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.
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
2022～
・Introduction of ISO 50001
・Promote Carbon Footprint Inventory
| Promotional structure | 2021 Action Targets | 2021 Promotion Content |
|---|---|---|
| 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 2021, 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 2021, we continued to focus on the promotion of greenhouse gas inventory and review of internal carbon emissions, and are scheduled to further implement the ISO 50001 energy management system in 2022 as an improvement strategy to further respond to the risks of climate change. |
| 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 | In accordance with ISO 14064-1:2018 greenhouse gas verification standard, the first greenhouse gas emissions verification was conducted in 2019, and the self-inventory of greenhouse gas emissions will continue to be conducted as the basis for continuous management of carbon emission reduction. After the introduction of ISO 50001 energy management system in 2022, YOKE will commence the setting of carbon reduction targets and initiate quantitative management measures for carbon reduction at YOKE. |
