On 31st January 2022, the Climate Disclosure Standards Board (CDSB) was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB). While this site and its resources remain relevant for preparers looking to improve sustainability disclosure until such time as the ISSB issues its IFRS Sustainability Disclosure Standards on such topics, no further work or guidance will be produced or published by CDSB. For further information please visit the IFRS website.

The building blocks

Connecting CDP data with the CDSB Framework to successfully fulfil the TCFD Recommendations

The building blocks: Connecting CDP data with the CDSB Framework to successfully fulfil the TCFD Recommendations
Reporting on climate-related risks and opportunities in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in the mainstream report should not be seen as novel or daunting. After all, over 8000 companies, including the majority of the world’s largest, disclosed to CDP through its climate change questionnaire in 2019. While the information provided in a CDP response covers much of the same ground as the TCFD recommendations, it is essential for these material climate-related financial disclosures to be included in the mainstream report to meet the expectations and recommendations of the TCFD. The CDSB Framework provides the best means for doing this. 

This paper highlights the most relevant CDP climate change questions and explains how this information can be best used for reporting in the mainstream report using CDSB’s reporting principles and requirements, clearly setting out for companies the how and what of making effective climate-related financial disclosure. The paper further offers an illustrative list of TCFD-relevant questions from CDP’s forests and water security questionnaires. 

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Structure of the paper:  

  • Purpose and background for disclosing climate-related financial information  
  • The four TCFD recommendations and the most relevant CDP climate change questions and corresponding CDSB reporting principles and requirements 
  • Important considerations in preparing your TCFD disclosures for the mainstream report