SRI supporting TCFD recommendations

Sumitomo Rubber Industries, Ltd. has pledged to support the recommendations given by the FSB’s (Financial Stability Board) Task Force on Climate-Related Financial Disclosures (TCFD). In a statement, the Japanese tyre and rubber products maker declares that moving forward, it will “strive to follow the TCFD recommendations by working to actively disclose information concerning both the risks and the opportunities that climate change presents” in regards to four key areas of its business: Governance, Strategy, Risk Management and Goals/Indicators.

Switzerland-based monitoring body FSB created the TCFD in 2015 with the intention of developing “a set of voluntary disclosure recommendations for use by companies in providing decision-useful information to investors, lenders and insurance underwriters about the climate-related financial risks that companies face.” The TCFD published its disclosure recommendations in 2017.