Jul 30, 2020
NGK SPARK PLUG CO.,LTD.
NGK SPARK PLUG Endorses the Recommendations of Task Force on Climate-related Financial Disclosures (TCFD)
NGK SPARK PLUG CO., LTD. (President and COO: Takeshi Kawai; Headquarters: Nagoya, Japan; hereafter NGK SPARK PLUG) has announced its endorsement of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) established by the Financial Stability Board (FSB).
Based on the TCFD recommendations, NGK SPARK PLUG will assess and proactively disclose the financial impacts of climate-related risks and opportunities.
[Our ESG Activities]
As our environmental conservation activities, we have set medium-term environmental targets. Since fiscal year 2016, we have been pursuing our goals under “Global Eco Vision 2020” in which we envision our ideal future. In 2020, we established the “CSR and Sustainability Charter” and the “2030 Long-Term Management Plan NITTOKU BX” to achieve a society where all stakeholders can thrive together. In this endeavor, we define eight ESG-related priority issues (materiality), one of which is “Responding to Climate Change” where we pursue environmental solutions from a long-term perspective.
[About Task Force on Climate-related Financial Disclosures (TCFD)]
TCFD was established by the Financial Stability Board (FSB), an international body comprised of central banks and finance ministries. TCFD provides framework to enhance climate-related financial disclosures. The Task Force published its recommendations report in June 2017 to encourage the disclosure of climate change-related risks and opportunities, and as of June 2020, more than 1,200 entities, including governments, financial institutions and corporations worldwide, declare their endorsement of the recommendations.