The TCFD recommendations recommend disclosure of the climate-related risks and opportunities identified, the impact of such risks and opportunities on the issuer's businesses, strategy and financial planning (under the “Strategy” pillar), as well as the use of metrics and targets to assess and manage climate-related risks and opportunities (under the “Metrics and Targets” pillar).
In light of the increasing investors' awareness on the impact of climate change, integrating climate-related risks into the issuers' regular risk management processes has become an important part of maintaining a competitive edge in the dynamic and rapidly evolving markets. Disclosure of significant climate-related risks should at least include both physical risks and transition risks, and disclosure of mitigation plans should describe specific actions taken to manage climate-related issues, as well as metrics/indicators used and targets set by the board to measure and track the issuer's progress towards its sustainability goal.
Examples 1 to 3 expressly referred to the TCFD recommendations in the disclosures.