Disclosures
Annual Disclosure Guidance
Defines how venture firms can communicate climate progress — seven portfolio alignment metrics and six operational emissions metrics with methodology guidance and examples.
30 min
Overview
The Annual Disclosure Guidance is the VCA's companion reporting document to the Portfolio Alignment Framework. It defines thirteen standardized metrics — seven covering portfolio alignment and six covering operational emissions — that GPs can use to communicate climate progress. The goal is to give stakeholders consistent, comparable data across firms while easing the data collection burden on early-stage teams. Each metric includes a formal definition, industry context, methodology guidance, units, example disclosures, best practices, and links to tools from GHG Protocol, EPA, iCI, IIGCC, GFANZ, and SBTi. Version 1.3, July 2025.
The VCA approach
The four-step model runs through the entire disclosure framework: Lead (measure and reduce your own operational emissions), Recruit (encourage portfolio companies to set net zero targets), Assist (support their decarbonization with tools and guidance), and Track (share progress through these standardized annual disclosures). This gives venture GPs a clear operating model for connecting climate strategy to disclosures.
