A new survey carried out by HSBC has found that less than 10 percent of investors and companies are aware of the Taskforce on Climate-related Financial Disclosures (TCFD), which last year issued guidelines on how businesses should report on material risks arising from climate impacts and the low carbon technology transition. HSBC conducted direct interviews with over 1,700 senior executives at companies looking to raise funds and large scale institutional investors. The average size of companies surveyed was $23.8 billion in market cap, while the investors polled boasted average assets under management nearly $180 billion. Despite being from the constituency directly targeted by the TCFD’s recommendations on how to improve climate-related disclosures, only eight percent of companies and 10 percent of investors were aware of the taskforce’s existence.

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