Mitsui O.S.K. Lines (MOL) has announced that it will participate in the Task Force on Climate-related Financial Disclosures (TCFD) consortium, which was established to provide a forum for discussions among corporations and financial institutions that agree with “TCFD recommendations”. This aims to ensure that companies factor in climate change-related risks and opportunities when they disclose their strategies to investors.
In 2018, backed by the Ministry of the Environment of Japan, MOL analysed scenarios based on TCFD recommendations. A part of this analysis has been introduced in the “Practical Guide for scenario analysis to integrate climate-related risk and opportunities into its own management strategies by utilising TCFD recommendation”, which was released in March.
MOL will utilise knowledge gained through the consortium and engage in effective disclosure of climate change-related risks and opportunities and how they will affect the company’s business, said a release.
