TCFD translates Recommendations into Portuguese
As we underlined in a recent comment letter responding to Accountancy Europe’s proposals for non-financial standard setting, for reporting standards to be useful they should be global.
So it’s welcome news that this week the Task Force on Climate-related Financial Disclosures (TCFD) have launched the Portuguese translation of its recommendations, designed to encourage a stronger uptake of TCFD reporting in Brazil.
The TCFD recommendations consist of voluntary climate-related financial disclosures guidelines that provide a template for consistent disclosure and increased transparency on climate risk. As the ninth largest economy in the world, it is important that businesses operating in Brazil can assess the risks and opportunities of climate change and the transition to a low-carbon economy.
At present, many disclosures made “in line” with TCFD guidelines lack comparability, partly due to a proliferation of other frameworks. The widely used TCFD framework could, however, be a very useful starting point for developing global, digital, non-financial standards – which would (of course) need to be liberally translated.
Read more here.