Japanese TCFD Consortium Launched
Amid growing momentum for disclosures in alignment with the Task Force on Climate-related Disclosures (TCFD) recommendations, Japans Ministry of Economy, Trade and Industry (METI), Financial Services Agency and Ministry of Environment are launching a Japanese TCFD Consortium, which will develop an effective implementation for the TCFD recommendations in that country.
The TCFD Consortium offers a platform for financial institutions and corporations who have expressed support for the TCFD recommendations to be involved with the implementation. There will be an annual general meeting for all members, as well as working groups who meet more frequently. The disclosure working group will discuss what constitutes effective disclosure, covering topics including medium (hint hint)of disclosures, scenario analysis and sector specific disclosure. The working group on information use will discuss how disclosed information is used for investment decision making.
METI expects that the Consortium will discuss and discover model approaches to effective disclosure, which can be implemented in Japan and assessed in global markets.
The TCFD Consortium launch ceremony will be on the 27 May. Find out more here.