Sumitomo Mitsui Trust Asset Management Co., Ltd. (President: Yoshio Hishida, hereinafter “SuMi TRUST AM”) today endorsed the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)*.

The TCFD, which was established to reduce the risk of instability in the financial market by the Financial Stability Board (FSB) , recommends that to reduce the risk of instability in the financial market companies analyze medium- to long-term business risks and opportunities arising from climate change and reflect them in financial information disclosures.

Financial institutions are expected to play a proactive role in addressing environmental and social challenges related to sustainability. As a group company of SuMi TRUST Holdings, which professes itself as the “No. 1 domestic financial institution for ESG management,” SuMi TRUST AM has adopted a basic policy that it aims to enhance its corporate value while contributing to the sustainable development of society through investment management business. Endorsing the TCFD Recommendations is to openly reaffirm this position. SuMi TRUST AM will conduct engagement activities in a manner which promotes the disclosure of climate change information by companies and encourages the inclusion of ESG information in corporate financial information disclosures, working with companies to enhance the sustainability of their management decisions.

TCFD website: https://www.fsb-tcfd.org/
* The Task Force on Climate-related Financial Disclosures (TCFD) was established under the Financial Stability Board (FSB) in December 2015 in response to the request of G20 finance ministers and central bank governors. In June 2017, the TCFD issued recommendations urging private-sector business companies and others to disclose the financial impact of “risks” and “opportunities” arising from climate change.

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Hirofumi Hayashi
Head of Investment Management Department
Sumitomo Mitsui Trust International Limited
155 Bishopsgate, London EC2M 3XU, United Kingdom
Direct: +44 20 7562 8405
Email: imd@smtil.com
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