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, thereby promoting international financial stability. 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 also 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 the relevant contents in the annual report 2021 – also in the separate non-financial report – on our website and in the sustainability report 2020.