From April 2022, over 1,300 of the largest businesses in the UK will have to disclose climate related financial information.
Businesses with more than 500 employees and over £500m turnover will have to report information in line with recommendations from the Taskforce on Climate Related Financial Disclosures including:
- Identifying the principal climate related risks and opportunities arising from the company’s activities
- a description of the actual and potential impacts of the principal climate-related risks and opportunities on the company’s business model and strategy;
- an analysis of the resilience of the company’s business model and strategy, taking into consideration different climate-related scenarios;
- a description of the targets used by the company to manage climate-related risks and to realise climate-related opportunities and of performance against those targets; and
- a description of the key performance indicators used to assess progress against targets used to manage climate-related risks and realise climate-related opportunities.