This report presents the Task Force’s recommendations for climate-related financial disclosures and includes supporting information on climate-related risks and opportunities, scenario analysis, and issues that the Task Force considered in developing its recommendations. In addition, the Task Force developed a “stand-alone” document—Implementing the Recommendations of the Task Force on Climate-related Financial Disclosures (Annex)—for organizations to use when preparing disclosures consistent with the recommendations. The Annex provides supplemental guidance for the financial sector as well as for non-financial sectors potentially most affected by climate change and the transition to a lower-carbon economy. The supplemental guidance assists prepares by providing additional context and suggestions for implementing the recommended disclosures.