Swedish materials company Elkem has released their first TCFD report, part of an ongoing initiative to address the potential financial impacts of climate change.
The Task Force on Climate-related Financial Disclosures was established in 2015 to report on climate-related risks and opportunities for businesses.
In 2017, they released a set of recommendations to help support organisations in their transition to greener practices and promote transparency in their operations.
The guidelines are structured around four core areas: Governance, Strategy, Risk Management, and Metrics and Targets. These core areas are designed to cover the basic elements of running any organisation covered by the TCFD.
“Elkem aims to be part of the solution to combat climate change – and to be one of the winners in the green transition. Our mission is to provide advanced material solutions shaping a better and more sustainable future,” said Helge Aasen, Chief Executive Officer for Elkem.
“Reporting according to the TCFD recommendations builds internal and external understanding and capabilities to support the green transition, promote transparency, and contribute to climate action.
“The implementation of the TCFD framework is part of Elkem’s process to continuously improve our sustainability activities and ESG KPIs”.
Elkem has also received an A- score on climate change from climate research non-profit the Carbon Disclosure Project (CDP), a UK-based international organization which aims to improve climate change outcomes through transparency and management.
“The A- rating from CDP on climate is another strong confirmation of Elkem’s position as one of the world’s leading companies in the environmentally responsible manufacture of metals and materials,” Aasen commented.
“It also serves as an inspiration to continue improving further. We continue to step up our efforts as we position for the future.”
In October 2021, Elkem launched their climate change roadmap including a 28% reduction in operational CO2 emissions over the next decade, combined with a shift to a greener supply chain across the same period.
