DIC Declares Its Support for the Recommendations of the TCFD and Joins to the TCFD Consortium
- News Release
Tokyo, Japan–DIC Corporation announced today that it has declared its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and has joined to the TCFD Consortium of Japan established on May 27, 2019.
The TCFD was established in 2015 by the Financial Stability Board (FSB), the members of which include representatives of the finance ministries, financial regulators and central banks of 25 major countries and regions, as well as other key global financial bodies. The task force developed its recommendations to assist corporate efforts to disclose information on climate-related risks and opportunities.
As signaled by the Paris Agreement, a multinational accord aimed at curbing climate change adopted in December 2015, rising average global temperatures and other aspects of climate change have the potential to significantly impact society, ecosystems and corporate activity, underscoring the need to take action to mitigate this urgent challenge. DIC’s decision to declare its support for the TCFD reflects its recognition that companies will increasingly be expected to focus on growing sustainably with society by achieving a balance between social value, that is, value that contributes to the resolution of social imperatives, and economic value, which underpins corporate growth.
DIC works with its approximately 170 Group companies around the world to conduct its operations in a manner that will ensure the achievement of its vision for the DIC Group, which is to become a unique global company that is trusted by society. In line with its commitment to helping realize a sustainable society, the Company has set a new target for reducing its emissions of CO2 by 30% from the fiscal year 2013 level by fiscal year 2030. Looking ahead, DIC will continue working to strengthen its environmental, social and governance (ESG) initiatives—which are closely linked to its operations—with the aim of further contributing to efforts to combat climate change.
DIC’s sustainability initiatives
■ DIC Subsidiary in Thailand Achieves Silver Medal in EcoVadis Sustainability Assessment (April 11, 2019)
■ DIC Wins New Energy Foundation Chairman’s Award (Adoption and Application Category) in the 2018 New Energy Awards (December 21, 2018)
■ DIC Subsidiary Qingdao DIC Finechemicals Installs Solar Power System (April 26, 2018)
■ DIC Group Company Siam Chemical Industry Installs Solar Panels (September 26, 2017)
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