SwanCap declared its support for the Task Force on Climate-related Financial Disclosures (TCFD), joining market leading organizations in demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures.
The TCFD, chaired by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, provides market participants with recommendations to address the financial impact of climate change on their business. By increasing transparency on financially material climate-related risks and opportunities the recommendations promote more informed financial decision-making by investors, lenders and others.
Supporters of the TCFD span the public and private sectors and include national governments, central banks, stock exchanges, credit rating agencies, financial organizations and private sector businesses from a variety of industries.
Florian Kreitmeier, Co-CEO & Managing Partner at SwanCap: “We believe that climate change is one of today´s biggest societal challenges. It has a material impact on natural as well as human systems and as such also entails increased risks for companies and organizations. In addition to risks, climate change creates enormous opportunities. Understanding how companies will be affected and how they can cope with the related challenges and opportunities will be vital to allow investors to value investments and make informed investment decisions. Consistent standards and information on climate-related risks and opportunities is pivotal for better risk assessment and decision-making. SwanCap fully supports the recommendations of the Task Force on Climate-related Financial Disclosures.”
Widespread implementation of the TCFD recommendations will provide investors, lenders and insurance underwriters with consistent and relevant information to understand the economic risks and opportunities resulting from climate change. Increased disclosures in line with the recommendations across sectors and geographies will help global markets make more efficient capital allocation decisions and adjust appropriately to the disruptive effects of global climate change.
Guglielmo Katte Klitsche de la Grange
Legal & Compliance Officer
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 four Vice Chairs and 31 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.