The chemical company Indorama Ventures Public Co. Ltd. (IVL), Bangkok/Thailand, has become a task force on climate-related financial disclosures (TCFD) supporter.
It is the first chemical company in Thailand and the second chemical company in Southeast Asia to become a TCFD supporter by volunteering to comply with TCFD recommendations and supporting their climate change agenda. Becoming an official supporter cements the company’s commitment towards and leadership in sustainability, embedding environmental, social and governance (ESG) factors in IVL’s business operations.
The TCFD was created in 2015 by the Financial Stability Board (FSB) to develop consistent climate-related financial risk disclosures for companies, banks and investors when providing information to stakeholders.
Following the TCFD recommendations, IVL has applied the aqueduct water risk atlas to forecast changes in future water stress and to identify sites that face the most significant risk of water demand and supply in future. The results of these studies have been incorporated into the company’s long-term adoption measures, which allow the management to make informed and lasting decisions for IVL’s sustainability.