Datasets:

AlanYky
/

climate-flipped

Dataset card Viewer Files Files and versions Community

Split (1)

train · 800 rows

inputs stringlengths 2.76k 7.58k	target stringclasses 2 values
Input: As a manufacturer, Konica Minolta engages in various operations that impact the environment. For instance, it generates CO2 emissions, which contribute to climate change because of the use of materials derived from petroleum, which is a dwindling natural resource, and this affects ecosystems in various ways. • CSR reports, environmental reports, and websites • Community briefings and explanatory meetings • Collaboration with research institutions Symbol: Not Climate Event Input: Fails to assess a portfolio’s total climate risks, such as the physical risks of extreme weather, flooding and drought or the consequences of more stringent legislation governing energy efficiency. Nor is a carbon footprint a reliable measure of a portfolio’s overall climate potential or how well it is positioned for transition to a carbon-efficient society. Symbol: Not Climate Event Input: In developing our scenario analysis, we used internal data sets and assumptions made in our existing business models. We considered the views of departments across the business to better understand risks and time horizons. We also took the time to consider impacts and dependencies. This helped us to report on the risks and opportunities that are most material to our organization. Symbol: Climate Event Input: If Philips is unable to ensure effective supply chain management, e.g. facing an interruption of its supply chain, including the inability of third parties to deliver parts, components and services on time, and if it is subject to rising raw material prices, it may be unable to sustain its competitiveness in its markets. Symbol: Climate Event Input: Reputation: In managing our reputation we seek to avoid the loss of credibility due to internal or external factors. Many types of risk have the potential to negatively impact our corporate reputation. Internal business practices, or those of our business partners or the companies in which we invest, may generate reputation harm. Consequences include diminished brand efficacy in commercial markets, impeding our ability to execute our strategy and our status as investor, partner and employer of choice. Symbol: Climate Event Input: Over the past several years, changing weather patterns and climatic conditions, including as a result of climate change, have added to the unpredictability of natural disasters and to the frequency and severity thereof and created additional uncertainty as to future trends and exposures. In particular, the consequences of climate change might significantly impact the insurance and reinsurance industry, including with respect to risk perception, pricing and modelling assumptions, and the need for new insurance products, all of which may create unforeseen risks and costs not currently known to us. Symbol: Not Climate Event Input: Given how essential bonds are to the global economy — as a source of risk management and returns for investors, as a source of capital for companies and governments — the lack of structural innovations to the bond market for many years was surprising. For decades, bond markets largely stayed the same. And in fact, investing in bonds became more difficult following the global financial crisis, as greater regulatory oversight and capital restrictions significantly reduced banks’ balance sheets and as a result, bond inventories. Symbol: Climate Event Input: Enhancing our responsible screening criteria Negative screening is used by institutional investors to exclude or to limit certain types of investments usually based on a set of defined industry criteria. Responsible investment screening can also include evaluation and identification of companies which are managing their ESG issues poorly, which in turn may coincide with the loss of shareholder value. Symbol: Not Climate Event Input: These sector-specific policies are usually developed by the AI taking into account relevant industry certification schemes, international practices, its strategy, level of exposure to the particular sector, and even its engagement with customers, industry experts, shareholders and the community. Symbol:	Climate Event
Input: IFC is targeting new growth areas in energy storage, transportation logistics, distributed renewables, off-shore wind, nature-based solutions, and carbon capture and storage. In March 2020, IFC hired an electric vehicle (EV) industry specialist to help build IFC’s business across the EV value chain, including charging infrastructure, manufacturing, batteries, and financing platforms. Symbol: Not Climate Event Input: Sector restrictions For the sector specific restrictions, the following definitions should be applied: i) 'Financing': all lending, underwriting, issuance of debt and equity, trade and working capital finance; ii) 'Directly finance projects' refers to project finance or other lending/ underwriting where the use of proceeds is known to be for a particular project. http://home.barclays/annualreport Symbol: Climate Event Input: In Jordan, we arranged $207.5 million for a solar-power project — the largest private sector–led solar initiative in the Middle East and North Africa. Of that amount, $116 million was mobilized from other lenders. Under the project, seven solar photovoltaic plants will be built, cutting carbon emissions and providing 102 megawatts of power. Symbol: Not Climate Event Input: For our stakeholders: for customers, breaches in security may cause personal loss (both financial and emotional). There may also be consequences for relations with suppliers and intermediaries. For investors, any loss of business or reputation could result in lower returns. PSD2 will increase consumers’ control over financial data, but also their responsibility for this data. Symbol: Climate Event Input: Scope 1 emissions come mostly from refrigerant leaks and to a lesser extent from stationary combustion in furnaces. Our Scope 3 emissions result primarily from the production of goods for sale, transportation of products, and waste generated in our operations. We use the GHG Protocol’s Corporate Value Chain methodology (Scope 3) to determine our reporting category. Symbol: Not Climate Event Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: The EBRD's target to increase green financing to 40 per cent of its total annual financing by 2020, was achieved in 2019, with total GET-eligible finance reaching 46 per cent.7 The Bank is currently in the process of preparing its next green economy targets to cover the period 2021-25. Symbol: Not Climate Event Input: IAG is exposed to multiple risks relating to its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: The Group carried out a variety of initiatives with investment clients throughout 2019: - The Group launched 10 Climate indices which raised over $750 million in 2019, and the green funds managed by BNP Paribas Asset Management (primarily invested in alternative energies and energy efficiency) totalled $11.6 billion in AuM at 31 December 2019. - BNP Paribas Cardif, the insurance subsidiary of BNP Paribas, more than doubled its green investments in the general funds of its domestic countries (France, Italy, Luxembourg). Symbol:	Not Climate Event
Input: The cost of the loan is associated with a Greenhouse gas emissions reduc- tion target of 1 million metric tons by 2025; o another $750 million SLL was syndicated for Finnish forest industry company UMP. Symbol: Not Climate Event Input: PUBLIC POSITIONS AND PARTNERSHIPS ON ENERGY AND CLIMATE-RELATED ISSUES BNP Paribas firmly believes it is more effective to address the complex and global challenges of climate change by working together. With that in mind, the Group is a member of several coalitions on the front line of the fight against climate change, such as: - The Group belongs to the Breakthrough Energy Coalition, which supports innovation in the interest of deve- loping clean energy. Launched by Bill Gates during the Conference of the Parties - Climate Change 21 conference, the coalition combines innovative re- search funded by public-private partnerships; - BNP Paribas helped draft the Charter for Engagement 'Women leading climate action', of the Women's Forum, a charter that has now been signed by nearly 400 corporations, opinion leaders and other organisations. Symbol: Not Climate Event Input: Impacts of Risks are consequences of risks, both quantitative and qualitative. There may be many consequences of risks manifesting, such as a reduction in earnings and capital, liquidity outflows, and fines or penalties, or qualitative impacts such as reputation damage, loss of clients and customers, and regulatory and enforcement actions. Symbol: Climate Event Input: That said, over the next year, we are undertaking an assessment of available methodologies for measuring financed emissions in order to determine the feasibility of using these methodologies to help align our financing activities with the goals of the Paris Climate Agreement. Symbol: Not Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk, as it will not be in line with our vision and values. Symbol: Climate Event Input: In Europe, as new legislative initiatives have been brought in, we have sought to maximize the opportunities for digital dissemination. BlackRock produces approximately 50,000 Undertakings for the Collective Investment in Transferable Securities ('UCITS') Key Investor Information Documents a year in multiple languages and we use our website as our primary delivery mechanism. We have also consistently advocated for key information disclosure documents, including UCITS, packaged retail investment, and insurance-based investment products and pan European personal pension products to be designed on a digitally friendly basis rather than on a paper basis.65 Symbol: Climate Event Input: Under the Strategic Plan 2018-2022, the company continues to optimise the businesses through additional efciency measures, with the commitment to cut annual operating expenses by Euros 500 million in 2022. These efciencies are focused on an analysis of the company's non-core activities and on the assignment of operational functions within each of the business units, all supported by the ongoing digitalisation processes. Symbol: Climate Event Input: Thanks to these investments, we are able to swiftly transfer work to unaffected locations if required and to keep potential financial impacts to a minimum.Based on our proprietary loss modelling, we calculate the annual expected losses (AEL) and loss-frequency distributions of major weather-related natural catastrophes. Symbol: Not Climate Event Input: Ping An owns multiple working premises and properties in China, and the majority of resource consumption comes from the use of electricity, water, and paper in daily operations. Thus, the effective implementation of green office program and promotion of energy conservation and emission reduction at these workplaces and properties are emphasized in Ping An's sustainability transformation. Ping An constantly promotes innovative measures in business operations. It ensures that its operations would not result in direct damage to the environment by means of energy-saving renovations and behavioral change. In addition, it realizes energy and carbon reduction through directly curbing emissions (e.g. Ping An's smart office) and indirect offset. Ping An is committed to adhering to relevant laws and regulations in operations and services, as well as advocating green operation to minimize the direct impacts towards the environment. This includes: Symbol:	Not Climate Event
Input: Plants. This methodology is forward-looking and uses the IEA's 2 C scenario. This has allowed the Group to set target and transition away from coal power generation and extraction. Output from this analysis shows that the credit portfolio in these two sectors is aligned and below a 2 C scenario. - Societe Generale has also tested a credit portfolio alignment methodology developed by the 2 C Investing Symbol: Not Climate Event Input: Global climate change could exacerbate certain of the threats facing our business, including the frequency and severity of weather-related events referred to in Performance of critical infrastructure in this section 9. In addition, increases in energy prices are partly influenced by government policies to address climate change which, combined with a growing data demand that increases our energy requirements, could increase our energy costs beyond our current expectations. Symbol: Not Climate Event Input: From a business continuity standpoint, MGC has identified production downtime due to drought or flooding of production facilities as a water-related risk, formulated the business continuity plan (BCP) that addresses this risk and implemented measures to mitigate it. None of the areas in which MGC’s plants are located has experienced either adverse impacts on production activities due to water stress or conflicts with stakeholders regarding use of water resources. Symbol: Not Climate Event Input: For our stakeholders: for customers, breaches in security may cause personal loss (both financial and emotional). There may also be consequences for relations with suppliers and intermediaries. For investors, any loss of business or reputation could result in lower returns. PSD2 will increase consumers’ control over financial data, but also their responsibility for this data. Symbol: Climate Event Input: If we are unable to attract and retain qualified personnel or fail to maintain our company culture, our business could be harmed. We compete against other major U.S. airlines for pilots, mechanics, and other skilled labor; some of them offer wage and benefit packages exceeding ours. As more pilots in the industry approach mandatory retirement age, the U.S. airline industry may be affected by a pilot shortage. We may be required to increase wages and/or benefits in order to attract and retain qualified personnel or risk considerable crewmember turnover. If we are unable to hire, train, and retain qualified crewmembers, our business could be harmed and we may be unable to implement our growth plans. Symbol: Climate Event Input: The sensitivity analysis does not show a comprehensive picture of all potential scenarios. Further, variables do not tend to move in isolation, nor in a uniform or consistent manner, and the analysis does not show the potentially infinite number of permutations, and resultant impacts, that might arise in reality as a consequence. Symbol: Climate Event Input: The quantitative investment strategies focus mainly on stock picking based on quality and valuation. It is precisely these strategies, which yield long-term value and are suitable for large portfolios, that tend to perform poorly in a context of highly accommodative central bank monetary policies. In 2019, all major quantitative investment styles performed poorly; stock picking based on valuation and quality and stock picking based on recent price trends both yielded negative returns. This combination is seldom seen. Symbol: Climate Event Input: Emission sources not reported This section of the report details the emission sources on which we have not reported and provides the reasons behind our decisions. Only a minority of the offices we operate directly make use of gas and we have included this in our emissions from combustion of fuel. We do not have distinct data on heat/steam for our other offices as this is most likely embedded in the office service charges that we pay. As a result, we have not currently reported on purchased heat or steam. In future we will devise a methodology to estimate the emissions associated with heating requirements for which we are responsible. Symbol: Not Climate Event Input: The long-term ambition is clear (to align its businesses with the Paris Agree- ment goals), but to achieve that ambition calls for short and medium-term targets in more specific bu- siness lines, allowing the Group to steer its various business operations with greater precision. Symbol:	Not Climate Event
Input: In 2019, we invested a total of R$ 72.4 million in the Energy Efficiency Program, which adheres to ANEEL's regulatory guidelines. The projects we developed have saved approximately 40,000 MWh of energy, enough to serve around 17,000 residential customers for one year. This saved volume also represents emissions of 2,825 tons of CO Symbol: Not Climate Event Input: The EBRD's target to increase green financing to 40 per cent of its total annual financing by 2020, was achieved in 2019, with total GET-eligible finance reaching 46 per cent.7 The Bank is currently in the process of preparing its next green economy targets to cover the period 2021-25. Symbol: Not Climate Event Input: This transition does not, however, automatically translate into a financial risk for us. For example, motor insurance is the most important business line of the re/insurance sector globally. According to Swiss Re's sigma database, it currently represents approximately 33% of global non-life gross written premiums and is expected to grow further, albeit at a lower rate. Symbol: Climate Event Input: These sector-specific policies are usually developed by the AI taking into account relevant industry certification schemes, international practices, its strategy, level of exposure to the particular sector, and even its engagement with customers, industry experts, shareholders and the community. Symbol: Climate Event Input: We also assess risks on the basis of their potential impact on the value of our franchise, which is supported by our reputation, brand and good customer relationships. Conduct and operational risks, such as cyber security breaches, data loss and IT systems failure, in particular have the potential to significantly impact our franchise value. Symbol: Climate Event Input: Climate change is a long-term risk associated with high uncertainty regarding timing, scope and severity of potential impacts. Climate risks can be grouped into physical risks and transition risks. Physical risks relate to losses from overall climate changes (i.e. changing weather patterns and sea level rise) and acute climate events (i.e. extreme weather and natural disasters). These physical risks impact property & casualty (P&C) insurance, but also life insurance, for instance through higher than expected mortality rates. Losses can also follow from credit risk and collateral linked to the mortgage portfolio. Aegon is exposed to mortality risk and mortgage underwriting Symbol: Not Climate Event Input: At the announcement of the business plan for the fiscal year ending March 31, 2020, as for investments and loans, we are setting the target at ¥2.1 trillion, which is within the three-year cumulative range announced already, and there is no change to our forecasts for asset recycling and shareholder returns. Symbol: Climate Event Input: To achieve these figures, we have increased the procurement of energy from renewable certified sources to a total of 733,8671 MWh in our buildings in Spain, Germany, Austria, Brazil, Poland, Switzerland, Portugal, Holland, Turkey, Belgium, Luxembourg, and its LEED Stores in the US, France, Italy, Switzerland and India, preventing 258,409 tonnes of greenhouse gas emissions. Thanks to this effort, the use of electricity from renewable sources in the company’s facilities multiplied by 17 since 2014. Symbol: Not Climate Event Input: Electricity Electricity is another significant source of carbon emissions. Since we began tracking our electricity use in 2014, our electricity consumption has decreased by 1% despite a 15% expansion in square footage and a 40% increase in headcount.49 Because of this growth, we were unable to achieve our initial 2020 goal of an 18% reduction. However, we continue to focus on reducing electricity through partnering with our landlords and leveraging energy efficiencies. Exhibit 10 provides additional data on our change in headcount versus electricity consumption. We improve energy efficiency through the consolidation of our data centers, retrofitting for LED lighting, redesigning our office space use, and adjusting our heating, ventilation, and air conditioning systems to more closely correlate to occupancy. Symbol:	Not Climate Event
Input: Reinvestment in the business In 2019, CN spent approximately $3.9 billion in its capital program, with $1.6 billion invested to maintain the safety and integrity of the network, particularly track infrastructure. CN's capital spending also included $1.2 billion on strategic initiatives to increase capacity, enable growth and improve network resiliency, including line capacity upgrades and information technology initiatives, $0.9 billion on equipment capital expenditures, including the acquisition of 154 new high-horsepower locomotives and 560 new grain hopper cars, and $0.2 billion on implementation of Positive Train Control (PTC), the safety technology system mandated by the U.S. Congress. Symbol: Climate Event Input: On 24 July 2019, we entered into two new senior debt facilities agreements, a £375 million private placement with infrastructure lenders with maturities between 2024 and 2029, and a £125 million ESG facility agreement that matures in 2022. The ESG facility includes a mechanism that adjusts the margin based on carbon emissions against an annual benchmark. Symbol: Not Climate Event Input: By their very nature, these forward-looking statements require assumptions to be made and involve inherent risks and uncertainties, both general and specific. Assumptions about the performance of the Canadian and U.S. economies in 2020, including in the context of the COVID-19 pandemic, and how that affect the Bank's business are among the main factors considered in setting the Bank's strategic priorities and objectives. Symbol: Climate Event Input: UBS is also involved in other activities to reduce gaps in climate-related financial data. We support the CDP, as an investor member as well as a questionnaire respondent, in their aim to improve company disclosure of risks and opportunities related to natural resources. We are also on the advisory panel of the Natural Capital Finance Alliance's advancing environmental management project. Symbol: Not Climate Event Input: At this stage the assessment is still considered qualitative, as further studies and research are yet to be completed, however it does indicate which risks may potentially have a material impact on Transurban's business. Each of these risks will be assessed further to confirm the scope and relative impact of the different consequences to better inform the management approach and reporting for future years. Symbol: Climate Event Input: We were also proud to partner with UK Climate Investments committing a combined R1 billion to a dedicated renewable energy investment vehicle, Revego Africa Energy. Revego Fund Managers (RFM), a newly incorporated black‑owned and managed fund manager, will be responsible for managing Revego’s investments in operating renewable energy projects in South Africa and other sub‑Saharan African countries. Symbol: Not Climate Event Input: Climate risk is currently governed by ING's Climate Change Committee and relevant risk management committees. In 2020, we formed a climate risk working group to further develop suitable methodologies and support its integration in risk management processes. Symbol: Not Climate Event Input: An inclusive culture at 3M is built on our Be Respectful Principles - to respect the dignity and worth of individuals; encourage the initiative of each employee; challenge individual capabilities; and provide equal opportunity. Symbol: Climate Event Input: The Technology and Operations and Enterprise Services teams work with Corporate Sustainability to implement initiatives to reduce the environmental impact of BlackRock's operations. In addition, BlackRock's Business Continuity Management and Disaster Recovery planning, strategy, and crisis management activities are managed by the Business Continuity Management team, which sits within Enterprise Services. Symbol:	Not Climate Event
Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk, as it will not be in line with our vision and values. Symbol: Climate Event Input: At the announcement of the business plan for the fiscal year ending March 31, 2020, as for investments and loans, we are setting the target at ¥2.1 trillion, which is within the three-year cumulative range announced already, and there is no change to our forecasts for asset recycling and shareholder returns. Symbol: Climate Event Input: An important consideration in the assessment of each risk was the relevant timeframe where the risk may be realised. In each case, the relevant scenario was documented and the most likely time horizon was identified. The likelihood and consequence was then assigned based on those parameters. Symbol: Climate Event Input: ING issued a dual tranche five-year EUR 500 million and three-year USD 800 million green bond. This is ING’s first-ever green bond transaction. The money raised will go to projects in six categories eligible under ING’s newly established green bond framework, including renewable energy, green buildings, public transport, waste, water and energy efficiency. We have chosen a broad selection of sectors, which reflects our ambition to support sustainability across all industries and sectors. Symbol: Not Climate Event Input: Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. Symbol: Climate Event Input: CLIMATE CHANGE Climate change presents immediate and long-term risks to Citi and to its clients and customers, with the risks potentially increasing over time. Climate risk can arise from physical risks (risks related to the physical effects of climate change) and transition risks (risks related to regulatory, legal, technological and market changes from a transition to a low- carbon economy). Symbol: Not Climate Event Input: We worked with the UK government to accelerate the transition to electric vehicles to cut carbon emissions and improve air quality for communities the length and breadth of the country. We were pleased to see a £500 million commitment in the 2020 Budget to support the rollout of new rapid-charging hubs so drivers are never more than 30 miles from a charging point. Symbol: Not Climate Event Input: More than $1 trillion in green bonds have been issued since these securities first emerged in 2007, according to research company BloombergNEF.18 BlackRock is heavily involved in and supportive of the green bond market. Symbol: Not Climate Event Input: The Bank is also a signatory to the Equator Principles III (EPIII) - a global set of principles and guidance to assess, mitigate, manage and monitor environmental and social risks in project-related financing. CBA co-leads the Climate Change Working Group to develop additional climate change assessment requirements in the next iteration of the Equator Principles (EPIV). This will include deeper guidance to support implementation of the principles by global financial institutions. Symbol:	Not Climate Event
Input: 4.3.4 Methods of stakeholder engagement are flexible and can be tailored according to different objectives. They may include surveys, meetings, written communication or any other channels, depending on the types of stakeholders. Given the areas of concerns and expectations may change over time, engagement should be an iterative process. Symbol: Climate Event Input: Through these initiatives, Konica Minolta is aiming to achieve the business targets of more than ¥75 billion in operating profit, ¥50 billion in profit attributable to owners of the company, and ROE of 9.5% by fiscal 2019, the final year of the Medium Term Business Plan. Beyond this, we are looking to achieve a medium-term target of more than ¥100 billion in operating profit and more than ¥70 billion in profit attributable to owners of the company by fiscal 2021. Symbol: Climate Event Input: In our outlook for impacts on our clients' business, we employed two scenarios: a static scenario which assumes that no attempt is made to transform the present business structure, and a dynamic scenario under which the business structure is transformed. Symbol: Climate Event Input: South West Water has maintained its investment in renewable energy, bringing the total expenditure for K5 to over £4 million. This has included the installation of the company’s largest solar panel array to date at its Exeter headquarters. Along with hydro generation, combined heat and power (CHP) and the wind turbine at Lowermoor Water Treatment Works, South West Water’s 34 solar panel schemes now bring the total capacity for renewable energy generation to over 10MW. Symbol: Not Climate Event Input: Climate change presents an evolving set of risks and opportunities for Coles, and has the potential to contribute to and increase the exposure of other material risks. These include increased frequency/intensity of extreme weather events and chronic climate changes which can disrupt our operations and compromise the safety of our team members, customers, supply chain and the food we sell; changes to government policy, law and regulation, which can result in increased costs to operate and potential for litigation; and failure to meet expectations of stakeholders resulting in reputational damage. Symbol: Not Climate Event Input: We have enhanced our Environmental, Social, and Governance heat map to include proxy climate risk metrics. This heat map is available to our analysts and fund managers and updated on a monthly basis. It includes a composite carbon exposure metric based on the carbon-intensity of business activities, the extent of operations in jurisdictions with stringent carbon emissions regulations and the quality of a company’s carbon management. We targeted a £500 million annual investment in low-carbon infrastructure from 2015-2020, and an associated carbon saving target of 100,000 CO2e tonnes annually. In 2017, we signed £527.5 million of new investment into wind, solar, biomass and energy efficiency. Aviva holds over £744 million in green bonds. Symbol: Not Climate Event Input: Dialogues with companies and decision-makers In addition to investing in sustainable strate- gies, AP2 has dialogues with companies and decision-makers to influence the transition to a low-fossil society. AP2 has in recent years, together with other investors, presen- ted a number of shareholder proposals on climate to several fossil energy companies (BP, Shell, Statoil) and the mining sector (Glencore, Rio Tinto, Anglo American). In addition to the shareholder proposals, the Fund also uses its voting rights to support other investors' shareholder proposals on climate. Over the past year, the Fund has noted that many company boards under- take to improve their climate reporting both in terms of emissions and in evaluation of the companies' projects/activities regarding climate scenarios. Symbol: Not Climate Event Input: At the beginning of 2019, VINCI Airports signed a memorandum of understanding with the Portuguese government to extend Lisbon’s airport capacity. It provides for upgrading the existing Humberto Delgado Airport and building a new civil airport on the Montijo Air base opposite the city at the eastern end of the Tagus estuary. VINCI Airports will invest €1.15 billion over the next 10 years in this two-pronged project. Symbol: Climate Event Input: We participate in the Carbon Disclosure Project Climate Change programme to disclose our climate strategy and performance to a collaboration of institutional investors. In 2019, our score dropped to B from A- in 2018, mainly due to our score for governance of climate-related issues and being unable to report on our full scope 3 inventory at the time of reporting. While disappointing, we now have measures in place to help to restore our score. These measures include strengthened governance through our new Board-level Sustainability Committee, and the work on scope 3 emissions described on page 40. Symbol:	Not Climate Event
