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Andrea Marandino, Sustainable Finance and Corporate Risk Manager at WWF, commented on the publication of the Taskforce for Climate-related Financial Disclosure’s recommendations for disclosing climate-related risks and opportunities in mainstream financial filings

“The TCFD’s recommendations have the potential to be a catalyst for the world’s transition to a low-carbon future.

“Businesses are at risk from climate change both from the direct impact of extreme weather and from the changing economic landscape as we transition to a low-carbon world in line with the Paris Agreement. What we must see now is companies adopting these recommendations as a routine part of financial disclosure and asset owners putting pressure on asset managers and the businesses they invest in to provide better, forward looking, climate-related financial disclosures.

“The more the market recognises how much climate change threatens the long-term stability of the global financial system, the greater will be its ability to respond and correct our course away from catastrophic temperature rises.”