Rising to the Challenge of Climate Disclosure

Navigating new forms of volatility

Climate change ambition without clear disclosure is no longer an option for companies. Investors, stakeholders, and regulators are all increasingly looking to understand how organisations are addressing risks associated with changes in our global climate. Disclosures of climate-related risks currently lack standardisation and assurance, making comparisons across organisations difficult, as well as opening the door to ‘greenwashing’.

As a result, many governments are now mandating climate-related financial disclosure in line with Task Force on Climate-Related Financial Disclosures (TCFD) recommendations.

Climate-related legislation varies widely across the Asia Pacific region, but we are seeing more and more countries progressively moving towards mandatory TCFD-aligned climate-related financial disclosure.

Key examples include:

The Singapore Stock Exchange announced it will mandate TCFD-aligned disclosure for a subset of high impact sectors.
The Indonesia Stock Exchange became an official supporter of the TCFD in June 2021.
Authorities in India have mandated disclosure for listed companies.
In January 2021, the Korea Exchange announced mandatory ESG disclosures for listed companies over KRW 2 trillion of market capitalisation by 2025. This will apply to all the listed companies by 2030.
From April 2022, the Japan Exchange Group requires listed companies to address sustainability issues, including climate change, by disclosing TCFD-based information.
In June 2021, the Governor of the People’s Bank of China (PBOC) expressed plans to implement mandatory disclosures of climate-related information. In August 2021, The People’s Bank of China (PBOC) released the Guideline on Environmental Information.

Now is the time for companies to get ahead in their response to climate disclosure regulations. This means understanding the changing reporting environment and the impacts on governance, strategy, risk management, metrics, and targets to consider when developing effective disclosure frameworks.

Aon’s new whitepaper explores climate disclosure requirements across the Asia Pacific region and shares insights and guidance on developing TCFD-compliant disclosures. Download the Rising to the Challenge of Climate Disclosure report now.

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As your organisation looks to address the risks and impacts of climate change holistically, Aon is here to support your journey towards a resilient and sustainable future.