UNEP FI TCFD Banking Pilot Projects
Since 2017, UNEP FI has been working with its members to better equip the banking industry to implement the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). Through the TCFD programme, UNEP FI has taken a leadership role in developing good practices regarding climate risk in the financial sector. The TCFD programme has created numerous tools, frameworks, and guides to empower the financial industry to better manage and disclose their climate risks.
The latest TCFD programme involved forty-eight global banks and investors. The program contained a climate risk roadmap to empower participants at all stages of their climate disclosure journey. The roadmap featured interactive discussions with regulators, climate modelers, climate scientists, as well as peer presentations. The programme also consisted of “modules” where participants actively explored specific climate risk topics. UNEP FI and participants were supported by a wide range of expert partners to explore ways to add depth, granularity, and nuance to climate risk assessments, consolidate best practices in climate risk management, and standardize climate disclosures across the industry.
In Spring 2022, UNEP FI launched its newest TCFD and Climate Risk Programme. The programme combines leading-edge content development with extensive opportunities for peer and expert dialogue to better address climate risks and best practices for each of the recommended TCFD pillars. The new programme consists of three key components – content webinars and trainings with climate risk experts, establishment of regional discussion groups, and interactive working groups focusing on topics such as climate stress testing, climate scenario analysis, macroeconomic modeling of climate change and climate risk data.