Supporting the Recommendations Issued by the Task Force on Climate-related Financial Disclosures (TCFD)
May 07, 2019
Chubu Electric Power Co.,Inc.
Chubu Electric Power has decided, today, to support the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD (Note 1)).
Chubu Electric Power as a company is seeking sustainable growth and increases in corporate value by promoting ESG (Note 2) -based management and further developing business operations that reflect the values of ESG.
Specifically, we are tackling social issues, such as the realization of a low-carbon society, focusing on the keywords low-carbonization, starting with the customer, and digitalization. We are strategically investing in creating community support infrastructure and providing value that grows through interconnections to our customers and the members of our communities.
We recognize that our business endeavors have a significant impact on the earth's environment. Accordingly, as part of our efforts to tackle social issues, we have decided to support the recommendation issued by the TCFD to "analyze the risks and opportunities that climate change has on businesses and to promote information disclosure".
Chubu Electric Power will continue to work on disclosing climate-related information to be accountable to our stakeholders and contribute to the sustainable development of society.
(Note 1) TCFD is an acronym for the Task Force on Climate-related Financial Disclosure. The Task Force was established by the Financial Stability Board (FSB) in response to requests from the G20 Finance Ministers and Central Bank Governors Meeting. In June 2017, the Task Force published recommendations that advocate the disclosure of the financial impacts of risks and opportunities related to climate change to allow investors to make informed capital-allocation decisions.
(Note 2) ESG stands for Environment, Social, and Governance.