Bursa Malaysia implements four out of five TCFD recommendations

KUALA LUMPUR, June 27 (Bernama) – Bursa Malaysia Bhd is leading the Task Force on Climate-related Financial Disclosures (TCFD), implementing four out of five activities in support of the diffusion of reporting practices in alignment with the recommendations of the TCFD.

According to a report launched recently by the United Nations Sustainable Stock Exchanges (UN SSE), 69 stock exchanges globally were taking actions in support of enhancing climate-related financial disclosures in their respective markets.

TCFD is advocating a series of activities to promote reporting practices aligned with its ESG and climate-change mandate.

The four activities Bursa Malaysia will be implementing include published guidance on ESG disclosures, publish stand alone guidance specifically for climate-related disclosures, hosting TCFD training and starting its own journey towards aligning with the task force's recommended disclosures.

According to the report, the most common activity among the 69 stock exchanges was to adhere to TCFD’s recommendations in their ESG reporting guidelines.

"While 40 stock exchanges are referencing the TCFD recommendations in their ESG reporting guidelines, three stock exchanges have further provided climate-specific disclosure guidelines.

"To enhance efforts aimed at supporting issuers aligning their reporting practices with the task force, stock exchanges are also increasingly providing training for their markets," it added.

At the time of the report's publication, 33 stock exchanges had arranged training on TCFD-recommended disclosures through a joint-initiative launched by the UN SSE, International Financial Corporation and CDP (previously Climate Disclosure Project) to provide CPD-certified training, it said.

The report said 36 stock exchanges are official TCFD supporters and 30 stock exchanges have aligned their own disclosure practices to the TCFD.

-- BERNAMA