The requirements of the Task Force on Climate-related Financial Disclosures (TCFD) apply to the following areas: Governance, Strategy, Risk Management, and Metrics & Targets. The aim of TCFD-compliant reporting is to properly report on the risks and opportunities of climate change and thus strengthen the stability of the financial market. Since the CDP climate questionnaire incorporates most of the TCFD requirements, the Schaeffler Group already reports on the following information:
TCFD core elements | Required information | CDP questionnaire 2023 reference |
---|---|---|
Governance Disclosure of the organization’s governance around climate-related risks and opportunities | A. Board of Managing Director’s oversight of climate-related risks and opportunities | C1.1b |
B. Management’s role in assessing and managing climate-related risks and opportunities | C1.2 | |
Strategy Disclosure of the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning where such information is material | A. Description of climate-related opportunities and risks | C2.1, C2.1a, C2.2, C2.3, C2.3a, C2.4, C2.4a |
B. Impact of climate-related risks on the organization’s businesses, strategy, and financial planning | C2.1.b, C2.3, C2.3a, C2.4, C2.4a, C3.1 | |
C. Resilience of the organizational strategy | C3.1 | |
Risk Management Disclosure of how the organization identifies, assesses, and manages climate-related risks | A. Organization’s processes for identifying and assessing climate-related risks | C2.2, C2.2a |
B. Organization’s processes for managing climate-related risks | C2.2 | |
C. Integration of processes for identifying, assessing, and managing climate-related risks into the organization’s overall risk management | C2.2 | |
Metrics & Targets Disclosure of the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material | A. Metrics used by the organization to assess climate-related risks and opportunities | C4.1, C4.2 |
B. Disclosure of Scope 1, Scope 2, and Scope 3 greenhouse gas (GHG) emissions | C6.1, C6.3, C6.5 | |
C. Targets used by the organization to manage climate-related risks and opportunities | C4.1, C4.1a, C4.2, C.4.2a, C.4.2b, C4.2c |
Schaeffler Group
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