Input: IAG is exposed to multiple risks relating to the conduct of its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline those risks faced by IAG that have been identified in IAG's RMS:  strategic risk – the risk of not achieving corporate or strategic goals due to poor business decisions regarding future business plans and strategies and/or a lack of responsiveness to changes in the business environment; Symbol: Climate Event Input: While the Trustee considers the impact of climate-related risks on all of the assets within which it invests, the primary focus has been on its equity exposure (although steps are being taken to extend this to the Scheme's holdings in publicly-traded corporate credit). The section above explained how the Trustee have co-developed the LGIM Future World Fund, its climate-related engagement activities and how the fund is used in both DB and DC strategies. Symbol: Not Climate Event Input: At the beginning of 2019, VINCI Airports signed a memorandum of understanding with the Portuguese government to extend Lisbon’s airport capacity. It provides for upgrading the existing Humberto Delgado Airport and building a new civil airport on the Montijo Air base opposite the city at the eastern end of the Tagus estuary. VINCI Airports will invest €1.15 billion over the next 10 years in this two-pronged project. Symbol: Climate Event Input: Data: Advancements in new technologies and new services, an increasing external threat landscape, and changing regulatory requirements increase the need for the Group to effectively govern, manage, and protect its data (or the data shared with third-party suppliers). Failure to manage data risk effectively can result in unethical decisions, poor customer outcomes, loss of value to the Group and mistrust. Symbol: Climate Event Input: Climate change is increasing the frequency and intensity of natural disasters. According to a report by the United Nations Office for Disaster Risk Reduction (UNDRR), there were 7,255 natural disasters worldwide within the 20 years from 1998 to 2017, and 91% of them were climate-related. Moreover, among disasters associated with climate change, such as floods, storms, drought and heat waves, damage from floods and storms is particularly heavy, and the number of such disasters increased 2.2 times compared with the previous 20 years. Symbol: Not Climate Event Input: Compliance risk Compliance risk is the risk of failure to comply with applicable rules and regulations, and in so doing, exposing the group to penalties and reputational damage. Penalties received or due for non-compliance are an example of this risk. As a leading financial services group, the group faces complex challenges to ensure that its activities comply with local legislation, regulations and supervisory requirements and the relevant international standards and requirements. Symbol: Climate Event Input: Over the long term, climate change will result in both acute events (e.g. increased severity and frequency of extreme weather phenomena) and chronic environmental changes (e.g. sustained higher temperatures). Resultant risks may manifest as: • operational risk (e.g. fines and penalties due to non- compliance) resulting in one-off losses or broader sustainability challenges (e.g. workforce absenteeism and illness due to extreme weather events) for the group or for clients; or • credit risk for the group due to damage to physical property and infrastructure resulting in productivity losses or supply chain disruptions which impact customers’ cash flows and ability to service existing debt. Symbol: Not Climate Event Input: Our first £250-million, eight-year bond will mature in August 2025 with a return to investors of 1.625 per cent. Since the successful launch of that debt transaction, we have raised a further £627 million of Green Bonds to investors in the UK and the United States in accordance with the ICMA Green Bond Principles. Symbol: Not Climate Event Input: Credit In 2019, DNB committed to a second phase of United Nations Environment Programme FI's Task Force on Climate-related Financial Disclosures banking pilot, which will run to mid-2020. In this Phase 2 pilot DNB will prioritise the power and renewables and oil, gas and offshore sectors. We expand on the scenario approach developed in United Nations Environment Programme FI's Task Force on Climate-related Financial Disclosures banking pilot Phase 1, and quantify climate risk in credit portfolios for climate scenarios with temperature increases of 1.5, 2 and 4 degrees Celsius. The scenarios describe a range of severe climate-related changes, against which we stress-test our portfolio resilience in the short, medium (2030) and long (2040) term. Symbol:	Not Climate Event
Input: The Electricity, Gas and Water Supply sectors show a general downward trend. The discontinuation of a number of high emissions intensive exposures contributed to this result in FY18. Our exposure to renewables increased 33% to $3.7 billion in FY18. A portion of the exposure included projects under construction which are typically initially more emissions intensive than operational renewable electricity assets. Symbol: Not Climate Event Input: The Technology and Operations and Enterprise Services teams work with Corporate Sustainability to implement initiatives to reduce the environmental impact of BlackRock's operations. In addition, BlackRock's Business Continuity Management and Disaster Recovery planning, strategy, and crisis management activities are managed by the Business Continuity Management team, which sits within Enterprise Services. Symbol: Not Climate Event Input: Under the Strategic Plan 2018-2022, the company continues to optimise the businesses through additional efciency measures, with the commitment to cut annual operating expenses by Euros 500 million in 2022. These efciencies are focused on an analysis of the company's non-core activities and on the assignment of operational functions within each of the business units, all supported by the ongoing digitalisation processes. Symbol: Climate Event Input: Although we have devoted significant resources to develop our risk management policies, procedures and methods, including with respect to market, credit, liquidity, operational as well as reputational and model risk, they may not be fully effective in mitigating our risk exposures in all economic market environments or against all types of risk, including risks that we fail to identify or anticipate. Symbol: Climate Event Input: Operational risks are inherent in the Barclays Bank Group’s business activities and it is not cost effective or possible to attempt to eliminate all operational risks. The Operational Risk Framework is therefore focused on identifying operational risks, assessing them and managing them within the Barclays Bank Group’s approved risk appetite. Symbol: Climate Event Input: Uncertainty around the evolution of the wholesale market design, given the current challenges: • Marginal remuneration system not adjusted to the current context of growing penetration of fixed cost technologies (renewables, backup, storage). • Growing penetration of technologies with 0 marginal cost (reducing prices and increasing prices’ volatility). • Uncertainty around the returns of the conventional generation, in particular as backup capacity (relevant in a perspective of ensuring security of supply). • Volatile context, not suitable for long-term investments necessary to the modernization, decarbonization and security of supply. Symbol: Not Climate Event Input: The Group considers risk management to be the key point in the financing business. We are therefore establishing a specialized risk management system that includes risk assessment standards specific to asset types, portfolio management, and monitoring methods. Under this management system, we will prioritize increasing transaction diversification as a concrete method of increasing operating assets exceeding ¥100 billion over the coming three years. Symbol: Climate Event Input: In this environment, there are several the Group, as a global distributor, faces due to climate change. These include physical risks with increased likelihood of more extreme events such as storms, and heatwaves which could affect the business’s physical sites or its distribution process. A further risk is regulatory change, often by governments, designed to reduce greenhouse gas (GHG) emissions. These may render certain products obsolete whilst increasing demand for others. Other potential impacts include increases, for example, in the costs of air transport of inventory to meet customer demands. There is also reputation risk if the business is not seen to be taking deliberate and tangible actions to reduce its GHG emissions. Symbol: Not Climate Event Input: In addition to reductions in our vending and cooler equipment footprints, emission reductions have also been achieved through our progress towards sustainably sourcing palm oil, reducing added sugar in our beverages, increasing recycled content in our packaging, establishing partnerships on soil health practices within our value chain, and eliminating waste went to landfill from our facilities. Symbol:	Not Climate Event
Input: Announced by CEO Mike Roman on Investor Day in November 2018, the Framework directs our efforts to areas where we can make the greatest impact: Science for Circular, Science for Climate, and Science for Community. Symbol: Not Climate Event Input: AGL's Risk Management Policy, which has been approved by AGL's Board, mandates that management utilise risk management principles in decision-making, and requires all AGL people to consider their functions and roles and how to manage risks arising from their business decisions and activities. AGL's Statement of Risk Appetite, reviewed annually by the ARMC, sets out AGL's risk appetite in relation to strategic, financial, market and operational risks, as well as AGL's risk tolerance (which in turn identifies activities for which AGL has no appetite). Symbol: Climate Event Input: In May 2020, BBVA was the first private financial institution in Europe to issue a COVID-19-related social bond and, two months later, the Bank was the first financial institution to issue contingent convertible perpetual bonds (CoCos) classified as green bonds, for EUR 1 billion. The funds will be used to finance eligible green assets in BBVA's portfolio. The portfolio is diversified into assets from different green sectors: energy efficiency, renewable energy, sustainable transportation, waste management and water management. Symbol: Not Climate Event Input: The Group considers risk management to be the key point in the financing business. We are therefore establishing a specialized risk management system that includes risk assessment standards specific to asset types, portfolio management, and monitoring methods. Under this management system, we will prioritize increasing transaction diversification as a concrete method of increasing operating assets exceeding ¥100 billion over the coming three years. Symbol: Climate Event Input: Å Our commitment for renewable energy to comprise at least 20% of our energy portfolio in 2022 with the help of our Energy Transition Fund. This fund focuses on investment opportunities in projects and companies that are helping to accelerate the energy transition and has scope to grow to over EUR 200 million; Symbol: Not Climate Event Input: The ability to enable a fast and effective response to, and recovery from, disruptive events. The effectiveness of this element is determined by the thoroughness of efforts to plan, prepare and exercise in advance of events. Symbol: Climate Event Input: This transition does not, however, automatically translate into a financial risk for us. For example, motor insurance is the most important business line of the re/insurance sector globally. According to Swiss Re's sigma database, it currently represents approximately 33% of global non-life gross written premiums and is expected to grow further, albeit at a lower rate. Symbol: Climate Event Input: Disengaging and divesting from thermal coal, oil sands and oil shale Fossil fuels emit carbon dioxide (CO2) when burned and extracting them can harm the environment. We are working with customers and companies in which we invest that have more than 30 percent exposure to thermal coal, oil sands and oil shales to help them to reduce their use and exposure to these fuels. Zurich will also generally no longer underwrite or invest in companies generating more than 30 percent of their revenue from mining or more than 30 percent of their electricity from thermal coal. Symbol: Not Climate Event Input: The Bank acknowledges that climate change may have an impact on its financial planning process. As a result, it will roll out a scenario analysis program over the coming years to account for how environmental impacts may affect analyses of income and operating expenses, investments, capital distribution, potential acquisitions or divestitures and access to capital, among other factors. Symbol:	Not Climate Event
Input: Businesses subject to this policy and implementation methods In this document, section 4.3.1.3 (1) Financing and Investment Transactions Prohibited Regardless of Sector lists projects for which we prohibit any financing or investment. Symbol: Climate Event Input: Climate Scenario Analysis: Using Software to Assess Our Resilience In 2018, we began developing a climate scenario analysis tool (CSAT) to help identify climate-related risks and quantify the impact they could have on airports we fly to. Symbol: Not Climate Event Input: The Group is exposed to multiple risks relating to the conduct of its general insurance business. The following risks noted below are not meant to represent an exhaustive list, but the risks faced by the Group that have been identified by the RMS process:  strategic risk: the risk of not achieving corporate or strategic goals; Symbol: Climate Event Input: Application - Projects with high and irreversible risks and po - tential impact, where it is not deemed possible to establish a viable action plan, or projects that con - travene the Bank's corporate values, are rejected. Symbol: Climate Event Input: Our new policy measures outlined on page 1 will play a key role in shaping our portfolio over the coming years and help ensure we stay on track to meet our longer term goal. Symbol: Climate Event Input: In 2019 ATP has invested DKK 0.7bn in a gas pipe- line to move waste gas from one of the world’s largest oilfields, Delaware Basin in western Texas, to Mexico. The natural gas is a by-product of oil drilling. In the past the gas was burned off, but it is now taken away for the production of electricity. The gas thereby replaces some of the need for coal and oil to produce electricity in Texas and Mexico. The natural gas pipeline therefore represents important infrastructure as a solution to support the green transition since gas almost halves the emission of CO2 when used to replace coal and oil for the production of electricity. Symbol: Not Climate Event Input: Climate change presents an evolving set of risks and opportunities for Coles, and has the potential to contribute to and increase the exposure of other material risks. These include increased frequency/intensity of extreme weather events and chronic climate changes which can disrupt our operations and compromise the safety of our team members, customers, supply chain and the food we sell; changes to government policy, law and regulation, which can result in increased costs to operate and potential for litigation; and failure to meet expectations of stakeholders resulting in reputational damage. Symbol: Not Climate Event Input: In the US, the SEC has taken positive steps to facilitate e- delivery of mutual fund shareholder reports through the adoption of Rule 30e-3, which allows Registered Investment Companies to transmit shareholder reports electronically (subject to certain requirements). The ICI estimated that the adoption of Rule 30e-3 would save 1.87 million trees annually.63 Rule 30e-3 is effective beginning January 2021. We have long advocated for e-delivery given its benefits to investors and the environment, and we have encouraged the SEC to allow e-delivery as the default transmission mechanism beyond what they accomplished with 30e-3. In November 2020, the SEC Asset Management Advisory Committee recommended that the SEC further expand e- delivery. 64 Symbol: Not Climate Event Input: We are Australia's largest corporate purchaser of electricity from renewable projects connected to the grid under project specific agreements. While the output from these projects goes into the total grid pool, rather than directly into our facilities, these agreements play a role in providing the investment certainty to enable these projects to proceed. As the grid itself increases its proportion of renewable energy due to agreements with us and others, the power that flows into our facilities from the grid also becomes greener. The projects we have agreements with, including the Murra Warra Wind Farm and the Emerald Solar Park, generate renewable energy equivalent to the energy consumption of 255,000 households. We will continue to build on this work and invest in renewable energy generation. Symbol:	Not Climate Event
Input: Physical risks have a higher probability to impact coffee, with higher temperatures and water shortages compromising quality and reducing availability. This may lead to an increase in raw material costs for the industry, and have economic and social impacts on coffee-growing communities. For wheat and dairy, there is a potential increase in the volatility of regional sourcing due to greater local climate variability but overall we foresee limited impact on global macro yields. Symbol: Not Climate Event Input: In addition to reductions in our vending and cooler equipment footprints, emission reductions have also been achieved through our progress towards sustainably sourcing palm oil, reducing added sugar in our beverages, increasing recycled content in our packaging, establishing partnerships on soil health practices within our value chain, and eliminating waste went to landfill from our facilities. Symbol: Not Climate Event Input: In late 2017, CN committed to purchasing 200 new alternating current traction locomotives over the next three years to accommodate future growth opportunities and drive operational efficiency across the system. CN’s order is the largest among Class I railways since 2014. These high-horsepower engines are equipped with advanced digital technologies to optimize power distribution, train handling, brake control and fuel utilization. Symbol: Climate Event Input: We may be subject to unionization, work stoppages, slowdowns or increased labor costs and the unionization of the Company’s pilots and inflight crewmembers could result in increased labor costs. Our business is labor intensive and the unionization of any of our crewmembers could result in demands that may increase our operating expenses and adversely affect our financial condition and results of operations. Any of the different crafts or classes of our crewmembers could unionize at any time, which would require us to negotiate in good faith with the crewmember group’s certified representative concerning a collective bargaining agreement. In addition, we may be subject to disruptions by unions protesting the non-union status of our other crewmembers. Any of these events would be disruptive to our operations and could harm our business. Symbol: Climate Event Input: Although we have devoted significant resources to develop our risk management policies, procedures and methods, including with respect to market, credit, liquidity, operational as well as reputational and model risk, they may not be fully effective in mitigating our risk exposures in all economic market environments or against all types of risk, including risks that we fail to identify or anticipate. Symbol: Climate Event Input: The fund that investment trust plans to issue will be related to environmental protection with green energy and low carbon. The listed corporates of the fund will be focused on the selection from the lower 50% of the quantitative screening criteria for their carbon emissions figures and calculate the carbon emissions per unit of revenue. Symbol: Not Climate Event Input: The Bank signed five transactions worth a total of €47 million under its Green Cities Framework in support of environmentally friendly municipal investments. Projects included financing for an electric bus fleet in Batumi, Georgia, and for a biomass-fuelled district heating plant in Banja Luka, Bosnia and Herzegovina. A wide range of donors provide funding in support of the Framework. Symbol: Not Climate Event Input: In 2018, CN spent approximately $3.5 billion in its capital program, with $1.6 billion invested to maintain the safety and integrity of the network, particularly track infrastructure. CN's capital spending also included $1.0 billion on strategic initiatives to increase capacity, enable growth and improve network resiliency, including line capacity upgrades and information technology initiatives, $0.5 billion on equipment capital expenditures, including the acquisition of 500 new centerbeam cars and 65 new high-horsepower locomotives, and $0.4 billion on implementation of Positive Train Control (PTC), the safety technology mandated by the U.S. Congress. Symbol: Climate Event Input: The Group Compliance SU (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control framework, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk across the entire Group. Symbol:	Climate Event
Input: The aggregated estimate for the ve selected segments of the Group's Australian lending portfolio indicates that the Group lends approximately $23,320 to these sectors in Australia for every tonne of Greenhouse gas emissions released to the atmosphere by customers in these industry segments. Symbol: Not Climate Event Input: We recognize that there is potentially a lot of uncertainty regarding how to quantify these impacts and that reasonable people can differ in their assessments. As our collective knowledge and understanding of these mechanisms evolve, it is possible that the quantification of these scenarios may also change. Symbol: Climate Event Input: The EBRD provided a total of €98 million to finance windfarm projects in Poland and invested 14 billion tenge (€63 million equivalent) in a wind farm in Kazakhstan, considered a highly promising country for renewable energy development. The Bank signed wind and solar energy projects in Romania and financed the construction of a new hydropower plant in Georgia that will be one of the country’s few privately owned, greenfield hydropower plants. Symbol: Not Climate Event Input: The current model for financing renewables is an example of inefficient distribution of effort, since, even though the electricity sector accounts for only around 25% of energy consumption, it is the electricity consumers who bear most of these costs (more than 80% in Portugal and Spain). This effect distorts competition among the various energy vectors, limiting electrification and penalizing consumers who are most dependent on this energy vector. Symbol: Not Climate Event Input: Should there be any local special conditions that are not sufficiently addressed by the group or parent strategy, the AI should either raise them with the group or parent for a possible solution or address them locally. In this regard, communication channels should be in place to facilitate the process. Symbol: Climate Event Input: Mobilizing private and institutional capital: We mobilize capital to support environmental and social issues, including the transition to a low carbon economy. For example: - We offer 100% sustainable discretionary mandates and asset allocation funds based on our new dedicated SI Strategic Asset Allocation for private clients in Global Wealth Management (GWM). - Our GWM in collaboration with AM is developing a range of new thematic and pooled impact investments. - Our GWM has committed to integrating Environmental, Social, and Governance assess- ments, including a dedicated climate dimension, into all fund and ETF onboardings. - We have set a target of directing USD 5 billion of client assets into new impact investments for the Sustainable Development Goals by end of 2021. These investments include a significant climate component. - We participated in launching Align17 - a WEF Young Global Leaders initiative - an independent, third-party digital marketplace, which stands out in connecting a wider range of public, institutional, and private wealth investors with SDG-related investment opportunities. - Our AM and GWM businesses have in place a comprehen- sive approach to environmental and social factors and to corporate governance across investment disciplines. The 2018 GRESB (Global Real Estate Sustainability Benchmark) awarded ten of AM's real estate and infra- structure funds 5 - star ratings, and seven funds ranked first in their respective peer groups. Symbol: Not Climate Event Input: The foregoing list of risk factors is not exhaustive. Additional information about these factors can be found in the Risk Management section of the Bank's 2019 Annual Report. This information may be updated in our quarterly Shareholder Reports. Investors and others who rely on the Bank's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Symbol: Climate Event Input: Given the significant impact of this period of uncertainty on both Canadian businesses and companies and governments around the world, and the resulting volatility in financial markets, we expect to see significant effects on several of our financial statement line items and on our financial results in 2020. The timing and size of those impacts is not possible to forecast at this time. Symbol: Climate Event Input: Since November 2019, Aviva France has committed to not invest in companies developing new coal mining projects or are planning a substantial increase of its annual (thermal) coal production volume; companies with 20% of their revenue coming from coal-related Aviva Investors' $44bn Real Assets platform comprises equity and debt investments in both real estate and infrastructure, with a concentration of assets in Europe and a growing interest in developing countries. Symbol:	Not Climate Event
