Brother to Comply with the Recommendations by the Task Force on Climate-related Financial Disclosures
February 12, 2020
Brother Industries, Ltd.
Brother Industries, Ltd. (President: Ichiro Sasaki) announced its agreement to comply with the recommendations by the Task Force on Climate-related Financial Disclosures (TCFD)*1. Based on TCFD's recommendations, the company will analyze business risks and opportunities raised in relation to climate change and apply results of analysis on its business strategies, while aiming to disclose information related.
Brother has been taking on challenges actively to create shared values for the next phase which lead to future prosperity, as it strives to contribute to achievement of SDGs through its businesses under the Brother Group Environmental Policy.
To tackle with critical social issues, such as climate change, resource depletion, environmental pollution and disruption of ecosystem, the group formulated the Brother Group Environmental Vision 2050 in 2018 and established the Mid-term Target for FY2030 as a milestone.
As for climate change, Brother is working proactively to reduce CO2 emissions in all the business activities throughout its value chain to contribute to creating a decarbonized society that the global community aspires to realizing. In July 2018, Brother's mid-term targets for reduction of CO2 emissions set under the Brother Group Environmental Vision 2050 were validated as science-based targets aimed at achieving the Paris Agreement's 2-degree Celsius goal; a goal to limit global temperature rise to below 2 degrees Celsius, through an international environmental initiative, the Science Based Targets initiative (SBTi)*2.
- The Task Force on Climate-related Financial Disclosures (TCFD). An organization established in 2015 by the Financial Stability Board (FSB), an international body which members include central banks and financial regulatory bodies of major countries, etc. In June 2017, TCFD made recommendations concerning information disclosure with an objective to understand and reveal financial impacts imposed by risks and opportunities related to climate change.
- Science Based Targets initiative (SBTi). Established and run by four organizations: CDP, World Resources Institute (WRI), World Wide Fund for Nature (WWF), the United Nations Global Compact (UNGC), with an aim to promote science-based targets for reduction of greenhouse gas emissions to limit global temperature rise to below 2 degrees Celsius over pre-industrial levels.