Tokyo, Japan - March 12, 2019
In keeping with its strong commitment to addressing the issue of climate change and preparing for a low-carbon economy, Yokogawa Electric Corporation hereby announces that it supports the recommendations of the Task Force on Climate-related Financial Disclosures*. Henceforth, it will assess the potential financial impact of climate-related risks and opportunities on its business, incorporate the results of this assessment in its business strategy, and publicly disclose this information.
Yokogawa has established sustainability goals ("Three goals") that are to be achieved by 2050 to make the world a better place for future generations and has designated these goals as the basis for its long-term business framework and mid-term business plan. One of these goals has to do with climate change, and calls for the achievement of net-zero emissions by focusing on the renewable and low-carbon energy business areas. With the aim of achieving a 1 billion ton avoidance in CO2 emissions by 2030, Yokogawa has been working with its customers to improve the efficiency and stability of operations throughout their energy supply chains.
Through co-innovation with its stakeholders, Yokogawa will continue working to achieve a sustainable society by addressing issues such as climate change.
* With the aim of promoting the disclosure of climate-related financial information, this organization was set up in 2015 by the Financial Stability Board, an international organization that is working to stabilize the global financial system.