Mytilineos is the first Greek company to join the official list of supporters of the initiative “Task Force on Climate-related Financial Disclosures” (TCFD), a fact which, as the company emphasizes in its announcement, proves once again in practice the commitments ESG has undertaken to protect against climate change and to create a more resilient financial system.
The TCFD International Initiative, chaired by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, provides participating organizations with the necessary support material and recommendations to address the economic impact of climate change.
The main aim of the TCFD initiative is to help the investment community to identify the information needed to assess and cost risk, as well as the opportunities associated with climate change, in the context of investment decisions.
At the same time, at the business level, adapting to these recommendations is not only a matter of Sustainable Development, but also a matter of funding, strategy and better risk management. Increased disclosures in line with the TCFD recommendations in various areas will help global markets make more efficient capital allocation decisions and adapt appropriately to the effects of global climate change.
Implementing the TCFD recommendations will provide MYTILINEOS with:
- easier and better access to finance, increasing investor and lender confidence, and ensuring that climate-related risks are properly assessed and managed,
- the possibility of disclosing important information related to climate change in financial statements,
- increased awareness and understanding of climate-related risks and opportunities, aiming at better management as well as more up-to-date strategic planning,
- the ability to preemptively address investors’ demands for climate-related information, given the growing interest of the investment community in the above-mentioned issues.
The companies supporting the TCFD initiative come from the public and private sectors, and even include national governments, central banks, stock exchanges, credit rating agencies and financial institutions.