TCFD Reporting Software for Climate Risk Disclosure
Meet TCFD recommendations with structured workflows for governance, strategy, risk management, and metrics. Horizon ESG makes climate-related financial disclosure straightforward and auditable.
Built Around the Four TCFD Pillars
Purpose-built tools for every aspect of climate-related financial disclosure.
Governance
Document board oversight and management roles in climate risk with structured templates and approval workflows.
Strategy
Scenario analysis tools for 1.5°C, 2°C, and 4°C pathways with financial impact modelling.
Risk Management
Identify, assess, and manage climate-related risks and opportunities with heat mapping and scoring.
Metrics & Targets
Track Scope 1, 2, and 3 emissions, set science-based targets, and monitor transition plan progress.
Scenario Analysis
Built-in climate scenario tools aligned with NGFS and IEA pathways for forward-looking assessments.
Report Generation
One-click TCFD report generation with all four pillars populated from your live data.
TCFD Pillar Breakdown: Governance, Strategy, Risk, Metrics
Effective TCFD reporting software provides structured templates and guidance for each pillar of climate risk reporting.
Governance
Document board oversight, committee responsibilities, and escalation processes for climate-related risks and opportunities.
Strategy
Scenario analysis across multiple climate pathways to articulate how your strategy is resilient under different temperature outcomes.
Risk Management
Integrate climate risks with your enterprise risk management framework using consistent methodologies and documentation.
Metrics & Targets
Report GHG emissions across Scope 1, 2, and 3, set climate-related targets, and track performance over time.
How Horizon ESG Maps to Each TCFD Pillar
The Task Force on Climate-related Financial Disclosures established four core pillars that form the foundation of climate risk reporting. Effective TCFD reporting software provides structured templates and guidance for each pillar.
Governance
Disclose how your board and management oversee climate-related risks and opportunities. TCFD reporting software helps you document governance structures, board competencies, committee responsibilities, and escalation processes in a format that meets investor and regulatory expectations.
Strategy
Describe the climate-related risks and opportunities your organisation has identified over the short, medium, and long term, and their impact on business strategy and financial planning. Dedicated TCFD software supports scenario analysis across multiple climate pathways, helping you articulate how your strategy is resilient under different temperature outcomes.
Risk Management
Explain your processes for identifying, assessing, and managing climate-related risks. TCFD reporting software integrates with your enterprise risk management framework, ensuring climate risks are assessed using consistent methodologies and documented alongside other business risks.
Metrics and Targets
Report the metrics and targets used to assess and manage relevant climate-related risks and opportunities. This includes greenhouse gas emissions across Scope 1, 2, and 3, climate-related targets, and performance against those targets over time. TCFD compliance requires consistent, comparable, and reliable metrics that dedicated software can deliver.
Does TCFD still apply in 2026?
Yes, for the year most UK companies are reporting on now. The Task Force itself was disbanded in October 2023 and the IFRS Foundation took over monitoring, but the UK obligations built on its four pillars are still in force, and two separate regimes are involved. They are moving at different speeds, which is the part that causes confusion.
Listed companies report climate-related disclosures under the FCA’s TCFD-aligned listing rules. Those are the rules that are changing. Large companies and LLPs report under the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022, in force since 6 April 2022, which sit in company law rather than the FCA rulebook. Those are not part of the FCA’s UK SRS rules, so a company caught by both keeps the statutory duty whatever happens to the listing rules.
The 2022 Regulations catch public interest entities and AIM companies with more than 500 employees, and private companies and LLPs with more than 500 employees and turnover above £500 million. If you are in that population, climate-related financial disclosure in your strategic report is a continuing legal requirement rather than a transitional one.
What changes from 2027, and what carries over
UK SRS S1 and S2, the UK-endorsed versions of IFRS S1 and S2, were published on 25 February 2026. On 30 January 2026 the FCA consulted in CP26/5 on replacing its TCFD-aligned listing rules with UK SRS-aligned requirements. On 30 September 2026 it published the final rules in PS26/19: they apply to accounting periods beginning on or after 1 January 2027, with first reports in 2028.
The final rules apply comply or explain across UK SRS S1 and S2, climate included, with transitional reliefs of one year for Scope 3 and two years for S1. Until those rules take effect, TCFD-aligned reporting is what the listing rules ask for.
The important point for anyone deciding where to invest effort is that the analytical work carries over. IFRS S2, and therefore UK SRS S2, is built on the same four pillars the TCFD set out. Governance, strategy, risk management, and metrics and targets survive the change of name. What is added is depth: value chain emissions, industry-specific metrics, and a requirement that climate information connects properly to the financial statements.
Where each TCFD pillar lands under UK SRS S2
- Governance becomes the governance disclosures in UK SRS S2, with the same board oversight and management responsibility questions, held to a firmer standard of evidence.
- Strategy becomes strategy and decision-making, adding the effects on the financial position, financial performance and cash flows, together with climate resilience assessed through scenario analysis.
- Risk management carries across directly, with the process for identifying, assessing, prioritising and monitoring climate risks and opportunities.
- Metrics and targets expands the most. Scope 1, 2 and 3 emissions under the GHG Protocol, industry-based metrics, and the internal carbon price and remuneration links if you use them.
A TCFD disclosure prepared properly is a substantial part of a UK SRS S2 disclosure. The work is extending it rather than starting again.
What to do between now and your first UK SRS report
- Establish which regimes catch you. Listing rules, the 2022 Regulations, or both. They have different thresholds and different futures, and the answer decides your timetable.
- Close the Scope 3 gap early. Value chain emissions are the longest lead-time item in the standard and the one most likely to need supplier engagement. The comply-or-explain start is time to build the data rather than a reason to defer it.
