Suzano and the TCFD
Suzano is committed to reporting its practices and indicators in line with the Recommendations of the TCFD and to continue advancing on this path.
1. What is TCFD?
TCFD was created by the Financial Stability Board (FSB), together with representatives from different economic sectors—both public and private—to address the availability and quality of financial information related to climate change. This task force was created based on the understanding that these changes can affect the stability of the international financial system, directly impacting economic activities. In response, TCFD has published a set of recommendations for reporting risks and opportunities related to climate change.
The Recommendations encompass 4 reporting dimensions:
- Governance: disclose the organization’s governance of climate risks and opportunities.
- Strategy: disclose the actual and potential impacts of climate risks and opportunities on the organization’s business, strategy, and financial planning, when such information is material.
- Risk Management: disclose how the organization identifies, assesses, and manages climate risks.
- Metrics and Goals: disclose the metrics and goals used to assess and manage climate risks and opportunities, when such information is material.
In February 2020, TCFD already had more than 1,000 supporters, among which were companies with combined market cap in excess of US$ 10 trillion.
TCFD’s 4 Recommendations are detailed in Recommended Disclosures, as shown in the table below. For each of the Recommended Disclosures, there are also Guidance in order to facilitate reporting the information.