Task Force on Climate-related Financial Disclosures Report

Task force on climate-related financial disclosures report

The Task Force on Climate-related Financial Disclosures (TCFD) was launched by the Financial Stability Board in December 2015 with an aim to use financial disclosures as a means to inform investors and other stakeholders about the risks companies face related to climate change and how those risks are being managed. Bank of America was an early supporter of the TCFD recommendations.

As one of the world’s largest financial institutions, we are committed to ensuring that climate-related risks and opportunities are properly managed within our business. We will continue to evaluate the impact of climate change on our business and financial results, and as we better understand how to measure and model climate-related risks and their potential significance, we will disclose as appropriate.

We make these disclosures because we believe it is important that stakeholders — including clients, employees, investors and others — understand how we manage risk and have better insight into the long-term value of the bank.