Task Force on Climate-related Financial Disclosures (TCFD)

Recommendations from the Task Force on Climate-related Financial Disclosures (TCFD)

The TCFD was founded by the Financial Stability Board to develop a common framework for reporting on environmental risks and opportunities. Its focus is disclosing financial risks to which the company sees itself exposed as a result of climate change. We regard the TCFD recommendation as a meaningful addition to our previous reporting, especially with its forward-looking elements.

As a supplement to reporting in line with GRI, we are establishing a reference to the TCFD recommendations. In view of the increasing importance of climate change, we are aiming to provide extensive reporting in line with TCFD so as to disclose how to deal with environmental risks and opportunities in a clear fashion.

This year’s reporting already includes some information within the core areas of governance, strategy and risk management recommended by TCFD as well as key figures and targets. The table below refers to corresponding content in the Annual Report 2020 and in this sustainability report, as well as to our website.