OKI (TOKYO:6703) today announced its support for recommendations by the
Task Force on Climate-related Financial Disclosures (TCFD*1).
Henceforth, in addition to communicating information in line with the
TCFD’s recommendations, OKI will boost its efforts to help to realize a
sustainable society brought by virtuous cycles of the environment and
Established by the Financial Stability Board (FSB*2), the
TCFD in June 2017 announced its recommendations to disclose information
related to the financial impact of risks and opportunities presented by
“In April 2019 OKI announced the OKI Environmental Challenge 2030/2050,
the OKI Group’s medium- to long-term environmental vision,” said Shinya
Kamagami, OKI’s President. “We are now advancing with activities, both
inside and outside the Group, to mitigate and adapt to climate change.”
accordance with the TCFD’s recommendations,” he added, “while
strengthening governance related to response to climate change, OKI will
continue to formulate strategies based on the appropriate recognition of
related risks and opportunities and expand our disclosure of related
Examples of OKI’s mitigation initiatives include reducing life-cycle CO2
emissions*3 centered on further improving power-saving
features of products themselves and controlling traffic congestion using
ITS systems to help reduce CO2 emissions. Examples of
adaptation initiatives include providing disaster prevention systems.
OKI is a member of the TCFD Consortium established on May 27. Plans call
for discussions of effective information disclosure while advancing
initiatives jointly with other businesses, financial institutions, and
organizations that support the TCFD recommendations.
*1: Task Force on Climate-related Financial Disclosures
The TCFD was established by the Financial Stability Board
(FSB) in response to a call to action from leaders of countries
participating in the 2015 G20 meetings. Published in June 2017, its
final recommendations seek to support corporate efforts to disclose
information on climate-related risks and opportunities and stabilize
financial markets through the smooth migration to a low-carbon society.
*2: Financial Stability Board (FSB)
The FSB is an international
organization engaged in promoting harmonization among regulators
responsible for responding to vulnerabilities in and stabilizing
financial systems. As of the end of 2018, members included
representatives of the central banks of 25 leading countries and
regions, financial regulators, the International Monetary Fund (IMF),
the World Bank, the Bank for International Settlements (BIS), and the
Organisation for Economic Co-operation and Development (OECD).
*3: Life-cycle CO2 emissions
This refers to the total CO2 emissions
for a corporate group for every process from procurement through
business facility operations, logistics, use of products by customers,
and waste disposal of products after use.
About OKI Electric Industry (OKI)
Founded in 1881, OKI
Electric Industry (OKI) is Japan’s leading information and
telecommunication manufacturer. Headquartered in Tokyo, Japan, OKI
provides top-quality products, technologies, and solutions to customers
through its info-telecom systems and printer operations. Its various
business divisions function synergistically to bring to market exciting
new products and technologies that meet a wide range of customer needs
in various sectors. Visit OKI’s global website at https://www.oki.com/.
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