Why the U.S. Should Endorse the TCFD Recommendations at the 2017 G20 Summit

The World Resources Institute urges the U.S. government to support the TCFD's voluntary climate-risk disclosure framework at the 2017 G20 Summit. The author contends that climate change poses material financial risks—citing potential GDP losses and operational shutdowns—and that a consistent reporting framework is necessary to prevent capital losses and disorderly asset price changes. The document highlights strong support for these guidelines from major U.S. corporations and institutional investors, arguing that U.S. endorsement ensures the country helps shape a private-sector-led regime rather than being subject to foreign mandates.

• Climate change presents material financial risks to the U.S. economy, with one study suggesting that every degree rise in mean temperatures could result in an annual GDP loss of up to 1.2 percent.
• Physical climate impacts directly affect business profitability and operations; for instance, 60 percent of U.S. shale gas plants are located in regions that are extremely water stressed or arid, and a Cargill beef processing plant closed in 2013 due to drought, resulting in over 2,000 job losses.
• The TCFD recommendations provide a consistent reporting framework that encourages scenario planning and long-term thinking, which helps investors avoid capital losses and prevents abrupt changes in asset prices.
• There is significant support for the TCFD guidelines among U.S. entities, including the We Mean Business coalition of 582 companies (such as Google, Microsoft, and Walmart), institutional investors like Blackrock and CalSTRS, and a group of 380 investors managing $22 trillion in assets.
• If the U.S. does not endorse the TCFD guidelines and engage in the process, it risks a disadvantage where U.S. companies are forced to follow disclosure rules shaped by other countries or foreign mandates.

APA

World Resources Institute (2017). Why the U.S. Should Endorse the TCFD Recommendations at the 2017 G20 Summit. https://www.wri.org/insights/why-us-should-endorse-tcfd-recommendations-2017-g20-summit

Chicago

World Resources Institute. Why the U.S. Should Endorse the TCFD Recommendations at the 2017 G20 Summit. 2017. https://www.wri.org/insights/why-us-should-endorse-tcfd-recommendations-2017-g20-summit.

Wikipedia

{{cite press release |author=World Resources Institute |title=Why the U.S. Should Endorse the TCFD Recommendations at the 2017 G20 Summit |date=7 July 2017 |url=https://www.wri.org/insights/why-us-should-endorse-tcfd-recommendations-2017-g20-summit |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{worldresourcesinstitute2017why, author = {{World Resources Institute}}, title = {{Why the U.S. Should Endorse the TCFD Recommendations at the 2017 G20 Summit}}, publisher = {World Resources Institute}, year = {2017}, month = jul, url = {https://www.wri.org/insights/why-us-should-endorse-tcfd-recommendations-2017-g20-summit}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }