The Governor says the financial sector must help the transition to ‘net zero’ (a neutral carbon footprint). Businesses need to keep improving their disclosure of climate risks. To support that aim, he says the Task Force on Climate-related Financial Disclosures (TCFD) should:
- share best practice to increase the quantity and quality of climate related disclosures
- give a definitive view on what is a high quality disclosure
- spread knowledge on how to measure and use information on strategic resilience more widely
- consider how asset owners should disclose how well their portfolios are placed for the transition to net zero.