At the end of last year, the Task Force on Climate-related Financial Disclosures (the Task Force) published its Recommendations Report on climate change related financial disclosures.

The 32-member Task Force was established by the Financial Stability Board (the FSB) to help identify the information needed by investors, lenders and insurance underwriters to appropriately assess and price climate-related risks and opportunities. It follows concerns over whether climate-related risks are being properly identified and priced and the impact this may have on financial stability. The Task Force was asked to develop voluntary principles on climate-related financial disclosures that would be useful to investors, lenders and insurance underwriters in understanding material risks.