Santam declares support for the Task Force on Climate-related Financial Disclosures
Santam has declared its support for the Task Force on Climate-related Financial Disclosures (TCFD), joining more than 1,800 organizations in demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures.
The TCFD, chaired by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, provides market participants with recommendations to address the financial impact of climate change on their business. By increasing transparency on financially material climate-related risks and opportunities, the recommendations promote more informed financial decision-making by investors, lenders and others.
Supporters of the TCFD span the public and private sectors and include national governments, central banks, stock exchanges, credit rating agencies, financial organizations and private sector businesses from a variety of industries.
The TCFD recommendations are designed to solicit consistent, decision-useful, forward-looking information on the material financial impacts of climate-related risks and opportunities, including those related to the global transition to a lower-carbon economy.