Climate-related Financial Disclosures Standards Quiz

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Questions and Answers

What is one of the key areas of disclosure outlined in the TCFD framework?

  • IFRS S2
  • Global Reporting Initiative (GRI)
  • Climate Reporting Frameworks
  • Risk Management (correct)

Which aspect of an organization's operations does the TCFD's 'Strategy' disclosure cover?

  • Inventory management
  • Human resource management
  • Financial planning (correct)
  • Production techniques

What does the TCFD recommend companies conduct to assess different climate-related scenarios on their business?

  • Scenario Analysis (correct)
  • Economic forecast
  • Stakeholder analysis
  • Cost-benefit analysis

Which organization provides industry-specific sustainability accounting standards for climate-related disclosure?

<p>SASB (B)</p> Signup and view all the answers

What is the primary purpose of the Carbon Disclosure Project (CDP)?

<p>Collecting environmental data for disclosure (B)</p> Signup and view all the answers

According to the TCFD framework, what does the 'Governance' disclosure describe?

<p>Board oversight of climate-related risks (B)</p> Signup and view all the answers

In which way are TCFD recommendations designed to be applicable to organizations across sectors?

<p>They recognize diverse impacts of climate change (D)</p> Signup and view all the answers

Which standard is designed to reflect the unique sustainability risks and opportunities of each sector?

<p>SASB (A)</p> Signup and view all the answers

Which international body established the Task Force on Climate-related Financial Disclosures (TCFD)?

<p>Financial Stability Board (FSB) (A)</p> Signup and view all the answers

Which organization sets the standards for quantifying and reporting greenhouse gas emissions?

<p>ISO 14064 (B)</p> Signup and view all the answers

What is the primary goal of the Task Force on Climate-related Financial Disclosures (TCFD)?

<p>To develop a set of voluntary and consistent climate-related financial risk disclosures. (C)</p> Signup and view all the answers

What does the Global Reporting Initiative (GRI) provide guidelines for reporting on?

<p>Climate-related impacts (A)</p> Signup and view all the answers

The EU Non-Financial Reporting Directive (NFRD) requires large companies to disclose non-financial information related to:

<p>Environmental matters (A)</p> Signup and view all the answers

What is recommended by the TCFD to understand and address stakeholders' information needs related to climate-related financial disclosures?

<p>Engage with stakeholders (B)</p> Signup and view all the answers

Which organizations are the primary target audience for the information disclosed based on the TCFD recommendations?

<p>Investors, lenders, and other stakeholders. (D)</p> Signup and view all the answers

How does the TCFD believe improved disclosure of climate-related financial information impacts financial markets?

<p>It is essential for the efficient functioning of financial markets. (B)</p> Signup and view all the answers

What is a key feature of the TCFD's recommendations for companies?

<p>Voluntary framework aimed at widespread adoption across sectors and industries. (B)</p> Signup and view all the answers

In what year was the Task Force on Climate-related Financial Disclosures (TCFD) formally launched?

<p>2015 (D)</p> Signup and view all the answers

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