The Teijin Group announced today that it has joined the Task Force on Climate-related Financial Disclosures (TCFD) Consortium, an initiative supported by Japan’s Ministry of Economy, Trade and Industry, Financial Services Agency and Ministry of the Environment.
The TCFD, which was established by the Financial Stability Board (FSB), issued its recommendations for voluntary, consistent climate-related financial disclosures by companies in June 2017, creating momentum toward the action for TCFD in Japan. The TCFD Consortium, which was just established on May 27, is a platform for promoting the responsible disclosure of climate-related financial information by businesses and the use of this information in the investment decisions of financial institutions.
In March, the Teijin Group announced its support for the TCFD’s recommendations, including for its own transparent disclosure of financial information. By participating in the consortium, the Teijin Group aims not only to actively support TCFD objectives but also to strengthen communication with its stakeholders regarding climate-related risks and opportunities and to reflect the objectives in the company’s business strategies.
Going forward, the Teijin Group aims to be a company that supports the society of the future by providing not only chemical-based solutions for materials, etc. but also solutions for enhanced quality of life under the global message “Future Navigation – Toward the world we all desire.” The Teijin Group, which celebrated its 100th anniversary last June, aims to achieve sustainable growth contributing actively to ‘a low-carbon society’, ‘a recycling-based society’, and ‘a society to preserve the global environment’, to help overcome key global problems with the understanding that business can have an impact on the environment.
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has over 170 companies and around 20,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY888.6 billion (USD 8.1 billion) and total assets of JPY 1020.7 billion (USD 9.3 billion) in the fiscal year ending March 31, 2019.