This article is the third one of our series titled ‘Successfully Implementing TCFD’, explaining the different phases of Finch and Beak’s Task Force on Climate-related Financial Disclosures (TCFD) Roadmap in more detail. This article focuses on the integration of climate scenarios into the business’ strategy, targets & KPIs as well as the need of internal engagement to review the business model and strategy.
Working on the TCFD recommendations and advancing on the integration of its findings will provide an advantage for companies aligning with the upcoming Corporate Sustainability Reporting Directive (CSRD) reporting requirements. The accompanying download gives practical tips to assist your organization in overcoming three barriers that can prevent the successful implementation of TCFD.
There are at least 5 reasons why boards are now so concerned about ESG. First, board members are increasingly accountable for the company’s ESG agenda. Controversies’ examples such as Shell & ClientEarth or Exxon Mobile & Engine No. 1 are important signals of mounting stakeholder pressure on boards. Second, regulations in EU requires boards to approve the company’s non-financial reporting. Third, ISSB’s upcoming standards are recommending board members to be trained on ESG (Environmental, Social & Governance), while such training is already mandatory in Singapore for publicly listed companies. Fourth, companies are increasingly expected to speak up on major societal and environmental issues – the war in Ukraine and the “don’t say gay” bill in Florida are recent examples of that. Boards have a central role in defining the company leadership’s position on such topics. Finally, company culture belong to the board’s many roles, and it is with the right culture that we can hope for the diffusion of an impact-driven mindset throughout one’s entire organization.
Board members’ responsibilities are increasing and yet, ESG rarely makes it to the top of the agenda. How can you, as ESG professionals, change this?
This second article of our series titled 'Successfully Implementing TCFD' provides tips on how to conduct climate scenario analyses, suggesting concrete steps organizations can take in aligning with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The scenario analysis is applied to the risks & opportunities identified as relevant for a company, as discussed in the first article of this series. This article explains how the financial impact of climate change can be determined in different scenarios and the accompanying download gives practical tips to assist your organization in overcoming three barriers that can prevent the successful implementation of TCFD.
On 31st January 2023, Finch and Beak delivered an ESG Acceleration Webinar to elaborate on how Swiss organizations can successfully implement and benefit from their TCFD-related efforts. During the session, Josephin Schulz, TCFD expert at Finch and Beak, and Peregrine Chard, Head of Risk at Ocado Group, outlined how organizations can use the TCFD as a strategic exercise to strengthen their climate-related activities while also sharing valuable hands-on examples and lessons learned. This article summarizes the webinar’s highlights while the download provides three ESG Acceleration Tips for leveraging TCFD.
As Switzerland has adopted an ordinance requiring mandatory climate disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), Swiss companies are required to get up to speed on how to use TCFD to better understand climate risks and opportunities. In this webinar, Peregrine Chard, Head of Risk at Ocado Group shared some practical insights from their inspiring ESG strategy, and Finch & Beak’s TCFD expert Josephin Schulz made the case for why TCFD is beneficial, elaborated on the climate risk analysis process, and shared some best practice tips.
Based on recent developments and insights from its annual ESG Market Survey completed by 160+ European stock listed companies, Finch & Beak's State of ESG 2023 Report outlines four main ESG challenges surfacing in today's dynamic business environment. For companies looking to increase the effectiveness of their sustainability programs and for corporate decision makers looking to prioritize their budgetary limitations, the report suggests how to avoid the ESG reporting trap, leverage TCFD, engage your board better, and improve the insights into your supply chain, while also reflecting on the freshly released Dow Jones Sustainability Index 2022 results.
This article is the first article in our series titled 'Successfully Implementing TCFD', explaining the different phases of Finch & Beak's Task Force on Climate-related Financial Disclosures (TCFD) Roadmap in more detail. This article focuses on the suggested phase of conducting a climate-related risk and opportunity assessment by sharing valuable insights on how to assess and understand climate-related risks and opportunities. The accompanying download provides practical tips to assist your organization in overcoming three barriers that can prevent the successful implementation of TCFD.
With the expected growth of the Communication Services industry, concerns related to energy use, product sustainability, and CO2 emissions are expected to increase, too. For this reason, these issues naturally form part of the top priorities of materiality matrixes of organizations in the industry. Developing a climate strategy provides a great opportunity to activate materiality on these topics and ultimately, reduce companies’ impact on the environment. This article explains how organizations can improve their longevity and resilience by identifying and assessing climate risks and opportunities associated with their business and provides practical steps for developing a corporate climate strategy.
As postal companies face increasing pressure from regulators, society, and investors to act on climate and reduce GHG emissions, intensified net-zero actions and focused climate plans are crucial for the industry. This article elaborates on the ESG maturity of the top five postal companies, selected from a recent Finch & Beak benchmark study, highlights exemplary best-practice TCFD-alignment lessons to be learned, and suggests how companies can make and achieve climate goals by applying the TCFD recommendations.
Participating in ESG ratings such as the S&P Global Corporate Sustainability Assessment (CSA) and CDP can be a great tool to sharpen your sustainability approach. This article elaborates on some of the main ESG challenges that we at Finch & Beak observed in the 2022 CSA cycle, explains why a strong governance structure, double materiality, and implemented TCFD recommendations are great assets in your sustainability toolbox, and suggests steps to take your organization’s sustainability program to the next level.