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May 27, 2019
Tokyo, Japan — Sony Corporation today announced its endorsement of the final report published by the Task Force on Climate-Related Financial Disclosures (TCFD Recommendations), which was established by the Financial Stability Board (FSB).*1 Going forward, Sony will continue to enhance disclosure of climate change-related information in accordance with the TCFD Recommendations.
Sony upholds a policy of disclosing accurate information in a timely, fair and accessible manner while augmenting information available to the public as it strives to build relationships of trust with its shareholders, investors and other stakeholders and maximize Sony’s corporate value. This is why Sony has long been focused on disclosing environmental and other non-financial information, in addition to financial information. Ever since the publication of its Environmental Report in 1994, Sony has continuously published the Sustainability Report (renamed from “CSR Report” in 2018) and has also worked proactively to create opportunities for dialogue with stakeholders, such as holding ESG briefings.
Sony engages in management from a long-term perspective, aiming to continuously generate social value and maintain a high level of profit. With regard to the global environmental issue of climate change, Sony’s goal is to achieve a zero environmental footprint throughout the life cycle of its products and business activities by 2050, as disclosed in its long-term environmental plan, “Road to Zero,” formulated in 2010. Based on this long-term plan, Sony has formulated Green Management 2020, the mid-term environmental targets for the period from fiscal 2016 to fiscal 2020 and is currently working to reduce greenhouse gas emissions in sites and the energy consumption of products.
In recognition of its information disclosure and initiatives to achieve a zero environmental footprint, Sony has been included in the A-List*2 of the highest performing companies in the CDP*3 climate change survey for four consecutive years since fiscal 2015.
Going forward, Sony will continue to enhance climate-related information disclosure and actively work to create opportunities for dialogue with various stakeholders. In addition to these efforts, Sony will continue striving to minimize the environmental footprint of its entire value chain, to deliver environmentally-conscious products and services, and to work to create a better, more sustainable society.
TCFD is a task force established by the FSB in 2015, and the TCFD Recommendations suggest a framework for the voluntary disclosure by companies of information such as climate-related risks and opportunities. 100 organizations in Japan, including Sony, and a total of 680 organizations worldwide, have endorsed the TCFD Recommendations (as of May 22th, 2019).
- *1The Financial Stability Board is an international organization in which the central banks and financial regulatory authorities of major countries participate.
- *2The CDP is a nonprofit organization (NPO) founded in the UK in 2000. It conducts surveys on climate change and water resource management at private companies and releases the findings of these surveys. The fiscal 2018 survey covered more than 3,000 companies worldwide.
- *3The CDP rates each company’s performance in a four-rank scale (A, A-, B, B-, C, C-,D, D-), and companies that score an A, the highest rank, are included on the A List.