Danske Bank has signed Task Force on Climate-Related Financial Disclosures

As part of facilitating the transition to a low carbon economy, Danske Bank is committed to supporting the recommendations of Task Force on Climate-Related Financial Disclosures (TCFD).

Climate change is of increasing importance to society at large, our customers as well as the financial sector. Since the Paris Agreement in 2015, more than 200 countries have been committed to reduce greenhouse gas emissions and accelerate the transition to a low carbon economy.

The commitment to move away from fossil fuels, coupled with innovation and declining costs of renewable energy also means new climate related risks as well as new business opportunities for several industries going forward.

The climate agenda is extremely important, and the financial sector has a significant role to play to support the transition towards a zero carbon economy. By supporting the TCFD recommendations we are committing to integrate climate considerations into our governance, strategy, risk management, metrics as well as our external reporting.

Jeanette Fangel Løgstrup

Jeanette Fangel Løgstrup, Head of Societal Impact and Sustainability

The financial sector holds a significant role
Recognizing that climate related risks and opportunities are complex to analyse and understand, the Financial Stability Board has mentioned climate risk as one of the key potential drivers of future financial instability. To start understanding these risks, a global industry led Taskforce on Climate Related Disclosures (TCFD) with Michael Bloomberg in front has outlined a set of recommendations on how institutions can start working with and understanding their climate related risk and opportunities as well as disclose relevant metrics and targets externally.

Read more