Companies’ responses to the risks and opportunities posed by climate change and the transition to a low carbon economy are at the forefront of the minds of investors, regulators and other users of corporate reporting. Comprehensive, high-quality and internally consistent climate-related disclosures lead to greater transparency about companies’ responses to these challenges which, in turn, helps investors to make more informed investment decisions. In response to these considerations, the Financial Conduct Authority (FCA) introduced specific TCFD climate-related disclosure requirements for listed companies, with the first reports issued by premium listed companies in relation to December 2021 year ends. This thematic report sets out the results of the FRC's review. The FCA have also published a separate report setting out the results of their preliminary review of premium listed companies’ TCFD disclosures, which includes an analysis of companies’ TCFD disclosures by sector and company size.