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 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.

1 References to thematically relevant parts of the text

2 The identification and assessment of climate-related opportunities and risks are integrated in Group-wide risk management.
















Risk Management


Metrics and Targets

TCFD requirements


The organization’s governance around climate-related risks and opportunities


The actual and potential impacts of climate-related risks and opportunities on the businesses, strategy, and financial planning


The processes used to identify, assess, and manage climaterelated risks


The metrics and targets used to assess and manage relevant climate-related risks and opportunities

Section in Covestro Annual Report 2018


Section in Covestro GRI Supplement 2018



GRI/Global Reporting Initiative
Guidelines for the preparation of sustainability reports by companies, governments and non-governmental organizations (NGOs)