- Get scenario analysis documented rather than performed once. Climate resilience has to be reassessed, so the scenarios, assumptions and conclusions need to be recorded in a form you can update and defend.
- Connect the climate numbers to the financial statements. Connectivity is an explicit requirement, and it is where teams that kept climate reporting in a separate workbook find the most rework.
- Build the evidence trail now. Assurance expectations are rising across the sustainability regimes, and retrofitting a trail onto two years of spreadsheets is the expensive way to do it.
How Horizon ESG handles the transition
Horizon ESG holds your climate data once and reports it against whichever regime applies. The same governance records, risk register, scenario analysis and emissions inventory produce a TCFD-aligned disclosure today and a UK SRS S2 disclosure when the rules change, without re-entering anything and without a second workbook running alongside.
Scope 1, 2 and 3 emissions are calculated on GHG Protocol methodology with every factor and assumption recorded, so the metrics and targets pillar is consistent with your carbon inventory by construction. Scenario analysis is captured as a structured, repeatable workflow rather than a slide deck, so the following year starts from what you did last year. Every figure keeps a timestamped trail back to its source document, which is what an assurance provider tests when climate disclosures come into scope of their engagement.
Because the platform also covers CSRD and ESRS, ISSB, GRI and SECR, the climate work feeds every other disclosure that needs it. See how the audit trail works on real data, or book a demo.
How Horizon ESG Supports TCFD Reporting
Horizon ESG provides comprehensive TCFD reporting software that covers every aspect of climate-related financial disclosure. Our platform makes TCFD compliance straightforward and auditable.
- Pillar-by-pillar templates: structured disclosure templates for Governance, Strategy, Risk Management, and Metrics and Targets, pre-populated with guidance and examples.
- Scenario analysis tools: model your organisation’s resilience under 1.5, 2, and 4-degree warming scenarios with built-in climate data and financial impact modelling.
- Integrated carbon accounting: Scope 1, 2, and 3 emissions tracking feeds directly into TCFD Metrics and Targets disclosures, ensuring consistency across all climate reporting.
- ISSB readiness: as the transition from TCFD to ISSB progresses, Horizon ESG maps your existing disclosures to IFRS S1 and S2 requirements, highlighting gaps and new obligations.
- Risk register integration: connect climate risks to your enterprise risk framework within the platform, providing auditors and board members with a unified view.
- Audit-ready output: complete audit trails, version control, and approval workflows ensure your TCFD disclosures are ready for limited or reasonable assurance.
Learn more about how Horizon ESG supports your broader sustainability reporting needs on our ESG reporting and CSRD compliance pages.
Frequently Asked Questions
Is TCFD being replaced by UK SRS?
For listed companies, yes. The FCA’s final rules in PS26/19, published on 30 September 2026, replace the TCFD-aligned listing rules with UK SRS-aligned requirements on a comply-or-explain basis for accounting periods beginning on or after 1 January 2027. Large companies and LLPs reporting under the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 keep that statutory duty, because it sits in company law and the FCA rules do not touch it.
Does TCFD work carry over to UK SRS S2?
Largely, yes. UK SRS S2 is built on the same four pillars, so governance, strategy, risk management, and metrics and targets all carry across. The additions are value chain emissions, industry-specific metrics and connectivity with the financial statements, which makes the transition an extension of existing work rather than a rebuild.
Is TCFD reporting still required?
Yes. While the TCFD itself has been disbanded and its monitoring transferred to ISSB, TCFD-aligned disclosure requirements remain in force in many jurisdictions including the UK. The FCA continues to require TCFD-aligned reporting for listed companies and large financial institutions. TCFD reporting software ensures ongoing compliance as requirements evolve toward ISSB alignment.
What is the difference between TCFD and ISSB?
TCFD provided recommendations for climate-related financial disclosures across four pillars. ISSB standards (IFRS S1 and S2) incorporate TCFD recommendations and expand them with additional requirements including industry-specific metrics, value chain considerations, and connectivity with financial statements. TCFD reporting software that supports both standards makes the transition seamless.
Do I need separate software for TCFD and carbon accounting?
No. The best TCFD reporting software integrates carbon accounting directly into the platform. Horizon ESG combines climate risk reporting with Scope 1, 2, and 3 emissions calculations, ensuring your Metrics and Targets disclosures are always consistent with your carbon inventory.
How does TCFD reporting software help with scenario analysis?
TCFD reporting software provides structured scenario analysis tools that guide your team through selecting climate scenarios, identifying physical and transition risks, modelling financial impacts, and documenting the process. This turns a complex analytical exercise into a manageable, repeatable workflow.
Further Reading
Strengthen your climate disclosures
Horizon ESG makes TCFD compliance and the transition to ISSB standards straightforward. Our TCFD reporting software gives your team the structure, data, and audit trails needed for confident climate-related financial disclosures.
Simplify Climate Risk Disclosure
See how Horizon ESG structures TCFD reporting around governance, strategy, risk, and metrics.
Climate risk, evidenced
See TCFD and ISSB disclosures built from the same carbon data.
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From TCFD to ISSB: IFRS S1 and IFRS S2
The ISSB took over monitoring of TCFD-aligned disclosure in 2023, and IFRS S2 carries the
same four pillars forward. For most reporters this is a change of wording rather than a change
of work: governance, strategy, risk management, and metrics and targets all survive the move,
and the data already collected for TCFD is reusable. What changes is the timetable, because
IFRS S1 expects sustainability disclosure alongside the financial statements.
We cover the standards themselves, jurisdiction by jurisdiction, on our
ISSB reporting software page,
and the UK position on our UK SRS
reporting page.