Uncharted waters: How can companies use financial accounting standards to deliver on the TCFD’s recommendations?

This paper is designed to drive conversations about how companies can use the accounting standards to deliver on the TCFD recommendations, focusing mainly on IFRS 7 and 9. The paper provides an overview of the main challenge that the TCFD provides: how to integrate climate-related financial disclosures with existing reporting models and financial accounting standards. Here we look mainly at IFRS 7 and 9, providing an introduction about the mainstream financial reporting model and asking the critical questions that could guide companies in the process of implementing the recommendations.