TCFD - What is it and who needs to comply?
What is it?
The Task- Force on Climate-Related Financial Disclosures (TCFD) was created in 2015 by the Financial Stability Board (FSB), to increase the number of company’s reporting climate information and improve the quality of disclosures. In 2023, TCFD was disbanded as it was deemed to have fulfilled its role. However, in-scope companies are still required to disclose TCFD information.
The International Financial Reporting Standards (IFRS) has taken over the monitoring of disclosures. Companies that comply with IFRS sustainability standards, S1 and S2 will also meet TCFD recommendations because these recommendations have been incorporated into the standards.
The UK is considering implementing the IFRS S1 and S2 requirements into the UK Sustainability Disclosure Standards (UK SDS), which are expected be announced in July 2024. Businesses should prepare to be compliant with IFRS standards in preparation for upcoming regulation.
Who does TCFD apply to?
When do businesses need to comply?
Accounting periods that began on or after 6th April 2022.
What businesses should know (data/disclosures)
The process of identifying, measuring, analysing and disclosing sustainability data can be a time-consuming practice. Businesses who have not yet understood their carbon emissions, including that of their suppliers should avoid delay and take action to ensure they are compliant with future climate regulation.
How can we help?
edenseven is a sustainability consultancy with an award-winning track record helping businesses design and deliver data-driven sustainability strategies. cero.earth from edenseven is cloud-based carbon accounting and management platform. Designed to support organisations of all sizes, cero.earth and expert analysts from edenseven will simplify reporting and disclosure, ensuring your business is compliant with all relevant climate regulations.
- Report with confidence: cero.earth follows the Greenhouse Gas Protocol’s recommendations (scope 1, 2 & 3), ensuring you can report with confidence and remain compliant with regulation.
- Expert support: A team of analysts sit behind the cero.earth platform, able to guide you through the process.
- Simplified reporting: Seamless ingestion of data into the platform enables a quick upload process, whilst data can be easily exported into desired formats for inclusion in reports, saving you time and resources.
- Increase transparency: cero.earth enables you to measure and track your scope 1, 2 & 3 emissions, ensuring you can easily disclose your emissions to your stakeholders and shareholders, instilling confidence in your transparency.
- Progress to Net Zero: Track your progress to Net Zero with cero.earth’s Net Zero Carbon (NZC) dashboard, enabling you to visualise your pathway to Net Zero and your projected Net Zero date.









