Data snapshot: GPs take different approaches to TCFD disclosure

New Private Markets' data snapshot features Unwritten's analysis of how General Partners (GPs) approach climate disclosure under the Task Force on Climate-related Financial Disclosures (TCFD) framework. Its headline finding is that few firms disclose the financial impact of climate risks.

The findings come from Unwritten's benchmark of 47 TCFD reports published by GPs in the UK, EU and US. The sharpest finding concerns financial quantification. Only around one in five managers disclose the financial impact of physical climate risks, and around one in ten do so for transition risks. Unwritten's research also shows that nearly all managers assess climate risks before investing, but US managers lag on ongoing risk management during the hold period.

New Private Markets outlines the opportunity for GPs. Translating climate exposure into financial terms that investment committees and LPs can use remains the industry's biggest gap, and it is exactly the challenge Unwritten's climate risk platform is designed to address.

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