European Commission publishes guidelines on reporting climate-related information

The European Commission has published the new guidelines on reporting climate-related information as a supplement to the non-binding guidelines on non-financial reporting of July 2017.

The new supplement addresses the recommendations of the Task force on Climate-related Financial Disclosures (TCFD).

Both the Technical Expert Group on Sustainable Finance and the Commission itself had consulted on the extension of the Commission Guidelines beforehand. The ASCG had submitted comment letters on both consultations (ASCG letter on the TEG report, ASCG letter on the consultation of the commission).

Strengthening corporate reporting on climate-related matters is one of the ten measures of the EU Action Plan on Sustainable Finance, which explicitly refers to the TCFD recommendations.