Japan mover forward disclosure on climate risks

Japanese companies have set up a consortium on September 16, 2019 to help improving the reporting of financial impacts of climate-related risks in order to enhance green investments and face climate change issues. 172 Japanese companies (including Mazda Motor, Nomura and Sony) are now supporting the Task Force on Climate-Related Financial Disclosures (TCFD) and have declared their commitment to the topic: this makes Japan the world’s largest supporter of TCFD.

“We strongly hope that Japanese companies will take global leadership in creating a mechanism that enhances climate-related disclosure and green financing to promote environmental innovation,” said Hiroshige Seko, Japan’s trade and industry minister.

The Consortium is part of wider commitment from Shinzo Abe government on a long-term climate change strategy, in contrast with USA climate change position. Japan might have become the good example to follow.

 

For further information, see the articles listed below:

https://www.ft.com/content/727862e4-d760-11e9-8f9b-77216ebe1f17

https://www.reuters.com/article/us-climatechange-financial-disclosure-ja/japan-firms-set-up-consortium-to-enhance-climate-related-financial-disclosure-idUSKCN1SX1AL

https://www.japantimes.co.jp/news/2019/05/27/business/new-consortium-accelerate-climate-related-corporate-disclosures-japan/