FirstGroup plc has become the first UK-based transport operator to sign up to support the Task Force on Climate-related Financial Disclosures (TCFD), agreeing a new green governance framework to drive progress against the TCFD’s recommendations.
As an official TCFD Supporter, FirstGroup joins more than 1,600 leading organisations in 70 countries in demonstrating a commitment to build a more resilient financial system through climate-related disclosure.
FirstGroup is taking this action in advance of next year’s UN climate summit (COP26) in Glasgow, and well before the UK Government’s deadline for mandatory climate-related disclosures for the UK’s largest organisations.
Established by the Financial Stability Board in 2015, the TCFD has developed a globally recognised framework through which exposure to climate-related financial risk and opportunities can be disclosed. This is built around four key themes: governance, strategy, risk management, and metrics and targets.
FirstGroup committed to implementing the TCFD’s recommendations in these four themes last year as part of its Group-wide sustainability framework, Mobility Beyond Today, which includes being transparent with progress in helping to combat climate change, improving local air quality and publicly disclosing relevant climate-related financial information.
Commenting, FirstGroup Corporate Responsibility Director Kate Broome said: “As a leading global public transport operator, FirstGroup is already driving the transition to a zero-carbon world, with ambitious plans to bring low- and zero-emission fleets to our customers and communities. Responsible reporting on climate impacts is just one of the ways we demonstrate our commitment, and we are proud that we have become the first in our sector to sign up as an official TCFD Supporter.”
Full details about Mobility Beyond Today can be found here: www.firstgroupplc.com/~/media/Files/F/Firstgroup-Plc/Responsibilty Reports/firstgroup-mbt-july20.pdf
