Press ReleasesNippon Paper Industries Expresses Support for the Task Force on Climate-related Financial Information Disclosure (TCFD) recommendations
Nippon Paper Industries Co., Ltd.
Nippon Paper Industries Co., Ltd. (President: Toru Nozawa; headquartered in Chiyoda-ku, Tokyo) today announces its support for the recommendations of the Task Force on Climate-related Financial Disclosure. The TCFD was established by the Financial Stability Board (FSB).
Nippon Paper Industries aspires to be "a comprehensive biomass company shaping the future with trees". It provides society with a wide variety of products and services through the effective use of material from trees, a renewable resource.
The company promotes environmental management, balancing the needs of the environment and the economy. It has always strived to make appropriate information disclosures, taking into account the serious impact of climate change, together with global trends based on the Paris Agreement, and the policies of the Japanese government. In its continuing efforts to build a carbon-neutral industry, the company will expand the disclosure of climate change-related information in line with TCFD recommendations.
■ About TCFD (Task Force on Climate-related Financial Disclosures)
The Task Force on Climate-related Financial Disclosures (TCFD) was established by the G20, through the Financial Stability Board (FSB)*. The TCFD, chaired by Michael Bloomberg, was set up to consider how companies should disclose climate-related information and respond to financial institutions. Their final report, released in June 2017, recommends that companies should make their disclosures under the four headings of: governance, strategy, risk management, and indicators and targets.
* The FSB is an organization, consisting of the finance ministries and central banks of each of the G20 countries, that supervises international finance.