June 29, 2017
In signing this statement, we affirm our commitment to support the voluntary
recommendations of the industry-led Financial Stability Board (FSB) Task Force on
Climate-related Financial Disclosures (TCFD). We believe that climate change will havesignificant impacts across many sectors and that we, as business leaders, have an
important role to play in ensuring transparency around climate-related risks andopportunities.
We encourage other business leaders to join us in this united effort to improvedisclosure across sectors and regions. The Task Force’s recommendations will catalyze
more consistent, comparable, and reliable disclosure of climate-related informationthat will facilitate more informed business and investment decision-making.
These disclosures are an important step forward in enabling market forces to drive
efficient allocation of capital and support a smooth transition to a low-carbon economy.
In signing this letter, we are proud to express our support for better disclosures ofclimate-related risks and opportunities and we urge other business leaders to do thesame.
ABP, Corien Wortmann-Kool, ChairmanAccenture, Pierre Nanterme, Chairman and Chief Executive OfficerAcciona, José Manuel Entrecanales Domecq, Chairman and Chief Executive Officer
Aegon N.V., Alexander Wynaendts, Chief Executive Officer
AIMCo, Kevin Uebelein, Chief Executive Officer
Akzo Nobel N.V., A.C.M.A. Büchner, Chief Executive Officer and Chairman of the Boardof Management
1Allianz SE, Oliver Bäte, Chairman of the Board of Management (Chief Executive Officer)
APG Groep N.V., Gerard van Olphen, Chief Executive Officer
Arup, Gregory Hodkinson, Chairman
Australia and New Zealand Banking Group Limited (ANZ), Shayne Elliott, Chief
Executive OfficerAviva Investors, Euan Munro, Chief Executive Officer
Aviva plc, Mark Wilson, Chief Executive Officer
AXA Group, Thomas Buberl, Chief Executive Officer
B3, Gilson Finkelsztain, Chief Executive Officer
Bank of America, Brian Moynihan, Chief Executive Officer
Barclays, Jes Staley, Group Chief Executive Officer
Barrick Gold Corporation, Kelvin Dushnisky, President, and John L. Thornton,
Executive Chairman
BHP Billiton, Andrew Mackenzie, Chief Executive Officer
BNP Paribas, M. Jean-Laurent Bonnafé, Chief Executive Officer
Borsa Italiana, Raffaele Jerusalmi, Chief Executive OfficerBRAM – Bradesco Asset Management S.A. DTVM, Alexandre da Silva Glüher, GeneralOfficer
British Columbia Investment Management Corporation (bcIMC), Gordon J. Fyfe,Chief Executive Officer and Chief Investment Officer
Caisse de dépôt et placement du Québec (CDPQ), Michael Sabia, President and Chief
Executive Officer2California Public Employees' Retirement System (CalPERS), Marcie Frost, Chief
Executive Officer
California State Teachers' Retirement System (CalSTRS), Jack Ehnes, Chief Executive
Officer
Canada Pension Plan Investment Board (CPPIB), Mark Machin, President and Chief
Executive Officer
Capricorn Investment Group, Ion Yadigaroglu, Managing Partner
Cbus Super, David Atkin, Chief Executive Officer
Citigroup Inc., Michael L. Corbat, Chief Executive Officer
City Developments Limited, Grant Kelley, Chief Executive Officer
Deloitte Global, Punit Renjen, Chief Executive Officer
DNB ASA, Rune Bjerke, Chief Executive Officer
Dow Chemical Company, Andrew N. Liveris, Chairman and Chief Executive Officer
DuPont, Edward D. Breen, Chair of the Board and Chief Executive Officer
Duratex S.A., Antonio Joaquim de Oliveira, Chief Executive Officer
EDF Group, Jean-Bernard Lévy, Chief Executive Officer
EnBW Energie Baden-Württemberg, Dr. Frank Mastiaux, Chairman and Chief
Executive Officer
Enel SpA, Francesco Starace, Chief Executive Officer and General Manager
ENGIE Group, Isabelle Kocher, Chief Executive Officer
Eni SpA, Claudio Descalzi, Chief Executive Officer
EY Global Limited, Mark Weinberger, Global Chairman and Chief Executive Officer
Fibria Celulose S.A., Marcelo Castelli, Chief Executive Officer
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FTSE Russell, Mark Makepeace, Chief Executive Officer
Generation Investment Management, David Blood, Senior Partner
