News

March 16, 2020

Mitsubishi Materials Corporation

Mitsubishi Materials Supports Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and Decided to Join TCFD Consortium

Mitsubishi Materials Corporation ("MMC") announces that it has decided to support the recommendations of the Task Force on Climate-related Financial Disclosures ("TCFD"*1) which was established by the Financial Stability Board and also decided to participate in the TCFD Consortium*2.

Mitsubishi Materials Group (the "Group") has targeted that reducing climate change is as one of the Group's important management issue to realize a decarbonized society, and the Group has been committing to "building an energy saving manufacturing", "development of materials, products, and technologies that contributes to decarburization", "development and using promotion of renewable energy such as geothermal power generation", "participation in verification projects of Carbon Capture and Storage" and "conservation activities of our forests". Furthermore, In April 2020, MMC will establish the "Sustainable Management Office" to centralize and approach to the Group's sustainability issues. From now on, the Group will not only further put effort into such initiative but also actively promote disclosure of information based on the TCFD recommendations.

MMC stated: Mitsubishi Materials Group has a vision of "we will become the leading business group committed to creating a sustainable world through materials innovation, with use of our unique and distinctive technologies, for People, Society and the Earth". We will contribute to the realization of a decarbonized society through the provision of products, services and technologies that enable us to solve problems caused by climate change. We hereby express our support for the recommendations of TCFD and declare that we actively disclose our actions concerning both business risks and opportunities caused by climate change.

*1.
TCFD is a task force launched 2016 by the Financial Stability Board regarding the disclosures of climate-related financial information, and in June 2017, TCFD released a final report to encourage companies and organizations to actively grasp and disclose information on the financial impact of risks and opportunities caused by climate change.
*2.
TCFD Consortium was established 2019 with the initiative of five leaders of the industry and the academia. Through a series of dialogues between the financial and non-financial sectors, the Consortium aims to further discussion on effective and efficient corporate disclosure of climate-related information and their use by financial institutions.

<Contact details for inquiries>
Mitsubishi Materials Corporation
Corporate Communications Dept. General Affairs Dept.:+81-3-5252-5206

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