The Aboitiz Group, through its holding company Aboitiz Equity Ventures Inc. (AEV), is the first local supporter of the International Task Force on Climate-Related Financial Disclosures (TCFD), in line with its commitment to good corporate governance and sustainability practices. TCFD develops voluntary and consistent climate-related financial risk disclosures for use by companies in providing information to investors, lenders, insurers and other stakeholders. It considers the physical, liability and transition risks associated with climate change and what constitutes effective financial disclosures across industries. Companies that express support for TCFD recommendations “join a cohort of leading companies that take action against climate change and are thoughtful to consider how climate change will impact their businesses,” according to TCFD. “Increasing transparency makes markets more efficient, and economies more stable and resilient,” Michael Bloomberg, TCFD chairman, said on the task force’s website.

Source: Manila Times February 21, 2020 17:20 UTC