Strategy & Practice Management

Mirae Asset Pledges Support Towards Global Task Force on Climate-Related Financial Disclosures

Mirae Asset Global Investments (Hong Kong) has announced that it has joined the Task Force on Climate-related Financial Disclosures (TCFD), as part of the firm's longstanding commitment to improve environmental and social footprints, and address governance issues.

The firm joins over 1,800 organisations to build a more resilient financial system and safeguard against climate risk, the firm said in a press release.

The move shines a light on Mirae Asset's dedication towards integrating environmental, social and governance (ESG) considerations into the investment process, reinforced by the firm's development of a proprietary ESG scorecard, negative screening provisions, as well as proxy voting policies to support ESG investing.

Rahul Chadha, Chief Investment Officer of Mirae Asset (Hong Kong), said: “As responsible investors and corporate citizens, we understand the importance of consistent and transparent climate disclosures, and strive to work with our investee companies to achieve this common goal. Being a TCFD Supporter is a natural step for the firm, and reinforces our commitment to tackling ESG issues.''

He added: “Climate change has, and will bring about significant risks as well as opportunities to global society. As stewards of capital, we play an active role in encouraging greater ESG commitments among companies that we invest in. Our proprietary scoring tools allow us to identify industry and company specific issues, and enable us to work with our investee companies to adopt industry leading standards.”

Widespread implementation of TCFD recommendations will provide investors, lenders and insurance underwriters with consistent and relevant information to understand the economic risks and opportunities resulting from climate change. Increased disclosures in line with the recommendations across sectors and geographies will help global markets make more efficient capital allocation decisions and adjust appropriately to the disruptive effects of global climate change.