Climate change is one of the major global challenges that will need to be addressed in the 21st century. On the basis of this recognition, the Paris Agreement was adopted and entered into force in 2016. In order to achieve the long-term targets set under this agreement, including limiting the global average temperature increase to two degrees Celsius above pre-industrial levels, countries have presented their greenhouse gas emission reduction targets to the Un and are implementing appropriate measures. Industrialised countries are putting forward measures to create a low-carbon society, while, according to the International Energy Agency (IEA) report, new coal-fired power plants are still being built in some Asian countries. In addition, the Japanese government has set a target of reducing the country`s greenhouse gas emissions by 80% by 2050. We announced our support for TCFD at the One Planet Summit in Paris in December 2017. At the same time, we will constantly support our customers in their efforts to reduce greenhouse gas emissions through measures such as promoting the introduction of environmentally friendly technologies through their business activities. As we are committed to reducing greenhouse gas emissions, we will conduct our business in a way that will contribute to the growth of our customers and society and further strengthen our climate change action. (*1) The Climate Financial Reporting Working Group (TCFD) was established in April 2015 by the Financial Stability Board (FSB) to urge companies to disclose their effects on climate change in their financial reports. To support the goals of the Paris climate agreement, the Financial Stability Board (FSB) created the Climate-Related Task Force Financial Disclosure (TCFD) in 2015. This voluntary disclosure was designed to “provide a framework for businesses and other organizations to develop more effective climate financial information through their existing reporting processes” and to support “more informed investment, credit or credit decisions.” In February 2019, the United Nations Principles for Responsible Investment (PRI) outlined their climate risk strategy and governance indicators in line with TCFD guidelines to become mandatory for IRP signatories from 2020, but to voluntarily publicly disclose climate change-related events, such as the emergence of large-scale disasters due to extreme weather conditions and the deterioration of assets linked to CARBONE , in line with the transition to low-carbon societies. reassessed among the best risks. It was within this framework that efforts began to strengthen scenario analysis and examine counter-measures at the management level.
These measures are notified to the Management Committee and the Risk Committee and audited by external directors at board meetings. UNEP`s vision is to use the convening power of the United Nations to bring together financial institutions, regulators, climate scientists and industry experts to address critical issues of climate risk to the financial sector.