TCFD Disbands; Passes Climate Monitoring to the ISSB

The Task Force on Climate-related Financial Disclosures (TCFD), the body established under the auspices of the international body the Financial Stability Board to develop recommendations on the types of information that companies should disclose to support investors, lenders, and insurance underwriters, has disbanded and passed its monitoring of corporate climate- related disclosures and recommendation tasks to the International Sustainability Standards Board (ISSB). Formed in 2021 after COP 26 in Glasgow, the ISSB has worked with other standards bodies to create a single set of commonly used sustainability reporting standards. These are set to come into use in 2024.