As you may be aware ‘TCFD’ is the climate related disclosure framework the FCA is now using to gather information on how companies are responding to climate change – and specifically the need to reduce greenhouse gas emissions.

On 29 June 2022 the FCA published its first review of activities, 12 months after its adoption.

You can view the information the FCA published on 29 July 2022 here.

The publish text begins as follows:

Review of TCFD-aligned disclosures by premium listed commercial companies

• Increasing transparency on climate and wider sustainability risks and opportunities is a key priority under our ESG Strategy. We introduced a climate-related disclosure rule for premium listed issuers as a first step to improving the quality and quantity of disclosures across the corporate sector. We outline here our preliminary observations following an assessment of the first climate-related disclosures made in line with our rule and reiterate our expectations. We also refer to better practice examples highlighted in the Financial Reporting Council’s complementary review to help companies improve their disclosures….

The FCAs own  (first) TCFD report on 22 July 2022.

• You can download it from the following link:  https://www.fca.org.uk/publication/annual-reports/climate-financial-disclosures-2021-22.pdf
• You can download the FCA 2022 – 23 Business Plan here: https://www.fca.org.uk/publications/business-plans/2022-23
• https://www.fca.org.uk/publications/multi-firm-reviews/tcfd-aligned-disclosures-premium-listed-commercial-companies