NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President & CEO: Toshihiro Uchiyama) today announced its endorsement of the recommendations in the final report of the Task Force on Climate-related Financial Disclosures*1 (TCFD).
NSK includes global environmental protection as part of its mission statement, has established environmental targets in its Mid-Term Management Plan, and is actively engaged in initiatives to prevent global warming that include reducing CO2 emissions generated by its business activities and creating environmentally friendly products.
In accordance with the recommendations of the TCFD, NSK will identify business risks and opportunities brought on by climate change, adapt management plans, and enhance information disclosure with the aim of contributing to both the sustainable development of society and the sustainable growth of NSK. NSK aims to use this declaration of support as an opportunity to take its environmental activities to the next level.
NSK Environmental Protection Activities
NSK has been bolstering its ESG*2 activities, aiming to contribute to the realization of a sustainable society and the sustainable growth of its business activities. For more details on NSK's environmental efforts, check out the NSK Integrated Report (
here
) and the NSK Sustainability Report (
here
).
- *1 TCFD:
- TCFD is the acronym for the Task Force on Climate-related Financial Disclosures established by the FSB*3 (Financial Stability Board). In June 2017, the TCFD published its latest report recommending that corporations disclose information on climate change-related risks and opportunities which impact finance.
- *2 ESG
- ESG stands for Environment, Social, and Governance: the three central criteria for measuring sustainability and societal impact.
- *3 FSB:
- FSB is the acronym for the Financial Stability Board, which engages in activities to encourage cooperation among financial authorities to stabilize and respond to vulnerabilities in the global financial system. As of the end of 2019, representatives from the central banks, financial supervisory authorities, and finance ministries of 25 key countries and regions participate in the FSB.
About NSK
NSK began its journey manufacturing the first bearings in Japan in 1916, and has since developed into a global organization researching, designing, and manufacturing Motion & Control™ solutions essential for mobility and industrial applications. NSK is the top supplier of bearings in Japan, and is the third largest supplier in the world by market share.
Our responsive products and technologies enhance automotive performance and industrial productivity while reducing energy consumption to unprecedented low levels. In the early 1960s we set our sights outside Japan, and have established over 200 business locations in 30 countries alongside a vast network of joint ventures and partnerships in all corners of the world.
NSK Corporate Philosophy
NSK contributes to a safer, smoother society and helps protect the global environment through its innovative technology integrating Motion & Control. As a truly international enterprise, we are working across national boundaries to improve relationships between people throughout the world.
