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Toshiba Joins Japan's New TCFD Consortium
Supports and to promote recommendations of Task Force on Climate-related Financial Disclosures
TOKYO—Toshiba Corporation (TOKYO: 6502) today announced that it has become a member of the TCFD Consortium, a new, Tokyo-based initiative dedicated to promoting the goals of the Task Force on Climate-related Financial Disclosures (TCFD). As a member of the consortium, and to express its support for the TCFD’s recommendations, Toshiba Group will proactively participate in discussions on effective corporate information disclosure and efforts to assist investors in making appropriate investment decisions. It will also enhance its own ESG information disclosure.
TCFD was established in December 2015 by the Financial Stability Board, the Basel-based organization of central banks and financial supervisory authorities initiated by the G20 countries, on the grounds that climate change threatens stability of financial systems. In 2017, TCFD issued a series of recommendations that encourage companies to develop voluntary, consistent, comparable, trustworthy, clear and efficient climate-related disclosures that support appropriate investment decisions by lenders, insurers, investors and other stakeholders. Today, over 600 financial institutions, companies and governments around the world have expressed their support for the recommendations.
Toshiba Group has consistently positioned environmental management as a key management concern, and promotes efforts to realize affluent lifestyles in harmony with the earth through its innovative products and services and manufacturing activities. These efforts are also contributing to the achievement of the SDGs adopted by the UN in 2015.
Moving forward, Toshiba will cultivate deeper bonds of trust with stakeholders and further contribute to realizing sustainable and affluent societies by applying the TCFD recommendations to the analysis of the risks and opportunities that climate change will bring to businesses. The company will actively disclose climate-related information in reports and publications, such as its annual Environmental Report, in respect of governance, strategy, risk management, metrics and targets, as it seeks to turn on the promise of a new day for people around the world.
See more on TCFD here: https://www.fsb-tcfd.org/