General
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The TCFD Alignment Report is a separate product and will not affect your GRESB Score.
However, as the GRESB Foundation continues to evaluate material topics such as resilience and the management of climate-related risks, some aspects might be incorporated into the GRESB Standard (and thus the GRESB Score) that bear resemblance to the TCFD Alignment Reports.
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All of the data used to construct a GRESB TCFD Alignment Report is derived from the Assessment responses of the reporting entity (and its peer group). There is no extra ‘reporting burden’ in order to receive the report.
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The TCFD Alignment Report is currently available to GRESB Real Estate, Infrastructure Fund, and Infrastructure Assets Participant Members that completed the 2021 GRESB Assessment.
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You can purchase a TCFD Alignment Report directly in the GRESB Portal by following the step by step process on this page.
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GRESB Participants who purchase the GRESB TCFD Alignment Report in a given year will have unlimited access to this report through the GRESB Portal. If you purchase a report in February, it will be populated with last year’s data. When the GRESB Results are released in the fall, you will automatically receive the updated version of the TCFD Report.
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No, GRESB Investor Members cannot see TCFD Alignment Reports of individual entities through the GRESB Portal.
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Currently, it is not possible to share your TCFD Alignment Report with GRESB Investor Members through the GRESB Portal. If you would like to share your report with investors, you can do so offline.
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Currently, the GRESB TCFD Alignment Report is only available for Participants of the 2021 GRESB Assessment. The report may become available for non-Participants in the future.
Content
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The TCFD Alignment Level is an indication of an entity’s efforts in addressing climate-related risks in line with the processes outlined by the TCFD. It can be interpreted as a high-level reference to the entity’s position along its TCFD journey.
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All of the data used to construct a GRESB TCFD Alignment Report is derived from the Assessment responses of the reporting entity (and its peer group). Insofar as your responses to the GRESB Assessment accurately reflect the same processes and management presented in your separate TCFD report, the GRESB TCFD Alignment Report provides an accurate assessment of the alignment of your reporting efforts.
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The overall GRESB TCFD Alignment Level is the aggregate of equally weighted scores relating to each of the 11 recommended disclosures of the TCFD. Each recommended disclosure is scored from zero and ten points. Combined, these recommended disclosure scores add up to a maximum of 110 points. The GRESB TCFD Alignment Methodology was reviewed by the GRESB governance groups. A variety of options were considered and while the feedback resulted in a distribution of preferred options, the options taken forward reflect the majority recommendations from our stakeholder sample.
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No. The GRESB TCFD Alignment Report does not present the data and information that would be present in a company’s own TCFD report. Rather, it maps the relevant information across the GRESB Assessment into the TCFD framework, allowing the user to understand how to construct their own TCFD reports using GRESB outputs.
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For a summary of the indicators from the main Assessments expected to constitute the underlying data for these reports, please refer to the GRESB TCFD Report Indicator Overview:
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- Allen & Overy: Towards mandatory TCFD
- G7 countries: G7 nations agree on mandatory climate-related disclosure
- Hong Kong: Hong Kong Monetary Authority press release
- New Zealand: Mandatory climate-related disclosures
- Switzerland: Switzerland Announces Mandated Climate Reporting for Public Companies, Financials
- United Kingdom: A Roadmap towards mandatory climate-related disclosures
- United States: SEC Announces Enforcement Task Force Focused on Climate and ESG Issues (March 2021)
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- PRI Technical Guide: TCFD for real assets investors (April 2021)
- PRI Webinar: Real assets investing and climate change: implementing the TCFD recommendations (April 2021)