TCFD Summit

To realize "a virtuous cycle of environment and growth", a concept shared by G20 leaders in the G20 Osaka summit in June 2019, it is important to promote green finance for disruptive innovation in order to tackle climate change. Now that the number of TCFD (Task Force on Climate-related Financial Disclosures) supporters is increasing around the world, Japan should take leadership in the international discussion for helping the TCFD recommendations become business as usual for accelerating the virtuous cycle of environment and growth.

Based on this idea, in October, 2019, the Ministry of Economy, Trade and Industry (METI) held the inaugural TCFD Summit in Tokyo, bringing together leaders of leading worldwide companies, financial institutions and other organizations having made efforts in this area, with the aim of discussing the challenges and future direction of the TCFD.

At the first TCFD summit, we heard about various initiatives such as "Green Investment Guidance" publicized by the TCFD Consortium as a guideline for investors to assess corporate disclosures. Moreover, we also shared the recognition that the TCFD is playing a critical role with regard to guiding our transition to a low carbon economy and clear calls for continued efforts to bring together a wide range of stakeholders, including global industry, the financial community, the public sector, regulators and international institutions to focus on the work towards the implementation of its recommendations.

This summit is an opportunity where broad stakeholders share best practices, discuss and make a commitment to further efforts so that the TCFD community supporting this idea and taking action toward the further progress will spread all over the world and the TCFD will be able to continue to go on providing a platform and an impetus for these vital discussions.


Abe Shinzo (Prime Minister of Japan)

The flow of environment-related investments by the private sector has been changing significantly during the past six years, as seen through a global increase in ESG investments of about 2,000 trillion yen. For companies, measures against global warming are no longer a cost: they are a source of competitiveness.

For companies that are positive about implementing measures to address environmental challenges, funds are available from around the world to enable further growth. As chair of the G20 Summit held in Japan in June of this year, I proposed to further promote "the virtuous cycle of environment and growth," which was largely supported by Leaders of the G20. In order to provide further momentum to this virtuous cycle, the TCFD Summit will be held in Tokyo in October 2019, where businesses and financial institutions from across the globe at the forefront of advancing such efforts will gather.

I sincerely hope that the upcoming Summit will serve as a catalyst for more enhanced disclosure of information on corporate environmental activities and further acceleration of the virtuous cycle of environment and growth, promoting measures to address global climate change.

Abe Shinzo
ABE Shinzo - Prime Minister of Japan

Peter Bakker

“I congratulate the Japanese Government for its leadership in hosting the world’s first TCFD Summit. WBCSD is delighted to work with METI and the TCFD Consortium to convene the event.

The TCFD Summit is a crucial moment for consolidating climate disclosure activity to date and increasing wider uptake of the TCFD’s recommendations. The TCFD’s work is a vital contribution to mobilizing finance towards products, services and solutions designed by business to support the transition to a low-carbon economy, therefore rewarding the most sustainable companies.

The TCFD Summit is one of the main levers to create real, impactful change for the sake of the climate, our people and planet. Working together at the TCFD summit, leaders have a significant opportunity to advance the TCFD recommendations and accelerate the virtuous cycle between business solutions, policy, climate stability and economic growth. WBCSD is looking forward to working with METI and the TCFD Consortium to advance this agenda.”

Peter Bakker
Peter Bakker - President CEO, WBCSD