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Task Force on Climate-related Financial Disclosures (TCFD)
Task Force on Climate-related Financial Disclosures (TCFD)

Measure, manage and reduce emissions

Learn how implementing an electric car salary sacrifice can help meet TCFD requirements and reduce Scope 3 GHG emissions from employee commuting, enhancing investment appeal.

The UK has enshrined mandatory climate disclosures for largest companies in law

 
As the global focus on climate change intensifies, businesses are under increasing pressure to align their operations with sustainable practices. The Task Force on Climate-related Financial Disclosures (TCFD) provides a framework for companies to disclose climate-related risks and opportunities in their financial reporting.

One innovative solution for UK businesses looking to embrace sustainability and reduce their carbon footprint is the implementation of the WeVee electric car salary sacrifice program. This initiative not only helps companies meet TCFD requirements but also significantly cuts Scope 3 greenhouse gas (GHG) emissions associated with employee commuting, making them more appealing to environmentally conscious investors.

We're here to help

When you work with WeVee, you gain a dedicated ally in your sustainability journey, empowering your organisation to embrace a greener future. We can support your business in relation to climate change and TCFD reporting in the following ways:

  • determining the scope and applicability of the FCA ESG rules;
  • conducting gap analyses between firms’ current climate-related processes, controls and disclosures against the TCFD and FCA expectations and requirements; and
  • supporting with the drafting and preparation of TCFD reports.

For more information, please call us.

☎ 020 8012 8190

focus on climate change

Sustainable investing Embracing sustainable practices isn't just an ethical choice; it's a strategic move for companies. Task Force on Climate-related Financial Disclosures (TCFD) requirements offer a roadmap for businesses to proactively address climate risks and opportunities. By aligning with TCFD, companies showcase their commitment to transparency, resilience, and a low-carbon future. This positions them as attractive prospects for sustainable investors seeking to mitigate climate-related risks and capitalise on green opportunities. TCFD compliance sends a clear signal that a company is forward-thinking, adaptive, and ready to thrive in a world where sustainable investment isn't just an option – it's a necessity.
Regulatory framework

TCFD Requirements for UK Businesses

From 6 April 2022, over 1,300 of the largest UK-registered companies and financial institutions were required to disclose climate-related financial information on a mandatory basis – in line with recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD). This included many of the UK’s largest traded companies, banks and insurers, as well as private companies with over 500 employees and £500 million in turnover.

The TCFD framework, established by the Financial Stability Board, encourages businesses to assess and disclose climate-related risks and opportunities. For UK companies, TCFD requirements focus on four key areas:

  • 1. Sustainable Success

    Governance
    Navigate the path to sustainable success with TCFD Governance. Embrace climate considerations at the core of your decision-making processes. Demonstrate strong leadership, board commitment, and environmental stewardship. Align your business with the future of responsible corporate governance and position yourself as a leader in climate resilience.

  • 2. Your Business Roadmap

    Strategy
    Seize climate-related opportunities and mitigate risks. Develop a robust strategy that integrates environmental factors into your business roadmap. Identify climate-related trends, innovations, and potential impacts on your operations. Embrace a forward-thinking approach that not only safeguards your business but also propels you towards a sustainable and prosperous future.

  • 3. Enhance your resilience

    Risk Management
    Elevate your risk management practices with TCFD. Assess climate risks, evaluate potential financial impacts, and enhance your resilience. Implement strategies to mitigate climate-related vulnerabilities and ensure long-term stability. TCFD Risk Management empowers you to proactively address environmental challenges, safeguard investments, and foster trust among stakeholders.

  • 4. Measure what matters

    Metrics and Targets
    Unveil your climate performance with TCFD Metrics and Targets. Transparently report on relevant metrics, quantifying your carbon footprint and sustainability progress. Set ambitious targets aligned with international climate goals. Showcase your commitment to accountability, engage investors, and position your business as a driver of positive change in the transition to a low-carbon economy.
Scope 3 GHG emission reduction

Electric Car Salary Sacrifice Program

By adopting the WeVee electric car salary sacrifice programme, UK businesses not only meet Task Force on Climate-related Financial Disclosures (TCFD) requirements but also make a significant impact on reducing Scope 3 greenhouse gas emissions. This initiative enables employees to transition to electric vehicles, curbing emissions from daily commuting. Such a proactive approach aligns with TCFD's call for climate risk transparency while contributing to a greener future, enhancing the company's sustainability profile and appealing to environmentally-conscious stakeholders. Here's how it works:

  • 1. Empower your workforce

    Employee Benefits
    Empower your workforce with our Electric Car Salary Sacrifice program, aligning with TCFD requirements. Offer employees a green commute solution, boosting morale and well-being while contributing to your sustainability goals. Elevate your company's commitment to a low-carbon future, attracting top talent and demonstrating responsible corporate citizenship.

  • 2. Reduce Scope 3 GHG emissions

    Reduced Emissions
    Drive positive change with our TCFD-compliant Electric Car Salary Sacrifice. Slash Scope 3 emissions by encouraging EV adoption for employee commuting. Make a tangible impact on carbon footprint reduction, showcasing your dedication to environmental stewardship and climate action. Join the movement toward a cleaner, greener future with every mile driven.

  • 3. Highlight your climate action

    Sustainability Showcase
    Stand out as a sustainability leader with our TCFD-aligned Electric Car Salary Sacrifice. Embrace a holistic approach to climate action by enabling employees to choose eco-friendly electric vehicles. Highlight your commitment to ESG values, attracting environmentally conscious investors and stakeholders. Drive financial growth while making a lasting contribution to a more sustainable planet.

  • 4. Reduce operational expenditure

    Financial Savings
    Enhance your financial health with our TCFD-focused Electric Car Salary Sacrifice. Deliver substantial cost savings to employees while driving down commuting emissions. Experience operational efficiency through reduced fuel and maintenance expenses. Simultaneously boost your bottom line and environmental credentials, positioning your business for long-term success in a carbon-conscious world.

ESG Investing

Attracting Environmentally Conscious Investors
As investors increasingly prioritise environmental, social, and governance (ESG) factors in their decision-making, businesses that proactively address climate-related risks and take measurable steps towards reducing emissions become more appealing investment targets. Implementing the WeVee electric car salary sacrifice program aligns with TCFD recommendations, showcasing a commitment to sustainable business practices that resonate with environmentally conscious investors.

Next steps

Get ready for investment
The Task Force on Climate-related Financial Disclosures (TCFD) requirements present UK businesses with an opportunity to enhance their transparency and accountability regarding climate-related risks and opportunities. Implementing the WeVee electric car salary sacrifice program not only helps businesses meet TCFD requirements but also offers a practical solution to significantly reduce Scope 3 GHG emissions from employee commuting. By doing so, companies position themselves as attractive investment targets for those seeking environmentally responsible and forward-thinking enterprises.

To learn more about how the WeVee electric car salary sacrifice program can benefit your business and align with TCFD recommendations, contact us today.
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