Glencore, Tony Hayward, Chairman
GranBio Investimentos, Bernardo Gradin, Chief Executive Officer
HSBC Holdings plc, Stuart Gulliver, Group Chief Executive
HSBC Bank Pension Trust (UK) Ltd., Elizabeth Renshaw-Ames, Trustee Chief Executive
Officer
Iberdrola, Ignacio S. Galán, Chairman and Chief Executive Officer
Impax Asset Management Group plc, Ian Simm, Chief Executive
Industrial and Commercial Bank of China (ICBC), Shu Gu, President
ING Group, Ralph Hamers, Chief Executive Officer
JetBlue, Robin Hayes, President and Chief Executive Officer
Jinko Solar Co., Ltd, Xiande Li, Chairman
Johnson Controls, Alex Molinaroli, Chairman, President and Chief Executive OfficerJupiter Fund Management plc, Maarten Slendebroek, Chief Executive Officer
Kering, François-Henri Pinault, Chief Executive Officer and Chairman of the Board
Kokusai Kogyo Co., Ltd, Sandra Wu Wen-Hsiu, Chairperson and Chief Executive Officer
KPMG International, John B. Veihmeyer, Chairman
Legal & General Investment Management, Mark Zinkula, Chief Executive Officer
Leonardo SpA, Alessandro Profumo, Chief Executive Officer
London Stock Exchange Group, Xavier Rolet, Chief Executive Officer
London Stock Exchange plc, Nikhil Rathi, Chief Executive Officer
MN, René van de Kieft, Chief Executive Officer and Chairman of the Managing Board
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Moody’s Corporation, Raymond W. McDaniel Jr., President and Chief Executive Officer
Morgan Stanley, James Gorman, Chairman and Chief Executive Officer
Natura Cosméticos S.A., João Paulo Ferreira, Co-Founder and Co-Chairman of theBoard
NN Group, Lard Friese, Chief Executive Officer
Norsk Hydro ASA, Dr. Svein Richard Brandtzæg, President and Chief Executive Officer
Olam International Limited, Sunny Verghese, Co-Founder and Group Chief Executive
Officer
Ontario Teachers' Pension Plan, Ron Mock, President and Chief Executive Officer
OPTrust, Hugh O'Reilly, President and Chief Executive Officer
Pensioenfonds Metaal en Techniek (PMT), Benne van Popta, Chairman of the Board
Pensioenfonds van de Metalektro (PME), E.A.W.M. Uijen, Chairman of the Executive
Board
Pensioenfonds Zorg en Welzijn, C.P.M. Moonen, Independent Chair of the Board ofTrustees
PepsiCo Inc., Indra K. Nooyi, Chairman and Chief Executive Officer
PGGM N.V., Else Bos, Chief Executive Officer
Philips Lighting, Eric Rondolat, Chief Executive Officer
PSP Investments, André Bourbonnais, President and Chief Executive Officer
PwC, Bob Moritz, Global Chairman
Royal DSM, Feike Sijbesma, Chief Executive Officer and Chairman of the Managing
Board
Royal Dutch Shell plc, Ben Van Beurden, Chief Executive Officer
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S&P Global, Douglas L. Peterson, President and Chief Executive Officer
Safaricom Ltd., Bob Collymore, Chief Executive Officer
Salesforce, Marc Benioff, Chairman and Chief Executive Officer
Schneider Electric, Jean-Pascal Tricoire, Chairman and Chief Executive Officer
Schroders, Peter Harrison, Chief Executive Officer
Singapore Exchange Limited, Loh Boon Chye, Chief Executive Officer
Singapore Telecommunications Ltd. (Singtel), Chua Sock Koong, Group Chief
Executive OfficerSolvay, Jean-Pierre Clamadieu, Chief Executive Officer
Standard Chartered, Bill Winters, Group Chief Executive
Storebrand ASA, Odd Arild Grefstad, Chief Executive Officer and Managing Director
Suez, Jean-Louis Chaussade, Chief Executive Officer
Sumitomo Chemical Company, Limited, Masakazu Tokura, President
Swiss Re Ltd., Christian Mumenthaler, Group Chief Executive Officer
Tata Steel (India & South East Asia), T. V. Narendran, Managing Director
The Virgin Group, Sir Richard Branson, Founder
Türkiye Garanti Bankası A.Ş., Ali Fuat Erbil, President and Chief Executive OfficerUBS Group, Sergio P. Ermotti, Chief Executive Officer
Unilever, Paul Polman, Chief Executive Officer
Vale S.A., Fabio Schvartsman, Chief Executive Officer
Veolia, Antoine Frérot, Chairman and Chief Executive Officer
Willis Towers Watson, John J. Haley, Chief Executive Officer

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