Syngenta's Chief Financial Officer Mark Patrick Joins Peers in Leading the Way to Support Adoption of Climate-Related Financi...
December 11 2017 - 3:00AM
Business Wire
Mark Patrick, Syngenta CFO has joined other 36 CFOs across the
globe to signal his support for the recommendations of the
Financial Stability Board (FSB) Task Force on Climate-related
Financial Disclosures (TCFD).
The Statement of Support for the TCFD recommendations, organized
by The Prince's Accounting for Sustainability Project (A4S),
signals practical actions that leading players in the financial
community are willing to take in order to facilitate more informed
business and investment decision making; and Mark Patrick calls for
other CFOs to join them in this united effort.
Support for the TCFD recommendations will be one of the key
areas of focus during the One Planet Summit in Paris on 12th
December, where international leaders of government and business
will put forward tangible actions to address the ecological
emergency facing our planet, our society and our economy. The TCFD
recommendations provide a framework for disclosing climate related
risks and opportunities, going beyond current practices, by
including them in the mainstream financial filings and by using
scenario analysis to inform business strategies.
For the business community to adopt the recommendations
successfully it needs the support of CFOs and their teams who have
primary responsibility for overseeing financial disclosures. It
also needs support from accounting bodies who provide direction to
their members, and from the investment world who require better
disclosures to allocate funds. Both these groups have also signed a
TCFD Statement of Support with A4S.
Said Jessica Fries, Executive Chair A4S, "Action by the finance
community is vital if we are to tackle climate change. We need
visible leadership, and the combined commitment to support adoption
of the TCFD recommendations from CFOs, accounting bodies and
pension funds represents the kind of collective effort required to
accelerate the shift towards a sustainable economy. Providing the
necessary information, in particular in areas such as scenario
analysis, is an important step forward in enabling market forces to
drive efficient allocation of capital and to support a smooth
transition to a low carbon economy. This is just the beginning and
we are calling on other CFOs, accounting bodies and investors to
adopt the recommendations."
The CFO signatories are from organizations representing over
USD1.5 trillion in combined total assets including Dow DuPont,
Coca-Cola HBC, Tesco and Royal DSM among others.
Mark Patrick says: "Syngenta is proud of signing the Statement
of Support for the TCFD recommendations. An improved and more
consistent disclosure of climate-related financial risks will
contribute to a constructive and well-informed dialogue between
investors and companies about the financial risks and opportunities
associated with their activities. We are aware of the need to put
forward tangible actions to drive a fundamental shift towards
resilient business models and a sustainable economy, and the
finance community can play a key role in giving the steer.”
More information about who has signed so far and how you can get
involved can be found at
www.accountingforsustainability.org/tcfd.
About Syngenta
Syngenta is a leading agriculture company helping to improve
global food security by enabling millions of farmers to make better
use of available resources. Through world class science and
innovative crop solutions, our 28,000 people in over 90 countries
are working to transform how crops are grown. We are committed to
rescuing land from degradation, enhancing biodiversity and
revitalizing rural communities. To learn more visit
www.syngenta.com and www.goodgrowthplan.com. Follow us on Twitter®
at www.twitter.com/Syngenta.
Cautionary statement regarding forward-looking
statements
Some of the statements contained in this press release are
forward-looking statements. These statements are based on current
expectations, assumptions, estimates and projections, and involve
known and unknown risks, uncertainties and other factors that may
cause results, levels of activity, performance or achievements to
be materially different from any forward-looking statements. These
statements are generally identified by words or phrases such as
"believe", "anticipate", "expect", "intend", "plan", "will", "may",
"should", "estimate", "predict", "potential", "continue" or the
negative of such terms or other similar expressions. If underlying
assumptions prove inaccurate or unknown risks or uncertainties
materialize, actual results and the timing of events may differ
materially from the results and/or timing discussed in the
forward-looking statements, and you should not place undue reliance
on these statements. Syngenta disclaims any intent or obligation to
update any forward-looking statements as a result of developments
occurring after the period covered by this press release or
otherwise.
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OfficeCH-4002 BaselSwitzerlandTel: +41 61 323 2323Fax: +41 61
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