We strongly believe that, for customers and investors to be able to make informed decisions, companies must report comprehensively on how they tackle dominant global long-term trends, such as climate change.

We’ve advocated for greater transparency and reporting on climate change risks by companies for a number of years. As such, we strongly support the 2017 recommendations of the TCFD, which aim to provide guidelines for companies to consistently disclose on climate-related risks and opportunities; resulting in meaningful information to their stakeholders.

In June 2017, Oliver Bäte, along with other CEOs of leading companies, signed the Statement of Support for the TCFD Recommendations and called for improved disclosure across sectors and regions.

We also called upon the German Chancellor and Finance Minister during Germany’s G20 presidency to support the TCFD recommendations.

Furthermore, we signed a statement by global business leaders initiated by the World Economic Forum, calling on G20 governments to formally accept and act on the recommendations of the TCFD.

We are encouraging other companies – within our sector and beyond – to step up and improve their disclosure on climate-related issues. We do this, for example, through our active memberships in The B Team, the World Economic Forum Alliance of CEO Climate Leaders, the UNEP FI, and the Portfolio Decarbonization Coalition.  Our other efforts include working with the European Bank for Reconstruction and Development to promote the strategic assessment and management of climate risks and opportunities.