Established in the 2019/20 financial year, the Task Force on Climate-related Financial Disclosures (TCFD) created a framework for organisations to manage risks, identify and seize climate-related business opportunities, and disclose reliable information about the risks and opportunities to investors.
Transpower has a keen interest in climate-related financial disclosures for several reasons. We are a debt issuer under the NZX and have a number of subsidiaries and carry out group reporting. We are also a reporting organisation under the Climate Change Response (Zero Carbon) Amendment Act 2019 (Zero Carbon Act).
We are a signatory to the New Zealand Climate Leaders Coalition and have committed to voluntarily measuring and reporting greenhouse gas emissions, setting a public emissions reduction target and working with our suppliers to reduce their emissions. You can read more about our latest emissions and what we’re doing to manage them here.
We accept that the effects of climate change present risks to our assets. We have developed a staged approach for enhancing and integrating our identification and assessment of climate-related risks and opportunities across the organisation. Our TCFD roadmap to the 2022/23 financial year provides an outline of the key steps we will take to manage climate-related transition, physical risks and liability risks and opportunities and effectively disclose any material information.
Read more about how we're adopting TCFD standards here.