Supporters of this statement, not only welcome the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), but are actively working towards more comprehensive and robust physical climate-related risk assessments and disclosures.

It is only in creating a market-wide, evidence-backed, comparable and standardised approach on physical climate risk that the financial sector will be able to price climate risk, thus building finance sector resilience and helping to identify where and how our economy and society need to adapt to a changing climate.