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

A statement by the World Resources Institute urging the United States government to endorse the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations at the 2017 G20 Summit to protect investors and maintain U.S. business competitiveness.

• The World Resources Institute argues that the U.S. government should endorse the TCFD guidelines at the G20 meeting because they were developed with U.S. private sector support and would enhance the security of American investors and the competitiveness of U.S. businesses.
• Climate change poses material financial risks to the U.S. economy, with one study suggesting a potential annual GDP loss of up to 1.2 percent for every degree rise in mean temperatures. Physical impacts include damage to coastal infrastructure, declining agricultural productivity, and water stress, which WRI notes affects 60 percent of U.S. shale gas plants.
• The TCFD framework provides a consistent reporting system that encourages scenario planning and long-term thinking, which helps investors like pension funds avoid capital losses and prevents disorderly asset price changes.
• There is significant support for the TCFD recommendations from U.S. corporations and investors, including Bank of America, CitiGroup, Dow, Dupont, JetBlue, PepsiCo, Blackrock, and CalSTRS, as well as the We Mean Business coalition (comprising 582 companies including Google, Microsoft, and Walmart).
• Failure by the U.S. to endorse the voluntary, private-sector led TCFD regime may result in U.S. companies being forced to follow disclosure rules shaped by foreign mandates or other countries, which might conflict with U.S. regulatory approaches.

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} }