ISSB to take Over TCFD Monitoring Responsibilities from 2024
Tuesday, 11 July 2023
Following the publication of the inaugural ISSB Standards—IFRS S1 and IFRS S2—the Financial Stability Board has asked the IFRS Foundation to take over the Task Force on Climate-related Financial Disclosures (TCFD) monitoring of corporations' climate-related disclosures.
The recommendations of the TCFD are fully included into IFRS S1 and IFRS S2. As such, the Financial Stability Board stated that the Standards are "the culmination of the work of the TCFD," which was established in 2017 at the request of the Financial Stability Board.
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