TCFD Good Practice Handbook

The TCFD Good Practice Handbook identifies effective disclosure examples across the four TCFD core elements—Governance, Strategy, Risk Management, and Metrics and Targets—while offering practical advice and case studies to help organisations overcome implementation barriers.

• Global TCFD reporting shows continued improvement, but the pace is described as sluggish, with significant gaps in disclosing the resilience of company strategies (13%) and management's role in assessing climate risks (18%).
• There is a trend toward a "tick-box" approach where the quality of disclosures lags behind the coverage; companies are more comfortable reporting targets and ambitions than the specific plans to achieve them.
• Good practice in Governance involves clearly distinguishing between board and management-level accountabilities and specifying the frequency of climate-related reviews.
• Effective Strategy disclosure includes the use of climate scenario analysis to assess strategic resilience, providing the assumptions used and the monetised outcomes of those scenarios.
• Good practice in Risk Management requires demonstrating how climate-related risk processes are integrated into the organisation's overall risk management framework, rather than treating them as standalone issues.
• For Metrics and Targets, good practice involves disclosing Scope 1, 2, and 3 GHG emissions with historical data for comparison and linking these metrics to identified material risks.
• The handbook emphasizes that material climate-related financial disclosures should be integrated into mainstream financial reports (such as 10-K filings) rather than separate sustainability reports to be decision-useful for investors.
• Practical implementation of scenario analysis often faces barriers including a steep learning curve, lack of available quantitative data, and the need for multidisciplinary stakeholder engagement.

APA

We Mean Business Coalition (2021). TCFD Good Practice Handbook. https://www.wemeanbusinesscoalition.org/wp-content/uploads/2021/11/tcfd_good_practice_handbook_v5_pages.pdf

Chicago

We Mean Business Coalition. TCFD Good Practice Handbook. 2021. https://www.wemeanbusinesscoalition.org/wp-content/uploads/2021/11/tcfd_good_practice_handbook_v5_pages.pdf.

Wikipedia

{{cite report |author=We Mean Business Coalition |title=TCFD Good Practice Handbook |date=November 2021 |url=https://www.wemeanbusinesscoalition.org/wp-content/uploads/2021/11/tcfd_good_practice_handbook_v5_pages.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{wemeanbusinesscoalition2021tcfd, author = {{We Mean Business Coalition}}, title = {{TCFD Good Practice Handbook}}, institution = {We Mean Business Coalition}, year = {2021}, month = nov, url = {https://www.wemeanbusinesscoalition.org/wp-content/uploads/2021/11/tcfd_good_practice_handbook_v5_pages.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }