Climate risks and opportunities

The Task Force on Climate-related Financial Disclosures (TCFD) was set up by the G20 to address concerns around disclosure of climate-related risks and opportunities. The 32 members, including PwC Partner Jon Williams, were drawn from a range of industries and countries. The Task Force published its final recommendations in June 2017 which are intended to apply to all companies with listed debt or equity in the G20. The recommendations also apply to asset managers and asset owners.

  • Do you disclose the extent of board and management’s oversight of climate-related risks and opportunities?
  • Do you disclose how your organisation identifies, assesses, and manages climate-related risks?
  • Do you disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is available?

Climate governance and climate-competent boards

  • Climate governance reviews to help clients understand what they’re doing well, where the gaps are and how to fill those gaps - reviews can be conducted as part of a broader, more traditional governance review or as a stand-alone climate governance review
  • Climate governance training to bring the issue to life for board directors and equip them to take decisions that are informed by an awareness and understanding of the financial threats and opportunities posed by climate change

TCFD readiness (gap analysis) 

  • TCFD diagnostic tool provides: 
    • An initial assessment of the alignment between your public reporting and the TCFD recommendations;
    • An understanding of how you are positioned against your peers; and
    • Considerations for what actions are needed to address the TCFD recommendations.

Climate scenario modelling and risk assessment

  • A forward-looking strategy, that is robust and considers different climate scenarios, determines the long-term viability of a company in a world that is constantly changing.
  • Provides:
    • Identification and quantification of business risks caused by climate change or transition to a low-carbon economy under a 2°C or 4°C world vs. BAU
    • Comparison of strategies to respond to the risks and opportunities presented by climate change
  • How PwC helps business integrate climate risk into reporting:
    • Governance, Strategy, Risk Management, Metrics & Targets

Insights and publications

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Colum Rice

Partner, Auckland, PwC New Zealand

+64 21 608 869

Email

Annabell Chartres

Partner, Sustainability and Climate Change Leader, Auckland, PwC New Zealand

+64 21 799 927

Email

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