Input: We have been investing in videoconferencing and remote working capabilities as part of our IT Transformation Programme. Videoconferencing is integrated into our online collaboration platforms, enabling colleagues to join virtual meetings anytime, anywhere. Our teams can run webcasts with up to 500 participants. Symbol: Climate Event Input: Cities account for 75 per cent of worldwide greenhouse gas (GHG) emissions. EBRD Green Cities, a programme that supports sustainable urban planning and investment, is central to Bank efforts to curb climate change. Under the initiative in 2018, the EBRD invested €265 million in 10 projects which together are expected to reduce GHG emissions by 319,000 tonnes annually. Donors help to fund the action plans that are the centrepiece of EBRD Green Cities and other aspects of the programme. Symbol: Not Climate Event Input: F rom an investor’s perspective, climate change entails both physical and transition risks, which have an impact on the value of investments. Physical risks are divided into acute and chronic risks, which refer to the challenges that climate change poses to companies and society, such as unexpected damage caused by extreme weather events or the depletion of natural resources in the longer term. Transition risks refer to changes, for example, in regulation, technology and consumer behaviour that the transition to a lower-carbon economy entails. Symbol: Not Climate Event Input: For our stakeholders: for customers, breaches in security may cause personal loss (both financial and emotional). There may also be consequences for relations with suppliers and intermediaries. For investors, any loss of business or reputation could result in lower returns. PSD2 will increase consumers’ control over financial data, but also their responsibility for this data. Symbol: Climate Event Input: This strategic plan is based on a number of assumptions, in particular relating to the macroeconomic environment and the development of activities. Failure to achieve these objectives or the occurrence of unexpected events could compromise the achievement of the strategic plan and have a material adverse effect on the Group's business, results of operations and financial position. Symbol: Climate Event Input: In April 2018, the Group successfully completed a refinancing to convert floating to fixed debt and to extend the debt maturity out to November 2025. The Group issued a US$300 million bond with a fixed interest rate of 6.625%, which was swapped back to sterling upon issuance at an effective interest rate of 5%. The proceeds of the new issue were used to repay in full the £200 million floating rate bond issued in 2017 which had a maturity of 2022. Symbol: Climate Event Input: Creating markets for certified green buildings IFC has identified an investment opportunity of almost $25 trillion for green buildings in emerging markets, because of high population growth, urbanization trends, and deployment of existing technologies for resource efficiency. To tap into this potential, IFC created EDGE — Excellence in Design for Greater Efficiencies — a green building certification program for more than 150 countries. Symbol: Not Climate Event Input: In 2019, we: - incorporated conduct risk management into our risk culture framework and stepped up risk culture communication efforts Group-wide, with an emphasis on the Tone from the Top and Tone from Above; - implemented a risk culture dashboard to provide regular updates to the Board and senior management; - introduced measures to assess the results of the various risk culture initiatives, including feedback from senior management committees and an annual self-assessment exercise for key business and support units. We also included more questions on risk culture in the Bank's Employee Engagement Survey. UOB is also a member of the Culture and Conduct Steering Committee, established by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) to promote sound culture and to raise conduct standards among banks in Singapore; - benchmarked our Three Lines of Defence (3LOD) framework against industry best practices to strengthen our current approach further. We also established a new 3LOD Working Group to drive and to implement identified key initiatives, which aim to define ownership for new areas of risks, to harmonise risk management and controls across the 3LOD, to integrate the assurance methodology and to create a single robust governance, risk and compliance reporting framework; - replaced the Value-at-Risk (VaR) measure with Expected Shortfall (ES) limits monitoring. The latter takes into account the spread of the tail losses in the process of historical simulation and can provide a more accurate picture of risk and capture large movements in the event of financial market stress, which the VaR measure was unable to do. We also enhanced our Market Risk Aggregation Limits system to automate fully the market risk limits monitoring for all market risk asset types and limits; and - tightened our Responsible Financing Policy in relation to the financing of carbon-intensive sectors in recognition of the rising threat posed by climate change. We established a Taskforce on Climate-related Financial Disclosures (TCFD) Working Group to oversee and to drive the adoption of the Task Force on Climate-related Financial Disclosures recommendations. We endeavour to build our capability on climate risk management and stress-testing through active engagement with regulators, industry associations and climate specialists. We also maintained a strong focus on our capacity-building efforts, of which a key initiative was the successful roll-out of the ABS e-learning module on responsible finance to our colleagues in Singapore. Symbol: Not Climate Event Input: BNP Paribas conducted two studies in 2019 to as- sess the resilience of its loan books to transition risks and physical risks. - The Industry Research Department (EIS) of the Group Risk Department performed an internal analysis on five-year energy and climate-related risks, physical risks and transition risks. This report is part of the Group's standard analysis of syste- mic risks, inter alia in the context of the analyses conducted by EIS on the impact of different risk factors on economic sectors. The purpose of the analysis was to identify and assess the main en- ergy transition and climate change risks incurred by BNP Paribas. It notably examined the impact of climate change on sovereign risk and the more or less significant exposure of various economic sectors to energy transition risks and opportuni- ties. This broad, detailed study found BNP Pari- bas' business model to be resilient to these risks, with respect to: o its businesses, and the sector and geographic classifications of its portfolios; o the measures taken to mitigate these risks. - For the first time, in 2019 and with the help of external specialists, BNP Paribas performed an assessment, on a sample of clients in its portfolio, of physical risks covering the consequences of cli- mate change (extreme weather events) on the as- sets of Group clients. They generate financial risks for companies not only through direct impacts on their assets, but also in terms of indirect impacts through their supply chains and markets. For each counterparty analysed, the final score of exposure to physical risks is based on three risk factors: operational risks, supply chain risks (upstream) and risks of market share losses (downstream). Symbol:	Not Climate Event
Input: Physical damage may arise with more frequency due to extreme weather events. This includes damage to equipment such as turbine blades and transmission infrastructure, as well as access roads, which impact operational performance. Risks also include long-term changes to weather patterns causing material change to an asset’s energy yield from that expected at the time of investment. Symbol: Not Climate Event Input: R I S K - I N F O R M E D D E C I S I O N M A K I N G To achieve our business objectives and performance goals, we must ensure that our business strategies are aligned with the risks we face. Symbol: Climate Event Input: In July 2019, the European Investment Bank (EIB) approved a credit line with a total value of €250m for mBank and its subsidiary mLeasing to support Polish SMEs and mid-caps with climate protection measures focusing on photovoltaic systems. A new coal guideline has been in force at mBank since April 2019, according to which no new coal mines or coal-fired power plants will be financed. In addition, mBank will not establish any new relationships with companies for which the share of electricity generated from coal exceeds 50%. Furthermore, in October 2019 mBank adopted a new lending policy geared to the mining, energy and transport sectors in particular, based on the EU’s climate and energy policy. Symbol: Not Climate Event Input: Upton 2 — We have completed the construction of our first battery energy storage system (ESS). In October 2018, we were awarded a $1 million grant from the TCEQ for our battery ESS at our Upton 2 solar facility. The grant is part of the Texas Emissions Reduction Plan. The 10 MW lithium-ion ESS captures excess solar energy produced during the day and releases the energy in late afternoon and early evening, when demand is highest. The Upton 2 battery ESS became operational in December 2018. Symbol: Not Climate Event Input: This figure included €153 million worth of assets in the Artemis office portfolio which comprises 33 assets, covering 360,000 sqm, in five different European countries. Over the rest of the portfolio, a further €255 million of assets are contracted and currently in the process of being onboarded during the first half of this year and will add to AUM during FY18. Symbol: Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk and accepting that it is not in line with our vision and values. Symbol: Climate Event Input: Our business model may also be adversely affected by risks related to the physical impacts of climate change and extreme weather conditions. As the risk of flooding, wildfires, storms or hail increases it could become more difficult for LeasePlan to offer affordable insurance protection and may impact our pricing of these products. These could also impact our RMT services if more vehicles in our fleet are damaged or require more frequent servicing as a result of changing weather patterns. Finally, there is the possibility that extreme weather events will impact our business continuity at certain locations, if our employees are unable to reach their places of work or if office locations and delivery stores are physically damaged. Symbol: Not Climate Event Input: The Group Compliance SU (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control framework, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk across the entire Group. Symbol: Climate Event Input: It is essential that risk assessment and risk-informed decision-making is integrated across all levels of our organization - from the board of directors through oversight of the risk management policy and program to executive leadership through the Risk Management Committee and to business operations. Symbol:	Climate Event
Input: In general, the Group's strategic risks were stable during the year with competitor capacity being monitored and assessed within the Group. IAG continues to support deregulation, manage its supplier base and explore opportunities for consolidation. Symbol: Climate Event Input: In addition, many of the project’s end-customers are large entities with wide ranging activities. A climate related event in a non-related part of the business could have a material adverse impact on the financial strength of such end-customer and their ability to honor their contractual obligations which could negatively impact on revenue and the cash flow of the project and our business. Symbol: Not Climate Event Input: A global increase in greenhouse gas (GHG) concentration in our atmosphere has caused a record-breaking pace of temperature rise, and the rate of change is still increasing. Since the 1880s, the average global temperature has increased by 1.1 degrees Celsius. A destructive trend of impacts has emerged, from stronger hurricanes to intensified droughts and rising sea levels: climate change is already causing large-scale damage to communities around the world. Symbol: Not Climate Event Input: R I S K - I N F O R M E D D E C I S I O N M A K I N G To achieve our business objectives and performance goals, we must ensure that our business strategies are aligned with the risks we face. Symbol: Climate Event Input: In our outlook for impacts on our clients' business, we employed two scenarios: a static scenario which assumes that no attempt is made to transform the present business structure, and a dynamic scenario under which the business structure is transformed. Symbol: Climate Event Input: 14 those related to our products and services, demand and distribution, financial performance, credit rating and debt obligations. Given that developments concerning the COVID-19 pandemic have been constantly evolving, additional impacts and risks may arise that we are not aware of or able to appropriately respond to at this time. Symbol: Climate Event Input: We also support and advise companies in the Latin American and Caribbean agricultural sector to make smart investments that can improve their resilience to climate change. A 7-year financing for up to US$30 million was granted by IDB Invest and Rabobank to support Desdelsur. This project financed the completion of the clients comprehensive livestock project, making its feedlot the largest in Argentina, strengthening its leading position in the export of legumes and oilseeds by telecommunications sector, as well as financing part of the company’s strategic investment plan for the deployment of a 4G network and providing better connectivity across its territory. Symbol: Not Climate Event Input: This new focus is laid out in Eiffage’s 2020 business plan, with the decision to entrust the coordination of transversal innovation to the Sustainable Development department and make internal financial resources available to support the roll-out of the Group’s low-carbon offering. Created in 2016 and allocated an annual budget of €2 million, the E-Face fund supports the operational development of low-carbon offerings by funding the cost differential between a traditional solution and an alternative, low-emission solution for all eligible commercial projects undertaken by the Group. Apart from providing important leverage by co-financing the reduced carbon footprint of a project, the fund also helps identify low-carbon materials, products and processes that can easily be substituted for their high-carbon equivalents while introducing traceability of the carbon content of purchases for accounting purposes. Symbol: Not Climate Event Input: The following additional restrictions are in place for clients active in mountaintop removal mining (MTR): Barclays does not directly finance MTR projects or developments; We apply EDD to financing facilities involving clients which practice MTR. Symbol:	Not Climate Event
Input: 14 those related to our products and services, demand and distribution, financial performance, credit rating and debt obligations. Given that developments concerning the COVID-19 pandemic have been constantly evolving, additional impacts and risks may arise that we are not aware of or able to appropriately respond to at this time. Symbol: Climate Event Input: IAG is exposed to multiple risks relating to its businesses and pursuit of its strategic objectives. The risks noted below are not exhaustive, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: United Nations Environment Programme FI LENDING PILOT CASE STUDY: TD and Bloomberg Testing Geospatial Mapping for Physical Risk Assessment1 TD collaborated with Bloomberg and Acclimatise to use an innovative geospatial solution for assessing physical risks of climate change (from both incremental changes and extreme weather events) to borrower credit ratings within the bank's lending portfolio. Symbol: Not Climate Event Input: This long-term perspective is reflected in the choice of strategic portfolio, which includes both the long-term distribution of capital over various broad asset classes as well as strategies that determine the distribution within each asset class of individual securities. Symbol: Climate Event Input: Our capital expenditure programme is focused on maintaining and improving our assets and services, ensuring we can deal with growth, and on meeting water quality and environmental standards. In AMP6, we completed a £2.2 billion programme of investment, delivered by our alliance partners, which will help provide our services until 2030. Symbol: Not Climate Event Input: Claims and insurance supply chain  Risks of growing numbers of natural perils related claims was demonstrated by the bushfire, hail and storm events this financial year. This presents a short-term risk to operational claims handling capacity. In the medium term, supply and demand imbalances have the potential to impact claims inflation. Underlying supply chain costs could be impacted by limited availability of raw materials and potential carbon regulation but, as noted above, this is expected to be relatively immaterial. Symbol: Not Climate Event Input: The British Columbia Carbon Tax Act sets a carbon price of $30 per tonne of CO2e on fuel combustion. Beginning April 1, 2018, the provincial carbon tax is expected to increase by $5 per tonne of CO2e per year, reaching the federal target carbon price of $50 on April 1, 2021. The tax may also be expanded to fugitive and vented emissions from the oil and gas sector. The Government of British Columbia has also introduced measures to reduce upstream Symbol: Not Climate Event Input: At the announcement of the business plan for the fiscal year ending March 31, 2020, as for investments and loans, we are setting the target at ¥2.1 trillion, which is within the three-year cumulative range announced already, and there is no change to our forecasts for asset recycling and shareholder returns. Symbol: Climate Event Input: In January 2020, GSF and Morgan Stanley Research convened our inaugural Cross-Divisional Forum on Climate Change. This collaboration brought together Morgan Stanley's experts on climate-related risks and opportunities across business units, including: - Institutional Securities Group: divisions represented included Investment Banking, Global Capital Markets, Institutional Equities, Fixed Income, Public Finance and Commodities - Wealth Management: joined by Wealth Management Investment Resources and Capital Markets - Investment Management: joined by portfolio managers from Private Credit and Equity, Real Assets and Alternative Investment Partners Symbol:	Not Climate Event
Input: The foregoing list of risk factors is not exhaustive. Additional information about these factors can be found in the Risk Management section of the Bank's 2019 Annual Report. This information may be updated in our quarterly Shareholder Reports. Investors and others who rely on the Bank's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Symbol: Climate Event Input: Over the past several years, changing weather patterns and climatic conditions, including as a result of global warming, have added to the unpredictability, frequency and severity of natural disasters and created additional uncertainty as to future trends and exposures. In particular, the consequences of climate change are expected to significantly impact the insurance industry, including with respect to risk perception, pricing and modeling assumptions, and need for new insurance products, all of which may create unforeseen risks not currently known to us. Symbol: Not Climate Event Input: More than $1 trillion in green bonds have been issued since these securities first emerged in 2007, according to research company BloombergNEF.18 BlackRock is heavily involved in and supportive of the green bond market. Symbol: Not Climate Event Input: — Commercial successes In December 2019, Eiffage acquired a portfolio of nine small hydro power plants located in south-western France from a private investor. A vast renovation plan (at a cost of about €25 million) and work to bring them into compliance with standards will give these nine plants an installed capacity of 6 MW. Symbol: Not Climate Event Input: Operational risk involves the risk of a positive, negative or potential loss resulting from inadequate or failed internal processes, human behaviour and systems or from external incidents. Business continuity risk, financial reporting risk, model risk and HR risk are within the scope of the Group’s operational risk management. Operational incidents and losses in all (risk) areas are recorded in the Operational Incident Database. Symbol: Climate Event Input: Two key reports were published in the 2020 nancial year, including a nance report and a science report which are available at: https://www.cmsi.org.au/reports - Climate-KIC Australia (Climate-KIC) - The Group has been working with Climate-KIC and a number of other organisations, including government agencies and industry bodies on an Adaptation Finance Project. Symbol: Not Climate Event Input: 51 In February 2020, BlackRock made a charitable contribution of its 20% stake in PennyMac Financial Services, Inc. to the BlackRock Foundation, a newly established corporate foundation, and the BlackRock Charitable Fund, a donor- advised fund, which was established in 2013. Symbol: Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk and accepting that it is not in line with our vision and values. Symbol: Climate Event Input: Equator Principles (EP) within the scope covered by this initiative. Moreover, Societe Generale has voluntarily expanded the scope of application of the EP to include a range of transactions likely to present E&S challenges, such as equity capital market transactions, debt capital market transactions, mergers and acquisitions, and acquisition financing. Even beyond this scope, any financial transaction entered into by Corporate and Investment Banking involves the identification of any E&S risks relating to the client, other than financial institutions. Symbol:	Not Climate Event
Input: Two key reports were published in the 2020 nancial year, including a nance report and a science report which are available at: https://www.cmsi.org.au/reports - Climate-KIC Australia (Climate-KIC) - The Group has been working with Climate-KIC and a number of other organisations, including government agencies and industry bodies on an Adaptation Finance Project. Symbol: Not Climate Event Input: In our outlook for impacts on our clients' business, we employed two scenarios: a static scenario which assumes that no attempt is made to transform the present business structure, and a dynamic scenario under which the business structure is transformed. Symbol: Climate Event Input: Human rights are being severely affected by climate change. Human rights outcomes related to climate impacts include the loss of land, forced migration, and loss of life and resources due to conflict. People also have their rights to livelihood and work affected. Consequently, human rights impacts are of primary concern in a just transition. Symbol: Not Climate Event Input: As a leader in the index investing and asset management industry, BlackRock has been the subject of commentary citing concerns about the growth of index investing, as well as perceived competition issues associated with asset managers managing stakes in multiple companies within certain industries, known as “common ownership”. The commentators argue that index funds have the potential to distort investment flows, create stock price bubbles, or conversely, exacerbate a decline in market prices. Symbol: Climate Event Input: 64 exclusion lists of companies and countries, drawn up and updated periodically, with the help of an independent expert advisor. These lists include companies involved in controversial weapons and countries with high risk of violating human rights, which are automatically excluded from the list of companies in which BBVA can invest. Symbol: Climate Event Input: Climate resilience In October 2019, we updated our scenario analysis on the value of our generation portfolio, to evaluate the impact of the more ambitious Paris Agreement goal of a 1.5 C carbon reduction pathway.14 Our generation portfolio represented 84 per cent of our operated Scope 1 and Scope 2 emissions in FY2020. Symbol: Not Climate Event Input: During FY2019, APA expects to commission the 110 MW Darling Downs Solar Farm, the 130 MW Badgingarra Wind Farm and the 17.5 MW Badgingarra Solar Farm. APA continues to evaluate further renewable energy opportunities together with stand-alone and integrated low emission gas generation. This combination of intermittent renewable generation with reliable, low emissions gas-fuelled generation is well positioned to help deliver energy to people, businesses and communities that use it, affordably, efficiently and reliably. Symbol: Not Climate Event Input: We also assess risks on the basis of their potential impact on the value of our franchise, which is supported by our reputation, brand and good customer relationships. Conduct and operational risks, such as cyber security breaches, data loss and IT systems failure, in particular have the potential to significantly impact our franchise value. Symbol: Climate Event Input: Potential risk Disruptions to operations and client services Actions to mitigate risk - We identify properties that we lease or own, which contain business processes and supporting applications that require enhanced facility infrastructure to mitigate site disruptions, such as those caused by extreme weather events. Symbol:	Not Climate Event
Input: Disappointingly, the vast majority of companies only make generic references to emerging risks when describing their risk management processes. They provide little insight into whether existing risk management processes were sufficient to identify emerging risks or whether they had to flex or amend these processes to do so. They give little information about how emerging risks, once identified, are treated and monitored. Symbol: Climate Event Input: IAG is exposed to multiple risks relating to the conduct of its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline those risks faced by IAG that have been identified in IAG's RMS:  strategic risk – the risk of not achieving corporate or strategic goals due to poor business decisions regarding future business plans and strategies and/or a lack of responsiveness to changes in the business environment; Symbol: Climate Event Input: Validation We established a common understanding between Toyota Motor Corporation (TMC) and all regions at the global meetings also based on the analyses conducted by overseas affiliates. We also engaged in dialogue with international organizations to validate the issues identified from perspectives outside of the company. The matrix was confirmed by relevant executives. Symbol: Climate Event Input: In addition, in June 2019 Gold Fields and global energy group, EDL, announced a A$112m investment in a world-leading energy microgrid, which combines wind, solar, gas and battery storage and will result in over 50% of Agnew’s energy requirements being supplied from renewable and low-carbon sources. The 23MW power station that integrates solar with gas and diesel was commissioned in November 2019, while construction of the five wind turbines was completed in February 2020 (p69). Symbol: Not Climate Event Input: 51 In February 2020, BlackRock made a charitable contribution of its 20% stake in PennyMac Financial Services, Inc. to the BlackRock Foundation, a newly established corporate foundation, and the BlackRock Charitable Fund, a donor- advised fund, which was established in 2013. Symbol: Climate Event Input: Over the past several years, changing weather patterns and climatic conditions, including as a result of global warming, have added to the unpredictability, frequency and severity of natural disasters and created additional uncertainty as to future trends and exposures. In particular, the consequences of climate change are expected to significantly impact the insurance industry, including with respect to risk perception, pricing and modeling assumptions, and need for new insurance products, all of which may create unforeseen risks not currently known to us. Symbol: Not Climate Event Input: Business Opportunities MUFG aims to contribute to environmental and social sustainability and help realize United Nations Sustainable Development Goals (SDGs) through financial services. We have committed to extending a total of ¥20 trillion for sustainable financing over a period spanning fiscal 2019 through fiscal 2030 (of this, ¥8 trillion will be used for environmental finance). In fiscal 2019, we made great progress, extending a total of ¥3.7 trillion. Symbol: Not Climate Event Input: Sustainability risks HSEC incidents or accidents may adversely affect our people or neighbouring communities, operations and reputation or licence to operate. The potential physical impacts and related responses to climate change may impact the value of our Company, and operations and markets. Given we operate in a challenging global environment straddling multiple jurisdictions, a breach of our governance processes may lead to regulatory penalties and loss of reputation. Symbol: Not Climate Event Input: In 2019, and continuing throughout 2020, we have rolled-out a comprehensive climate change training programme. In 2019 we published an internal briefing paper focused on climate change science facts, its geopolitical and macro- economical implications, as well as commercial impacts on companies. This provided the basis for a training session attended by over 200 staff in Head Quarters. This training has now been converted into an on-line course which has now been shared with local units to incorporate as part of their training programmes. Further training activities are currently being planned including additional awareness raising and specific topics on business opportunities. Symbol:	Not Climate Event
Input: 4. While Canadian financial regulations are considered to be best in kind, they may pose an obstacle for financial institutions in adapting to the fintech ecosystem. The study found that there is a growing disconnect between regulations and the latest technological advances. Current regulations make it difficult for Financial Firms to undertake the low-level, rapid experimentation required to develop safe, useful fintech products and services. Symbol: Climate Event Input: Disappointingly, the vast majority of companies only make generic references to emerging risks when describing their risk management processes. They provide little insight into whether existing risk management processes were sufficient to identify emerging risks or whether they had to flex or amend these processes to do so. They give little information about how emerging risks, once identified, are treated and monitored. Symbol: Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk, as it will not be in line with our vision and values. Symbol: Climate Event Input: Given the significant impact of this period of uncertainty on both Canadian businesses and companies and governments around the world, and the resulting volatility in financial markets, we expect to see significant effects on several of our financial statement line items and on our financial results in 2020. The timing and size of those impacts is not possible to forecast at this time. Symbol: Climate Event Input: Aiming to facilitate the creation of a sustainable society and realization of SDGs via its financial services, MUFG has committed to extending a total of ¥20 trillion for sustainable finance over a period spanning from fiscal 2019 to fiscal 2030 (of this, ¥8 trillion will be used for environmental finance). Symbol: Not Climate Event Input: We have made significant progress towards the goals we set out, including achieving our 100% Environmental, Social, and Governance integration goal for active strategies. For more detail on our progress, see 2020 sustainability actions. Symbol: Not Climate Event Input: Global energy demand has continued to be supported by conventional technologies and fossil resources, with energy intensity unable to be significantly reduced. Air pollution is one of the main issues facing large urban centres, but there are no structural changes allowing a substantial reduction in emissions. Many cities set restrictions on car traffic, not only because of environmental issues but also because of congestion, encouraging the emergence of a number of car-sharing and ride-hailing solutions, which partially replace public transport. Electric vehicles cannot be considered an alternative, because cities lack charging points and the batteries have an insufficient autonomy to handle urban traffic jams. Symbol: Not Climate Event Input: Climate Scenario Analysis: Using Software to Assess Our Resilience In 2018, we began developing a climate scenario analysis tool (CSAT) to help identify climate-related risks and quantify the impact they could have on airports we fly to. Symbol: Not Climate Event Input: - CaixaBank voluntarily applies this procedure to sy - ndicated operations with a term of 3 years or more and when CaixaBank's individual commitment is between $7 million and $35 million. Symbol:	Climate Event
