TOKYO, April 15, 2020 — Ube Industries, Ltd. today announced its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)* established by the Financial Stability Board (FSB). In accordance with the TCFD recommendations, the UBE Group will analyze the business risks and opportunities presented by climate change, and actively disclose information to contribute to a sustainable society.
Under the Vision UBE 2025—Prime Phase management plan that was launched in fiscal 2019, the UBE Group has been implementing initiatives to “Address and be part of the solution to resource, energy, and global environmental issues” as one of its Basic Strategies. The UBE Group is working toward achieving a 15% reduction in greenhouse gas (GHG) emissions by fiscal 2021 compared with fiscal 2005 levels, through process improvements and energy-efficiency initiatives.
The UBE Group will continue working to reduce its GHG emissions while fostering and expanding environmentally-friendly products and technologies. These efforts will enable the Group to reduce GHG emissions throughout the life cycle of its products, and help realize a low-carbon society. With the announcement of its support for the TCFD recommendations, the UBE Group will further enhance its initiatives to address climate change and other environmental issues, and actively disclose information in accordance with the TCFD recommendations.
* Task force established in 2016 by the Financial Stability Board (FSB), an international organization dedicated to the stability of the global financial system. TCFD issued its Final Report (Recommendations of the Task Force on Climate-related Financial Disclosures) in June 2017.