TCFD

Where it comes from

The Financial Stability Board established it in December 2015. It published its final recommendations in June 2017.

The four areas

The recommendations are organized into governance, strategy, risk management, and metrics and targets. That structure became the standard way to talk about climate in a financial report.

It no longer exists as a group

It disbanded in October 2023, having fulfilled its remit. Monitoring passed to the IFRS Foundation.

The recommendations live on inside another standard. The IFRS Foundation states that they are fully incorporated into its standards, and that a company applying IFRS S2 provides all the information TCFD covered.

In Chile

NCG 461 mentions it among the guides to consider for risk management. With IFRS S2 mandatory from annual reports covering 2027, the practical move is to prepare for that standard directly.

Source: TCFD final recommendations, June 2017 and TCFD, IFRS Foundation.