate-related risks.
