Climate-related

financial disclosures

Climate-related financial disclosures

Promotion of the plan

In 2015, the United Nations adopted the "Paris Agreement" to set 17 Sustainable Development Goals (SDGs) to maintain global warming to within 2 degrees Celsius and help stakeholders identify and obtain corporate climate change related risks and opportunities, along with its impact and response information. The Financial Stability Board (FSB) of the international organization established the Task Force on Climate-related Financial Disclosures (TCFD) in 2016 and issued “Climate-Related Financial Disclosure Recommendations” in June 2017, which provides clearer disclosure guidelines for financial exposures related to climate change of global companies.

We have been paying close attention to global climate change trends. According to the TCFD disclosure proposal structure, from the four core elements of governance, strategy, risk management, indicators and targets, the company's sustainable development committee functions as the internal functional organization to manage climate risks and opportunities. Each year, through the collection and analysis of climate-related international trends,
industry-focused issues and other information, we create an internal assessment questionnaire for climate-related risks and opportunities. Various department executives convene to help identify climate-related risks and opportunities that may cause a major impact on YOKE’s financial standing.

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set 17 Sustainable Development Goals (SDGs)

2019

・Establishment of our Sustainable Development Committee
・Formulated TCFD promotional plan
・Assess climate related risks
・Introduce ISO 14064-1 inventory

2020

・Promoted aspects of governance and strategy
・Established GHG emission indicators

2021~

・Promote various climate adjustment projects
・Establish specific management indicators for different targets




TCFD promotional structure 2020 action target Items of promotion for 2020
Governance Raise the management’s awareness for climate change response The Chairman functions as the chairman of YOKE’s Sustainable Development Committee, which meets quarterly to plan, execute, and review our sustainable development performance. In 2020, we emphasized fortifying the management’s understanding and appreciation for climate change risk factors and boosted our executives’ awareness for climate change response through training and education.
Strategies Introduction of TCFD structure YOKE works with raw materials and processes that generate relatively higher volumes of GHG and in light of this fact, we had performed risk assessment in accordance with the risk items recommended by TCFD in order to determine the relevant distribution of climate related risks In 2020, our focus of promotion had been on the engagement of in-depth internal discussion and communication on climate related risks and opportunities in order to formulate short, medium and long-term strategies to address the potential impacts we could face in the aspects of organizational operation, strategies and financial planning so as to boost YOKE’s adaptability to climate changes.
Risk Management Identify risks and opportunities Based on the climate-related risk types as recommended by TCFD, we examined the probability of occurrence for risks and opportunities along with their degree of impact as the strategic basis for our operational planning. We will continue to implement risk assessment on a yearly basis.
Goal and target Greenhouse gas emissions disclosure Referring to the ISO 14064-1:2018 greenhouse gas emission verification standards, we performed our first GHG emission inventory in 2019. We continued to perform our voluntary inventory of GHG emissions in 2020 and used the outcomes as our continuous management and reduction of GHG emissions.
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