Climate change is one of the major global challenges that will need to be addressed in the 21st century. On the basis of this recognition, the Paris Agreement was adopted and entered into force in 2016. In order to achieve the long-term targets set under this agreement, including limiting the global average temperature increase to two degrees Celsius above pre-industrial levels, countries have presented their greenhouse gas emission reduction targets to the Un and are implementing appropriate measures. Industrialised countries are putting forward measures to create a low-carbon society, while, according to the International Energy Agency (IEA) report, new coal-fired power plants are still being built in some Asian countries. In addition, the Japanese government has set a target of reducing the country`s greenhouse gas emissions by 80% by 2050. We announced our support for TCFD at the One Planet Summit in Paris in December 2017. At the same time, we will constantly support our customers in their efforts to reduce greenhouse gas emissions through measures such as promoting the introduction of environmentally friendly technologies through their business activities. As we are committed to reducing greenhouse gas emissions, we will conduct our business in a way that will contribute to the growth of our customers and society and further strengthen our climate change action. (*1) The Climate Financial Reporting Working Group (TCFD) was established in April 2015 by the Financial Stability Board (FSB) to urge companies to disclose their effects on climate change in their financial reports.
To support the goals of the Paris climate agreement, the Financial Stability Board (FSB) created the Climate-Related Task Force Financial Disclosure (TCFD) in 2015. This voluntary disclosure was designed to „provide a framework for businesses and other organizations to develop more effective climate financial information through their existing reporting processes“ and to support „more informed investment, credit or credit decisions.“ In February 2019, the UN Principles of Responsible Investment (PRI) outlined its climate risk strategy and governance indicators in line with the TCFD guidelines, which will become mandatory for IRP signatories from 2020, but which voluntarily divide it publicly:SGX is pleased to support the broad work of the Climate Financial Information Task Force (TCFD).
