Having worked in the climate change, energy and reporting space for many, many years we have seen the evolution from ad-hoc and inconsistent focus and reporting to a more nuanced appreciation of the complexity and impact of climate change issues.
Some organisations are further ahead than others and the leaders are integrating their climate change response through the alignment of their sustainability strategy with their business strategy and looking at current decisions based on the future. However not everyone is on the same page.
The increased appreciation of the complexity of climate change issues, coupled with the lack of consistent reporting and global transparency led the Financial Stability Board to establish the Taskforce on Climate-related Financial Disclosures (TCFD) in November 2015 to look at the risks, opportunities and financial impacts of climate change and establish a disclosure framework to assist organisations better understand the issues and report them to their stakeholders, particularly investors.
The Final TCFD Recommendation Report  released on 29 June 2017 is recognition of the multi-faceted and pervasive impact of climate change on all organisations. It reflects the fact that climate change presents risks and opportunities for companies and that these can (and most likely will) have financial impacts.