News Release

We have expressed our support for the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD), and have joined the TCFD Consortium, which is comprised of companies, financial institutions and other entities that support the TCFD in Japan.
In accordance with the group's mission of "Carving a better future for society and the environment," as defined in the group's Corporate Philosophy, and based on the recommendations of the TCFD, we will proactively disclose information on both the risks and opportunities that climate change presents to our business. Through these efforts, we will aim to realize the corporate image set forth in our long-term business plan, OVOL Vision 2030.

The Task Force on Climate-related Financial Disclosures (TCFD) was established by the Financial Stability Board (FSB)* to study climate-related information disclosure and how financial institutions should respond.
Climate change, a global issue, is becoming a factor that has a serious impact on corporations, and is turning into either a "risk" or an "opportunity" for mid- to long-term business activities. Under these circumstances, it has become necessary for companies to incorporate the climate change factor into their business strategies in order to achieve sustainable growth.
The final TCFD report recommends that companies assess the financial impact of climate change risks and opportunities on their operations and disclose them in four areas: governance, strategy, risk management, and metrics and targets.

The TCFD Consortium is a group of companies and financial institutions that support the TCFD. It was established in Japan to discuss effective corporate information disclosure and how to use disclosed information to help financial institutions make appropriate investment decisions.