Input: Risks are assessed at least annually. Please refer to Section 6.1 Our approach to risk management, 6.2 Risk categories and factors, 6.3 Strategic risks, 6.4 Operational risks, 6.5 Compliance risks, and 6.6 Financial risks. Symbol: Climate Event Input: In addition to its efforts to develop sustainable products and services, the Bank has identified opportunities to be greener in its operations. The actions we have taken to improve the energy efficiency of our buildings have enabled us to currently exceed regulatory requirements and meet the expectations of our stakeholders. Over the past 20 years, the Bank has voluntarily adopted various measures to considerably improve the energy efficiency of its buildings. As a member of the Energy Savers Circle of Hydro-Quebec (a public utility that manages the transmission and distribution of electricity in Quebec), the Bank has set up an innovative web-based interface to remotely manage energy use at over 100 of its branches. This system allows the Bank to oversee its facilities and make sure they meet energy efficiency goals, year after year. The Bank also implements the criteria for Leadership in Energy and Environmental Design (LEED) certification in its buildings and aims for LEED v4 Gold certification for its new head office to be completed in 2023. Among other things, this allows the Bank to reduce its Greenhouse gas emissions despite an increase in activities. Our Greenhouse gas emissions for 2019 have been calculated at 9,732 tonnes of CO2-down 16% compared to 2017. The Bank has renewed its commitment to carbon neutrality by buying carbon credits to offset emissions that can't be eliminated. This year, the Bank has set a target to reduce its Greenhouse gas emissions by 25% by 2025. This science-based target aims to help limit global warming to 1.5 C, the most ambitious goal of the Paris Agreement. Symbol: Not Climate Event Input: Dominion Energy is investing in strategic partnerships valued at $700 million to capture methane from hog-farming and dairy operations in seven states. With our partners — Smithfield Foods and Vanguard Renewables, and an alliance with the Dairy Farmers of America — we will process the methane from animal waste, and put it into the pipeline systems serving those states. This process captures methane emissions from waste ponds and reuses that methane in home heating, manufacturing, and more. Renewable natural gas is carbon-beneficial because it captures more emissions from the farms than are released when customers use the gas. Symbol: Not Climate Event Input: Business Risk Business risk describes the risk we assume due to potential changes in general business conditions, such as our market environment, client behavior and technological progress. This can affect our results if we fail to adjust quickly to these changing conditions. Business risk consists of strategic risk, tax risk and refinancing risk, of which only strategic risk is assessed as material. Symbol: Climate Event Input: - For the first time, in 2019 and with the help of external specialists, BNP Paribas performed an assessment, on a sample of clients in its portfolio, of physical risks covering the consequences of climate change (extreme weather events) on the assets of Group clients. Symbol: Not Climate Event Input: Identifying, quantifying and managing risk is complex and challenging. Although it is our policy and practice to identify and, where appropriate and practical, actively manage such risks to support objectives in managing capital and future financial security and flexibility, our policies and procedures may not adequately identify, monitor and quantify all risks. Symbol: Climate Event Input: IAG is exposed to multiple risks relating to the conduct of its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline those risks faced by IAG that have been identified in IAG's RMS:  strategic risk – the risk of not achieving corporate or strategic goals due to poor business decisions regarding future business plans and strategies and/or a lack of responsiveness to changes in the business environment; Symbol: Climate Event Input: Potential risk Disruptions to operations and client services Actions to mitigate risk - We identify properties that we lease or own, which contain business processes and supporting applications that require enhanced facility infrastructure to mitigate site disruptions, such as those caused by extreme weather events. Symbol: Not Climate Event Input: The process is continuous and dynamic and provides for the following sub-processes: (i) risk governance, methods and tools, (ii) risk strategy, (iii) integrated risk management, (iv) risk knowledge, training and communication. Symbol:	Climate Event
Input: Businesses subject to this policy and implementation methods In this document, section 4.3.1.3 (1) Financing and Investment Transactions Prohibited Regardless of Sector lists projects for which we prohibit any financing or investment. Symbol: Climate Event Input: Our generation capacity represents approximately 14 per cent of Australia's total NEM. We have a slightly lower proportion of coal than the NEM average and we continue to grow our share of wind and solar renewables. We have less hydro than the NEM average, reflecting the significance of the government-owned Snowy Hydro scheme. We also have a higher proportion of gas, which serves as more reliable, dispatchable ('firming') capacity for the market as coal is retired and renewable generation increases. Symbol: Not Climate Event Input: The Board of Directors has overall responsibility for ensuring that IAG has an appropriate risk management framework, including the determination of the nature and extent of risk it is willing to take to achieve its strategic objectives. The Board has oversight of the Group's operations to ensure that internal controls are in place and operate effectively. Management is responsible for the execution of the agreed plans. Symbol: Climate Event Input: – The Emu Downs Solar Farm is a 20MW solar farm, being built next to the Emu Downs Wind Farm site. Synergy, the Western Australian energy provider has entered into a 13-year offtake agreement for both the energy and the Large-scale Renewable Generation Certificates (LGCs), commencing January 2018. The estimated $50 million project will be partially funded with a $5.5 million grant from the Australian Renewable Energy Agency (ARENA). Symbol: Not Climate Event Input: Mizuho Bank (formerly Mizuho Corporate Bank) became the first Asian financial institution to adopt the Equator Principles in 2003. Since our adoption of the Equator Principles in October 2003, Mizuho Bank has remained actively engaged with the Equator Principles Association as a member of the Steering Committee, which consists of 10 international financial institutions. Mizuho Bank has also played a leadership role, serving as Chair of the Steering Committee, the first Asian bank to do so, from 2014 to 2015 and serving currently as regional representative for Asia & Oceania. Symbol: Not Climate Event Input: Reputation Risk: This is the risk of loss of credibility due to internal or external factors and is often related to, or results from, other categories of risk. This risk can arise from our internal business practices or those of our business partners or the companies in which we invest. Business partners include third parties hired to perform some of our administrative functions as well as investment organizations with which we have a contractual arrangement. A loss of reputation could impact our position as a partner, investor and employer of choice and impede our ability to execute our strategy. Symbol: Climate Event Input: R I S K - I N F O R M E D D E C I S I O N M A K I N G To achieve our business objectives and performance goals, we must ensure that our business strategies are aligned with the risks we face. Symbol: Climate Event Input: Environmental risk Environmental risk is the risk of loss to financial, operational or reputational value resulting from the impact of environmental issues. It arises from the business activities and operations of both us and our clients. For example, the environmental issues associated with our clients’ purchase and sale of contaminated property or development of large-scale projects may give rise to credit, regulatory and reputation risk. Operational and legal risks may arise from environmental issues at our branches, offices or data processing centres. Symbol: Not Climate Event Input: For example, in 2019 CN spent $0.9 billion on the acquisition of 154 efficient highhorsepower locomotives, as well as fuel conservation practices, such as locomotive shutdowns in yards, streamlined railcar handling, train pacing, coasting and braking strategies. Symbol:	Not Climate Event
Input: Two key reports were published in the 2020 nancial year, including a nance report and a science report which are available at: https://www.cmsi.org.au/reports - Climate-KIC Australia (Climate-KIC) - The Group has been working with Climate-KIC and a number of other organisations, including government agencies and industry bodies on an Adaptation Finance Project. Symbol: Not Climate Event Input: The Board of Directors has overall responsibility for ensuring that IAG has an appropriate risk management framework, including the determination of the nature and extent of risk it is willing to take to achieve its strategic objectives. The Board has oversight of the Group's operations to ensure that internal controls are in place and operate effectively. Management is responsible for the execution of the agreed plans. Symbol: Climate Event Input: An inclusive culture at 3M is built on our Be Respectful Principles - to respect the dignity and worth of individuals; encourage the initiative of each employee; challenge individual capabilities; and provide equal opportunity. Symbol: Climate Event Input: Since 2017, we have been advancing our capabilities in climate scenario analysis: In 2018, RBC and 15 other financial institutions participated in a United Nations-led project to develop and publish methodologies for assessing the impact of future climate scenarios on our clients and loan portfolios. Symbol: Not Climate Event Input: (changes in consumption behavior, failure of investments in new technologies, etc.), policy and regulatory system risks (tightening of regulations on greenhouse gas emissions, etc.), and reputational risks (criticism of industry, changes in consumer choices, etc.), which are associated with the transition to a low carbon society • Impacts could increase under the scenario of reductions in long-term increase in temperatures due to adequate climate change countermeasures, such as the development of new technologies and utilization of carbon recovery and storage technology • Decrease in corporate value of companies with inadequate responses to environmental change, including the introduction of carbon taxes, damage to assets due to market and social environment changes, development of new technologies, response to changes in consumer behavior, etc. Symbol: Not Climate Event Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: First microfinance deal in Bulgaria We carried out our first commitment to microfinance in Bulgaria, by guaranteeing up to EUR 700,000 of a EUR 5.1m microcredit portfolio for the JOBS Microfinance Institution. The estimated 320 loans will have a particular emphasis on enterprises created by young entrepreneurs, women, artisans and small-scale farmers. Symbol: Climate Event Input: We have made significant progress towards the goals we set out, including achieving our 100% Environmental, Social, and Governance integration goal for active strategies. For more detail on our progress, see 2020 sustainability actions. Symbol: Not Climate Event Input: The Audit Committee Charter states that the committee will 'discuss policies and procedures with respect to risk assessment and risk management, the company's major risk exposures, and the steps management has taken to monitor and mitigate such exposures.' The Vice President and General Auditor, Corporate Auditing, whose appointment and performance is reviewed and evaluated by the Audit Committee, is responsible for leading the formal risk assessment and management process within the company. Symbol:	Climate Event
Input: Paired with BlackRock's leadership in financial modeling and the power of Aladdin as a platform, Rhodium's data provides important new risk capabilities for our clients and for the industry.33 Aladdin Climate will power new Aladdin capabilities and add new risk metrics to BlackRock's modeling platform, and we will continue to extend our research across asset classes and geographies over time.34 Risks, opportunities & scenario analysis BlackRock recognizes the importance of effective identification, monitoring, and management of climate- related risks and opportunities across its global business. Symbol: Not Climate Event Input: The Bank will also use the scenarios and results from the 2021 BES to assess any vulnerabilities it may face on its own balance sheet. This will build on the work done to analyse the exposure of the Bank's investment portfolios to the risks from climate change, which are set out in Chapter 4. Symbol: Not Climate Event Input: Reflective of investor feedback, our Task Force on Climate-related Financial Disclosures Strategy is divided into three separable chapters to be commissioned over three years; Stage 1. Identify Key Material Risk. Stage 2. Assess climate change scenarios of key material risks. Stage 3. Define and disclose financial valuations associated to those risks. In FY18, Management completed Stage 1, and is now proceeding to Stage 2. Investa is pleased to work with the UN Environmental Programme Finance Initiative working group on establishing Task Force on Climate-related Financial Disclosures best practice reporting models. It is our intention to continue to gather investor and best practice feedback in Task Force on Climate-related Financial Disclosures reporting on an ongoing basis. Symbol: Not Climate Event Input: R I S K - I N F O R M E D D E C I S I O N M A K I N G To achieve our business objectives and performance goals, we must ensure that our business strategies are aligned with the risks we face. Symbol: Climate Event Input: Climate change means climate risk, not only physical risk but also transition risk – the risk associated with economic impacts of the transition to a low carbon economy. Future social developments, climate policy developments and technology developments are subject to high uncertainty, and these factors have a major impact on greenhouse gas emissions. There is also significant uncertainty with regard to how sensitive the climate system is to changes in greenhouse gas emissions, and uncertainty with regard to the effects of a given level of warming. Symbol: Not Climate Event Input: Ultimately, sustainable growth is also about culture and tone from the top. Leaders across the bank promote our efforts, articulate its importance and champion the work needed to deliver sustainable growth well into the future. Symbol: Climate Event Input: Reputational risk In 2019 and in recent years, there has continued to be a range of material risk events such as service outages and data compromises in the market. These impact the reputation of the financial services industry as a whole and potentially threaten consumer confidence in both the reliability of services and the safety of their data and savings. Symbol: Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk and accepting that it is not in line with our vision and values. Symbol: Climate Event Input: The PJM average emissions rate has declined from 1,092 lbs/MWh in 20125 to 851 lbs/MWh in 2019 (22% reduction).5 We continue to make improvements to our existing plants to make them more fuel-efficient, and our recent investments in Keys Energy Center (Maryland), Sewaren 7 (New Jersey) and Bridgeport Harbor Station Unit 5 (Connecticut) further advance our overall efficiency. Symbol:	Not Climate Event
Input: Our capital expenditure programme is focused on maintaining and improving our assets and services, ensuring we can deal with growth, and on meeting water quality and environmental standards. In AMP6, we completed a £2.2 billion programme of investment, delivered by our alliance partners, which will help provide our services until 2030. Symbol: Not Climate Event Input: We have already achieved our 2020 operational target set in 2010 by reducing our carbon emissions by 66% and we have a long-term reduction target of 70% by 2030. Now, 67% of electricity used by our global operations is from renewable resources and we are committed to using 100% renewable electricity by 2025 (aligned to the RE100 commitment). Across the UK, more than 400 employees have signed up to our car share programme and there are 180 active car sharing groups. We have also introduced twenty electric vehicle charging points at eight UK office locations and moved 30% of our car fleet to hybrid. More details of this analysis can be found on www.aviva.com/social- purpose. Symbol: Not Climate Event Input: Because our electric grid will continue to rely on high-voltage and lower-voltage power lines, we expect to invest about $800 million annually for the foreseeable future to build new transmission infrastructure, replace more than 2,000 miles of high-voltage transmission lines, and upgrade physical security at substations. The rebuilds will increase the capacity on our transmission lines, which in part enhances our ability to transport more renewable energy. Symbol: Not Climate Event Input: CORPORATE AND HOUSEHOLD DEBT 25 carried out a benchmark study of the banks’ calculated risk weights for exposures to commercial real estate. The results of the two analyses showed that there is a risk that the capital banks have earmarked for lending to commercial real estate will not sufficiently compensate for the credit losses that could arise following a severe financial stress. It is against this background that FI proposes higher capital requirements for lending to commercial real estate (see “Stability in the banking sector”). Symbol: Climate Event Input: In terms of piloting, we are analysing CIB listed companies sub-portfolio data (about 30 percent of the total in terms of EAD of given portfolio) while for remaining companies we are applying proxies based on sector and size of the company. Symbol: Climate Event Input: We meet the financing needs of our customers with a broad and modern product range. The focus of the portfolio is on traditional owner-occupied home financing and the financing of real estate capital investments (residential mortgage loans and investment properties with a total EaD of €61bn). We provide our business customers with credit in the form of individual loans with a volume of €14bn. In addition, we meet our customers’ day-to-day demand for credit with consumer loans (consumer and instalment loans, credit cards to a total of €10bn). Symbol: Climate Event Input: IAG is exposed to multiple risks relating to the conduct of its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline those risks faced by IAG that have been identified in IAG's RMS:  strategic risk – the risk of not achieving corporate or strategic goals due to poor business decisions regarding future business plans and strategies and/or a lack of responsiveness to changes in the business environment; Symbol: Climate Event Input: Climate change is a long-term risk associated with high uncertainty regarding timing, scope and severity of potential impacts. The risks for insurers can be grouped into physical risks and transition risks. Physical risks relate to losses from climate trends (i.e. changing weather patterns and sea level rise) and climate events (i.e. extreme weather and natural disasters). These physical risks impact property & casualty (P&C) insurance, but also life insurance, for instance through higher than expected mortality rates. Losses can also follow from credit risk and collateral linked to the mortgage portfolio. Aegon is exposed to mortality risk and mortgage underwriting risks and has limited exposure to P&C risk, including catastrophic risk. Beyond insured losses from physical climate damages, climate change can increase uninsured damages and losses and may have disrupting and cascading effects on the wider economy and across the financial system. The second category of risks is associated with the transition to a low-carbon economy. These transition risks can affect the value of assets and impact the investments portfolios of insurers. Furthermore, it cannot be ruled out that Aegon itself is unable to adjust to environmental and sustainability goals. The transition risks are determined by largely uncertain factors such as policy and regulatory changes, political, social and market dynamics and technological innovations. Linked to both the physical and the transition risks, there could be litigation and reputational risks following from not fully considering or responding to the impacts of climate change, or not providing appropriate disclosure of current and future risks. The risks can relate both to Aegon and the companies in which it invests. Symbol: Not Climate Event Input: One of our We Mean Business commitments was to set a science-based emissions target independently approved by the Science- Based Target initiative (SBTi), and in 2017, we became the first company in Australia to do so. To date, we remain the only company in the Australian energy sector to have validated and approved science-based targets. Our targets cover not only Scope 1 and Scope 2 emissions but also Scope 3 emissions. We have also long supported a net-zero emissions target for the electricity sector by 2050 or earlier. Symbol:	Not Climate Event
Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: Limited transportation infrastructure risks The profitability of Equinor’s oil and gas production in a remote area may be affected by an infrastructure constraint Equinor's ability to commercially exploit discovered petroleum resources will depend, among other factors, on infrastructure to transport oil and gas to potential buyers at a commercial price. Oil is transported by vessels, rail or pipelines to refineries, and natural gas by pipeline or vessels (for liquefied natural gas) to processing plants and end users. Equinor may be unsuccessful in its efforts to secure transportation and markets for all its potential production. Symbol: Not Climate Event Input: In the case of substantial risks at sector level in the field of corporate and project financing, the reporting chain is as follows: Similar mechanisms exist for banking risks, country risks, market price risks and operational risks. Symbol: Climate Event Input: Thus, the Board of Directors, upon recommendation of its Compensation & Governance Committee, and following a comparative review of national, European and industry practices, decided to maintain unchanged, for 2018, the Chief Executive Off icer’s target annual variable compensation, at €1.45 million, i.e. 100% of the amount of his annual fixed compensation. Symbol: Climate Event Input: In Jordan, we arranged $207.5 million for a solar-power project — the largest private sector–led solar initiative in the Middle East and North Africa. Of that amount, $116 million was mobilized from other lenders. Under the project, seven solar photovoltaic plants will be built, cutting carbon emissions and providing 102 megawatts of power. Symbol: Not Climate Event Input: Since 2016 we have also been working with the Australian Bureau of Meteorology (BOM), using their mapping to identify parts of Australia with low rainfall and those areas more likely to experience rainfall variation. (Fig 1 - Rainfall Annual 30-year average (1986-2015)). When customers purchase properties in these areas, we test their financial resilience to climatic events like rainfall variation and drought. Customers with lower resilience may be subject to enhanced underwriting standards, for example, loan approval may be dependent on a lower loan to valuation ratio, higher repayments, or evidence of savings or equity. Our bankers also need to document the customer's knowledge of recent rainfall and climate trends where their farm is located and, if relevant, how they manage water budgets for irrigation. Symbol: Not Climate Event Input:  For asset management companies belonging to a Group (most of the tested sample), inadequate internal supervision of the services (relating to IT, cybersecurity and business continuity) performed by the parent company was identified. But the technical execution of these services by the Group cannot exempt asset management companies from their responsibilities regarding the definition (in priority) of the main risk areas and management of the relevant controls. Symbol: Climate Event Input: Failure to comply and adapt to climate related matters is also a significant reputation risk which could result in e.g. lack of tenant interest, higher cost of capital in the financial market, and lack of ability to attract or retain talent. Also, not handling the company’s corporate social responsibilities in an informed and good matter is a reputation risk, whereas the opposite is an opportunity. Symbol: Not Climate Event Input: Offsetting our Greenhouse gas emissions In addition to continuously investing in projects that mitigate our impact on climate change, in 2015 we launched the Itau Unibanco's Greenhouse Gas (GHG) Emissions Offset Program. Symbol:	Not Climate Event
Input: In May 2020, BBVA was the first private financial institution in Europe to issue a COVID-19-related social bond and, two months later, the Bank was the first financial institution to issue contingent convertible perpetual bonds (CoCos) classified as green bonds, for EUR 1 billion. The funds will be used to finance eligible green assets in BBVA's portfolio. The portfolio is diversified into assets from different green sectors: energy efficiency, renewable energy, sustainable transportation, waste management and water management. Symbol: Not Climate Event Input: Initiatives to mitigate or respond to adverse impacts of climate change may impact market and asset prices, economic activity, and customer behaviour, particularly in geographic locations and industry sectors adversely affected by these changes. Failure to effectively manage these transition risks could adversely affect our business, prospects, reputation, financial performance or financial condition. Symbol: Not Climate Event Input: If Philips is unable to ensure effective supply chain management, e.g. facing an interruption of its supply chain, including the inability of third parties to deliver parts, components and services on time, and if it is subject to rising raw material prices, it may be unable to sustain its competitiveness in its markets. Symbol: Climate Event Input: The new index was built in three stages: - Firstly, Controversial Weapons Manufacturers were excluded from the universe of stocks that make up the FTSE All World Index universe, as the Trustee has a financial preference for avoiding such stocks where possible. - Secondly, a four-factor index was created (Value, Quality, Low Volatility and Low Size) that rebalances regularly through time to create a 'Balanced Factor' index with more attractive risk-return characteristics than the standard market capitalisation index. - Finally, three climate-related tilts were applied to the 'Balanced Factor' index to create a 'Climate Balanced Factor' index. The FTSE All World (ex CW) Climate Balanced Factor Index tilts away from Carbon Reserves and Carbon Emissions, whilst positively tilting towards Green Revenues. The tilts are set such that the inclusion of the climate-related tilts introduces a relatively modest tracking error compared to the Balanced Factor index without climate tilts. This allowed the Trustee to conclude that the new index was consistent with its fiduciary duty and provided an element of Climate Change protection. Symbol: Not Climate Event Input: Scope 3 Data Centres Scope 3 Data Centres Greenhouse Gas Emissions (Australia operations) relate to the electricity and diesel Greenhouse Gas Emissions consumption in our Australian data centres not under our operational control as defined under NGER. CBA has (Australia operations) not had operational control of any data centres since FY18. Source of emissions factors: NGA (2018). Symbol: Not Climate Event Input: The investment horizon is between 3 and 15 years, because shorter investment horizons than this risk creating restrictions in the management, which can lead to poorer earnings, in part due to lower liquidity. Evaluation is over a rolling five-year period and the outcome of individual years should be interpreted with caution since strategic positions are taken in the medium term. Symbol: Climate Event Input: £3 billion (20 per cent) of the Group’s revenue and our customer facing channels to market are mentioned on page 24. Additional technology investments are aimed at improving execution and efficiency in all areas of our business from warehousing, fleet, inventory and customer relationship management to back-office human resources and financial management and reporting systems. Symbol: Climate Event Input: This strategic plan is based on a number of assumptions, in particular relating to the macroeconomic environment and the development of activities. Failure to achieve these objectives or the occurrence of unexpected events could compromise the achievement of the strategic plan and have a material adverse effect on the Group's business, results of operations and financial position. Symbol: Climate Event Input: BlackRock's public policy efforts primarily focus on advocating for the Sustainability Accounting Standards Board and Task Force on Climate-related Financial Disclosures frameworks in support of consistent reporting standards for corporate issuers. In 2020, BlackRock provided comments in support of several policy efforts to encourage Task Force on Climate-related Financial Disclosures reporting. For example, we responded to the UK Financial Conduct Authority ('FCA') proposal to apply the Task Force on Climate-related Financial Disclosures framework to UK publicly listed issuers.57 We welcomed the subsequent announcement by the UK Government to introduce mandatory Task Force on Climate-related Financial Disclosures reporting by 2025. In our response to the FCA, we advocated for mandatory reporting on all publicly listed companies from 2021. We also submitted comments to the UK Department for Work and Pensions regarding proposed mandatory Task Force on Climate-related Financial Disclosures Reporting for large occupational pension schemes.58 Symbol:	Not Climate Event
