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TCFD adoption in the real estate sector

Climate Quantified
Climate Risk and Resilience

January 22, 2021

Real estate has led the way as an early adopter of TCFD requirements. In this whitepaper we outline key lessons learnt throughout the sector.

Task Force on Climate-related Financial Disclosures (TCFD) is being increasingly adopted by the real estate sector, with the past two years seeing significant momentum in adherence to the guidance1. Indeed TCFD disclosures made by Real Estate Investment Trusts (REITs) and Real Estate Management and Development organisations have increased. Total disclosures made in 2020 more than doubled the total number reported for 2019, and the number of disclosures for 2020 exceeded the total combined disclosures made over the previous three years from 2017 to 20192. This is in spite of the macro-economic decline and uncertainty, which has hit some landlords especially hard.

Total TCFD disclosures made in 2020 were more than double than the total number reported from 2017 to 2019

With disclosure mandatory (on a ‘comply or explain’ basis) from 2022 for premium listed companies3, this whitepaper outlines the key themes and lessons learned from real estate experience in addressing TCFD guidance.

References

1 https://gresb.com/embracing-tcfd-turning-crisis-into-opportunity/

2 https://www.fsb-tcfd.org/supporters/

3 https://www.fca.org.uk/publications/policy-statements/ps20-17-proposals-enhance-climate-related-disclosures-listed-issuers-and-clarification-existing

Contacts

Global Head of Enterprise Risk Management, Risk & Analytics

Associate Analyst, Risk & Analytics

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