SGS has become a supporter of the Task Force on Climate-related Financial Disclosures (TCFD). This official declaration represents another step in SGS’s longstanding commitment to transparency and the integration of climate-related risks and opportunities into its business model.
As tangible proof of this commitment, SGS has included the full adoption of the TCFD recommendations as one of its sustainability goals in the recently launched corporate sustainability strategy, the SGS Sustainability Ambitions 2030. This target complements the company’s commitment to meet its Science-based target of reducing CO2 emissions per revenue by 55%1 by 2030.
Paula Ordoñez, SGS Global Head of Corporate Sustainability, said: “We are committed to providing transparent, accurate and accessible information to all stakeholders and to the financial community in particular. We welcome international initiatives like the recent G7 agreement regarding mandatory climate reporting and they reinforce our belief that our efforts are aligned with the transition to a low carbon economy”.
About the TCFD
On December 4, 2015, the Financial Stability Board (FSB) established the industry-led TCFD with Michael R. Bloomberg as Chair. The Task Force currently has 4 vice chairs and 31 members in total. The TCFD was asked to develop voluntary, consistent climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders. These were published in the TCFD Recommendations Report on June 29, 2017.
More information about the TCFD can be found at www.fsb-tcfd.org.
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1 2014 baseline