Input: In addition, to the physical risks mentioned previously, rising temperatures could cause an increase in our operation and maintenance costs. Rising temperatures are associated to the reduction of the cycle efficiency of our turbines, a reduction of efficiency in solar photovoltaic modules, lower efficiency in wind facilities and higher consumption of chemicals used for operational purposes in our desalination plants, among others. Symbol: Not Climate Event Input: At the announcement of the business plan for the fiscal year ending March 31, 2020, as for investments and loans, we are setting the target at ¥2.1 trillion, which is within the three-year cumulative range announced already, and there is no change to our forecasts for asset recycling and shareholder returns. Symbol: Climate Event Input: The investment horizon is between 3 and 15 years, because shorter investment horizons than this risk creating restrictions in the management, which can lead to poorer earnings, in part due to lower liquidity. Evaluation is over a rolling five-year period and the outcome of individual years should be interpreted with caution since strategic positions are taken in the medium term. Symbol: Climate Event Input: We plan on aiding economic development efforts in the Carolinas by keeping electric and gas bills affordable and by working with current and prospective employers to show them how we can provide them with on-demand energy. And through philanthropic giving, which will increase SCANA’s community giving by $1 million per year over the next five years, we expect to focus on education, environmental stewardship and community needs. Symbol: Not Climate Event Input: Compliance Risk Management Compliance risk (a type of operational risk) is the risk resulting from the failure to comply with laws (legislation, regulations and rules) and regulatory guidance, and the failure to appropriately address associated impacts, including to customers. Compliance risk encompasses violations of applicable internal policies, program requirements, procedures, and standards related to ethical principles applicable to the banking industry. Symbol: Climate Event Input: The impact of climate change may over time affect the operations of the Group and the markets in which the Group operates. This could include physical risks such as acute and chronic changes in weather and/or transitional risks such as technological development, policy and regulatory change, and market and economic responses. Efforts to address climate change through laws and regulations, for example by requiring reductions in emissions of GHGs such as CO2, can create economic risks and uncertainties for the Group’s businesses. Such risks could include the cost of purchasing allowances or credits to meet GHG emissions caps, the cost of installing equipment to reduce emissions to comply with GHG limits or required technological standards, decreased profits or losses arising from decreased demand for the Group’s goods and higher production costs resulting directly or indirectly from the imposition of legislative or regulatory controls. Manifestation of these increased costs may increase the underlying cost of production of the Group’s products which may adversely impact the financial performance of the Group. Symbol: Not Climate Event Input: – The Emu Downs Solar Farm is a 20MW solar farm, being built next to the Emu Downs Wind Farm site. Synergy, the Western Australian energy provider has entered into a 13-year offtake agreement for both the energy and the Large-scale Renewable Generation Certificates (LGCs), commencing January 2018. The estimated $50 million project will be partially funded with a $5.5 million grant from the Australian Renewable Energy Agency (ARENA). Symbol: Not Climate Event Input: Reputation: In managing our reputation we seek to avoid the loss of credibility due to internal or external factors. Many types of risk have the potential to negatively impact our corporate reputation. Internal business practices, or those of our business partners or the companies in which we invest, may generate reputation harm. Consequences include diminished brand efficacy in commercial markets, impeding our ability to execute our strategy and our status as investor, partner and employer of choice. Symbol: Climate Event Input: In the 2019 nancial year, the Group announced two portfolio transition commitments: - Supporting current coal-red power generation customers implementing transition pathways aligned with Paris Agreement goals of 45% reduction in emissions by 2030 and net zero emissions by 2050. Symbol:	Not Climate Event
Input: Growing concerns over air quality, road safety, sustainability and urban congestion, among consumers and society at large, are driving the regulations and policies for motor vehicles and urban development. These will impact choice of fuel, ownership patterns and will have a signicant impact on the future of the automotive industry. Symbol: Not Climate Event Input: IAG is committed to be the leading airline group in sustainability. This means that environmental considerations are integrated into the business strategy at every level and the Group uses its influence to drive progress across the industry. • IAG Climate Change strategy to meet target of net zero carbon emissions by 2050. • British Airways plans to offset UK domestic flight carbon emissions from 2020. • Fleet replacement plan introducing aircraft into the fleet that are up to 40 per cent more carbon efficient. • IAG investment in sustainable aviation fuels of $400 million in the next 20 years, including British Airways’ partnership with Velocys. • Management incentives under development to align to IAG’s new targets. • Partnering with Mosaic Materials to explore carbon capture technology. • Participating in CORSIA, the ICAO global aviation carbon offsetting scheme. Symbol: Not Climate Event Input: Identifying, quantifying and managing risk is complex and challenging. Although it is our policy and practice to identify and, where appropriate and practical, actively manage such risks to support objectives in managing capital and future financial security and flexibility, our policies and procedures may not adequately identify, monitor and quantify all risks. Symbol: Climate Event Input: Physical damage may arise with more frequency due to extreme weather events. This includes damage to equipment such as turbine blades and transmission infrastructure, as well as access roads, which impact operational performance. Risks also include long-term changes to weather patterns causing material change to an asset’s energy yield from that expected at the time of investment. Symbol: Not Climate Event Input: DRAFT 1 d4a Changing regulatory requirements AnnualReport- We take our regulatory obligations seriously and manage non-compliance with regulatory requirements as a risk, with supporting risk appetite statements set by the Board. Symbol: Climate Event Input: International political, social and economic risks Equinor has international interests located in regions where political, social and economic instability could adversely affect Equinor’s business. Equinor has assets and operations located in diverse regions globally where potentially negative economic, social, and political developments could occur. These political risks and security threats require continuous monitoring. Uncertainty exists around the UK`s exit from the EU and the potential market impact. Symbol: Climate Event Input: Four years ago, we began to significantly increase our exposure to the credit asset class which now stands at $18.3 billion at the end of 2019. We believe that rotating capital away from low-yielding, long-dated government bonds into higher-yielding credit investments provides for a better return on risk in the current low interest rate environment. Symbol: Climate Event Input: Upton 2 — We have completed the construction of our first battery energy storage system (ESS). In October 2018, we were awarded a $1 million grant from the TCEQ for our battery ESS at our Upton 2 solar facility. The grant is part of the Texas Emissions Reduction Plan. The 10 MW lithium-ion ESS captures excess solar energy produced during the day and releases the energy in late afternoon and early evening, when demand is highest. The Upton 2 battery ESS became operational in December 2018. Symbol: Not Climate Event Input: 4.3.4 Methods of stakeholder engagement are flexible and can be tailored according to different objectives. They may include surveys, meetings, written communication or any other channels, depending on the types of stakeholders. Given the areas of concerns and expectations may change over time, engagement should be an iterative process. Symbol:	Climate Event
Input: BBVA is focusing on increasing its activity in telecommunications infrastructures, given the social importance they have as facilitators of access to new technologies ('narrowing the digital divide'), digitization and contribution to economic development: ADAMO: Acquisition by the Swedish fund EQT of the fastest growing independent fiber supplier in Spain, whose main focus is rural communities. Symbol: Climate Event Input: The investment horizon is between 3 and 15 years, because shorter investment horizons than this risk creating restrictions in the management, which can lead to poorer earnings, in part due to lower liquidity. Evaluation is over a rolling five-year period and the outcome of individual years should be interpreted with caution since strategic positions are taken in the medium term. Symbol: Climate Event Input: We require all potential projects to be assessed for carbon intensity and emission reduction opportunities, at every decision phase – from exploration and business development to project development and operations. Furthermore, we require all projects to include a carbon price of at least USD 55 per tonne, to be resilient towards expected higher carbon taxes. Symbol: Not Climate Event Input: 4.3.4 Methods of stakeholder engagement are flexible and can be tailored according to different objectives. They may include surveys, meetings, written communication or any other channels, depending on the types of stakeholders. Given the areas of concerns and expectations may change over time, engagement should be an iterative process. Symbol: Climate Event Input: JPMorgan Chase is committed to reporting on our approach to and performance on a range of environmental and social issues. Our annual Environmental, Social, and Governance Report is one of the principal channels through which we discuss how we are addressing Environmental, Social, and Governance matters that we and our stakeholders view as among the most important to our business. We also strive to support industry-led efforts related to Environmental, Social, and Governance disclosure, such as through our participation on the TCFD. https://am.jpmorgan.com/blob-gim/1383499229069/83456/2018-Global%20Procedures%20and%20Guidelines-FINAL.pdf https://am.jpmorgan.com/blob-gim/1383499229069/83456/2018-Global%20Procedures%20and%20Guidelines-FINAL.pdf Symbol: Not Climate Event Input: In the short-term, the water management strategic objectives for 2020 comprise: - Maintaining security of supply - Effectively managing water at our operations - Applying transparent corporate water governance - Adopting a catchment approach to water management During 2019, Gold Fields spent US$27m on water management by investing in methods to improve our water management practices, including pollution prevention, recycling and water conservation initiatives. Symbol: Not Climate Event Input: Mobilizing private and institutional capital: We mobilize capital to support environmental and social issues, including the transition to a low carbon economy. For example: - We offer 100% sustainable discretionary mandates and asset allocation funds based on our new dedicated SI Strategic Asset Allocation for private clients in Global Wealth Management (GWM). - Our GWM in collaboration with AM is developing a range of new thematic and pooled impact investments. - Our GWM has committed to integrating Environmental, Social, and Governance assess- ments, including a dedicated climate dimension, into all fund and ETF onboardings. - We have set a target of directing USD 5 billion of client assets into new impact investments for the Sustainable Development Goals by end of 2021. These investments include a significant climate component. - We participated in launching Align17 - a WEF Young Global Leaders initiative - an independent, third-party digital marketplace, which stands out in connecting a wider range of public, institutional, and private wealth investors with SDG-related investment opportunities. - Our AM and GWM businesses have in place a comprehen- sive approach to environmental and social factors and to corporate governance across investment disciplines. The 2018 GRESB (Global Real Estate Sustainability Benchmark) awarded ten of AM's real estate and infra- structure funds 5 - star ratings, and seven funds ranked first in their respective peer groups. Symbol: Not Climate Event Input: Thus, the Board of Directors, upon recommendation of its Compensation & Governance Committee, and following a comparative review of national, European and industry practices, decided to maintain unchanged, for 2018, the Chief Executive Off icer’s target annual variable compensation, at €1.45 million, i.e. 100% of the amount of his annual fixed compensation. Symbol: Climate Event Input: The ERMC is supported by multiple committees, including the Corporate Responsibility & Reputation Committee (CRRC), Corporate Credit, Operational Risk, Management Compliance, and Asset/Liability. The CRRC is responsible for providing oversight and review of policies, programs, practices, and strategies that refect the company's core values and impact our reputation. It is also responsible for overseeing the identifcation and mitigation of top reputation risk issues and negative public perceptions. The CRRC charter explicitly includes environmental matters, including climate change. The CRRC includes the following roles: the Chief Communications and Reputation Ofcer, the Chief Enterprise Responsibility Ofcer, the Environmental Sustainability Director, Chief Ethics Ofcer, the Deputy General Counsel, and many others. Additional corporate policies and processes help identify, assess, and manage risk, including a new products and services risk assessment, self- identifed issues management program, reputation risk councils, vendor due diligence, and credit risk review. Symbol:	Not Climate Event
Input: Debut EBRD green covered bond investment The EBRD invested the Polish zloty equivalent of €11.7 million in the issuance by Poland’s PKO Bank Hipoteczny of green covered bonds. They will help the mortgage bank to finance residential buildings that reduce greenhouse gas emissions, fund green mortgages and diversify its investor base. The project also promotes capital market development in Poland. A second investment for the same amount was made later in 2019. Symbol: Not Climate Event Input: Investors are seeking a better understanding of how climate change may impact the company’s business over the short, medium and long term. They also want to know about the company’s planned response, including how it may need to change its strategy. However, according to EY’s July 2020 report ‘How will ESG performance shape your future?’, based on a global institutional investor survey, companies are failing to meet investors’ expectations on environmental, social and governance factors when compared with 2018. Symbol: Not Climate Event Input: Should there be any local special conditions that are not sufficiently addressed by the group or parent strategy, the AI should either raise them with the group or parent for a possible solution or address them locally. In this regard, communication channels should be in place to facilitate the process. Symbol: Climate Event Input: Risks to the Group’s reputation Risks include acts or omissions by the Group or any of its employees that could damage the Group’s reputation or lead to a loss of trust among its stakeholders. Every risk type has potential consequences for Zurich’s reputation. Effectively managing each type of risk helps reduce such threats. Symbol: Climate Event Input: In addition to e-learning modules on sectoral policies, available in eight languages, 12 interactive sessions (including methodology reviews and case studies) were organised to help employees improve their understanding and grasp of existing tools. Symbol: Climate Event Input: Risks—Transition Risks and Physical Risks Clients to whom MUFG has provided credits may be exposed to risks arising in the course of the transition to a low-carbon society, such as stricter regulation and the introduction of low-carbon technologies (transition risks). They can also be exposed to risks arising from physical damage due to the growing occurrences of climate change-induced natural disasters and abnormal weather (physical risks). If these risks were to impact the clients’ businesses or financial conditions, MUFG’s credit portfolio would also be exposed to substantial risks. Symbol: Not Climate Event Input: Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. Symbol: Climate Event Input: Net CO2 emissions (kg per ton of cementitious material) Net CO2 emissions are CO2 emissions from the calcination process of the raw materials and the combustion of traditional kiln and non-kiln fuels. Cementitious materials refer to clinker production volumes, mineral components consumed in cement production and mineral components processed and sold externally. Symbol: Not Climate Event Input: BNP Paribas seizes climate-related opportunities with corporate clients The Group acted on the following climate-related opportunities in the corporate clients segment in 2019: - Renewable energy financing reached $15.9 bil- lion. Symbol:	Not Climate Event
Input: The engagement is driving improved conversations with our customers about climate change risks, allowing us to make more informed lending decisions and policies. Over time we expect more of our customers to report on their transition plans. We also intend for discussions on climate-related risks and opportunities to become part of regular discussions with all Institutional and corporate customers. Symbol: Not Climate Event Input: In 2019, Bankinter committed to including the Task Force on Climate-related Financial Disclosures recommendations in its business model and drew up a road map for this purpose. Further, a sustainable finances work group was created to address future EU regulatory requirements. Symbol: Not Climate Event Input: We have devoted significant resources to develop our risk management capabilities and expect to continue to do so in the future. Nonetheless, our risk management strategies, models and processes, including our use of various risk models for assessing market exposures and hedging strategies, stress testing and other analysis, may not be fully effective in mitigating our risk exposure in all market environments or against all types of risk, including risks that are unidentified or unanticipated. Symbol: Climate Event Input: As members of the British Venture Capital Association ('BVCA'), we have held a role on the BVCA's Responsible Investment Advisory Group ('RIAG') since 2017. Our Director, George Potts, was appointed its Chair in 2019. As part of this role, we are engaged in the provision of advice, technical guidance and expertise to the 700+ members of the BVCA - often through consultations on public policy matters, regularly involving climate. Symbol: Not Climate Event Input: In addi- tion, analyses of various trends will be performed periodi- cally in the future in order to revise assessments and disclose information on risks and opportunities related to other areas. Symbol: Climate Event Input: In developing our scenario analysis, we used internal data sets and assumptions made in our existing business models. We considered the views of departments across the business to better understand risks and time horizons. We also took the time to consider impacts and dependencies. This helped us to report on the risks and opportunities that are most material to our organization. Symbol: Climate Event Input: At the beginning of 2019, VINCI Airports signed a memorandum of understanding with the Portuguese government to extend Lisbon’s airport capacity. It provides for upgrading the existing Humberto Delgado Airport and building a new civil airport on the Montijo Air base opposite the city at the eastern end of the Tagus estuary. VINCI Airports will invest €1.15 billion over the next 10 years in this two-pronged project. Symbol: Climate Event Input: Sustainable resources and climate change In 2015 the EBRD pledged its commitment to successful implementation of the historic agreement on fighting global warming adopted by more than 190 countries at the UN climate conference in Paris. With its Green Economy Transition (GET) approach, approved by the Board in September 2015 and due for rollout in 2016, the EBRD aims to raise the level of environmental investment to 40 per cent of its total financing by 2020. This would correspond to a GET investment of €18 billion over the period 2016-20 and bring a major contribution to efforts by the Bank’s countries of investment to move towards a low carbon economy, in line with the Paris accord. Symbol: Not Climate Event Input: BMO's Chief Risk Officer (CRO) reports directly to the CEO and is head of Enterprise Risk and Portfolio Management and chair of the Risk Management Committee (RMC). The CRO is responsible for providing independent review and oversight of enterprise-wide risks and leadership on risk issues, developing and maintaining a risk management framework and fostering a strong risk culture across the organization. ERPM provides risk management oversight, supporting a disciplined approach to risk-taking for independent transaction approval and portfolio management, policy formulation, risk reporting, stress testing, modelling and risk education. ERPM is responsible for conducting climate change scenario analysis to identify potential risks in BMO's lending portfolio. Symbol:	Not Climate Event
Input: At the beginning of 2019, VINCI Airports signed a memorandum of understanding with the Portuguese government to extend Lisbon’s airport capacity. It provides for upgrading the existing Humberto Delgado Airport and building a new civil airport on the Montijo Air base opposite the city at the eastern end of the Tagus estuary. VINCI Airports will invest €1.15 billion over the next 10 years in this two-pronged project. Symbol: Climate Event Input: In addition to the carbon risk scenario analysis, S&P Global took steps to further explore the risks and opportunities presented above to assess and plan for a range of potential scenarios. The CFO convened a Scenario Discussion Workshop where members of senior leadership discussed the Company's current state, considered possible future scenarios, identified different risks and opportunities within these scenarios, and discussed the financial implication of these impacts on the Company. Symbol: Not Climate Event Input: Importance Global warming is causing major changes to our environment. Climate change looks to be increasing the frequency and intensity of extreme weather events such as heat waves, droughts, floods and tropical cyclones, damaging critical infrastructure and interrupting the provision of basic services such as food, water, sanitation, education, energy and transport. Symbol: Not Climate Event Input: Risks to the Group’s reputation Risks include acts or omissions by the Group or any of its employees that could damage the Group’s reputation or lead to a loss of trust among its stakeholders. Every risk type has potential consequences for Zurich’s reputation. Effectively managing each type of risk helps reduce such threats. Symbol: Climate Event Input: Identifying, quantifying and managing risk is complex and challenging. Although it is our policy and practice to identify and, where appropriate and practical, actively manage such risks to support objectives in managing capital and future financial security and flexibility, our policies and procedures may not adequately identify, monitor and quantify all risks. Symbol: Climate Event Input: We may be subject to unionization, work stoppages, slowdowns or increased labor costs and the unionization of the Company’s pilots and inflight crewmembers could result in increased labor costs. Our business is labor intensive and the unionization of any of our crewmembers could result in demands that may increase our operating expenses and adversely affect our financial condition and results of operations. Any of the different crafts or classes of our crewmembers could unionize at any time, which would require us to negotiate in good faith with the crewmember group’s certified representative concerning a collective bargaining agreement. In addition, we may be subject to disruptions by unions protesting the non-union status of our other crewmembers. Any of these events would be disruptive to our operations and could harm our business. Symbol: Climate Event Input: We have developed a Climate Policy Position Statement which outlines our role in limiting climate change to well below two degrees and the way in which we will support the transition to a net zero emissions economy by 2050. This includes undertaking a climate scenario analysis and setting a $15 billion target for financing low carbon projects by 2025. Symbol: Not Climate Event Input: In Pakistan, where millions remain cut off from the national grid, we invested $125 million in China Three Gorges South Asia to support a series of privately owned hydro, solar, and wind projects. Once operational, they are expected to provide electricity to more than 11 million people and boost the country’s generation capacity by 15 percent. Symbol: Not Climate Event Input: At the Telefonica, S.A. Group, the strategy includes adaptation measures relating to physical and transitional changes. The main measures include the Business Continuity Plan for Climate Disasters and the Energy Efficiency and Renewable Energy Plan. Symbol:	Not Climate Event
Input: The enterprise risks were categorized as an external, operational or strategic risk. External risks emerge from outside the organization, operational risks arise from within the organization, and strategic risks are associated with our strategic initiatives. The identified risks can significantly affect the Association’s finance, relevancy and reputation if mitigations are not in place. Symbol: Climate Event Input: In an effort to reduce the amount of CO2 emissions produced by our company, we are promoting investments in energy-efficiency, operational improvements, and energy-saving activities undertaken by all our employees. In FY 2018, we made energy-efficiency related investments of approximately 300 million yen (based on our company's Environmental Accounting Guideline). With this, we improved productivity by updating and automating production equipment and realized greater efficiency by updating major equipment such as lights, pumps, air conditioning and transformers. Symbol: Not Climate Event Input: Regulatory developments Globalization affects the insurance industry as well as its customers. Although many of today’s risks are globally interconnected and the largest insurers operate globally, insurance regulation is still mainly focused on national markets. From a global perspective, the regulatory framework is fragmented. This threatens the efficient use of capital and makes it harder for global insurers to fulfil their potential as bearers of risk. As a global insurer, Zurich advocates a consolidated group-wide approach to regulation, such as the International Association of Insurance Supervisors’ Common Framework for the Supervision of Internationally Active Insurance Groups initiative. Symbol: Climate Event Input: IFC expands the availability of such technologies by channeling investments toward private companies that build modern communications infrastructure and information-technology businesses. In FY18, we invested $376 million in initiatives related to technology, including funds mobilized from other investors — expanding our portfolio in this sector to more than $2.4 billion. Symbol: Climate Event Input: The new index was built in three stages: - Firstly, Controversial Weapons Manufacturers were excluded from the universe of stocks that make up the FTSE All World Index universe, as the Trustee has a financial preference for avoiding such stocks where possible. - Secondly, a four-factor index was created (Value, Quality, Low Volatility and Low Size) that rebalances regularly through time to create a 'Balanced Factor' index with more attractive risk-return characteristics than the standard market capitalisation index. - Finally, three climate-related tilts were applied to the 'Balanced Factor' index to create a 'Climate Balanced Factor' index. The FTSE All World (ex CW) Climate Balanced Factor Index tilts away from Carbon Reserves and Carbon Emissions, whilst positively tilting towards Green Revenues. The tilts are set such that the inclusion of the climate-related tilts introduces a relatively modest tracking error compared to the Balanced Factor index without climate tilts. This allowed the Trustee to conclude that the new index was consistent with its fiduciary duty and provided an element of Climate Change protection. Symbol: Not Climate Event Input: Business Risk Business risk describes the risk we assume due to potential changes in general business conditions, such as our market environment, client behavior and technological progress. This can affect our results if we fail to adjust quickly to these changing conditions. Business risk consists of strategic risk, tax risk and refinancing risk, of which only strategic risk is assessed as material. Symbol: Climate Event Input: Emerging risks are monitored proactively, their potential long-term impact on the Company is evaluated, and Senior Management and Risk Management Committee are informed on the subject. In this context, climate change risks stand out in terms of both impact and probability. Moreover, loss of reputation/brand damage, business interruption, failure to innovate, cyber attack and information security risks stand out as globally emerging risks. Symbol: Not Climate Event Input: A global increase in greenhouse gas (GHG) concentration in our atmosphere has caused a record-breaking pace of temperature rise, and the rate of change is still increasing. Since the 1880s, the average global temperature has increased by 1.1 degrees Celsius. A destructive trend of impacts has emerged, from stronger hurricanes to intensified droughts and rising sea levels: climate change is already causing large-scale damage to communities around the world. Symbol: Not Climate Event Input: Since 2016 we have also been working with the Australian Bureau of Meteorology (BOM), using their mapping to identify parts of Australia with low rainfall and those areas more likely to experience rainfall variation. (Fig 1 - Rainfall Annual 30-year average (1986-2015)). When customers purchase properties in these areas, we test their financial resilience to climatic events like rainfall variation and drought. Customers with lower resilience may be subject to enhanced underwriting standards, for example, loan approval may be dependent on a lower loan to valuation ratio, higher repayments, or evidence of savings or equity. Our bankers also need to document the customer's knowledge of recent rainfall and climate trends where their farm is located and, if relevant, how they manage water budgets for irrigation. Symbol:	Not Climate Event
