124Recently, Carbonstop announced its official joining of the Task Force on Climate-related Financial Disclosures (TCFD) and became a supporter in the business and professional services category.
To address climate change, the Financial Stability Board (FSB) established the Task Force on Climate-related Financial Disclosures (TCFD) in December 2015. Its goal is to promote greater transparency and disclosure of climate-related financial information, enabling a better understanding of the financial system's exposure to climate risks.
Currently, TCFD's climate risk management disclosure standards have received significant attention and widespread recognition from international financial market participants. As of July 2022, a total of 3,400 organizations and institutions from 95 countries and regions have officially announced their support for TCFD. Among these, only 24 Chinese companies (including those from Taiwan and Hong Kong) belong to the business and professional services category.
As countries continue to advance their "Dual Carbon" goals, the TCFD recommendations framework is increasingly becoming the foundation for the information needed to develop plans for a low-carbon economic transition. According to the "2021 TCFD Status Report," TCFD has elevated seven cross-sector indicators, including Scope 1, 2, and 3 greenhouse gas emissions, to a level of importance equivalent to financial impact assessments. This highlights that a company's ability to disclose greenhouse gas emissions is a key indicator of its environmental and climate disclosure.
Since 2018, CDP, the world's largest environmental information platform, has fully integrated the TCFD framework into its questionnaire design, making CDP one of the platforms with the highest number of companies disclosing information according to TCFD recommendations.
Carbonstop has always placed a high emphasis on environmental and climate disclosure. Leveraging our deep expertise in the low-carbon field and rich carbon management experience, we help companies improve their environmental disclosure levels through CDP reporting services.
To date, Carbonstop has provided CDP questionnaire filling and related consulting services to hundreds of suppliers of Fortune Global 500 companies, including Seasons HK Ltd (Walmart supplier), Ronghua (Colgate supplier), Shenma Industry (Michelin supplier), Rongwei International (Walmart supplier), and Huaxi Biotech (L'Oréal supplier). Among our clients, 100% have achieved a B rating, and 80% have reached leadership levels (A or A- ratings).
In the future, Carbonstop will continue to rely on our professional capabilities and services to help more enterprises and institutions improve their environmental and climate disclosure levels and risk management capabilities, contributing to China's efforts to achieve its carbon peak and carbon neutrality goals.
