WTW unveils climate disclosure table

Broker and insurance solutions provider WTW has published a review of climate-related financial disclosure requirements across key global jurisdictions. 

The Climate Reporting Comparative Table will be showcased during the FERMA Forum 2024 taking place this week in Madrid. 

"Our climate reporting comparative table was designed to help corporations navigate what is a complex regulation framework and assist them in effectively tracking activities,” said Peter Carter, head of climate practice & head of captive and insurance management solutions, WTW.  

“We believe it is essential to look beyond mere disclosure and actually utilize resources such as diagnostic and quantification tools to aid the climate risk management process. 

“The core message is clear: to successfully deliver your net-zero or transition commitments, you must model the associated risks.”

The report provides a comprehensive review of climate-related financial disclosure requirements across key global jurisdictions. It highlights the intersections and differences between important frameworks, including:

The International Financial Reporting Standards’ (IFRS) International Sustainability Standards Boards’ (ISSB) S1 and S2

the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD)

the Securities and Exchange Commission (SEC) climate rule to standardize climate-related disclosures for investors in the US

the EU’s Corporate Sustainability Reporting Directive (CSRD) alongside the EU Taxonomy common classification scheme for sustainable economic activities.

WTW said the table offers valuable insights to help organizations align their internal reporting processes with evolving global standards, manage climate-related risks and opportunities, and plan for upcoming compliance requirements. 

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