HTC is proud to announce the successful completion of its first stand-alone Task Force on Climate-Related Financial Disclosures (TCFD) report. This milestone reflects the company’s dedication to transparency and accountability in addressing climate-related risks and opportunities in business.
In May 2023, HTC finalized its inaugural TCFD report, which provides valuable insights into the risks and opportunities brought on by climate-related issues, including financial impact, coping strategies, and short-, mid-, and long-term carbon reduction strategies, metrics, and targets. Additionally, the TCFD report has passed independent verification by third-party verification group SGS , being granted the "TCFD Management Level Practitioner" credential.
To demonstrate its commitment to climate-related financial disclosures transparency, HTC chose to proactively issue a stand-alone TCFD report instead of it being integrated into the ESG annual report as is industry convention. In taking this approach, HTC has exceeded regulatory requirements, outputting the report a full year ahead of the time required by regulations.
HTC's stand-alone TCFD report has been published on HTC's ESG website, in both Chinese and English . The report empowers both internal and external stakeholders to gain a comprehensive understanding of the company's climate-related risks, opportunities, and strategies.
The Task Force on Climate-Related Financial Disclosures (TCFD) was established by the Financial Stability Board (FSB) in 2015 to enhance transparency surrounding climate-related risks and opportunities. In 2017, the TCFD issued disclosure recommendations, outlining four core elements: Governance, Strategy, Risk Management, and Metrics and Targets. By thoroughly examining climate-related physical risks and transition risks (such as extreme weather events), and new opportunities arising from climate change (such as market preferences for low-carbon products), HTC's stand-alone TCFD report provides a comprehensive evaluation of climate impact on financial performance.
As a member of these sustainability programs, HTC is committed to implementing a sustainable value chain and reducing its carbon emissions to achieve its net-zero goal. By actively participating in these initiatives and practicing sustainable actions in daily life, HTC aims to contribute to a better future for all. For more information on HTC's sustainability initiatives, please visit our website: https://www.htc.com/us/esg/
