Press Release

English

Press Release
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006

May 23, 2019

MOL to Join Consortium on TCFD (Task Force on Climate-related Financial Disclosures)
-Aims at Effective Disclosure of Climate-related Risks and Opportunities-

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced that it will participate in the Task Force on Climate-related Financial Disclosures (TCFD) Consortium (Note 1), which was established to provide a forum for discussions among corporations and financial institutions that agree with "TCFD recommendations" (Note 2). This aims to ensure that companies factor in climate change-related risks and opportunities when they disclose their strategies to investors.

In 2018, backed by the Ministry of the Environment of Japan, MOL analyzed scenarios based on TCFD recommendation. A part of this analysis is introduced in the "Practical Guide for scenario analysis to integrate climate-related risk and opportunities into its own management strategies by utilizing TCFD recommendation," which was released in March (*following link is in Japanese only).

http://www.env.go.jp/policy/Practical_guide_for_Scenario_Analysis_in_line_with_TCFD_recommendations.pdf

MOL will utilize knowledge gained through the consortium and engage in effective disclosure of climate change-related risks and opportunities and how they will affect the company's business.

(Note 1)
TCFD recommendation
The final report, released in June 2017 by the Task Force on Climate-related Financial Disclosures (TCFD), which was established by Financial Stability Board (FSB), by reflecting intention of G20 Financial Ministers and Central Bank Governors. Four core elements—governance, strategy, risk management, and metrics and targets—are recommended in the report. One item, "Strategy," includes scenario analysis, which analyzes opportunities and risks that climate changes have the impact on corporations.
https://www.fsb-tcfd.org/publications/final-recommendations-report/

(Note 2)
TCFD Consortium
The TCFD Consortium organized and promoted by Kunio Ito, Adjunct Professor, Graduate School of Commerce and Management, Hitotsubashi University and Specially Appointed Professor, Chuo Graduate School of Strategic Management, Hiroaki Nakanishi, Chairman of Keidanren (Japan Business Federation), Makoto Takashima, Chairman of the Japanese Bankers Association, Takehiko Kakiuchi, President and CEO of Mitsubishi Corporation, and Shuzo Sumi, Chairman of Tokio Marine Holdings, Inc.
It provides opportunities for corporations to effectively disclose information related to TCFD recommendations and discuss initiatives for financial institutions and so on to make use of such information in making informed investment decisions.
Please check press release from Ministry of the Environment(In Japanese Language only), Ministry of Economy, Trade and Industry, and Financial Services Agency of Japan for more information.

(Note 3)
Please refer to November 22, 2018 press release:
MOL to Enhance Initiatives on Global Warming - Supporting, and Active Participation in the Task Force on Climate-related Financial Disclosures, Japan Climate Initiative, Ministry of Environment "COOL CHOICE" National Movement -

Top of Page