Otsuka Group Supports Recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) -Joins TCFD Consortium-
- Otsuka Holdings
November 4, 2021
Otsuka Holdings Co., Ltd. (Headquarters: Tokyo, Japan; President and Representative Director, CEO: Tatsuo Higuchi) has announced its support for recommendations issued by the Task Force on Climate-related Financial Disclosure (TCFD) and joined the TCFD Consortium*1, an organization established to facilitate dialogues between financial institutions and other TCFD supporters. The Financial Stability Board created TCFD to encourage recognition and disclosure of climate-related financial risks and opportunities. In June 2017, the TCFD released climate-related financial disclosure recommendations to help companies provide better information for informed capital allocation. The Otsuka group is actively engaged in analysis of climate-related business risks and opportunities and development of appropriate responses.
The Otsuka group has identified the material issues related to environmental initiatives as “climate change,” “resource recycling and conservation,” and “water conservation.” Related to climate change, amidst worldwide efforts toward decarbonization the Otsuka group has established a 2050 Environmental Vision goal of net zero*2 greenhouse gas emissions. With a view to achieving this Vision, group companies will focus on expanding disclosure of climate-related financial information as outlined in the TCFD recommendations.
Based on the corporate philosophy of “Otsuka-people creating new products for better health worldwide,” the Otsuka group is dedicated to contributing to the health of people around the world. Group companies will continue to cooperate to promote optimum energy use and contribute to a decarbonized, sustainable society into the future.
*1: The TCFD Consortium was established to facilitate dialogue between supporting companies and financial institutions regarding effective climate-related financial disclosures and reflection of such disclosures on investment decisions.
*2: Target total of zero when uptake and elimination is subtracted from overall volume of group company greenhouse gas emissions.