TCFD Index
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, and 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 for the TCFD-recommended core areas: Governance, Strategy, Risk Management, as well as 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. In 2019, the newly launched Circular Economy strategy program in particular led us to expand the TCFD-related content in the report.
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Governance |
Strategy |
Risk Management |
Metrics and Targets |
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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 business, strategy and financial planning |
The processes used to identify, assess, and manage climate-related risks |
The metrics and targets used to assess and manage relevant climate-related risks and opportunities |
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Section in Covestro Annual Report 2019 (or corresponding 2019 Covestro supplementary information) |
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