Black Sun's TCFD research featured in FRC report - Black Sun Global

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Black Sun's TCFD research featured in FRC report

Black Sun's TCFD research, Accelerated Action for Climate Resilience, was recently featured in the Financial Reporting Council's (FRC) Climate Thematic Governance

The report, How are boards taking account of climate-related challenges? undertakes a thematic review of climate-related considerations by boards, companies, auditors, investors and professional associations. Within the report, the FRC discusses why it is important for boards to take account of climate-related challenges. 

“Climate change is a crisis affecting everyone and companies do not exist in isolation. Boards have a responsibility to consider both the impact the company has on the environment and how climate change might affect the success of the company, in both the short and longer term. To govern successfully, boards cannot exclude climate change from their strategic decision making. They should be transparent with shareholders and other stakeholders by disclosing clear and relevant information.”

Black Sun's featured TCFD research focuses on tracking trends of how FTSE 100 companies are responding to climate issues in advance of potential mandatory reporting requirements, with the purpose of urging companies to take accelerated action on climate issues and to consider their resilience, both in their business and through their communications. Below is the featured section in the FRC's Climate Thematic Governance. 



FTSE 100 reporting practice 

In its review of FTSE100 climate-related reporting earlier this year, Black Sun found that: Challenges remain in embedding into strategy – 46% (from 32%) of FTSE 100 companies disclose climate issues among principal risks, but only 7% discuss the resilience of their strategy. Greater integration into risk is required – 48% (from 26%) disclose board oversight of climate-related risks and opportunities, but only 24% (from 16%) describe how risk management processes for climate-related risks are being integrated into the organisation’s overall risk management.



To request a copy of Black Sun's TCFD research, please contact Naomi Hawkins.  

For more information from The Financial Reporting Council and to view the full Climate Thematic, please visit their website.

About Black Sun

Black Sun is a global stakeholder communications company with offices in London and Singapore. We are united by a common purpose of making businesses more valued by their stakeholders. We are powered by a unique mix of strategic insight, creative inspiration and technology advantage, and help businesses communicate authentically how they deliver value to their stakeholders. We believe that inspiring strategic communications can spark positive change and drive long-term, sustainable performance.