share recognition: How do we encourage investments into innovation that will be necessary to realize a sustainable society in the future That is the aim of launching this summit, he said, according to The Japan Times. We would like to share the recognition among the top management of industries and financial institutions that dealing with climate change is not a cost but a fountain for competitiveness. The 2015 Paris agreement, a global pact agreed on by nearly 200 countries to fight potentially devastating climate change, has spawned a boom in responsible investments to realize a sustainable society, trade minister Isshu Sugawara said in a keynote speech at the Tokyo summit convened by the Task Force on Climate-related Financial Disclosures, or TCFD. ; In particular, environmental, social and governance investing, known as ESG, has been boosted by about 2 quadrillion over the past six years, Sugawara added. Tasked with probing climate risks, the TCFD was established in 2015 by the Financial Stability Board, an international organization that monitors global financial systems, after a request from financial leaders within the Group of 20 industrial and emerging-market nations. As of the start of this month, the number of organizations supporting the TCFD recommendations stood at 855 worldwide including 194 from Japan making it the world's biggest TCFD-supporting consortium. Recommendations compiled by the TCFD in 2017 were mainly focused around four themes governance, strategy, risk management, and metrics and targets.
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