FINANCIAL REPORTING
Taskforce for Carbon-related Financial Disclosure (TCFD) Consultancy
Whilst the Taskforce itself was disbanded in 2023, disclosure of the financial impact of climate-related risks and opportunities continues to be an essential part of reporting for many businesses. We complete TCFD-aligned reporting for you, keeping you compliant and building resilience against climate risks.
TCFD Reporting Services
TCFD-aligned Risk Reporting helps organisations identify, assess and disclose climate-related risks and opportunities in a structured, investor-focused format. Now part of the International Financial Reporting Standards (IFRS), the framework helps businesses understand how climate change could impact their performance, financial resilience and long-term strategy, whilst also meeting regulatory, investor and stakeholder expectations.
Our team review your readiness, collect emissions data, identify risks and opportunities, and much more, to create your comprehensive, TCFD-aligned risk report. Take TCFD off your to-do list, and leave it to our experts.
How does TCFD consultancy and reporting help?
TCFD-aligned reporting is about more than meeting financial reporting standards. By reviewing the financial risks and opportunities associated with climate change, you can improve the resilience of your business, upgrade your long-term strategic planning, and demonstrate strong risk-management practices to stakeholders. Whilst staying compliant is often the biggest priority for businesses, TCFD consultancy can help organisations prepare for the future and mitigate the risks a changing climate poses.
By working with Consultus Sustainability, you can concentrate on your wider reporting, safe in the knowledge your climate-related disclosures will be compliant, thorough, and meet all stakeholder expectations.
Which companies need to do TCFD reporting?
Disclosure of the financial impact of climate-related risks and opportunities is mandatory in the UK for many large companies, including listed businesses, financial institutions, and LLPs. It typically applies to companies with more than 500 employees and/or more than £500 million annual turnover.
If you’re not sure if your company needs to complete TCFD-aligned reporting, speak to our team, who will be happy to assess your eligibility.
What's included in our TCFD Consultancy service?
We offer a fully managed TCFD-aligned reporting service, taking care of risk and opportunity identification, data collection, and the development of a comprehensive report.
Our service includes:
TCFD applicability and readiness assessments
Climate governance and maturity diagnostics
Review of governance structures, policies and responsibilities
Climate-related risk and opportunity identification
Emissions data collection and baseline reporting
Metrics, targets and transition planning support
Board and stakeholder engagement workshops
Expert support and advice
Development of a comprehensive TCFD-aligned risk report
Our TCFD-aligned reporting packages
Choose from a range of TCFD-aligned reporting and consultancy plans to suit your business’ needs.
TCFD Readiness Assessment
A desktop-based assessment of your current climate governance, risk management and reporting maturity.
✓ Climate governance diagnostic
✓ Benchmark assessment
✓ Gap analysis
✓ Governance and policy recommendations
✓ Readiness scorecard
TCFD-Aligned Risk Report
A comprehensive climate risk reporting service aligned to the TCFD framework.
✓ Stakeholder engagement
✓ Climate governance review
✓ Emissions baseline assessment
✓ Climate risk assessment
✓ Workshop delivery
✓ Full TCFD-aligned report
✓ Risk mitigation recommendations
TCFD Annual Renewal
Annual update of previous TCFD disclosures to maintain reporting continuity and demonstrate progress.
✓ Annual data refresh
✓ Disclosure updates
✓ Progress review
✓ Climate risk reassessment
✓ Updated reporting outputs
TCFD Add-On
A streamlined option for organisations already undertaking NZP Sustain or ESOS programmes.
✓ Climate risk reporting integration
✓ Governance assessment
✓ Climate disclosure support
✓ Reduced delivery effort through existing data availability
“We’ve been working with Consultus for more than 10 years. They know the Rank estate inside out and have always provided a good, competitive offer. The key word is trust, not least because they understand our business and know our protocols: needing to gain board approval for certain expenses, for example. We have confidence in the quality of their work, and everything is fully auditable.”
– Graham Pugh
Rank Group
Our TCFD process
Every business is different, so we tailor our TCFD process to your requirements. However, a typical TCFD-aligned risk reporting process follows these steps:
01
Assess & scope
We start by confirming reporting requirements, stakeholder inputs and climate risk maturity.
02
Gather data
Next, we’ll collect governance, risk, emissions and sustainability information
03
Analyse risks & opportunities
We assess your climate-related financial risks, opportunities and resilience.
04
Develop the report
Your TCFD-aligned disclosures and risk management recommendations are prepared.
05
Review & finalise
Finally, we engage stakeholders, incorporating any feedback, and issue the final report.
06
Next steps
We can also assist with ESOS and SECR reporting, or look at developing your TCFD report into a full Net Zero Pathway.
Here to help with all your sustainability reporting needs
If you need to report on TCFD-aligned disclosures, then you probably also need to report on things like SECR and ESOS. Whether you’re compiling your annual report, sending communications out to stakeholders, or looking for new investment, we can take care of all your sustainability reporting requirements.
Our team stay up-to-date with all the latest changes and recommendations, so you can rest assured that your sustainability reporting is fully compliant and provides all the recommendations and insights you need to cut costs, reduce emissions, and build resilience. Get in touch to discuss your sustainability reporting.
The benefits of TCFD Consultancy with Consultus Sustainability
Our TCFD Consultancy service provides a number of benefits to your business. Free up time in-house by letting our experts take care of your climate-related financial disclosures.
Support regulatory compliance and reporting
Stay compliant with IFRS Sustainability Disclosure Standards and improve your financial reporting, with comprehensive, TCFD-aligned, climate risk reporting.
Strengthen resilience to climate-related risks
Identify risks to your business, future-proof your operations, and capitalise on opportunities arising from the transition to a low-carbon economy.
Improve investor and stakeholder confidence
Show that you’re ready for whatever comes next, with comprehensive climate-risk reporting. Demonstrate your sustainability commitments and improve stakeholder confidence.
Related services
Explore our other products and services that may compliment your TCFD consultancy.
TCFD Reporting FAQs
Got a question about TCFD consultancy and reporting services? Check out our FAQs or reach out to our team for more help.
What is TCFD?
TCFD (Task Force on Climate-related Financial Disclosures) was a globally recognised framework developed to help organisations identify, assess and disclose climate-related risks and opportunities. It was structured around four key pillars: Governance, Strategy, Risk Management, and Metrics & Targets.
Important Note: While the Task Force itself was disbanded in 2023 following the completion of its remit, the principles and recommendations of TCFD remain highly relevant. TCFD disclosures have been incorporated into the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards and continue to underpin climate-related reporting requirements in the UK and internationally. Many organisations still refer to their disclosures as “TCFD-aligned” reporting as they assess and communicate climate-related risks, opportunities and business resilience.
Who needs to comply with TCFD in the UK?
TCFD-aligned reporting is mandatory for many large UK companies, listed businesses, financial institutions and LLPs, typically those with more than 500 employees and/or more than £500 million turnover.
What are the four pillars of TCFD?
The four pillars of TCFD are:
• Governance
• Strategy
• Risk Management
• Metrics & Targets
These pillars provide the structure for assessing and disclosing climate-related risks and opportunities.
Why is TCFD important?
TCFD helps organisations understand how climate change may impact financial performance, operations, assets and long-term business strategy. It improves transparency, supports better decision-making and helps organisations prepare for future regulatory and stakeholder expectations.
News and blog
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