ME declared support for TCFD

The Ministry of Environment (ME) declared its support for the Task Force on Climate-Related Financial Disclosures (TCFD), an temporary organization established in December 2015 by G20 Financial Stability Board to develop voluntary, consistent climate-related financial risk disclosures for use by companies, banks, and investors in providing information to stakeholders.

TCFD published its recommendations in 2017, which classifies climate-related risks into two categories: a risk derive from the transition to low carbon society, and a physical risk due to abnormal climate. The recommendation has secured government bodies of seven countries, and now Korea joined the list.

Source: ME

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