Sumitomo Rubber Supports “Task Force on Climate-Related Financial Disclosures (TCFD)” Recommendations
Jun. 24. 2021
Sumitomo Rubber Industries, Ltd. is pleased to announce that we have recently pledged our support for the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Moving forward, our company will strive to follow the TCFD recommendations by working to actively disclose information concerning both the risks and the opportunities that climate change presents with respect to four key areas of our business: Governance, Strategy, Risk Management and Goals/Indicators.
In December of 2020, the Sumitomo Rubber Group established “Our Philosophy,” a new corporate philosophy framework that will serve as a major driving force to propel us forward with ever greater speed toward the accomplishment of our groupwide business strategy while also placing particular emphasis on engaging in sustainable business activities that promote harmonious coexistence with society and with the natural environment. Our Philosophy defines our Purpose (i.e. the very reason for our existence) thusly: “Through innovation we will create a future of joy and well-being for all.” With this Purpose serving as the basis behind our every decision and as the impetus behind our every action, the Sumitomo Rubber Group will continue working to enhance not only our economic value, but also our value to society so that we may contribute to the development of a more sustainable society.
■Task Force on Climate-Related Financial Disclosures (TCFD)
In light of the major risks that climate change poses in terms of potentially destabilizing financial systems, the Financial Stability Board (FSB), an international financial institution headquartered in Switzerland, established the Task Force on Climate-Related Financial Disclosures (TCFD) in 2017 with the aim of encouraging corporations to disclose information concerning the risks and opportunities that climate change presents in terms of potential impact on corporate finances. As of June 2021, over 2,000 companies, governments, financial institutions and other organizations have pledged their support for the recommendations of the TCFD.
TCFD Website: https://www.fsb-tcfd.org/
In December of 2020, the Sumitomo Rubber Group established “Our Philosophy,” a new corporate philosophy framework that will serve as a major driving force to propel us forward with ever greater speed toward the accomplishment of our groupwide business strategy while also placing particular emphasis on engaging in sustainable business activities that promote harmonious coexistence with society and with the natural environment. Our Philosophy defines our Purpose (i.e. the very reason for our existence) thusly: “Through innovation we will create a future of joy and well-being for all.” With this Purpose serving as the basis behind our every decision and as the impetus behind our every action, the Sumitomo Rubber Group will continue working to enhance not only our economic value, but also our value to society so that we may contribute to the development of a more sustainable society.
■Task Force on Climate-Related Financial Disclosures (TCFD)
In light of the major risks that climate change poses in terms of potentially destabilizing financial systems, the Financial Stability Board (FSB), an international financial institution headquartered in Switzerland, established the Task Force on Climate-Related Financial Disclosures (TCFD) in 2017 with the aim of encouraging corporations to disclose information concerning the risks and opportunities that climate change presents in terms of potential impact on corporate finances. As of June 2021, over 2,000 companies, governments, financial institutions and other organizations have pledged their support for the recommendations of the TCFD.
TCFD Website: https://www.fsb-tcfd.org/