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ARTICLE · 03 NOVEMBER 2021

TCFD: Tie Board & Management Compensation To Climate Goals + 6 More New Metrics

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On October 14, the TCFD released updated guidance (the Guidance) regarding Metrics & Targets and transition plans.

CanadaEnvironment
Kristyn Annis
Kristyn Annis
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Recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD) and its eleven climate-related financial disclosures (the Recommended Disclosures) are quickly becoming the globally accepted framework for reporting climate-related financial risks and opportunities. 

On October 14, the TCFD released updated guidance (the Guidance) regarding Metrics & Targets and transition plans. In this article we review the Guidance, and introduce the TCFD reporting framework (the TCFD Framework) to those who may not be familiar with it. 

New guidance for Metrics & Targets, transition plans

The TCFD identifies two categories of climate-related metrics (Climate Metrics): cross industry and industry specific. The Guidance identifies seven categories of cross-industry Climate Metrics that are derived from the 11 Recommended Disclosures. All firms (organizations, companies or other entities) should disclose these revised and new Climate Metrics as soon as

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