Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)

The TCFD was established by the Financial Stability Board to develop a uniform framework for reporting on climate-related risks and opportunities. The focus is on disclosing financial risks that companies could face due to climate change.

We view the recommendations of the TCFD as a logical extension to our current reporting, particularly due to the forward-looking elements included.

References to the TCFD’s recommendations have been provided for the first time in this GRI Supplement. In providing this information, we aim to transparently disclose the way Covestro AG handles climate- related risks and opportunities.

An overview of content relating to the topic is provided in the following index referring to the TCFD recommendations. The index includes references to thematically relevant parts of the text. This year’s reporting contains information pertaining to the following TCFD-recommended core areas: Governance, Strategy, Risk Management, Metrics and Targets. Given the growing importance of the effects of climate change, in the coming years we will strive to implement further aspects of the TCFD recommendations.