Keysight Technologies last Friday released the company's first standalone Taskforce on Climate-related Financial Disclosures (TCFD) Report. The report recognizes the impacts of climate change and highlights the company's commitment to mitigate and adapt to the identified risks and opportunities by ensuring they are addressed within its business strategy.
Keysight's 2023 TCFD Report follows the recommended TCFD framework, including governance, strategy, risk management, and metrics and targets. In 2023, the company completed its first quantitative climate-scenario analysis, covering a range of warming trajectories from 1.5°C to 3.3°C. The analysis helped the company identify potential physical risks, transition risks, and opportunities related to climate change. Keysight's TCFD Report provides a response to the identified risks and opportunities and outlines the company's climate-related targets, including net zero emissions in company operations by the end of fiscal year 2040 and near-term science-based targets.
Utilizing the framework of the TCFD, Keysight can communicate the impacts associated with climate-related risks and opportunities to our stakeholders including investors, customers, employees, and others who value company assets. The TCFD was created by the Financial Stability Board (FSB) to develop recommendations and a disclosure framework to increase market transparency for investors, lenders, and insurance underwriters.
Jason Kary, Vice President, Treasurer and Investor Relations, Keysight
It is important for companies to understand and disclose the potential risks and opportunities associated with climate change. We aligned with the TCFD recommendations and framework to transparently report on potential climate-related impacts and our risk management strategies.
