Valuence Announces Letter of Commitment to the SBT Initiative, Endorsement of the Climate-related Financial Disclosure Task Force (TCFD) Recommendations, and Membership in TCFD Consortium
The group has also endorsed the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD)*2, as well as membership in the TCFD Consortium*3.
Strengthening Efforts to Address Climate ChangeThe Valuence Group has established climate change-related materialities, dealing with this urgent and important worldwide issue. In October 2021, the group announced its goal to become carbon neutral throughout its entire value chain by the year 2030*4 to fulfill its social responsibility.
And now, the group submitted a commitment letter to the SBT Initiative (SBTi), an organization that certifies science based targets, which are science-based greenhouse gas emission reduction targets in line with the Paris Agreement.
The group also endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) established by the Financial Stability Board (FSB) and joined the TCFD Consortium.
In the future, the group intends to set goals for limiting global temperature increase to less than 1.5°C compared with pre-industrial levels, obtain SBT certification, and make disclosures related to recommendations of the TCFD related to governance, strategy, risk management, and metrics and targets.
The Valuence Group will continue striving to enhance corporate value by strengthening efforts to address climate change and disclosing information proactively through participation in internationally recognized environmental initiatives.
*1 SBT Initiative (SBTi) (Science Based Targets initiative)
SBTi is an international initiative established in 2015 by CDP (formerly the Carbon Disclosure Project), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC). This entity verifies and grants accreditation to greenhouse gas reduction targets that are consistent with the levels required by the Paris Agreement (which aims to limit global temperature increase to well below 2°C above pre-industrial levels or 1.5°C above pre-industrial levels) based on scientific evidence.
SBTi website: https://sciencebasedtargets.org/
*2 Task Force on Climate-related Financial Disclosures (TCFD)
The TCFD is a task force established in 2015 by the Financial Stability Board (FSB) with the participation of national central banks, financial authorities, and international organizations. The task force recommends that companies and other entities disclose information to stakeholders in four areas related to climate-related risks and opportunities: governance, strategy, risk management, and metrics and targets.
TCFD website: https://www.fsb-tcfd.org/
*3 TCFD Consortium
This consortium was established in 2019 as a forum for discussing effective corporate disclosure and initiatives linking disclosed information to appropriate investment decisions by financial institutions and other investors. Companies, financial institutions, and other entities support the TCFD recommendations and pursue related initiatives.
TCFD Consortium website: https://tcfd-consortium.jp/en
*4 Greenhouse gas emissions throughout will be value chain include emissions from the group (Scope 1 and Scope 2) as well as indirect emissions arising from group business activities (Scope 3).