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 strategy program in particular led us to expand the TCFD-related content in the report.



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 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

Section in Covestro Annual Report 2019 (or corresponding 2019 Covestro supplementary information)

Circular economy
A regenerative economic system in which resource input, waste production, emissions and energy consumption are minimized based on long-lasting and closed material and energy cycles