Completing the jigsaw: Taskforce on Inequality and Social-related Financial Disclosures

Following international initiatives on climate-related financial disclosures as well as nature-related financial disclosures, a new coalition of companies, financial institutions, labour representatives and development organisations is working on a framework for inequality and social-related financial disclosures. Charlotte Witherington and Daniel Hirschfield review the launch paper of the TISFD, which sets out the taskforce's proposed scope, approach, governance structure and workplan.

Charlotte Witherington (c.witherington@taylorwessing.com) is head of the UK Financial Services Regulatory Group at law firm Taylor Wessing and has over a decade of experience advising clients on a broad range of financial services matters. Daniel Hirschfield (d.hirschfield@taylorwessing.com) is senior counsel (Knowledge) with the firm.

The Taskforce on Inequality and Social-related Financial Disclosures (TISFD) was launched on 23 September 2024. Complementing the work of the Task Force on Climate-related Financial Disclosures (TCFD) and Taskforce on Nature-related Financial Disclosures (TNFD), each of which has established frameworks for organisations to disclose decision-useful information to stakeholders relating to climate as well as nature-related risks and opportunities respectively, the TISFD is intended to result in a global framework for the disclosure of inequality and social-related impacts, dependencies, risks and opportunities.