20, March 2026

Assessing Global TCFD Compliance: A Cross- Sector Analysis of Climate- Related Financial Disclosure Perspective

VOLUME-12; ISSUE-3; MAR-2026

Author(s): 1. RANJANA CHAHAR, 2. NIDHI SHARMA

Authors Affiliations:

1Senior Research Fellow, Department of Accountancy & Law/Faculty of Commerce, Dayalbagh Educational Institute, Agra, India

2Professor, Department of Accountancy & Law/Faculty of Commerce, Dayalbagh Educational Institute, Agra, India

DOIs:10.2015/IJIRMF/202603017     |     Paper ID: IJIRMF202603017


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In moving the world towards a reduced carbon footprint, it is essential for policymakers, investors, and various stakeholders to have clearer, more specific, and uniform details concerning companies' exposure to climate risks and their capacity to manage them. Consequently, this study aims to assess the extent of corporate financial disclosures related to climate change and their adherence to the Recommendations established by the Taskforce on Climate-Related Financial Disclosures (TCFD) and Evolution of Taskforce on Climate-Related Financial Disclosures (TCFD) Recommendations. The proportion of public companies reporting TCFD-aligned information is on the rise, yet further advancements are required. In the fiscal year 2022 reporting period, 58% of companies provided disclosures that aligned with at least five of the 11 recommended disclosures, an increase from 18% in 2020; however, just 4% reported in accordance with all 11. The proportion of businesses disclosing climate-related risks or opportunities, oversight by the board, and targets related to climate changed drastically — rising by 26, 25, and 24 percentage points, respectively — from fiscal years 2020 to 2022. The study shows that the sample Industry’s disclosure of climate risk-related information sharply increased during the study period. The present research adds to the current body of literature by examining the extent of disclosures related to climate change in accordance with the guidelines set forth by the TCFD, as demonstrated by select Industries.

TCFD, Governance, Strategy, Risk Management, Metrics and Targets

Ranjana Chahar,  Nidhi Sharma (2026); Assessing Global TCFD Compliance: A Cross-Sector Analysis of Climate-Related Financial Disclosures Perspective, International Journal for Innovative Research in Multidisciplinary Field, ISSN(O): 2455-0620, Vol-12, Issue-3, Available on –   https://www.ijirmf.com/

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