Input: The sensitivity analysis does not show a comprehensive picture of all potential scenarios. Further, variables do not tend to move in isolation, nor in a uniform or consistent manner, and the analysis does not show the potentially infinite number of permutations, and resultant impacts, that might arise in reality as a consequence. Symbol: Climate Event Input: Operational risks are inherent in the Barclays Bank Group’s business activities and it is not cost effective or possible to attempt to eliminate all operational risks. The Operational Risk Framework is therefore focused on identifying operational risks, assessing them and managing them within the Barclays Bank Group’s approved risk appetite. Symbol: Climate Event Input: Compliance Risk Management Compliance risk (a type of operational risk) is the risk resulting from the failure to comply with laws (legislation, regulations and rules) and regulatory guidance, and the failure to appropriately address associated impacts, including to customers. Compliance risk encompasses violations of applicable internal policies, program requirements, procedures, and standards related to ethical principles applicable to the banking industry. Symbol: Climate Event Input: Upton 2 — We have completed the construction of our first battery energy storage system (ESS). In October 2018, we were awarded a $1 million grant from the TCEQ for our battery ESS at our Upton 2 solar facility. The grant is part of the Texas Emissions Reduction Plan. The 10 MW lithium-ion ESS captures excess solar energy produced during the day and releases the energy in late afternoon and early evening, when demand is highest. The Upton 2 battery ESS became operational in December 2018. Symbol: Not Climate Event Input: Importance Global warming is causing major changes to our environment. Climate change looks to be increasing the frequency and intensity of extreme weather events such as heat waves, droughts, floods and tropical cyclones, damaging critical infrastructure and interrupting the provision of basic services such as food, water, sanitation, education, energy and transport. Symbol: Not Climate Event Input: 42_ Scope 1 concerns direct emissions from the combustion of fossil fuels, such as gas, oil, coal, etc. Scope 2 covers indirect emissions related to the consumption of electricity, heat or steam required to manufacture a product. Scope 3 concerns other indirect emissions, such as the extraction of materials purchased by the company to manufacture a product or the transport-related emissions of employees and of customers who buy the product. This is the largest share of a company’s emissions. Symbol: Not Climate Event Input: These sector-specific policies are usually developed by the AI taking into account relevant industry certification schemes, international practices, its strategy, level of exposure to the particular sector, and even its engagement with customers, industry experts, shareholders and the community. Symbol: Climate Event Input: We recognise that global warming is an existential threat to humanity and one that we collectively can take steps to address. However, this is not a simple issue and we wish to take action that both meets our legislative requirements and is effective. We note that carbon dioxide produced from coal is not the only, or even the most potent, source of greenhouse gas emissions. Any company that sources energy from coal fired (or gas fired for that matter) energy generation is to some extent complicit in and contributing to the problem. This also extends to governments that do not regulate or factor in the costs from the damage that greenhouse gas emissions cause. As such, the list of contributors to the problem extends to almost the full range of our potential investment universe. Further, shutting down all coal supplies to coal fired power plants overnight would cause blackouts in many countries around the world and severely affect energy infrastructure. Electric grid systems that can only manage with a high percentage of base load power are another contributing factor. Symbol: Not Climate Event Input: We manage these risks in each stage of the building cycle: We conduct deep due diligence during the acquisition phase which includes building resiliency, energy and water consumption, building safety and materials, social impacts on the local community, certifications, environmental regulations and risk of disasters such as earthquakes and flooding. Symbol:	Not Climate Event
Input: BNP Paribas Asset Management has committed to align its portfolios with the goals set out in the Paris Agreement. To that end, in 2019 BNP Paribas Asset Management announced that it would be implementing a new, more restrictive coal policy, which took effect on 1 January 2020. The policy applies to all open-ended funds actively managed by BNP Paribas Asset Management, and is set to become the standard for mandates as well. As of 2020, BNP Paribas Asset Management no longer invests in companies generating more than 10% of their revenue from thermal coal operations and/or for which thermal coal represents 1% or more of their total global production. Electricity producers with a carbon intensity exceeding the global average of 491 gCO2e/kWh in 2017 will also be ruled out, as BNP Paribas Asset Management aligns itself with the path set to reach the Paris Agreement goals, as determined by the IEA in its Sustainable Development Scenario (SDS). This scenario calls for electricity producers to reduce their carbon intensity to 327 gCO2e/kWh by 2025. Accordingly, BNP Paribas Asset Management will require the companies it invests in to reduce their carbon intensity to an SDS-compatible rate between 2020 and 2025, excluding those who fail to do so. Symbol: Not Climate Event Input: We ensure that all airport operations, flight, and inflight crewmembers are equipped with the knowledge to identify and respond to potential cases of human trafficking through their initial training and subsequent annual recurrent training. In addition, all crewmembers can take an online human trafficking course. Crewmembers are taught what human trafficking is, who the victims typically are, what signs to look for, and how to report information of suspected human trafficking. Symbol: Climate Event Input: The types of events that give rise to reputation risk are broad and could be introduced in various ways, including by the Firm’s employees and the clients, customers and counterparties with which the Firm does business. These events could result in financial losses, litigation and regulatory fines, as well as other damages to the Firm. As reputation risk is inherently difficult to identify, manage, and quantify, an independent reputation risk management governance function is critical. Symbol: Climate Event Input: Application - Projects with high and irreversible risks and po - tential impact, where it is not deemed possible to establish a viable action plan, or projects that con - travene the Bank's corporate values, are rejected. Symbol: Climate Event Input: We strengthened our commitment to responsible ownership by investing directly in projects and companies that are making a positive impact, such as a $170 million commitment to affordable housing. And through the development of our new Climate Change Portfolio Transition Plan, we’ve committed to transitioning our investment portfolio to carbon neutrality, achieving net zero emissions by 2050. Symbol: Not Climate Event Input: Future Opportunities from Product Development As a leading provider of data & analytics, S&P Global recognizes the role they play in designing products and solutions that will help our clients mitigate the challenges from climate change and drive opportunities as the world transitions to a low carbon economy. Symbol: Not Climate Event Input: DRAFT 1 d4a Changing regulatory requirements AnnualReport- We take our regulatory obligations seriously and manage non-compliance with regulatory requirements as a risk, with supporting risk appetite statements set by the Board. Symbol: Climate Event Input: As for climate-related risks, we have followed TCFD classification in considering (1) risks related to the transition to a low-carbon economy in the 2°C scenario and (2) risks related to the physical impacts of climate change in the 4°C scenario, which assumes that efforts to reduce global CO2 emissions have failed. Risks are categorized into short term (over the next three years from fiscal 2019 to 2021), medium term (through fiscal 2030), and long term (through fiscal Symbol: Not Climate Event Input: In addition, we have established new medium- to long-term targets to be achieved by fiscal 2030 under KV30. We are now in the process of formulating specific action plans to reduce Greenhouse gas emissions by 26% compared to the fiscal 2013 level in Japan. Symbol:	Not Climate Event
Input: In April 2020, we announced our A$20 million Community Support Fund which is supporting our host communities with the challenges associated with the COVID-19 pandemic. Since launching the Fund, a number of health, livelihood and economic recovery initiatives have been funded such as a partnership with the University of Queensland to support COVID-19 vaccine research, a contribution to the cost of new lost-cost ventilators and partnering with international organisations to deliver medical supplies, equipment, infrastructure and services in Papua New Guinea. Symbol: Climate Event Input: 2017 (36.01 tonCO 2 eq/kboe). This reduction already makes it possible to achieve the 2021 target, but Eni is nonetheless set on pursuing an improvement of at least 2% per annum in coming years as well. In addition to the upstream results already mentioned, this reduction was also made possible by a reduction in the emission intensity of refineries even with an increase in the performance index of EniPower. In 2018, Eni invested about €10 million in energy efficiency projects, which, once in full operation, will yield energy savings of 313 ktoe/year, amounting to a reduction in emissions of around 0.8 million tonnes of CO Symbol: Not Climate Event Input: The British Columbia Carbon Tax Act sets a carbon price of $30 per tonne of CO2e on fuel combustion. Beginning April 1, 2018, the provincial carbon tax is expected to increase by $5 per tonne of CO2e per year, reaching the federal target carbon price of $50 on April 1, 2021. The tax may also be expanded to fugitive and vented emissions from the oil and gas sector. The Government of British Columbia has also introduced measures to reduce upstream Symbol: Not Climate Event Input: Four years ago, we began to significantly increase our exposure to the credit asset class which now stands at $18.3 billion at the end of 2019. We believe that rotating capital away from low-yielding, long-dated government bonds into higher-yielding credit investments provides for a better return on risk in the current low interest rate environment. Symbol: Climate Event Input: Building on our history of energy efficiency improvements, we substantially increased our commitment to renewable energy in 2020, committing to 100% renewable electricity for US operations which accounts for over half of our global electrical load. Symbol: Not Climate Event Input: In addition to participating in international working groups associated with the Principles for Responsible Banking, the Bank participates in the work of the Canadian Bankers Association on the following issues: Scenario analysis Integrating climate-related concepts into risk management Defining a Canadian taxonomy Monitoring key developments and best practices Standardizing of calculation methodologies Peer-to-peer comparison exercises Increasing the Efficiency of Our Operations In addition to its efforts to develop sustainable products and services, the Bank has identified opportunities to be greener in its operations. Symbol: Not Climate Event Input: Risk committees Effective risk management requires company-wide risk governance. ING's risk and control structure is based on the 'three lines of defence' governance model, whereby each line has a specific role and defined responsibilities and the execution and control of tasks are separated. At the same time, the three lines have to work closely together to identify, assess and mitigate risks. This governance framework is designed to manage risk in line with ING's overall risk appetite as approved by the Management Board Banking, Executive Board and Supervisory Board. Symbol: Climate Event Input: In general, the Group's strategic risks were stable during the year with competitor capacity being monitored and assessed within the Group. IAG continues to support deregulation, manage its supplier base and explore opportunities for consolidation. Symbol: Climate Event Input: Its main priorities in 2019 were initiating investigations into new opportunities, reviewing existing proposals, examining and challenging our quarterly climate change reports and ensuring Trafigura is positioned to adapt as the world transitions to a low carbon economy. Symbol:	Not Climate Event
Input: Over the past several years, changing weather patterns and climatic conditions, including as a result of global warming, have added to the unpredictability, frequency and severity of natural disasters and created additional uncertainty as to future trends and exposures. In particular, the consequences of climate change are expected to significantly impact the insurance industry, including with respect to risk perception, pricing and modeling assumptions, and need for new insurance products, all of which may create unforeseen risks not currently known to us. Symbol: Not Climate Event Input: Impacts of Risks are consequences of risks, both quantitative and qualitative. There may be many consequences of risks manifesting, such as a reduction in earnings and capital, liquidity outflows, and fines or penalties, or qualitative impacts such as reputation damage, loss of clients and customers, and regulatory and enforcement actions. Symbol: Climate Event Input: In Europe, as new legislative initiatives have been brought in, we have sought to maximize the opportunities for digital dissemination. BlackRock produces approximately 50,000 Undertakings for the Collective Investment in Transferable Securities ('UCITS') Key Investor Information Documents a year in multiple languages and we use our website as our primary delivery mechanism. We have also consistently advocated for key information disclosure documents, including UCITS, packaged retail investment, and insurance-based investment products and pan European personal pension products to be designed on a digitally friendly basis rather than on a paper basis.65 Symbol: Climate Event Input: This USD 310 million green bond carries a coupon rate of 4.75% and a 5-year maturity due 2023. The proceeds from the green bond are used to finance the following two green projects in the Greater Bay Area, both due for completion by the end of 2021. The “New World China Symbol: Not Climate Event Input: Application - Projects with high and irreversible risks and po - tential impact, where it is not deemed possible to establish a viable action plan, or projects that con - travene the Bank's corporate values, are rejected. Symbol: Climate Event Input: In 2019 ATP has invested DKK 0.7bn in a gas pipe- line to move waste gas from one of the world’s largest oilfields, Delaware Basin in western Texas, to Mexico. The natural gas is a by-product of oil drilling. In the past the gas was burned off, but it is now taken away for the production of electricity. The gas thereby replaces some of the need for coal and oil to produce electricity in Texas and Mexico. The natural gas pipeline therefore represents important infrastructure as a solution to support the green transition since gas almost halves the emission of CO2 when used to replace coal and oil for the production of electricity. Symbol: Not Climate Event Input: Now, these older coal and gas plants are being shuttered in the UK and being replaced by intermittent renewable energy sources, principally wind. This reduces carbon emissions but makes the provision of these system support services more challenging. Wind, by its nature, is intermittent and, for the most part, unable to provide system support services. Symbol: Not Climate Event Input: Thus, the Board of Directors, upon recommendation of its Compensation & Governance Committee, and following a comparative review of national, European and industry practices, decided to maintain unchanged, for 2018, the Chief Executive Off icer’s target annual variable compensation, at €1.45 million, i.e. 100% of the amount of his annual fixed compensation. Symbol: Climate Event Input: Several tools and methodologies aimed at assessing the exposure of loan books and investment portfolios to climate risks (transition risks and physical risks) are currently being examined across the Group. - BNP Paribas has made a commitment to the Science-Based Target initiative (SBTi). This coalition comprises the Carbon Disclosure Project (CDP), the UN Global Compact, the World Resources Institute (WRI) and the WWF, with the aim of supporting companies interested in setting environmental targets in line with the Paris Agreement goals. As Science Based Targets Initiative - Climate Change has not yet determined a methodology for setting such targets for companies in the financial sector, BNP Paribas is participating in Science Based Targets Initiative - Climate Change working groups to help develop one; - The Group signed the Katowice Commitment in 2018, and the Collective Commitment to Climate Action signed, in September 2019, by 33 banks that are also signatories of the Principles for Responsible Banking (PRB) under the aegis of United Nations Environment Programme FI (United Nations Environment Programme Finance Initiative). The Group has thus undertaken to develop tools that can be used to align its loan book with the goals of the Paris Agreement. In 2019, BNP Paribas tested the methodology developed by the think tank '2 Degrees Investing Initiative'26. - Lastly, in December 2019, BNP Paribas signed the Poseidon Principles promoting decarbonisation of the maritime transport industry by encouraging banks to incorporate climate considerations in their portfolios and credit decisions. Their objective is to meet the goal set by the International Maritime Organization (IMO) to reduce Greenhouse gas emission in maritime transport by at least 50% by 2050 (compared to 2008 levels). They will serve to measure and oversee the Carbon dioxide intensities of shipping finance portfolios, with a methodology used by all signatory banks. Symbol:	Not Climate Event
Input: Fundamental shifts in the industry, like the transition from traditional lighting to LED lighting, may drastically change the business environment. If Philips is unable to recognize these changes in good time, is late in adjusting its business models, or if circumstances arise such as pricing actions by competitors, then this could have a material adverse effect on Philips’ growth ambitions, financial condition and operating result. Symbol: Not Climate Event Input: We may be subject to unionization, work stoppages, slowdowns or increased labor costs and the unionization of the Company’s pilots and inflight crewmembers could result in increased labor costs. Our business is labor intensive and the unionization of any of our crewmembers could result in demands that may increase our operating expenses and adversely affect our financial condition and results of operations. Any of the different crafts or classes of our crewmembers could unionize at any time, which would require us to negotiate in good faith with the crewmember group’s certified representative concerning a collective bargaining agreement. In addition, we may be subject to disruptions by unions protesting the non-union status of our other crewmembers. Any of these events would be disruptive to our operations and could harm our business. Symbol: Climate Event Input: Climate change is already a measurable global reality and our home country, South Africa, along with other developing countries, is likely to see a more pronounced impact due to the perceived lack of financial resilience. South Africa has an energy-intense economy and, as such, is a significant contributor to global carbon emissions. Symbol: Not Climate Event Input: AGL's Risk Management Policy, which has been approved by AGL's Board, mandates that management utilise risk management principles in decision-making, and requires all AGL people to consider their functions and roles and how to manage risks arising from their business decisions and activities. AGL's Statement of Risk Appetite, reviewed annually by the ARMC, sets out AGL's risk appetite in relation to strategic, financial, market and operational risks, as well as AGL's risk tolerance (which in turn identifies activities for which AGL has no appetite). Symbol: Climate Event Input: Through these initiatives, Konica Minolta is aiming to achieve the business targets of more than ¥75 billion in operating profit, ¥50 billion in profit attributable to owners of the company, and ROE of 9.5% by fiscal 2019, the final year of the Medium Term Business Plan. Beyond this, we are looking to achieve a medium-term target of more than ¥100 billion in operating profit and more than ¥70 billion in profit attributable to owners of the company by fiscal 2021. Symbol: Climate Event Input: CN invested $1.6 billion in basic track infrastructure in 2017 to improve the safety and fluidity of our network. The work included the replacement of more than 2.2 million cross ties and the installation of over 600 miles of new rail, as well as bridge repairs, branch line upgrades and other general track maintenance. In 2018, CN is targeting a record $3.2 billion in total capital investment, up Symbol: Climate Event Input: − Scope 3: Optional scope that includes indirect emissions associated with the goods and services supply chain produced outside the organization. Included are emissions from the transport of products from our logistics centres to stores (downstream) performed by external logistics operators (air, land and sea transport) as well as the emissions associated with electricity consumption in franchise stores. Symbol: Not Climate Event Input: EXAMPLES OF RISKS Resource scarcity, coupled with increasing demand, could affect production, availability, quality and cost of raw materials. Increased frequency of extreme weather events, from floods to droughts, could cause disruption in our supply chain and impact the sourcing of raw materials, as well as the production and distribution of finished goods. Increased regulation and more stringent environmental standards could impact our business by affecting production costs and flexibility of operations. Our industry is sustained by many agricultural and manufacturing communities around the world. Failure to support them in preserving key skills and building more sustainable livelihoods could cause social, economic and operational challenges, ranging from community tensions and disruption to production, to a reduced talent pool. Symbol: Not Climate Event Input: ENBW Amounting to EUR 1.5 billion, this deal was the first sustainable finance transaction closed since the COVID-19 crisis began, where BBVA acts as the sole sustainable coordinator, and in which the economic conditions are linked to the performance of three sustainability indicators for the company (two environmental and one social), in addition to the company's credit rating. Symbol:	Not Climate Event
Input: Reflective of investor feedback, our Task Force on Climate-related Financial Disclosures Strategy is divided into three separable chapters to be commissioned over three years; Stage 1. Identify Key Material Risk. Stage 2. Assess climate change scenarios of key material risks. Stage 3. Define and disclose financial valuations associated to those risks. In FY18, Management completed Stage 1, and is now proceeding to Stage 2. Investa is pleased to work with the UN Environmental Programme Finance Initiative working group on establishing Task Force on Climate-related Financial Disclosures best practice reporting models. It is our intention to continue to gather investor and best practice feedback in Task Force on Climate-related Financial Disclosures reporting on an ongoing basis. Symbol: Not Climate Event Input: As a founding member of the Australian Business Roundtable for Disaster Resilience & Safer Communities, IAG works collaboratively with governments to effect change in public policy, increase investment aimed at building safer and more resilient communities and working to improve the capacity of people and businesses to better withstand future natural disasters. IAG has also been invited by the Governments in Australia and New Zealand to play a role in climate change management, including active engagement and contribution to the National Resilience Taskforce in Australia. In New Zealand IAG is working through the Climate Leaders Coalition to ensure businesses are actively adapting and building resilience to climate impacts. As a key member of the Insurance Council of Australia, the representative body of the general insurance industry in Australia, IAG plays an active role in the Council's Climate Change Action Committee and Data and Knowledge Sub-Committee. Symbol: Not Climate Event Input: AGL's Risk Management Policy, which has been approved by AGL's Board, mandates that management utilise risk management principles in decision-making, and requires all AGL people to consider their functions and roles and how to manage risks arising from their business decisions and activities. AGL's Statement of Risk Appetite, reviewed annually by the ARMC, sets out AGL's risk appetite in relation to strategic, financial, market and operational risks, as well as AGL's risk tolerance (which in turn identifies activities for which AGL has no appetite). Symbol: Climate Event Input: We have imposed restrictions on providing loans, advice and insurance to controversial and socially sensitive sectors and activities such as: the energy sector, project finance, arms-related activities, narcotic crops, gambling, fur, palm oil production, mining, deforestation, land acquisition and involuntary resettlement of indigenous populations, tobacco, mining, animal welfare and prostitution. Symbol: Not Climate Event Input: More recently, we have seen some shift in rhetoric on environmental and social issues by the mainstream financial community. However, the voting records of many fund managers tell a different story. Nearly across the board, the largest fund managers tend to vote in line with management recommendations and generally support very few shareholder proposals, which typically advocate for sustainable and responsible business practices. For example, a recent study by Ceres found that, particularly around the topics of climate change, some of the largest managers have among the worst voting records in the fund industry. Symbol: Not Climate Event Input: If Philips is unable to ensure effective supply chain management, e.g. facing an interruption of its supply chain, including the inability of third parties to deliver parts, components and services on time, and if it is subject to rising raw material prices, it may be unable to sustain its competitiveness in its markets. Symbol: Climate Event Input: Until the end of March 2021, a total of 29 institutions, including domestic and foreign automobile manufacturers, automotive component manufacturers, and universities, will participate in these field operation tests to acquire test data, conduct analysis, and report test results. In addition, they are planning to carry out activities such as holding test drives and demonstration events and disseminating information to develop public acceptance of automated driving. Symbol: Climate Event Input: CN invested $1.6 billion in basic track infrastructure in 2017 to improve the safety and fluidity of our network. The work included the replacement of more than 2.2 million cross ties and the installation of over 600 miles of new rail, as well as bridge repairs, branch line upgrades and other general track maintenance. In 2018, CN is targeting a record $3.2 billion in total capital investment, up Symbol: Climate Event Input: Mizuho Bank (formerly Mizuho Corporate Bank) became the first Asian financial institution to adopt the Equator Principles in 2003. Since our adoption of the Equator Principles in October 2003, Mizuho Bank has remained actively engaged with the Equator Principles Association as a member of the Steering Committee, which consists of 10 international financial institutions. Mizuho Bank has also played a leadership role, serving as Chair of the Steering Committee, the first Asian bank to do so, from 2014 to 2015 and serving currently as regional representative for Asia & Oceania. Symbol:	Not Climate Event
