LAUNCH: Measuring and Reporting Climate-related Physical Risks
Framework for Measuring and Reporting Climate-related Physical Risks to Built Assets
In order to support organisations in measuring and reporting climate-related physical risks, UKGBC is launching a new TCFD-aligned report which provides guidance on the physical risk assessment process and a methodology for the built asset scale. For organisations facilitating their own analysis, a reporting framework will also be published which can be used to support the preparation of TCFD disclosure reports. By providing a methodology for the built environment, it is hoped that this report and framework will address the current lack of consensus on physical risk disclosure methodologies.
As part of its Resilience and Nature-based Solutions programme, UKGBC launched the Measuring and Reporting Climate-related Physical Risks task group in response to the upcoming mandatory disclosure of climate-related risks. For large organisations and financial institutions within the UK, this comes into force from April 2022 in line with the Task Force on Climate-Related Financial Disclosures’ (TCFD) recommendations. If successful, this requirement is likely to expand to include smaller organisations by 2025. For asset-owning organisations this will include a requirement to consider, measure, and report any risks posed by physical climate-related risks, alongside reporting transitional risks from reducing greenhouse gas emissions.
Who should attend?
The reporting framework and supporting information is primarily intended to be used by those that will be required to disclose their physical climate risks using the TCFD recommendations. This includes asset owners, insurers, investors, lenders, and other financial stakeholders. However, this event will also be useful for anyone aiming to increase their understanding of physical risk disclosure.
This event will introduce the guidance, provide an overview of the framework’s contents and function, and will convene a discussion between a panel of experts on its application in practice and the next steps for the industry.
For more on our Resilience and Nature-based Solutions work, see our programme webpage.