UK Government announces intention to mandate climate disclosure by large companies and financial institutions across the economy by 2025

CDSB welcomes mandatory implementation of climate risk disclosures using the TCFD recommendations across major sections of the UK economy by 2025

9th November 2020 – Chancellor of the Exchequer Rishi Sunak today announced that the UK Government will mandate the implementation of climate risk disclosure using TCFD recommendations, across the UK economy by 2025.  

Mardi McBrien, Managing Director, Climate Disclosure Standards Board (CDSB) commented:  

“This announcement is truly transformative and CDSB welcomes the UK Government’s leadership. Mandatory implementation of climate risk disclosures using the TCFD recommendations across major sections of the UK economy by 2025 will improve business resilience, level the playing field for companies and investors reporting on climate and drive investment to finance the UK’s transition to a net zero future.”  

CDSB has been working with businesses in the UK and globally since 2007 to support them in implementing climate-related financial disclosures into mainstream corporate reports and has produced a wealth of resources to inform this process. The CDSB Framework is referenced in the guidelines to the current mandatory GHG and environmental disclosures under the Companies Act and can also be used for TCFD implementation. CDSB also hosts the TCFD knowledge Hub on behalf of the Task Force. 

CDSB is here to support business and the UK Government in ensuring TCFD implementation is a success.