UBC publishes first Task Force on Climate-Related Financial Disclosures (TCFD) Report

Thursday, November 24, 2022

In 2018, the Canadian government formally endorsed the adoption of Task Force on Climate-Related Financial Disclosures (TCFD) recommendations by all Canadian organizations to support Canada’s commitment to the Paris Agreement. 

The Task Force on Climate-Related Financial Disclosures (TCFD) recommendations were created by the Financial Stability Board to provide external stakeholders of an organization with the necessary information to assess climate-related risks and make informed investing decisions.

UBC has endorsed the adoption of TCFD recommendations, and with its first report in 2022 is committed to producing annual TCFD disclosures along with supporting TCFD’s global mission of market transparency.  

UBC will use TCFD guidelines as a tool to identify and manage climate-related risks and opportunities. In addition, these guidelines will inform our implementation of mitigation strategies to ensure the operational longevity of the University on both campuses, and to support the health and wellness of all students, faculty and staff—while also increasing transparency of the University’s climate-related risks and opportunities for stakeholders.

This is one of the first reports developed at a Canadian university, which demonstrates both UBC’s leadership in the international response to the climate emergency, as well as the university’s initiative in actively measuring and improving environmental, social and governance (ESG) factors.  

Read the FY2022 TCFD Report