TIFD in the News

The Taskforce on Inequality-related Financial Disclosures (TIFD) and the Taskforce on Social-related Financial Disclosures (TSFD) have announced their consolidation into a single initiative to address social and inequality risks in financial reporting. The finance sector, which has been calling for greater harmonization and standardization of disclosure frameworks to make it easier to assess companies' ESG performance, is expected to be significantly impacted.

Two organisations developing frameworks for financial disclosures for social and inequality-related risks are merging into a single initiative. The Taskforce on Inequality-related Financial Disclosures (TIFD) and Taskforce on Social-related Financial Disclosures (TSFD) are joining forces to design a disclosure framework similar to those established for climate and nature-related risks.

The Taskforce on Inequality-related Financial Disclosures (TIFD) and the organisations preparing a Taskforce on Social-related Financial Disclosures (TSFD) are consolidating efforts into a single initiative. Planned framework provisionally encompasses social and inequality-related risks and opportunities affecting financial stability and long-term enterprise value creation

TIFD and the organisations preparing a Taskforce on Social-related Financial Disclosures (TSFD) – two initiatives that have been developing in parallel – are now consolidating efforts into a single initiative.

The U.N. Development Programme joins the interim secretariat of the Task Force on Inequality-related Financial Disclosures.

The UN Development Programme has joined the Task Force on Inequality-related Financial Disclosures (TIFD) as the newest member of the Interim Secretariat.

The UN Development Programme has joined the Task Force on Inequality-related Financial Disclosures (TIFD) as the newest member of the Interim Secretariat.

The Task Force on Inequality-related Financial Disclosures (TIFD), a global collaborative effort to develop a systemic risk management framework that can reduce socio-economic inequality created by the private sector, today announced that the United Nations Development Programme (UNDP) has joined the Interim Secretariat. The appointment will be made at TIFD’s second Global Meeting on November 3, where TIFD stakeholders from civil society, financial institutions, companies, academia, and governments will gather to learn about updates on the development of TIFD and deliberate on next steps based on lessons from other frameworks.

To help investors and regulators address the problem of systemic inequality and its destabilising economic impacts, a Task Force on Inequality-related Financial Disclosures (TIFD) is being developed, building on existing standard-setting efforts […] With an eye towards alignment with the Sustainable Development Goals (SDGs), TIFD aims to launch in 2025 with guidance targets, metrics and thresholds for companies and investors to measure and manage their impacts on inequality, as well as inequality’s impacts on company and investor performance.

On social issues, the Church Commissioners of England has become an ally of the Task Force on Inequality-related Financial Disclosures, under the Respect for People responsible investment pillar.

“As a universal asset owner, we need the whole market to do well. As an ethical investor, we want to see unjust social structures broken down and inequalities reduced,” said Dan Neale, Social Themes Lead for the Church Commissioners for England. “The TIFD and any future disclosure frameworks are an important step in addressing inequality. If a TIFD wasn’t already being set up, then we’d be pushing for one.”

[…] To help investors and regulators address the problem of systemic inequality and its destabilizing economic impacts, a Task Force on Inequality-related Financial Disclosures (TIFD) is being developed, which builds upon existing standard-setting efforts. Inspired by the successful uptake of the Task Force on Climate-related Financial Disclosures (TCFD), TIFD is a systemic risk management framework created through a collaboration among investors, civil society, business, financial regulators, policy makers, and academics to help all market actors know how to reduce inequality created by the private sector.

The Church Commissioners for England believe that inequality represents a systemic risk that threatens our social systems and well-functioning markets, and as a responsible investor the Commissioners should working to address. As part of the approach, the Commissioners have become an Ally of the Taskforce on Inequality-related Financial Disclosures (TIFD), under the Respect for People responsible investment pillar.

Update, June 8, 2022: The TIFD Interim Secretariat has published Frequently Asked Questions on the RFP. Also, the deadline for the submission of proposals has been extended to June 30, 2022. Click here to access the FAQ.

The Task Force on Inequality-related Financial Disclosures (TIFD) project seeks applications from innovative facilitators to design and facilitate a unique and complex systems change project that seeks to center rights holders in a process to co-create a financial disclosure framework for addressing inequality. Proposals should be sent to info@thetifd.org by May 23, 2022.

The Task Force on Inequality-related Financial Disclosures is being designed as a tool for ‘systemic risk management.’

[…] Income inequality needs to be dealt with in a similar manner as climate change because they are both systemic problems. Income inequality affects companies in every industry and all asset classes, harming long-term valuation creation and hindering investors’ returns. Like climate change, this problem transcends portfolios, and creates a ripe opportunity for investors, and the broader financial community, to engage at a systemic level to solve. But a new approach to stewardship is needed to tackle this challenge as there are no clear methodologies to help investors think in systems’ terms about their stewardship approaches. In a new report on Systemic Stewardship: Investing to Address Income Inequality, The Investment Integration Project (TIIP) helps fill this gap in the industry.

The Tipping Point Fund on Impact Investing, a donor collaborative with a mission of scaling the impact investing market with integrity, awarded a grant to the organizations behind TIFD to help incubate the idea. Inspired by the widespread uptake of the Task Force on Climate-related Financial Disclosures (TCFD), TIFD is envisioned as a systemic risk management framework, complete with targets, metrics and thresholds, to reduce inequality created by the private sector.

(By Imraan Valodia, Southern Centre for Inequality Studies) — Plans are afoot to make amendments to South Africa’s Companies Act that would require companies to report on wage differentials. This is the gap between executive pay and the lowest paid workers in the company. The announcement was made by South Africa’s Minister of Trade and Industry Ebrahim Patel. This is a significant development. And in my view, long overdue.