Climate-related Financial Risk Disclosures (TCFD) for Cities

Climate-related Financial Risk Disclosures (TCFDs) for Cities


Disclosing climate risk of municipalities is important as cities are on the frontlines of climate change infrastructure and investments. Canadian cities in CUSP’s membership are showing leadership by collaborating on a multiyear phased initiative to begin disclosing and ultimately quantifying climate-related financial risk and opportunity.

Following the publication of Recommendations of the Task Force on Climate-related Financial Disclosures in 2017, CPA Canada, with funding from Natural Resources Canada, gathered a working group in order to consider TCFDs in a Canadian municipal context. Over the course of 2019, CPA Canada worked with staff from CUSP and its member cities of Montreal, Toronto, and Vancouver along with other partners such as the Public Sector Accounting Board (PSAB), C40 cities, ICLEI, FCM, and others to develop recommendations for adapting TCFDs for Canadian cities.
CUSP member cities Montreal, Vancouver, Edmonton, and Toronto are already incorporating TCFD disclosures and recommendations into their annual reports.  

2021-2025 Projects and Partnerships

Ongoing projects, future directions and openings for collaboration.
Call to partners opportunity statement.

Knowledge Centre

A selection of completed documents and information relating to this initiative.
Explore our complete collection of resources or look for specific items in our Resource Library.

CUSP & CUSP Partner Publications

Leading Cities