Coillte Announces Support for the Task Force on Climate-related Financial Disclosures
Coillte joins more than 2,500 organizations around the world in publicly supporting the TCFD recommendations
Coillte has today declared its support for the Task Force on Climate-related Financial Disclosures (TCFD), joining more than 2,500 organizations in demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures.
The announcement was made by Coillte’s CEO Imelda Hurley when she spoke at Climate Finance Week 2021.
Supporters of the TCFD span the public and private sectors and include national governments, central banks, stock exchanges, credit rating agencies, financial organisations and private sector businesses from a variety of industries.
Widespread implementation of the TCFD recommendations will provide investors, lenders and insurance underwriters with consistent and relevant information to understand the economic risks and opportunities resulting from climate change. Increased disclosures in line with the recommendations across sectors and geographies will help global markets make more efficient capital allocation decisions and adjust appropriately to the disruptive effects of global climate change.
Implementing the TCFD recommendations provides companies with:
- Easier or better access to capital by increasing investors’ and lenders’ confidence that climate-related risks are appropriately assessed and managed,
- Better ability to meet existing disclosure requirements by reporting material information in financial filings,
- Increased awareness and understanding of climate-related risks and opportunities, resulting in better risk management and more informed strategic planning, and
- The ability to proactively address investors’ demand for climate-related information in a framework that investors are increasingly asking for.
For more information about the Task Force on Climate-related Financial Disclosures, please visit www.fsb-tcfd.org.