Task Force on Climate-Related Financial Disclosures
TCFD recommendations on climate-related financial disclosures are designed to seek information that can be included in financial filings.
Oakville, like many municipalities, declared a climate emergency in 2019. In recent years, the town has seen a rise in extreme weather events. The resulting strain on municipal infrastructure has brought increased attention to efforts to address climate change.
In July 2022, the Town of Oakville engaged Manifest Climate to help the town understand how it currently aligns with the recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD) framework, which are connected to the four core TCFD pillars:
- Governance
- Strategy
- Risk management
- Metrics and targets
Following a review of town documents, it was found that 25 of 39 TCFD actions were met in the town's disclosures.
Next steps
Staff are working on a phased approach to the recommendations. This approach will set a path forward to complete outstanding disclosure criteria, further aligning to the TCFD framework.
Staff will provide an update on the progress of TCFD as part of the 2024 Climate Emergency Declaration Progress Report.