Input: Identifying, quantifying and managing risk is complex and challenging. Although it is our policy and practice to identify and, where appropriate and practical, actively manage such risks to support objectives in managing capital and future financial security and flexibility, our policies and procedures may not adequately identify, monitor and quantify all risks. Symbol: Climate Event Input: Compliance Risk Management Compliance risk (a type of operational risk) is the risk resulting from the failure to comply with laws (legislation, regulations and rules) and regulatory guidance, and the failure to appropriately address associated impacts, including to customers. Compliance risk encompasses violations of applicable internal policies, program requirements, procedures, and standards related to ethical principles applicable to the banking industry. Symbol: Climate Event Input: In developing our scenario analysis, we used internal data sets and assumptions made in our existing business models. We considered the views of departments across the business to better understand risks and time horizons. We also took the time to consider impacts and dependencies. This helped us to report on the risks and opportunities that are most material to our organization. Symbol: Climate Event Input: 2015, the Bank had taken a commitment to target mobilizing USD 5 billion up to 2020 for climate action, and reports its Renewable energy funding portfolio annually. In addition, through the Environment & Social Policy, the Bank incorporates Environmental and social risk assessment into its overall credit risk assessment process. Symbol: Not Climate Event Input: The scientific community has concluded that increasing global average temperatures produces significant physical effects, such as the increased frequency and severity of hurricanes, storms, droughts, floods or other extreme climatic events that could interfere with Eni’s operations and damage Eni’s facilities. Extreme and unpredictable weather phenomena can result in material disruption to Eni’s operations, and consequent loss of or damage to properties and facilities, as well as a loss of output, loss of revenues, increasing maintenance and repair expenses and cash flow shortfall. Symbol: Not Climate Event Input: We participate in the Carbon Disclosure Project Climate Change programme to disclose our climate strategy and performance to a collaboration of institutional investors. In 2019, our score dropped to B from A- in 2018, mainly due to our score for governance of climate-related issues and being unable to report on our full scope 3 inventory at the time of reporting. While disappointing, we now have measures in place to help to restore our score. These measures include strengthened governance through our new Board-level Sustainability Committee, and the work on scope 3 emissions described on page 40. Symbol: Not Climate Event Input: Mizuho Bank (formerly Mizuho Corporate Bank) became the first Asian financial institution to adopt the Equator Principles in 2003. Since our adoption of the Equator Principles in October 2003, Mizuho Bank has remained actively engaged with the Equator Principles Association as a member of the Steering Committee, which consists of 10 international financial institutions. Mizuho Bank has also played a leadership role, serving as Chair of the Steering Committee, the first Asian bank to do so, from 2014 to 2015 and serving currently as regional representative for Asia & Oceania. Symbol: Not Climate Event Input: Reputation Risk: This is the risk of loss of credibility due to internal or external factors and is often related to, or results from, other categories of risk. This risk can arise from our internal business practices or those of our business partners or the companies in which we invest. Business partners include third parties hired to perform some of our administrative functions as well as investment organizations with which we have a contractual arrangement. A loss of reputation could impact our position as a partner, investor and employer of choice and impede our ability to execute our strategy. Symbol: Climate Event Input: R$1.745 billion) in bonds distributed in the U.S. market and maturing in 2027. In addition to the green bonds mentioned above, we carried out a social and environmental due diligence process to enable the issue of R$7.67 billion in bonds to be used for long-term investments in specific projects. Symbol:	Not Climate Event
Input: Member of the Green Bond Principles TD continues to enhance its Green Bond Framework, with the most recent issuance aligned with the 2017 Green Bond Principles, the most up to date at time of issuance. We align with internationally recognized frameworks such as the Green Bond Principles to guard against greenwashing. For TD's green bonds specifically, we also employ third parties for both assurance and second opinions to ensure the validity of our measured impacts and green criteria. TD Bank is a proud member of the Green Bond Principles and an active participant on the International Capital Market Association (ICMA) Social Bonds and Green Projects Eligibility working groups for 2019-20. Symbol: Not Climate Event Input: The Group considers risk management to be the key point in the financing business. We are therefore establishing a specialized risk management system that includes risk assessment standards specific to asset types, portfolio management, and monitoring methods. Under this management system, we will prioritize increasing transaction diversification as a concrete method of increasing operating assets exceeding ¥100 billion over the coming three years. Symbol: Climate Event Input: CN invested $1.6 billion in basic track infrastructure in 2017 to improve the safety and fluidity of our network. The work included the replacement of more than 2.2 million cross ties and the installation of over 600 miles of new rail, as well as bridge repairs, branch line upgrades and other general track maintenance. In 2018, CN is targeting a record $3.2 billion in total capital investment, up Symbol: Climate Event Input: The Fund is working to identify governance issues in its underlying investment holding companies which could damage its long-term financial interests. The risk analysis is based upon the following potential adverse impacts on a company’s: i) Reputation. ii) Falling short of its peers on social, environmental or ethical trends. iii) Slow in responding to social changes and trends. iv) Falling short of its peers on meeting reporting standards. v) Comparatively weak board structure in terms of make-up, expertise, independence. Symbol: Not Climate Event Input: Recent changes in the global climate are unprecedented and are expected to continue. Climate change is increasingly expected to threaten natural ecosystems and their biodiversity, erode global food security, threaten human health and increase inequality. The effects of climate change also present opportunities for our business, such as the impact of Government policy on de-carbonising the UK’s energy supply and the subsequent growth of the UK’s offshore energy industry. Symbol: Not Climate Event Input: Since 2017, we have been advancing our capabilities in climate scenario analysis: In 2018, RBC and 15 other financial institutions participated in a United Nations-led project to develop and publish methodologies for assessing the impact of future climate scenarios on our clients and loan portfolios. Symbol: Not Climate Event Input: Risk and risk management Operational risk and compliance risk Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events including legal risk but excluding strategic and reputation risk. It also includes, among other things, technology risk, model risk and outsourcing risk. Symbol: Climate Event Input: Validation We established a common understanding between Toyota Motor Corporation (TMC) and all regions at the global meetings also based on the analyses conducted by overseas affiliates. We also engaged in dialogue with international organizations to validate the issues identified from perspectives outside of the company. The matrix was confirmed by relevant executives. Symbol: Climate Event Input: In December 2019, we established a new suite of 2025 operational sustainability goals with a focus on strategic, collaborative partnerships that drive market transformation, as outlined in our Sustainability Report. The firm has been a member of RE100 since 2015 and recently joined additional initiatives EV100 and EP100 with ambitious commitments to electrify transport and deploy smarter energy use - making us the first US company to become a member of all three of The Climate Group's global corporate leadership initiatives to accelerate the clean energy transition. https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement https://obamawhitehouse.archives.gov/climate-change/pledge https://obamawhitehouse.archives.gov/climate-change/pledge https://bteam.org/our-thinking/news/30-major-ceos-call-on-trump-stay-in-paris https://www.unitedforparisagreement.com/ https://www.linkedin.com/pulse/our-commercially-driven-plan-sustainability-david-m-solomon/ https://clcouncil.org/ https://www.bloomberg.com/cfli/ https://data.bloomberglp.com/company/sites/55/2019/09/Financing-the-Low-Carbon-Future-CFLI-Full-Report-September-2019.pdf https://oneplanetswfs.org/download/23/online-publication/810/one-planet-asset-managers-statement-19-07-10.pdf https://www.goldmansachs.com/s/sustainability-report/ http://there100.org/ https://www.theclimategroup.org/project/ev100 https://www.theclimategroup.org/ep100 https://www.theclimategroup.org/ Symbol:	Not Climate Event
Input: Our climate change strategy includes a focus on reducing emissions from deforestation through support for REDD+, the UN program that aims to reduce emissions from deforestation and forest degradation. For example, in partnership with the International Finance Corporation (IFC) and Conservation International (CI) we developed a first-of-its-kind US$152 million Forests Bond, issued by the IFC in 2016. We provide a price-support mechanism for the bond, which supports the Kasigau Corridor REDD project in Kenya. During FY2019, we purchased additional carbon credits from the Kasigau Corridor project. Symbol: Not Climate Event Input: Compliance Risk Management Compliance risk (a type of operational risk) is the risk resulting from the failure to comply with laws (legislation, regulations and rules) and regulatory guidance, and the failure to appropriately address associated impacts, including to customers. Compliance risk encompasses violations of applicable internal policies, program requirements, procedures, and standards related to ethical principles applicable to the banking industry. Symbol: Climate Event Input: BNP Paribas work together withe banks having signed the Katowice Commitment to test and recom- mend to test and recommend ways to improve the general methodology developed by the 2 Degrees Investing Initiative. Symbol: Not Climate Event Input: As a leader in the index investing and asset management industry, BlackRock has been the subject of commentary citing concerns about the growth of index investing, as well as perceived competition issues associated with asset managers managing stakes in multiple companies within certain industries, known as “common ownership”. The commentators argue that index funds have the potential to distort investment flows, create stock price bubbles, or conversely, exacerbate a decline in market prices. Symbol: Climate Event Input: 4. While Canadian financial regulations are considered to be best in kind, they may pose an obstacle for financial institutions in adapting to the fintech ecosystem. The study found that there is a growing disconnect between regulations and the latest technological advances. Current regulations make it difficult for Financial Firms to undertake the low-level, rapid experimentation required to develop safe, useful fintech products and services. Symbol: Climate Event Input: - Other subjects: The Group is also participating in a study by the French Association of Private Companies (AFEP) on the comparison of 2 C scenarios and in a different study by Entreprises pour l'Environnement (EpE) ZEN 2050 on the decarbonisation of the French economy by 2050. Symbol: Not Climate Event Input: Since the Industrial Revolution, an increase in energy consumption has heightened the concentrations of greenhouse gases, such as carbon dioxide (CO2), in the atmosphere, and global warming is progressing. If warming continues without taking any effective countermeasures, there will be major changes in the earth's climate. This will cause phenomena such as rising sea levels and abnormal weather patterns, and have a great impact on the living environments of people and other organisms. Abnormal weather patterns will also increase the risk of damage to the business activities of the Mitsui Fudosan Group. Symbol: Not Climate Event Input: The COVID-19 pandemic rapidly introduced an array of new and elevated risks to the safety of our people, the resilience of our operations, the strength of our balance sheet and the financial security of our customers and the community. Action has been required to address these risks, particularly in the following areas: Symbol: Climate Event Input: Sustainable Development Goals ('SDGs') Analytics In 2020, Trucost launched a Sustainable Development Goal analytics tool allowing financial institutions to assess portfolio alignment to the UN Sustainable Development Goals (SDGs). Trucost's Sustainable Development Goal analysis tool is an extension of Trucost's Sustainable Development Goal Evaluation tool launch in 2018 to help companies align business strategies with the goals. The Sustainable Development Goals are a global blueprint adopted by the world's governments to achieve a better and more sustainable future for all. Symbol:	Not Climate Event
Input: Furthermore, similar to upstream PP&E assets discussed above, E&A assets are also potentially exposed to climate change and the global energy transition. A greater number of projects may be expected not to proceed as a consequence of lower forecast future demand, lower appetite by management and the board to allocate capital to certain projects, or increased objections from stakeholders to the development of certain projects. In response, management has updated its internal controls over its IFRS 6 assessment to reflect the potential impact that climate change and the energy transition may have on E&A assets. Symbol: Not Climate Event Input: Risks to the Group’s reputation Risks include acts or omissions by the Group or any of its employees that could damage the Group’s reputation or lead to a loss of trust among its stakeholders. Every risk type has potential consequences for Zurich’s reputation. Effectively managing each risk type supports preventing adverse reputation outcomes. Symbol: Climate Event Input: Citi is on track to meet our climate-related targets. We will continue to set new goals and report new metrics as the need and opportunity arises to help us manage our climate change risks, opportunities and responsibilities. We will also continue to evaluate how we can create new and better metrics and targets to review and report on our climate- related strategy as it evolves. Symbol: Not Climate Event Input: These sector-specific policies are usually developed by the AI taking into account relevant industry certification schemes, international practices, its strategy, level of exposure to the particular sector, and even its engagement with customers, industry experts, shareholders and the community. Symbol: Climate Event Input: The EBRD is financing the delivery of energy supplies from Azerbaijan to Europe along the Southern Gas Corridor with a US$ 500 million (€417 million equivalent) loan that will help fund completion of the Trans-Anatolian Gas Pipeline. Bank engagement in the project will ensure that it meets the highest environmental standards. Symbol: Not Climate Event Input: In addition to reductions in our vending and cooler equipment footprints, emission reductions have also been achieved through our progress towards sustainably sourcing palm oil, reducing added sugar in our beverages, increasing recycled content in our packaging, establishing partnerships on soil health practices within our value chain, and eliminating waste went to landfill from our facilities. Symbol: Not Climate Event Input: Regulatory risk is the risk of failure to meet new or existing regulatory and / or legislative requirements and deadlines, or a failure to embed compliant procedures into processes. It also includes the risk to the Group's capital, liquidity and profitability from the impact of future legislative and regulatory changes. Symbol: Climate Event Input: The sensitivity analysis does not show a comprehensive picture of all potential scenarios. Further, variables do not tend to move in isolation, nor in a uniform or consistent manner, and the analysis does not show the potentially infinite number of permutations, and resultant impacts, that might arise in reality as a consequence. Symbol: Climate Event Input: This long-term perspective is reflected in the choice of strategic portfolio, which includes both the long-term distribution of capital over various broad asset classes as well as strategies that determine the distribution within each asset class of individual securities. Symbol:	Climate Event
Input: Climate change can pose material risks to sovereign debt due to its impact on national expenditures associated with disaster recovery from extreme weather events or preparedness through climate change mitigation and adaptation projects. Emerging market countries are particularly vulnerable since they often lack capital or have higher funding costs, which exacerbates the myriad risks that they already face. For example, many of these countries are vulnerable to food insecurity from both the impact of climate change on their own agricultural production and higher prices for imports. Our investment team members are increasingly focused on deepening their understanding of environmental risk in sovereigns and its complex links to fiscal and monetary conditions, which in turn affect bond yields and credit ratings. Symbol: Not Climate Event Input: IAG is exposed to multiple risks relating to its businesses and pursuit of its strategic objectives. The risks noted below are not exhaustive, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: - Other subjects: The Group is also participating in a study by the French Association of Private Companies (AFEP) on the comparison of 2 C scenarios and in a different study by Entreprises pour l'Environnement (EpE) ZEN 2050 on the decarbonisation of the French economy by 2050. Symbol: Not Climate Event Input: An additional advantage of these programs is increased pilot diversity, something the industry currently lacks (see 'Case Study: JetBlue Foundation'). Across all of our above mentioned programs, 7% of pilots are women, almost double the national average for airline transport. In Gateway Select, 20% of the pilots in our program are from underrepresented groups, about five times the national average. Symbol: Climate Event Input: (2018: €4.6bn, 2017: €4.6bn). mBank in Poland also wants to step up its commitment to environmentally friendly product solutions, with an initial investment of around €118m (PLN 500m) in renewable energy projects at the end of 2018. In July 2019, mBank decided to double this financing pool. To date, around three-quarters of the funds for investments have gone to the wind sector, with the rest supporting the development of solar parks. Symbol: Not Climate Event Input: The main impacts of the 4ºC scenario were: • Physical ramifications of climate change: in this scenario we expect extreme weather events of escalating severity and frequency, which could increase disruption to our assets and our customers. This would require investment to ‘harden’ assets and would heighten the safety risk to our field employees. Our approach to physical climate risk is discussed in more detail below. • Lower system visibility: as this scenario sees less coordinated policy and regulation in pursuit of decarbonisation, we would anticipate a greater variety of solutions being deployed across our networks. This could increase overall system costs and reduce visibility over the network, potentially slowing our responsiveness to disruptive events. We do note, however, that a greater number of distributed assets would increase the potential for local balancing, which could mitigate this. • Inequality of access: without carefully designed policy, we believe decarbonisation activities have the potential to leave some sectors of society behind: for example, heat pumps and the energy efficiency upgrades they typically require are currently cost-prohibitive for many. As well as the ethical implications of this, there is a risk to the Group, especially for our US businesses, that a proportion of our customers would struggle to pay their bills. Symbol: Not Climate Event Input: The COVID-19 pandemic rapidly introduced an array of new and elevated risks to the safety of our people, the resilience of our operations, the strength of our balance sheet and the financial security of our customers and the community. Action has been required to address these risks, particularly in the following areas: Symbol: Climate Event Input: The ability to enable a fast and effective response to, and recovery from, disruptive events. The effectiveness of this element is determined by the thoroughness of efforts to plan, prepare and exercise in advance of events. Symbol: Climate Event Input: Peru is also committed to increasing mortgage supply for high energy-rated properties. Currently, it offers 'Mi vivienda verde,' a state- subsidized mortgage loan for the purchase of a property certified as a green project that includes sustainability criteria in its design and construction. Symbol:	Not Climate Event
Input: 2 intensity. The main upstream projects in progress, which account for about 45% of the total development investments in the sector in the four-year period 2019-22, show an overall break-even at a Brent price of $25/barrel, which is there- fore resilient even in the presence of a low-carbon scenario, and an internal rate of return (IRR) of 22%. Furthermore, these projects have a positive cumulative Free Cash Flow as early as 2019, due to the cash in from the application of the Dual Exploration Model, which is the early monetization of exploration suc- cesses through the sale of minority stakes. The hydrocarbon equity resources13 at 31/12/2018 show that natural gas, a bridge solution towards a low carbon future, accounts for over 50%. The flexibility and adaptability in the use of Eni's investments, amounting to about $33 billion in the period 2019-22, are confirmed by the non-committed share of 50% already in the two-years period 2021-22. Symbol: Not Climate Event Input: The analysis of economic implications of climate change is fraught with difficulty, and it is impossible to survey all potential impacts of climate change as no existing scenario or model can fully describe the workings of the entire physical world and how all physical, chemical, geological and biological processes influence each other. Impacts of climate changes will thus depend on how rapidly they occur, how large the changes are, as well as the adaptability of societies and ecosystems. As such, many analyses are based on factors that lend themselves to some degree of quantification, but climate change will also have effects which are difficult to quantify, or which cannot meaning- fully be quantified. Symbol: Not Climate Event Input: 5.2.11 Conflict minerals: issues further down the chain In line with Philips’ commitment to supply-chain sustainability, we are concerned about the situation in eastern DRC (the Democratic Republic of the Congo), where proceeds from the mining sector are used to finance rebel conflicts in the region. Philips does not directly source minerals from the DRC and the mines are typically seven or more tiers away from our direct suppliers. Philips nevertheless feels obliged to address this issue through the means and influencing mechanisms available to us. Symbol: Climate Event Input: 1.4.2 Health, safety and security of employees and subcontractors Health and safety Employees of VINCI companies and subcontracting companies are required to work on the increasingly complex projects and operations that the Group carries out. This can threaten their health, safety, hygiene and the quality of their life at work. The health and safety coordinators of the Group’s business lines have identified several types of risk considered as major (see the column “Identifying risks” in the table below). Symbol: Climate Event Input: 3.6.1 Measure of strategic resilience against a 2 C scenario Societe Generale's strategy is reflected in its portfolio allocation, and therefore a measure of the strategic resilience of the Group against a 2 C scenario is a measure of the portfolio allocation against a 2 C scenario. Symbol: Not Climate Event Input: The Audit Committee Charter states that the committee will 'discuss policies and procedures with respect to risk assessment and risk management, the company's major risk exposures, and the steps management has taken to monitor and mitigate such exposures.' The Vice President and General Auditor, Corporate Auditing, whose appointment and performance is reviewed and evaluated by the Audit Committee, is responsible for leading the formal risk assessment and management process within the company. Symbol: Climate Event Input: Member of the Green Bond Principles TD continues to enhance its Green Bond Framework, with the most recent issuance aligned with the 2017 Green Bond Principles, the most up to date at time of issuance. We align with internationally recognized frameworks such as the Green Bond Principles to guard against greenwashing. For TD's green bonds specifically, we also employ third parties for both assurance and second opinions to ensure the validity of our measured impacts and green criteria. TD Bank is a proud member of the Green Bond Principles and an active participant on the International Capital Market Association (ICMA) Social Bonds and Green Projects Eligibility working groups for 2019-20. Symbol: Not Climate Event Input: The COVID-19 pandemic rapidly introduced an array of new and elevated risks to the safety of our people, the resilience of our operations, the strength of our balance sheet and the financial security of our customers and the community. Action has been required to address these risks, particularly in the following areas: Symbol: Climate Event Input: Detailed information on emissions is provided under the sustainability risk management heading in the Risk review section of this report, as well as in the bank's 2019 Non-Financial Data & Engagement report; A Our commitment for renewable energy to comprise at least 20% of our energy portfolio in 2022 with the help of our Energy Transition Fund. Symbol:	Not Climate Event
Input: The Group is also committed to promoting research and education to better understand and protect against climate risk: the AXA Research Fund will dedicate €35 million to climate risk research by 2018. In addition, AXA works on climate issues through its partnership with the humanitarian organization CARE; this partnership is focused in part on disaster risk reduction efforts among vulnerable populations in both Africa and Asia. Symbol: Not Climate Event Input: In addition to reductions in our vending and cooler equipment footprints, emission reductions have also been achieved through our progress towards sustainably sourcing palm oil, reducing added sugar in our beverages, increasing recycled content in our packaging, establishing partnerships on soil health practices within our value chain, and eliminating waste went to landfill from our facilities. Symbol: Not Climate Event Input: Economic and financial results in the four-year plan: the adjusted operating profit expected at €0.9 billion in 2021; cumulated free cash flow at €2.1 billion in 2018-2021. ● Reducing refining break-even margin at approximately 3 $/barrel by the end of 2018. ● Completion of the Gela conversion in biorefinery and the development of the second phase of the Venice biorefinery. ● Strengthening of marketing activities in countries of presence. ● Focus on digitalization to optimize operations and enhance efficiencies. Symbol: Climate Event Input: Our offerings are designed to meet the specific needs of IFC clients in different industries — with a special focus on infrastructure, manufacturing, agribusiness, services, and financial markets. In FY18, we made $11.6 billion in long-term investments in 366 projects. In addition, we mobilized nearly $11.7 billion to support the private sector in developing countries. Symbol: Climate Event Input: Transportation infrastructure for electric mobility is the focus of IFC’s $8 million investment in Lithium, India’s first electric fleet operator company. The project will provide job opportunities for up to 8,000 drivers over five years. This is IFC’s inaugural investment in electric mobility. The project supports electrification of transportation, which will help avoid annual greenhouse emissions of more than 25,000 metric tons per year. Symbol: Not Climate Event Input: IAG is exposed to multiple risks relating to its businesses and pursuit of its strategic objectives. The risks noted below are not exhaustive, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: CN invested $1.6 billion in basic track infrastructure in 2017 to improve the safety and fluidity of our network. The work included the replacement of more than 2.2 million cross ties and the installation of over 600 miles of new rail, as well as bridge repairs, branch line upgrades and other general track maintenance. In 2018, CN is targeting a record $3.2 billion in total capital investment, up Symbol: Climate Event Input: The scientific community has concluded that increasing global average temperatures produces significant physical effects, such as the increased frequency and severity of hurricanes, storms, droughts, floods or other extreme climatic events that could interfere with Eni’s operations and damage Eni’s facilities. Extreme and unpredictable weather phenomena can result in material disruption to Eni’s operations, and consequent loss of or damage to properties and facilities, as well as a loss of output, loss of revenues, increasing maintenance and repair expenses and cash flow shortfall. Symbol: Not Climate Event Input: We have been investing in videoconferencing and remote working capabilities as part of our IT Transformation Programme. Videoconferencing is integrated into our online collaboration platforms, enabling colleagues to join virtual meetings anytime, anywhere. Our teams can run webcasts with up to 500 participants. Symbol:	Climate Event
