Washington, D.C., December 7, 2017 - The Institute of International Finance (IIF) today released the following statement announcing a forum in support of the Task Force on Climate-Related Financial Disclosures (TCFD):

The IIF strongly supports the work of the TCFD-an industry-led initiative developing voluntary, market-based and consistent climate-related financial risk disclosures by companies to assist investors, lenders, and insurance underwriters in understanding material climate-related risks. Recognizing the need for peer engagement and knowledge sharing as TCFD recommendations are adopted, we are pleased to announce the launch of the IIF Forum on Implementation of TCFD Recommendations. The forum will allow participants-including preparers and users-to share perspectives and experiences in implementing the TCFD recommendations, with a view to promoting consistency across industries and jurisdictions. This new group will operate under the umbrella of the IIF Green Finance Working Group, convening representatives across the financial services industry including banks and institutional investors.

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The Institute of International Finance is the global association for the financial industry, with close to 500 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. Within its membership IIF counts commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.'