TASK FORCE FOR DIGITAL-RELATED
TDFD has been created to support the companies with adoption, reporting and integration of the Digital-ESG framework.
We live in a Digital Economy, which accounts for 30% of the global economy in 2022, or over USD 30 trillion due to the rapid digital transformation triggered by the COVID-19 pandemic.* In the digital world, we face digital-related risks and therefore, in addition to the Environment, Society and Governance issues, we need to consider the Digital-related issues. Digital-ESG framework combines these challenges in a holistic solution to support the companies in the Digital Economy. Digital-ESG does not replace the mainstream ESG frameworks, instead serves as an extra layer to measure the impact from an organization’s digital-related activities.
Benefits of Adopting the Digital-ESG
Provides a holistic framework for risk assessment governed by digital-related regulations and frameworks, that are not included in the existing ESG framework
Enables companies to achieve sustainability goals in a new innovative way using technology through digital transformation
Digital-ESG framework enables organizations to create digital opportunities empowering them to generate more value for all stakeholders.
Understanding Digital-ESG Framework
The digital transformation has already changed the reality of the world that we are living in. In the digital world, people face various digital-related risks, such as phishing, online sexual abuse of children, failure of crypto, massive customer data leaks, and more.
UN SDGs and existing ESG frameworks focus on the Earth’s sustainability issues such as climate change, pollution, and wastes.
The Digital-ESG framework combines these challenges in a holistic solution that can provide a new perspective for how ESG frameworks should be inclusive and digitized.
The TDFD guidelines for digital-related risks and opportunities, being developed based on the Digital-ESG Framework, is an actionable tool for investors and other capital market participants to provide information about companies’ digital-related risks and opportunities and help them make informed decisions. It adopts the principles and approaches of the Task Force on Climate-related Financial Disclosures (TCFD). Along these lines, we propose structuring disclosures around the four themes that represent core elements of how companies operate: governance, strategy, risk management, and monitoring.
TDFD is a task force of organizations from across sectors aligned on the mission to support organisations with adoption, reporting and integration of Digital-ESG goals. The task force brings people, knowledge and resources together to develop an evidence-based disclosure framework for digital-related risks and opportunities.
There are several ways to join the task force:
Join a roundtable focused on engagement, enlightenment and enhancement
Join the Knowledge hub, an on-going collaboration for exchange of knowledge and information that support the TDFD guidelines
Join the industry-specific working groups to identify and address specific issues in the respective industries.