Fidelity International has published its first Task Force on Climate-related Financial Disclosures annual report.
In the report, Fidelity has published the relevant climate-related information on alignment with TCFD reporting, both as a corporate and as an investment manager. This follows Fidelity’s commitment earlier this year to reduce its operational carbon emissions to net zero by 2040.
The report is based on the 4 “pillars” of TCFD recommended disclosures, namely: Governance; Strategy; Risk Management and Metrics and Targets. It addresses the TCFD’s 11 core climate-related disclosure recommendations for all companies with respect to Fidelity’s own corporate operations, along with the additional five disclosure recommendations with respect to Fidelity’s investment management process.
Jenn-Hui Tan, Global Head of Stewardship and Sustainable Investing, Fidelity International, added: “We have been a named supporter of the Task Force on Climate-related Financial Disclosures (TCFD) since 2018 and through our active engagement programmes, we have long advocated that our investee companies provide climate disclosure aligned to the TCFD framework. We believe that it is as important for Fidelity International to provide that same transparency and perform as highly against the broad spectrum of Environmental, Social and Governance (ESG) principles as the clients we serve and companies in which we invest.
“We believe that by working within the TCFD framework, Fidelity International and companies around the globe can make a significant contribution to a much more detailed and comprehensive understanding of climate-related financial risks and opportunities. A higher quality of reporting will in turn create an enhanced appreciation of and consideration for the role that climate change may play in companies’ current and, even more crucially, future prospects.”