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It highlights mounting evidence that climate change creates financial risk for the global economy and emphasizes transparency to support resilient, informed capital allocation. The report reviews over 1,000 companies, noting disclosure improvements for some recommendations, while stressing the need to accelerate toward market-scale disclosures. It also details an action call linked to Paris Agreement goals and upcoming efforts for implementation encouragement and a third status report.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/2019-status-report-june-2019-task-force-on-climate-related-financial-disclosures-tcfd/502875/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/2019-status-report-june-2019-task-force-on-climate-related-financial-disclosures-tcfd/502875.png","ImageObject",300,407,{"name":92,"@type":93},"A glass of water","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-17","2026-10-03",true,{"@type":102,"interactionType":103,"userInteractionCount":81},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What is the purpose of the 2019 status report for the TCFD?","Question",{"text":112,"@type":113},"It presents progress on how companies disclose climate-related risks and opportunities since the final TCFD recommendations were released in June 2017.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What evidence does the report cite regarding climate change and financial risk?",{"text":117,"@type":113},"It states that climate change poses financial risk to the global economy and references delays in tackling the issue as costly for companies.",{"name":119,"@type":110,"acceptedAnswer":120},"What progress has been observed, and what challenge remains?",{"text":121,"@type":113},"The report says reviews of over 1,000 companies show increases in some recommended disclosures, but overall disclosure remains far from the scale markets need and must be accelerated.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},502875,1791701650,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":81,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},962090760832,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","2019 Status Report  \nTask Force on Climate-related Financial Disclosures:  \nStatus Report  \nJune 2019  \nMay 31, 2019  \nMr. Randal Quarles Chair  \nFinancial Stability Board  \nBank for International Settlements Centralbahnplatz 2  \nCH-4002 Basel Switzerland  \nDear Chair Quarles,  \nIt is my pleasure to present the second status report of the Task Force on Climate-related Financial Disclosures (TCFD) . This report focuses on the continued progress of companies in disclosing information on climate-related risks and opportunities since the release of the final TCFD recommendations in June 2017.  \nIncreasingly, we see evidence and acknowledgement that climate change presents financial risk to the global economy. According to the United Nations, delays in tackling this issue could cost companies nearly $1.2 trillion over the next 15 years.  \nThe relevance of climate-related risks to today’s financial decisions and the need for greater transparency have only become clearer and more urgent over the past two years. Nearly 800 public-and private-sector organizations have announced their support for the TCFD and its work, including global financial firms responsible for assets in excess of $118 trillion.  \nI applaud the recent acknowledgement from the Network for Greening the Financial System (NGFS), a group of 36 central banks and supervisors, that “climate-related risks are a source of financial risk [and it] falls squarely within the mandates of central banks and supervisors to ensure the financial system is resilient to these risks.” As one of their six key recommendations to foster a resilient financial system, the NGFS highlighted the importance of disclosure and encouraged companies to disclose in line with the TCFD recommendations.  \nIn this report, the Task Force finds that important progress is being made. Our review of over 1,000 companies showed that, for some recommended disclosures, the percentage of companies disclosing information increased up to nearly 15% over a two-year period. The results of our survey indicate that many companies are putting significant thought and effort into implementing the recommendations, and that many investors have seen this work pay off in the form of increases in the availability and quality of disclosure.  \nHowever, progress must be accelerated. Today’s disclosures remain far from the scale the markets need to channel investment to sustainable and resilient solutions, opportunities, and business models. I believe in the power of transparency to spur action on climate change through market forces.  \nThe Task Force remains committed to market transparency and stability. Over the next year we look forward to continuing to encourage and facilitate implementation of the TCFD recommendations, to making further progress on this critical work, and to providing you with a third status report next year. Thank you for your support of the Task Force.  \nSincerely,  \nMichael Bloomberg  \nExecutive Summary  \nIn June 2017, The Task Force on Climate-related Financial Disclosures (Task Force or TCFD) released its final recommendations (2017 report), which provide a framework for companies and other organizations to develop more effective climate-related financial disclosures through their existing reporting processes.1 In its 2017 report, the Task Force emphasized the importance of transparency in pricing risk—including risk related to climate change—to support informed, efficient capital-allocation decisions.2 The large-scale and complex nature of climate change makes it uniquely challenging, especially in the context of economic decision making. Furthermore, many companies incorrectly view the implications of climate change to be relevant only in the long term and, therefore, not necessarily relevant to decisions made today. Those views, however, have begun to change.3  \nA Call to Action  \nBased on a recent report issued by the Intergovernmental Panel on Climate Change, a global group of climate scientists co","cbCaicDkUeIqGKXo","https://ap.wps.com/l/cbCaicDkUeIqGKXo","pdf",8004130,144,"English","# Executive Summary\n# A Call to Action","[{\"question\":\"What is the purpose of the 2019 status report for the TCFD?\",\"answer\":\"It presents progress on how companies disclose climate-related risks and opportunities since the final TCFD recommendations were released in June 2017.\"},{\"question\":\"What evidence does the report cite regarding climate change and financial risk?\",\"answer\":\"It states that climate change poses financial risk to the global economy and references delays in tackling the issue as costly for companies.\"},{\"question\":\"What progress has been observed, and what challenge remains?\",\"answer\":\"The report says reviews of over 1,000 companies show increases in some recommended disclosures, but overall disclosure remains far from the scale markets need and must be accelerated.\"}]","2019 Status Report - June 2019 - Task Force on Climate-related Financial Disclosures (TCFD) | PDF",1791045100,363]