Photo credit: Kirsten Tillotson, United Kingdom
We see alignment with the Task Force on Climate-related Financial Disclosures (TCFD) increasing in importance, with mandatory reporting on the horizon in a number of countries.
We are committed to supporting and disclosing in line with the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations. ERM was engaged by the TCFD to prepare the technical supplement on The Use of Scenario Analysis in Disclosure of Climate-related Risks and Opportunities, which was released in June 2017. ERM has been a supporter of the Task Force on Climate-related Financial Disclosures (TCFD) since 2018, and this is our third annual reporting with the addition of a stand-alone TCFD disclosure.
Our commitment to building the TCFD agenda continues with the recent assignment to support the TCFD Secretariat through the World Business Council on Sustainable Development (WBCSD) Reference Scenarios project to be published ahead of COP26. ERM is a lead technical advisor in this project. Apart from supporting numerous clients on TCFD strategy and implementation, the company has a roadmap for implementing the TCFD recommendations across its own business.
Our most significant contribution in helping to combat the impacts of climate change is through our work with clients. This includes helping companies including those in some of the most energy-intensive industries, transition to a lower-carbon future. We have invested significantly in our service offering to support clients as they set ambitious targets and seek to operationalize their responses throughout their organizations. We exercise judgment with respect to clients and third parties we engage with and the types of work we undertake. We scrutinize opportunities and projects carefully before proceeding and reserve the right to withdraw from a project if business conduct, ethics or climate concerns arise.
ERM continues to take steps toward reducing the environmental impacts of our operations, with the greatest focus on reducing our direct and indirect impact on climate change. We have approved science-based targets and have made a net-zero commitment covering all of our operations. Climate-related risk is a material topic for ERM and has a direct impact on our commercial health as well as our ability to attract and retain talent.