Online learning platform offers courses designed to foster higher quality and more consistent climate-related financial disclosures.
LONDON, 10 September, 2019: The Climate Disclosure Standards Board (CDSB) today launched a climate-related financial disclosure e-learning platform designed to help organisations fill the knowledge gap and enhance their disclosures of climate-related information.
Hosted on the TCFD Knowledge Hub, the e-learning courses will be CPD accredited and suitable for companies, investors and finance professionals. Comprising of self-paced, activity- and video- based learning, the courses feature insights and learnings from leading organisations including Unilever, Aviva Investors and Japan’s Financial Services Agency.
The launch of the e-learning courses comes after the Task Force on Climate-related Financial Disclosures (TCFD) published its second Status Report in June this year noting that although disclosures have improved, they still remain far from the scale needed.
“Last year we saw what was arguably the first climate change bankruptcy with PG&E. Now with only 4% of companies disclosing information aligned with at least 10 of the 11 TCFD recommendations to date, we need to scale up high-quality disclosure across the board if we are to combat the most severe consequences of climate change. To do so, report preparers need to upskill to ensure they have the necessary skills and capacity to effectively report disclose in line with the TCFD recommendations and increase the number of disclosures made by their organisation. This in turn will provide investors with the information they need to make informed decisions and effectively manage the risks associated with climate change,” said Mardi McBrien, Managing Director, CDSB.
Developed with insight from industry experts, the courses offer a practical tool to help professionals build their knowledge and are designed to meet the market appetite for more guidance on how to implement the TCFD recommendations. The varied content ensures that the lessons are suitable for a range of audiences – from those who are new to climate-related financial reporting to those who want to build on their existing skillset.
The first course has been created as an introduction to climate-related disclosure. Users will learn about the key components that make up the corporate reporting landscape including the audience, channels and the types of information that should be disclosed. Course two focuses on the TCFD recommendations in more detail. Course three tackles the role of accountants in risk management, financial planning and the application of accounting principles to the disclosure of climate-related information.
“Increasing numbers of companies and investors recognize that climate related-risks are also financial risks. Inaction in tackling climate change could cost companies nearly $1.2 trillion over the next 15 years. The new e-learning courses on the TCFD Knowledge Hub offer organizations an effective and convenient tool to further their understanding of the financial impact of climate-related risks and help them take steps to integrate such disclosures into their existing reporting processes,” said Mary Schapiro, Special Advisor to the TCFD Chair and Vice Chair for Global Public Policy at Bloomberg LP.
The first three courses are now live on the TCFD Knowledge Hub and more courses will launch over the coming months.
To view the e-learning courses, visit: learn.tcfdhub.org
About CDSB
The Climate Disclosure Standards Board (CDSB) was founded in 2007 and is an international consortium of business and environmental NGOs committed to advancing and aligning the global mainstream corporate reporting model to equate natural capital with financial capital. It does so by offering companies a framework for reporting environmental and climate information with the same rigour as financial information. In turn, this helps them to provide investors with decision-useful environmental and climate information via the mainstream corporate report, enhancing the efficient allocation of capital. Regulators also benefit from compliance-ready materials. Collectively, CDSB aim to contribute to more sustainable economic, social, and environmental system.
CDSB hosts the TCFD Knowledge Hub on behalf of the Task Force on Climate-related Financial Disclosures.
To learn more about CDSB and download the framework, please visit www.cdsb.net. Follow CDSB on LinkedIn and Twitter.
About the Task Force on Climate-related Financial Disclosures
On December 4, 2015, the Financial Stability Board (FSB) established the industry-led Task Force on Climate-related Financial Disclosures (TCFD) with Michael R. Bloomberg as Chair. The Task Force currently has three Vice Chairs and 29 members in total. The TCFD was asked to develop voluntary, consistent climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders, which were published in the TCFD Recommendations Report on June 29, 2017. More information about the TCFD can be found at www.fsb-tcfd.org.
Media Contacts
Lesley McKenna, Communications & Marketing Manager, CDSB
+44 (0) 7825 409 060
+44 (0) 203 818 3939
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