Tcfd And Paris Agreement
Climate change is one of the main global problems to be addressed in the twenty-first century. Based on this recognition, the Paris Agreement was adopted and entered into force in 2016. In order to achieve the long-term objectives set out in this Agreement, including limiting the increase in global average temperature to two degrees Celsius above pre-industrial levels, countries have submitted to the UN their greenhouse gas emission reduction targets and are implementing appropriate measures. Developed countries are taking steps to create a decarbonized society, while, according to the International Energy Agency (IEA) report, new coal-fired power plants are still being built in some Asian countries. In addition, the Japanese government has set a goal of reducing the country`s greenhouse gas emissions by 80% by 2050. At the “One Planet Summit” in Paris in December 2017, we announced our support for the TCFD (*1). At the same time, we will continue to support our customers in their efforts to reduce greenhouse gas emissions, for example by encouraging the introduction of environmentally friendly technologies through their business activities. As we are committed to reducing greenhouse gas emissions, we will manage our business in a way that will contribute to the growth of both our customers and society and further improve our measures to combat climate change. (*1) In April 2015, the Task Force on Climate Conflict (TCFD) was created by the Financial Stability Board (FSB) to invite companies to report on their effects on climate change in their financial reports. To support the objectives of the Paris Climate Agreement, the Financial Stability Board (FSB) launched the Task Force on Climate Financial Records (TCFD) in 2015. This voluntary disclosure platform was designed to “provide companies and other organizations with a framework to develop more effective financial climate information through their existing reporting processes” and to support “more informed investment, credit [or credit] and underwriting insurance decisions.” In February 2019, the United Nations announced that its climate risk strategy and governance indicators in line with the TCFD guidelines would become mandatory for PRI signatories from 2020, but we are ready to cooperate with government leaders to implement these measures. Recently, climate change-related events, such as the occurrence of large-scale disasters due to extreme weather and the deterioration of carbon-related assets, in line with the transition to a low-carbon society, have been re-elected among the highest risks. .