Three takeaways from our TCFD and sustainability/ESG reporting event

Thanks to everyone who joined our webinar - ‘Insights into inspirational sustainability and TCFD reporting’, held on Tuesday, April 12th.

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Friend

Thanks to everyone who joined our webinar - ‘Insights into inspirational sustainability and TCFD reporting’, held on Tuesday, April 12th.

Guest speaker Kate Woodhead from Standard Chartered shared her insights into the bank’s reporting journey and approach, while Friend’s Clive Bidwell, Nick White and Alex Nichols offered their perspectives on ‘year one’ of TCFD reporting, the growing profile of sustainability and ESG in annual reports, and what the future holds.

Three big takeaways from the event:

1. TCFD is being taken seriously
This is the first year of mandatory TCFD reporting, and it’s clear that FTSE 100 reporters have risen to the challenge. The majority offer detailed, meaningful disclosures, although it must be said that current practice varies significantly between sectors, with financial services and high-emission business often going the extra mile.

2. Reporting reflects a societal shift on sustainability/ESG
As the world wakes up to the severity of the global climate crisis, annual reports are changing accordingly. In 2022, it’s much more common to find sustainability content outside of its traditional section, often featuring in strategy, marketplace, risk and even governance. Several companies have also started incorporating sustainability, particularly climate change mitigation, into their brand and messaging.

3. It doesn’t hurt to go back to basics
All sustainability reporters are aware of the impenetrable alphabet soup of standards, benchmarks and regulation that’s sprung up over the past couple of decades. While seeking to align reporting with the most relevant of these is a laudable goal, it can be a smart move to take a step back and think about what and who your reporting is really for. Increasingly formalised processes can mean it’s hard to ‘turn the ship around’, but doing so can be well worth it.

If you’d like to see a recording of this seminar, or would like to be invited to future events, please do get in touch here

Written by
Friend