GS Yuasa Endorses Recommendations of Task Force on Climate-related Financial Disclosures (TCFD) and Joins TCFD Consortium
GS Yuasa Corporation (Tokyo Stock Exchange: 6674; “GS Yuasa”) today announced its endorsement of the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD” *1) and also announced its participation in the TCFD Consortium *2.
GS Yuasa recognizes that climate change caused by global warming is an important issue facing society, and the company is working to reduce greenhouse gas emissions resulting from its business activities. At the same time, the company is also working to help reduce the greenhouse gas emissions of society as a whole through promotion of greater use of storage battery technologies in the renewable energy field.
Based on the recommendations of the TCFD and discussions at the TCFD Consortium, GS Yuasa will move ahead with disclosure of information on the impact on the company’s business activities of climate change-related risks and opportunities.
The TCFD was established by the Financial Stability Board at the request of the G20. In June 2017, the TCFD released a final report recommending that companies and other organizations disclose information on climate change-related risks and opportunities, as well as financial impact-related information on their governance structures, strategies, risk management, and metrics and targets.
For more information on the TCFD: https://www.fsb-tcfd.org/
*2 TCFD Consortium
The TCFD Consortium was established on May 27, 2019 by five founders, including Kunio Ito, a specially appointed professor of postgraduate courses at Hitotsubashi University. The consortium was established in response to the growing momentum for disclosure by companies of climate change-related information in response to TCFD recommendations. Members of the consortium discuss effective disclosure of corporate information as well as initiatives to link disclosed information to appropriate investment decisions by financial institutions and other entities.
For more information on the TCFD Consortium: https://tcfd-consortium.jp/en