The Task Force on Climate-related Financial Disclosures (TCFD) is now a legacy framework. It formally disbanded in October 2023, and its recommendations are fully incorporated into the ISSB’s IFRS S2 climate standard, the global baseline adopted or being adopted in more than 35 jurisdictions.
A few regimes, including the UK’s FCA listing rules, still require TCFD-aligned reporting until the UK’s SRS-based rules take effect in January 2027. New Zealand’s mandatory climate-related disclosures are TCFD-aligned as well. But for most companies, climate disclosure now runs through IFRS S2.
That shift is worth holding onto while you compare tools, because the platforms in this category have not moved at the same speed. Some now treat IFRS S2 as the destination and TCFD as one output among many. Others are still built around TCFD itself and do not mention IFRS S2 or ISSB anywhere in their materials. A tool in the second group can still be the right call if your obligation is genuinely TCFD-shaped, but it is a thin foundation if you expect to report under IFRS S2 within a year or two.
Here is roughly where the five platforms below sit:
- Tracera and Watershed both report under IFRS S2 alongside CSRD and California’s rules.
- Novisto publishes the longest framework list of the group, covering IFRS S1 and S2, TCFD, GRI, SASB, CSRD and CDP.
- EcoOnline covers TCFD, CSRD, CDP, SECR and California’s SB 253 and SB 261, but names neither IFRS S2 nor ISSB.
- FutureTracker is the most narrowly scoped, with a guided TCFD reporting tool and no IFRS S2 coverage.
What features go into a good climate disclosure tool?
Before we start the battle royale, here are the key features that separate the best from the rest:
- Qualitative reporting automation for aspects such as governance, strategy, and risk management gives you a starting point for IFRS S2 and TCFD-aligned reporting.
- Guided responses and sample templates keep guesswork at bay by bringing more accuracy and clarity into reporting.
- Data integration should work across various systems and data sources you’re already using.
- Reports and dashboards should be easily customizable to suit business- or investor-specific needs.
- A user-friendly interface always comes in handy so users can easily get started with the new tool.
- Compliance and audit support reports give you the proof you need in case a regulator comes around asking questions.
Let’s see which tools match these criteria.
Top five climate disclosure software to get you started
1. Tracera — an all-in-one powerhouse
Tracera gives you all the tools you need for climate disclosure under IFRS S2 and TCFD (and beyond!) in a single platform. If you want a tool that covers everything from data collection to report automation, this is it. Here’s what makes Tracera a top pick:
- Qualitative automation for climate strategy and risk management: Automate answering qualitative questions related to your organization’s climate strategy, governance, and risk management. This will save you time while ensuring responses are comprehensive and consistent.
- Template responses for more clarity: Access sample responses to guide the completion of climate disclosure questions, helping users navigate the complexities of climate disclosures and improve reporting accuracy.
- Detailed data collection: Whether it is carbon footprint calculations or risk analysis, Tracera brings it all under one roof.
- User-friendly interface: No coding or tech savviness is needed as anyone can get started with it in seconds.
2. Novisto — a data-first pick
As a data-first solution, Novisto is a go-to climate disclosure tool for advanced analytics and integration. Its depth means the most advanced features reward some ramp-up:
- Automated data handling: Novisto helps you collect climate-related data well by pulling information from different sources whilst adhering to leading disclosure frameworks, including IFRS S2/ISSB and TCFD.
- Framework-ready reporting: The platform supports disclosure across IFRS S1/S2, TCFD, GRI, SASB, CSRD, and CDP, so you can collect your ESG data once and report to many frameworks.
“We love that Novisto provides a single store of data for our ESG information. If we use our annual ESG report as an input, Novisto provides us with the ability to leverage our existing data as an output to answer ESG rating agencies and develop additional disclosures.” — Sarah F., Manager, Investor Relations & ESG
3. FutureTracker — task-based TCFD reporting
FutureTracker is a Guernsey platform, powered by ESI Monitor. Its TCFD Reporting Tool breaks disclosure into organized sections of multiple-choice questions, with written guidance where a set answer will not fit, then generates a structured report aligned to TCFD recommendations.
That suits an organization whose obligation is still TCFD-shaped, such as one working to Guernsey’s Code of Corporate Governance, which asks boards to assess climate impacts. It is a weaker fit if IFRS S2 is on your horizon, because FutureTracker does not currently address it.
The platform pairs the TCFD tool with its wider plans, which cover GHG Protocol emissions measurement, CSRD, UN Global Compact and B Corp reporting.
- Risks and opportunities identifier: Assess the climate risks and opportunities pertinent to your operations.
- Guided responses: Work through organized multiple-choice questions, with written guidance where a set answer will not fit.
- Automated report generation: Receive a standardized report in lockstep with TCFD recommendations.
- Assigned sustainability expert: Plans include a named expert alongside the platform.
4. Watershed — an enterprise sustainability platform
Watershed is a broad enterprise sustainability platform spanning emissions measurement, disclosure, and decarbonization. It supports climate reporting under IFRS S2/ISSB alongside CSRD and California’s climate disclosure rules, with features like:
- Smart workflows: Use these to align with multiple frameworks. By pulling from past measurements and targets, the platform can auto-populate multiple reports.
- Reusable metrics: Reuse and amplify your climate insights to support reporting, model scenarios, determine actions, create targets, and finance scientifically vetted carbon removal using the platform’s own marketplace.
5. EcoOnline — for climate scenarios
If your focus is the climate risk side of disclosure, EcoOnline offers dedicated functionality like:
- TCFD risk assessor software: Understand what’s behind physical risks (e.g. heat extremes, drought, flooding) concerning your organization or supply chain and how you can address them.
- Climate scenario modeling: Simultaneously analyze various climate scenarios to get possible future outcomes and their potential consequences on your business.
Ready for the final verdict?
Each of the climate disclosure software picks above has its strengths, but the best solution depends on what your business needs.
Our overall winner is Tracera thanks to its mix of advanced features with a simple-to-use platform, driven by automation. The right climate disclosure software can save you considerable time and increase reporting accuracy.