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Its purpose is to develop voluntary, consistent disclosures to help investors, lenders and insurance underwriters manage material climate risks.
Having a globally consistent framework for reporting on material climate change risks will accelerate this trend," she said.
Soil is a function of parent material, climate, time, vegetation, relief, soil fauna and soil microflora.
The development of scenario analysis is another key element in the quest for material climate change-related financial information.
If companies explain their materiality determination process, users of information can understand and scrutinize the decisions that have been made about what constitutes a material climate risk.
This is well-known qualitatively in that topography, along with parent material, climate, biota, and time, is one of the fundamental soil forming factors.
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Most G20 countries already require businesses to disclose "material" climate-related risks in their financial reports.
The SEC previously issued guidance in 2010 showing how information on material climate-related risks should be disclosed in companies' financial reports.
Many investors continue to express concern about the inadequacy of nonfinancial disclosure in companies' annual reports and in proxy disclosures, even for areas like material climate-related risks that have been the subject of SEC guidance.
The FSB Task Force on Financial Disclosure (@FSB_TCFD on Twitter) points out that in most G20 jurisdictions, companies with public debt or equity have a legal obligation to disclose material risks in their financial reports including material climate-related risks.
Studies of soil chronosequences are especially important in these interpretations of soils and palaeosols, but it is also essential to take into account the complex response of soil-forming processes to varying landscape position, parent materials, climate, and vegetation.
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