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News Release
Fuji Electric Supports the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)
June 18,2020
Fuji Electric Co., Ltd.
Fuji Electric Co., Ltd. (TSE: 6504) (“FE”), headquartered in Tokyo, Japan, led by President Michihiro Kitazawa, is pleased to announce its support for the Task Force on Climate-related Financial Disclosures (TCFD), an international framework for analyzing and disclosing the financial impact of climate change.
FE positions global environmental protection initiatives as a priority issue for management. The intent of its Environmental Vision 2050, announced in June 2019, is for FE to work as the entire supply chain to realize a Low-Carbon Society, a Recycling-Oriented Society, and a Society in Harmony with Nature, in accordance with the Paris Agreement in 2016 and the Plan for Global Warming Countermeasures decided by the Japanese cabinet.
To achieve a Low-Carbon Society, FE is aiming for an 80% or more reduction in greenhouse gas emissions over the entire supply chain. The 2030 targets are a 31% reduction in greenhouse gas emissions during production (as compared with FY2013) and an annual 50 million ton reduction in CO2 emissions from FE products in society.
In April 2020, FE established the SDGs Promotion Committee, composed of the general managers of its various businesses, sales and corporate divisions, to serve as an internal organization for discussing issues and evaluating measures related to the promotion of the SDGs. The results of deliberations and evaluations by the Committee are reported to the Executive Committee and the Board of Directors and discussed as necessary.
Through the promotion of Environmental Vision 2050, FE intends to analyze the risks and opportunities that climate change poses to its business and value chains, together with the financial impacts of these risks and opportunities, and incorporate them into its management strategy and to disclose information proactively.