Transforming Tomorrow 8 Taskforce on Climate-Related Financial Disclosures In 2017, the Taskforce on Climate-Related Financial Disclosures (TCFD) released recommendations to help companies provide better information on their dependencies on a resilience climate system and their impact on climate change. In 2018, the Pentland Centre worked with Nestlé to put TCFD recommendations into practice. 2018 2019 2020 An interdisciplinary group of Lancaster University researchers, led by the Pentland Centre, work with Nestlé executives to understand the reporting requirements of TCFD, focussing upon the impacts of climate change on three key commodities; coffee, wheat and dairy. See results in Nestlé’s 2019 Annual Review (pp. 65-66) Nestlé announce in their 2019 Creating Shared Value Report that from 2020 they would be reporting the risks to Nestlé of climate changes in the annual financial report, in line with TCFD recommendations. See 2019 Creating Shared Value Report (p.48) Nestlé is used as a case study in the publication resulting from the WBCSD Forum. See 2020 Food, Agriculture and Forest Products, Preparer Forum Report (pp. 49-50) Professor Jeffrey Unerman and Dr Paul Young of the Pentland Centre use their experience of working with Nestlé to contribute to the World Business Council for Sustainable Development (WBCSD) Preparer Forum on Food, Agriculture and Forest Products. Nestlé 2020 Annual Review explicitly addresses exposure to climate risk. See Nestlé’s Annual Review (pp. 60-62)
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