Shifting the focus of sustainability accounting from impacts to risks and dependencies: Researching the transformative potential of TCFD reporting

Purpose: This paper problematizes TCFD (Task Force on Climate-related Financial Disclosures) reporting in a way that demonstrates areas where academic research can contribute towards realising the transformative potential of this unique form of sustainability accounting in its early stages of development.
Design/methodology/approach: The paper proposes a number of research agendas for impactful interdisciplinary research into new forms of corporate reporting of sustainability risks, opportunities and dependencies.
Findings: There are several major challenges that both reporting corporations and investors need to address in realising the potential of TCFD-style risks, opportunities and dependencies reporting. Key among these is developing new practices of climate-related scenario analysis and reporting. Practical implications: There is potential for many different academic research studies to provide solid evidence in helping improve the practical impact of TCFD-style sustainability reporting. These impacts may assist in moving corporate policies and actions towards zero carbon.Originality/value:This is the first agenda-setting paper that addresses the need for, and opportunities of, academic research into TCFD reporting and its potential to transform corporate accounting and reporting of sustainability.