WTW conducted the State of Climate Risk in India survey to examine how Indian companies currently align with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Key findings of the survey
Status of companies’ alignment with TCFD
More than half of the companies (53%) are having active or limited internal discussions to disclose under the TCFD framework. 47% of the companies are not yet privy to TCFD.
Governance
A majority (82%) have had some form of board-level discussion on the financial impact of climate change to their business and have board-level and CEO level oversight on climate risks (73%).
Strategy
Companies considered climate change under their Sustainability Agenda (64%), Corporate Strategy (43%), Risk Management (43%) and Finance (32%), showcasing an understanding of the key business functions for assessing climate-related financial risks and opportunities.
Risk management
A quarter of companies are prepared or intend to disclose under the TCFD framework, but further work is required.
Metrics and targets
Majority of the companies (82%) disclose the metrics and targets used to assess climate-related risks.
Please complete the form to receive the survey findings.If you would like to have a briefing with our Climate and Resilience Hub team or for more information, please write to us at wtwindia@willistowerswatson.com.
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