Major Players Across Chemical and Electric Utility Sectors Share TCFD implementation Experience

GENEVA, July 16, 2019 /PRNewswire/ -- Today, through collaboration with the World Business Council for Sustainable Development (WBCSD), eleven leading companies across chemical and electric utility sectors provide an in-depth look at climate-related financial disclosure in two landmark reports.

As part of the Task Force on Climate-related Financial Disclosures (TCFD) Preparer Forums for Chemicals and for Electric Utilities, AkzoNobel, BASF, DSM, Solvay, Sumitomo Chemical and CLP, EDF, EDP, EnBW, Enel, Iberdrola share examples, learnings and reflections in: "Climate-related financial disclosure by chemical companies: implementing the TCFD recommendations" and "Disclosure in a time of transition: climate-related financial disclosure and the opportunity for electric utilities" respectively.

These reports, in conjunction with other TCFD Preparer Forums, aim to help companies implement the TCFD's recommendations on climate-related financial disclosure.

"The TCFD is an important catalyst accelerating action on climate change and movement towards a financial system that properly values and rewards sustainable business practices, mobilizing capital to deliver a low-carbon world, realized through sectoral, regulatory and capital market collaboration and engagement." said Peter Bakker, President and CEO at WBCSD.

The reports released today highlight how electric utility and chemical sectors are implementing the TCFD recommendations, responding to climate-related risks and opportunities. The reports showcase examples of effective disclosure practice across governance, strategy, risk management, metrics and targets.

Highlights include:

• Illustrative climate-related financial metrics for electric utilities and chemical companies
• The integration of climate-related risks and opportunities into enterprise risk management and governance processes
• An illustrative scenario analysis approach for chemical companies with specific insights relevant to the sector
• Strategic responses to climate change and the energy transition realized through innovation and portfolio development
• Perspectives and insights from users including equity and credit analysts

Building on the efforts of the TCFD Oil & Gas, Electric Utilities and Chemicals Preparer Forums, WBCSD is now initiating TCFD Preparer Forums for companies involved in construction & building materials: ArcelorMittal, CRH, LafargeHolcim, Lendlease, Saint-Gobain and Skanska and food, agriculture & forest products: Mondi, Nestlé, Olam, Unilever, Stora Enso and Syngenta. 

Notes to Editors

About the World Business Council for Sustainable Development (WBCSD)

WBCSD is a global, CEO-led organization of over 200 leading businesses working together to accelerate the transition to a sustainable world. We help make our member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment and societies.

Our member companies come from all business sectors and all major economies, representing a combined revenue of more than   USD $8.5 trillion and 19 million employees. Our global network of almost 70 national business councils gives our members unparalleled reach across the globe. WBCSD is uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues.

Together, we are the leading voice of business for sustainability: united by our vision of a world where more than 9 billion people are all living well and within the boundaries of our planet, by 2050. http://www.wbcsd.org

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For more information, please contact:
Juliet Taylor
taylor@wbcsd.org
+41 22 839 3162