Lymon Announces Support for the Task Force on Climate-Related Financial Disclosures




Lymon Pte. Ltd. ("Lymon") joins more than 2,500 organizations around the world in publicly supporting the Task Force on Climate-Related Financial Disclosures recommendations.


Lymon, a complete regulatory compliance and business services solution provider, has declared its support for the Task Force on Climate-Related Financial Disclosures (TCFD), joining more than 2,500 organizations in demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures.


With a commitment to market transparency and stability, the TCFD is established to develop recommendations for more effective climate-related disclosures that could promote more informed investment, credit, and insurance underwriting decisions. This will enable stakeholders to better understand the concentrations of carbon-related assets in the financial sector and the financial system’s exposures to climate-related risks. Companies will then be able to incorporate climate-related risks and opportunities into their risk management and strategic planning processes, which in turn increases companies’ and investors’ understanding of the financial implications associated with climate change.


The TCFD, chaired by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, provides market participants with recommendations to address the financial impact of climate change on their business. By increasing transparency on financially material climate-related risks and opportunities the recommendations promote more informed financial decision-making by investors, lenders and others.

Supporters of the TCFD span the public and private sectors and include national governments, central banks, stock exchanges, credit rating agencies, financial organizations and private sector businesses from a variety of industries.


Widespread implementation of the 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. With increased understanding of the financial implications associated with climate change across all stakeholders, markets will be empowered to channel investment to sustainable and resilient solutions, opportunities, and business models.


Implementing the TCFD recommendations provides companies with:

  • Easier or better access to capital by increasing investors’ and lenders’ confidence that climate-related risks are appropriately assessed and managed,

  • Better ability to meet existing disclosure requirements by reporting material information in financial filings,

  • Increased awareness and understanding of climate-related risks and opportunities, resulting in better risk management and more informed strategic planning, and

  • The ability to proactively address investors’ demand for climate-related information in a framework that investors are increasingly asking for.


At Lymon, we strongly believe that all companies and individuals have a meaningful role to play in ensuring the sustainability of the ecosystem. Across the public and private sector, we recognize the importance of increasing transparency of climate-related risks and opportunities, promoting more informed financial decision-making, and building a more resilient financial system. On our part, we hope to influence and assist our clients in operating and investing in a sustainable manner.


For more information about the Task Force on Climate-related Financial Disclosures, please visit www.fsb-tcfd.org.



Media Contacts

Lymon Pte. Ltd.

contact@lymon.com.sg


Bloomberg LP

Liidia Liuksila

lliuksila@bloomberg.net


Brunswick Group

Catherine Hicks

cahicks@brunswickgroup.com



About the Task Force on Climate-Related Financial Disclosures

On December 4, 2015, the Financial Stability Board (FSB) established the industry-led Task Force on Climate-Related Financial Disclosures (TCFD) with Michael R. Bloomberg as Chair. The Task Force currently has four Vice Chairs and 32 members in total. The TCFD was asked to develop voluntary, consistent climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders, which were published in the TCFD Recommendations Report on June 29, 2017. More information about the TCFD can be found at www.fsb-tcfd.org.