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ESD THEMIS
TCFD SUPPORT SERVICE
TCFD COMPLIANT REPORTING
Initiated by the G20 Financial Stability board, TCFD reporting is increasingly important to climate-proof businesses and inform investor decisions in light of accelerating climate change.
ESD’s THEMIS service helps your company to produce outstanding TCFD-aligned disclosure content.
WHERE THEMIS CAN HELP
TCFD-compliant reporting involves 11 disclosures in four guiding pillars:
1. Governance; 2. Strategy; 3. Risk Management; and 4. Metrics/Targets.
TCFD Status Reports [2019; 2020] highlight that the application of climate scenarios to stress-test strategy and risk management under different futures remains low – and identified this area for improvement. ESD’s are specialists in processing and analysing UN climate scenarios and this is particularly relevant for 2.Strategy and 3.Risk Management reporting – since knowledge of how physical climate impacts, and thus the resilience of a company’s mitigating strategies, might vary under differing future scenarios is crucial to allow high-quality and accurate disclosures. Although our specialism is best suited to help utilise climate scenarios for your work, we are passionate about helping organisations produce high-quality TCFD-aligned content across all four pillars:
What is the organisation’s governance around climate-related risk and opportunity?
In what ways does the board have oversight of these issues?
How does management asses and manage these risks and opportunities?
THEMIS
What are the actual and potential impacts of climate-related risks and opportunities on business, strategy and financial planning?
Describe the climate-related risks and opportunities within the short, medium and long term.
Describe the impact of climate-related risks and opportunities on the company’s business, strategy and financial planning.
Describe the resilience of the company’s strategy under different climate scenarios – including a 2°C or below scenario.
THEMIS
How does the company identify, assess and manage climate-related risks and opportunities.
Describe the processes the company uses to identify / assess risks and opportunities.
Describe the process for managing climate-related risks.
How are both of these processes integrated with the company’s wider risk-management?
Disclose the metrics and targets used to assess and manage climate-related risks and opportunities.
Describe metrics used by the company as above and in line with the Strategy and Risk Management processes.
Disclose Scope 1, 2 and 3 greenhouse gas emissions.
Describe the targets used to manage climate-related risks and opportunities – and the performance of the company against those targets.
SPECIALIST CLIMATE SCENARIO INTEGRATION
ESD are climate data specialists and will deal with the technical obstacles to help you integrate UN IPCC climate scenario data into your TCFD assessments. We have 15+ years experience analsying, processing and assessing official UN IPCC climate scenario data. Working with ESD will guarantee you have UN-accredited IPCC scenario information at your finger tips for your TCFD input and a technical partner who can quickly and readily transform global-coverage IPCC scenario data into bespoke metrics and content to enhance your TCFD reporting. From interpreting and processing low-emissions scenario data and impacts representing Paris Agreement ambitions through to ‘worst-case’ high-end emission scenarios, we are here to help you navigate the wealth of scenario-based information that can elevate your TCFD reporting to the best-possible standards. Interpreting model data and research findings for the six key UN IPCC scenarios is our forte:
SSP1-1.9
- Projected emissions: low
- Estimated warming by 2100: 1.9°C
- Time span: 2015-2100
- Notes: Envisioned pathway adhering to UN Paris Agreement (2015)
SSP2-2.6
- Projected emissions: low
- Estimated warming by 2100: 2.0°C
- Time span: 2015-2100
- Notes: A low emissions future, close to Paris Agreement adherence
SSP2-4.5
- Projected emissions: medium
- Estimated warming by 2100: 4.0°C
- Time span: 2021-2100
SSP3-7.0
- Projected emissions: medium-high
- Estimated warming by 2100: 5.0°C
- Time span: 2015-2100
SSP5-8.5
- Projected emissions: high
- Estimated warming by 2100: 7°C
- Time span: 2015-2100
- Notes: high-end emissions scenario, often assumed as a worst-case.
HISTORICAL
- Estimated warming by 2100: N/A
- Time span: 1850-2014
- Notes: models are prescribed observed emissions.
"The Earth is the only world known so far to harbor life. There is nowhere else, at least in the near future, to which our species could migrate. Like it or not, Earth is where we make our stand."
-Carl Sagan~~