Input: Ultimately, sustainable growth is also about culture and tone from the top. Leaders across the bank promote our efforts, articulate its importance and champion the work needed to deliver sustainable growth well into the future. Symbol: Climate Event Input: Unfortunately, this progress has come at a cost. Carbon emissions have tripled since 1960. We are now consuming about 1.75 times as many natural resources in a year as the planet can possibly regenerate – which is driving land and biodiversity loss, resource shortages and climate change. This is not sustainable, especially with the global population forecast to increase by a further 50% this century. And although people are living longer, they’re not always healthier or happier: there’s been an increase in chronic disease, while mental health issues are also on the rise. Symbol: Not Climate Event Input: Laws, regulations, policies, obligations, social attitudes and customer preferences relating to climate change and the transition to a lower carbon economy could have an adverse impact on our business (including increased costs from compliance, litigation, and regulatory or litigation outcomes), and could lead to constraints on production and supply and access to new reserves and a decline in demand for certain products. Symbol: Not Climate Event Input: These objectives include, amongst others, the commitment to facilitate the mobilisation of €120 billion of green finance between 2019 and 2025, as well as to financially empower 10 million people in the same period, through increasing microfinance activities, financial education programmes and other tools that give access to financial services. Symbol: Not Climate Event Input: We may be subject to unionization, work stoppages, slowdowns or increased labor costs and the unionization of the Company’s pilots and inflight crewmembers could result in increased labor costs. Our business is labor intensive and the unionization of any of our crewmembers could result in demands that may increase our operating expenses and adversely affect our financial condition and results of operations. Any of the different crafts or classes of our crewmembers could unionize at any time, which would require us to negotiate in good faith with the crewmember group’s certified representative concerning a collective bargaining agreement. In addition, we may be subject to disruptions by unions protesting the non-union status of our other crewmembers. Any of these events would be disruptive to our operations and could harm our business. Symbol: Climate Event Input: It is also used to identify what are known as emerging risks, in other words risks which could potentially have an adverse impact on the Group’s future performance, although their result and horizontal time frame are uncertain and difficult to predict (for further details see section ‘Emerging risks’ from chapter C. Background and upcoming challenges). Symbol: Climate Event Input: DEFINITIONS Scope 1 emissions are direct emissions from owned or operated facilities. Cenovus accounts for emissions on a gross operatorship basis. This includes fuel combustion, venting, flaring and fugitive emissions. It does not include emissions from the 50% non-operated ownership in the company’s refineries or emissions from non-operated Deep Basin assets. Symbol: Not Climate Event Input: The Group Compliance SU (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control framework, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk across the entire Group. Symbol: Climate Event Input: In the case of substantial risks at sector level in the field of corporate and project financing, the reporting chain is as follows: Similar mechanisms exist for banking risks, country risks, market price risks and operational risks. Symbol:	Climate Event
Input: However, while any of these factors may lead to commencement of Engagement, we have decided to particularly focus on companies in relation to which we have particular ESG-related concerns, or which do not publish adequate environmental information, or which are ‘laggards’ with regard to a commitment to address climate change issues. Symbol: Not Climate Event Input: Additional climate variables and related environmental stressors are known to affect production but were assessed more broadly due to data and evidence limitations. These parameters include fire, cyclones, sea level rise, pests and diseases. As a result, our modelling of physical climate risk may understate the potential impact of climate change. Symbol: Not Climate Event Input: Economic and financial results in the four-year plan: the adjusted operating profit expected at €0.9 billion in 2021; cumulated free cash flow at €2.1 billion in 2018-2021. ● Reducing refining break-even margin at approximately 3 $/barrel by the end of 2018. ● Completion of the Gela conversion in biorefinery and the development of the second phase of the Venice biorefinery. ● Strengthening of marketing activities in countries of presence. ● Focus on digitalization to optimize operations and enhance efficiencies. Symbol: Climate Event Input: If we are unable to attract and retain qualified personnel or fail to maintain our company culture, our business could be harmed. We compete against other major U.S. airlines for pilots, mechanics, and other skilled labor; some of them offer wage and benefit packages exceeding ours. As more pilots in the industry approach mandatory retirement age, the U.S. airline industry may be affected by a pilot shortage. We may be required to increase wages and/or benefits in order to attract and retain qualified personnel or risk considerable crewmember turnover. If we are unable to hire, train, and retain qualified crewmembers, our business could be harmed and we may be unable to implement our growth plans. Symbol: Climate Event Input: A material portion of this network is still relatively immature and there are risks that may develop over time. For example, it is possible that branches may not be able to sustain the level of revenue or profitability that they currently achieve (or that it is forecasted that they will achieve). Symbol: Climate Event Input: Metrics and Targets Scotiabank sets, monitors and reports on climate change related performance and targets annually in Scotiabank's Sustainable Business Report. The Bank also reports to Carbon Disclosure Project (formerly the Carbon Disclosure Project). As part of Scotiabank's Climate Commitments, the Bank is tracking the initiatives that underlie its commitment as part of the metrics and targets it has adopted pursuant to these Commitments. Symbol: Not Climate Event Input: For a small number of companies that were very close to the threshold, BNP Paribas Asset Management conducted analysis and engagement to encourage these companies to improve their decarbonisation targets - and these companies will be subject to annual monitoring. Symbol: Not Climate Event Input: In the case of substantial risks at sector level in the field of corporate and project financing, the reporting chain is as follows: Similar mechanisms exist for banking risks, country risks, market price risks and operational risks. Symbol: Climate Event Input: Dialogues with companies and decision-makers In addition to investing in sustainable strate- gies, AP2 has dialogues with companies and decision-makers to influence the transition to a low-fossil society. AP2 has in recent years, together with other investors, presen- ted a number of shareholder proposals on climate to several fossil energy companies (BP, Shell, Statoil) and the mining sector (Glencore, Rio Tinto, Anglo American). In addition to the shareholder proposals, the Fund also uses its voting rights to support other investors' shareholder proposals on climate. Over the past year, the Fund has noted that many company boards under- take to improve their climate reporting both in terms of emissions and in evaluation of the companies' projects/activities regarding climate scenarios. Symbol:	Not Climate Event
Input: We have been investing in videoconferencing and remote working capabilities as part of our IT Transformation Programme. Videoconferencing is integrated into our online collaboration platforms, enabling colleagues to join virtual meetings anytime, anywhere. Our teams can run webcasts with up to 500 participants. Symbol: Climate Event Input: The PDO for Johan Sverdrup Phase 2 was approved in May 2019 and will involve the installation of an additional processing platform at the field centre, a major module on the existing riser platform and subsea facilities to reach the satellite areas of the field. The project will bring gross production capacity to 660 Mbopd, and is progressing according to plan with first oil scheduled during the fourth quarter of 2022. Symbol: Not Climate Event Input: In addition to e-learning modules on sectoral policies, available in eight languages, 12 interactive sessions (including methodology reviews and case studies) were organised to help employees improve their understanding and grasp of existing tools. Symbol: Climate Event Input: This new focus is laid out in Eiffage’s 2020 business plan, with the decision to entrust the coordination of transversal innovation to the Sustainable Development department and make internal financial resources available to support the roll-out of the Group’s low-carbon offering. Created in 2016 and allocated an annual budget of €2 million, the E-Face fund supports the operational development of low-carbon offerings by funding the cost differential between a traditional solution and an alternative, low-emission solution for all eligible commercial projects undertaken by the Group. Apart from providing important leverage by co-financing the reduced carbon footprint of a project, the fund also helps identify low-carbon materials, products and processes that can easily be substituted for their high-carbon equivalents while introducing traceability of the carbon content of purchases for accounting purposes. Symbol: Not Climate Event Input: Through these initiatives, Konica Minolta is aiming to achieve the business targets of more than ¥75 billion in operating profit, ¥50 billion in profit attributable to owners of the company, and ROE of 9.5% by fiscal 2019, the final year of the Medium Term Business Plan. Beyond this, we are looking to achieve a medium-term target of more than ¥100 billion in operating profit and more than ¥70 billion in profit attributable to owners of the company by fiscal 2021. Symbol: Climate Event Input: To speed up implementation of these solutions, even ahead of calls for tenders, we have established special financing mechanisms. Every year we allocate €2 million to E-Face, a fund that covers the cost differential between conventional solutions and more environmentally friendly alternatives. Similarly, the Seed’Innov fund aims to support all the Group’s low-carbon innovations, from the initial R&D stage and trials through to their introduction on the market. Symbol: Not Climate Event Input: Bank has a dedicated market intelligence function that provides crucial insights beyond publicly available data, which are essential in helping to identify actual and incipient sources of monetary and financial instability. It also leads work on fair and effective markets, alongside the FCA and HM Treasury. Market intelligence from both these activities allows the Bank to monitor the development of green and sustainable financial markets, and helps inform the Bank's policy response to climate-related risks affecting monetary and financial stability. Symbol: Not Climate Event Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: The COO's Employee Performance Scorecard (EPS) includes improvements in CN's fuel efficiency, in line with the Canadian rail industry medium-term emission intensity reduction target of 6% by 2022 from a 2017 baseline and the company's long-term sciencebased target to reduce Greenhouse gas emission intensity (tCO2 kilometres) by 29% by 2030, based on 2015 levels. Symbol:	Not Climate Event
Input: This broad, detailed study found BNP Pari- bas' business model to be resilient to these risks, with respect to: o its businesses, and the sector and geographic classifications of its portfolios; o the measures taken to mitigate these risks. Symbol: Climate Event Input: While the transformation of our systems will continue beyond 2021, we are committed to remaining within the guided transformation investment spend of €1.4 billion equating to an average of 50 to 60 basis points of Common equity tier 1 (CET1) capital annually until 2021. We expect that investment in transformation beyond 2021 will be at a lower level. Symbol: Climate Event Input: Physical damage may arise with more frequency due to extreme weather events. This includes damage to equipment such as turbine blades and transmission infrastructure, as well as access roads, which impact operational performance. Risks also include long-term changes to weather patterns causing material change to an asset’s energy yield from that expected at the time of investment. Symbol: Not Climate Event Input: As our activities advance, the metrics and targets we use to monitor our success will likely evolve as well. Through our participation in industry groups, we intend to continue developing appropriate metrics that can be adopted consistently by financial institutions to provide comparable, decision-useful information to investors. Symbol: Climate Event Input: The Group is connected to all parts of the economy through its lending and other banking activities and considers it has an important role to play in financing the low-carbon transition. Therefore, in the 2020 financial year, the Group sought to calculate the Scope 3 emissions associated with key segments of its lending portfolio - residential mortgages, commercial real estate (office and retail), agriculture, power generation and resources (including coal, oil and gas). The objective was to better understand what might be required to align the Group's lending portfolio to the temperature goals of the Paris Agreement and a net zero emissions economy by 2050. Symbol: Not Climate Event Input: The Audit Committee Charter states that the committee will 'discuss policies and procedures with respect to risk assessment and risk management, the company's major risk exposures, and the steps management has taken to monitor and mitigate such exposures.' The Vice President and General Auditor, Corporate Auditing, whose appointment and performance is reviewed and evaluated by the Audit Committee, is responsible for leading the formal risk assessment and management process within the company. Symbol: Climate Event Input: 2 captured from neighbouring industrial facilities and power plants into gas fields that are now depleted; - achieving a capacity for energy production from renewable sources over 55 GW by 2050; - expansion of retail operations with the aim of reaching over 20 million supply contracts by 2050. Furthermore, Eni has confirmed and further extended its intermediate decarbonisation targets: net-zero carbon footprint by 2030 for scope 1 and 2 emissions from upstream operations and net-zero carbon footprint for scope 1 and 2 emissions from all Group operations by 2040. Overall spending in the four-year period 2020-23 for decarbonisation, circular economy and renewables is forecast at approximately €4.9 billion, including scientific and technological research activities designed to support these areas. Symbol: Not Climate Event Input: The Bank also signed a €19 million deal in 2019 in Poland with BNP Paribas Bank Polska to improve energy efficiency in existing homes. The Polish bank will use the money to give loans to farmers and homeowners to install solar panels. The money also will help housing associations improve energy efficiency. Symbol: Not Climate Event Input: Key objectives to address IAG's strategic focus area for disaster risk reduction and climate change are captured and disclosed in its Climate Action Plan and Scorecard, which has five areas of focus: 1. Symbol:	Not Climate Event
Input: IFC partners with more than 30 governments, 20 foundations and corporations, and a variety of multilateral and institutional entities. In FY20, our development partners committed $288 million for IFC’s Upstream and advisory services and $22 million for blended finance initiatives to support private sector investments in countries most affected by fragility and conflict, as well as projects related to gender, climate, financial inclusion, sustainable infrastructure, agribusiness, and manufacturing. Symbol: Not Climate Event Input: We also invested in solar power generation with a £57 million long-term debt financing agreement to support Hermes Infrastructure, which provides solar photovoltaic systems for over 9,000 residential homes across the UK. This is a great example of how, across the group, we are seeking opportunities to address climate change and required energy transition. Symbol: Not Climate Event Input: Compliance risk Compliance risk is the risk of failure to comply with applicable rules and regulations, and in so doing, exposing the group to penalties and reputational damage. Penalties received or due for non-compliance are an example of this risk. As a leading financial services group, the group faces complex challenges to ensure that its activities comply with local legislation, regulations and supervisory requirements and the relevant international standards and requirements. Symbol: Climate Event Input: Risk committees Effective risk management requires company-wide risk governance. ING's risk and control structure is based on the 'three lines of defence' governance model, whereby each line has a specific role and defined responsibilities and the execution and control of tasks are separated. At the same time, the three lines have to work closely together to identify, assess and mitigate risks. This governance framework is designed to manage risk in line with ING's overall risk appetite as approved by the Management Board Banking, Executive Board and Supervisory Board. Symbol: Climate Event Input: While the transformation of our systems will continue beyond 2021, we are committed to remaining within the guided transformation investment spend of €1.4 billion equating to an average of 50 to 60 basis points of Common equity tier 1 (CET1) capital annually until 2021. We expect that investment in transformation beyond 2021 will be at a lower level. Symbol: Climate Event Input: In this document, section 4.3.1.3 (1) Financing and Investment Transactions Prohibited Regardless of Sector lists projects for which we prohibit any financing or investment. Sections 4.3.1.3 (2) Financing and Investment Transactions which Require Additional Due Diligence Regardless of Sector and 4.3.1.3 (3) Policies on Specific Industrial Sectors describe our practices for determining whether to engage in transactions with clients/projects in subject sectors, accounting for the degree to which the client has taken steps to avoid or mitigate risk and other due diligence as appropriate, based on the characteristics of the services we are providing. Symbol: Climate Event Input: United Nations Environment Programme FI LENDING PILOT CASE STUDY: TD and Bloomberg Testing Geospatial Mapping for Physical Risk Assessment1 TD collaborated with Bloomberg and Acclimatise to use an innovative geospatial solution for assessing physical risks of climate change (from both incremental changes and extreme weather events) to borrower credit ratings within the bank's lending portfolio. Symbol: Not Climate Event Input: Water is an essential input for our industrial activities. Concerns regarding the long-term availability and quality of water, and security of access to water, have increased due to changes to demography and climate. Damage caused by storm surges and strong winds can affect the availability of ports and critical infrastructure required to transport our goods. Changes in temperature can lead to heat stress affecting our workforce and equipment. Symbol: Not Climate Event Input: A top risk is defined as having: (i) the potential to have a material impact, across a business area or geographical area, on the financial results, reputation or sustainability of the Group; (ii) the potential of occurring in the near future. Symbol:	Climate Event
Input: In terms of physical risks, extreme weather events such as typhoons and floods have the potential to become more serious. Such events could lower production capacity at the Group’s manufacturing bases and trigger an increase in costs from damages. Moreover, in regions where there is a heightened water risk owing to fluctuations in rainfall, production activity at our manufacturing bases may be limited by restrictions on water use as a result of drought. Symbol: Not Climate Event Input: We recognize that there is potentially a lot of uncertainty regarding how to quantify these impacts and that reasonable people can differ in their assessments. As our collective knowledge and understanding of these mechanisms evolve, it is possible that the quantification of these scenarios may also change. Symbol: Climate Event Input: A challenge for today, not tomorrow Aviva has a long-term commitment to tackle climate change. In 2015, we announced an investment target of £500 million annually for the next five years in low-carbon infrastructure. We also set an associated carbon savings target for this investment of 100,000 tonnes of CO2e annually. In 2017, Aviva Investors signed £527.5 million of new investment in wind, solar, biomass and energy efficiency. Aviva continues to manage the impact of our business on the environment. Our Corporate Responsibility, Environment and Climate change business standard focuses on the most material operational environmental impacts, which we have identified as greenhouse gas emissions. We report these as carbon dioxide equivalent emissions (CO2e) on an operational basis in respect of Aviva’s Group-wide operations. See the table below. Symbol: Not Climate Event Input: IAG is exposed to multiple risks relating to its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: In addition, we have been gradually introducing RPA, which uses robots to automate a series of tasks previously performed by employees, resulting in a reduction in work hours of approximately 300,000 hours in the fiscal year ended March 31, 2020. Going forward, we will continue to promote automation and labor savings in data input operations to improve administrative efficiency. Symbol: Climate Event Input: Suzano also is involved and spearheads external activities - such as working groups and research partnerships - working with industry associations (e.g., Iba, CEBDS, Brazilian Coalition on Climate, Forests and Agriculture, etc. Symbol: Not Climate Event Input: 4. While Canadian financial regulations are considered to be best in kind, they may pose an obstacle for financial institutions in adapting to the fintech ecosystem. The study found that there is a growing disconnect between regulations and the latest technological advances. Current regulations make it difficult for Financial Firms to undertake the low-level, rapid experimentation required to develop safe, useful fintech products and services. Symbol: Climate Event Input: The cost of the loan is associated with a Greenhouse gas emissions reduc- tion target of 1 million metric tons by 2025; o another $750 million SLL was syndicated for Finnish forest industry company UMP. Symbol: Not Climate Event Input: We have defined key sustainability areas in our 5-Year Business Plan in line with the expectations and requirements of stakeholders and based on the importance and affinity of such initiatives with our strategy, as well as on the medium- to long-term impact on our corporate value. Based on this, each in-house company, unit, and group will establish a strategy incorporating sustainability initiatives. Additionally, we have set targets/KPIs based on our key sustainability areas. The key sustainability areas and other items are revised each fiscal year and reflected into our business plan. Symbol:	Not Climate Event
Input: Strategy and objectives In relation to the risks and opportunities described above, Eni has defined a path to decarbonization and pursues a clear and well-defined climate strategy, integrated with its business model, which is based on the following drivers: - reduction in direct GHG emissions; from 2014 to 2017 the actions taken have enabled the GHG emission intensity index of the upstream sector to be reduced by 15%; the goal is to reduce this rate by 43% by 2025 compared to 2014 through projects to eliminate process flaring, reduce fugitive emissions of methane (for the upstream segment, by 80% in 2025 compared to 2014) and energy efficiency projects; in total the investments in support of these targets add up to an expenditure of about €0.6 billion in 2018-2021, at 100% and with reference only to upstream operated activities; Symbol: Not Climate Event Input: Compliance risk Compliance risk is the risk of failure to comply with applicable rules and regulations, and in so doing, exposing the group to penalties and reputational damage. Penalties received or due for non-compliance are an example of this risk. As a leading financial services group, the group faces complex challenges to ensure that its activities comply with local legislation, regulations and supervisory requirements and the relevant international standards and requirements. Symbol: Climate Event Input: DRAFT 1 d4a Changing regulatory requirements AnnualReport- We take our regulatory obligations seriously and manage non-compliance with regulatory requirements as a risk, with supporting risk appetite statements set by the Board. Symbol: Climate Event Input: LafargeHolcim is exposed to a variety of regulatory frameworks to reduce emissions. In addition, a perception of the sector as a high emitter could impact our reputation, thus reducing our attractiveness to investors, employees and potential employees. Based on TCFD framework and risk categorization, LafargeHolcim assesses all climate-related risks. See page 67 the most relevant risks associated with our business. Symbol: Not Climate Event Input: In 2018, CN spent approximately $3.5 billion in its capital program, with $1.6 billion invested to maintain the safety and integrity of the network, particularly track infrastructure. CN's capital spending also included $1.0 billion on strategic initiatives to increase capacity, enable growth and improve network resiliency, including line capacity upgrades and information technology initiatives, $0.5 billion on equipment capital expenditures, including the acquisition of 500 new centerbeam cars and 65 new high-horsepower locomotives, and $0.4 billion on implementation of Positive Train Control (PTC), the safety technology mandated by the U.S. Congress. Symbol: Climate Event Input: As part of this strategy, over the past few years Bankinter has taken part in pilot projects to develop guidelines and methodologies to analyse the indirect impacts of the financial sector. Symbol: Climate Event Input: Our ESO RIIO-2 plan proposes new activities that will generate net benefits of around £2 billion for consumers over the five-year RIIO-2 period and spend over its two-year price control (2021–2023) of £514 million. The ambitious ESO plan focuses on how the ESO must evolve to meet the challenges of the changing energy landscape. Supported by a new, bespoke regulatory model designed to drive the right behaviours and outcomes, the ESO will facilitate the transition to a zero-carbon power system. Under RIIO-2, the ESO will lower average annual consumer bills by around £3. Symbol: Not Climate Event Input: A reduction in GHG emissions relies on the commercial viability and scalability of emission reduction strategies and related technology and products. In the event that we are unable to implement these strategies and technologies as planned without negatively impacting our expected operations or cost structure, or such strategies or technologies do not perform as expected, we may be unable to meet our GHG 2030 targets or 2050 ambition on the current timelines, or at all. Symbol: Not Climate Event Input: Work on our approach to becoming a net zero carbon business will include the development of new targets to replace and supplement our existing ones. These will be set and made public during the current financial year. Symbol:	Not Climate Event
Input: New climate ambition for Danica Pension In 2019, Danica Pension announced that they will increase their climate ambitions by raising investments in the green transformation to DKK 100 billion in the period towards 2030. The investment ambition is dependent on attractive investment opportunities that support international climate goals and can generate attractive returns on customers’ pension savings. Symbol: Not Climate Event Input: Citi is focused on enabling progress in the communities in which we work and live. Together with companies, governments and institutions of all shapes, sizes, scale and scope, we lend, facilitate and invest in products and services that power the global economy. We also recognize that we can play an important role in working with others to address key social and economic challenges facing clients and communities. goal to lend, facilitate and invest $100 billion toward activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities. Symbol: Not Climate Event Input: R I S K - I N F O R M E D D E C I S I O N M A K I N G To achieve our business objectives and performance goals, we must ensure that our business strategies are aligned with the risks we face. Symbol: Climate Event Input: We define short term as up to a year aligned with budget; medium term as 3-4 years aligned with budget planning; long term as 5-7 years aligned with strategic planning; and, for ad hoc analysis, we define longer term as beyond 7 years. Symbol: Climate Event Input: 13. CLIMATE ACTION 13.1. Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries. 13.3. Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning. 13.a. Implement the commitment undertaken by developed-country parties to the United Nations Framework Convention on Climate Change (UNFCCC) to a goal of mobilizing jointly $100 billion annually from 2020 on from all sources to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation and fully operationalize the Green Climate Fund through its capitalization as soon as possible. 13.b. Promote mechanisms for raising capacity for effective climate change-related planning and management in least developed countries, including focusing on women, youth and local and marginalized communities. Symbol: Not Climate Event Input: Our new policy measures outlined on page 1 will play a key role in shaping our portfolio over the coming years and help ensure we stay on track to meet our longer term goal. Symbol: Climate Event Input: We have and could suffer losses due to operational risks Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. It also includes, among other things, reputational risk, technology risk, model risk and outsourcing risk, as well as the risk of business disruption due to external events such as natural disasters, environmental hazard, damage to critical utilities, and targeted activism and protest activity. While we have policies, processes and controls in place to manage these risks, these may not always have been, or continue to be effective. Symbol: Not Climate Event Input: We meet the financing needs of our customers with a broad and modern product range. The focus of the portfolio is on traditional owner-occupied home financing and the financing of real estate capital investments (residential mortgage loans and investment properties with a total EaD of €61bn). We provide our business customers with credit in the form of individual loans with a volume of €14bn. In addition, we meet our customers’ day-to-day demand for credit with consumer loans (consumer and instalment loans, credit cards to a total of €10bn). Symbol: Climate Event Input: In SMBC's Credit Policy, which contains our overall financing policy, guidelines and rules, we declare that we will cease to provide financial support to borrowers engaged in businesses contrary to public responsibility, or which may have a significant negative impact on the global environment. Symbol:	Not Climate Event
Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: Affordable and Clean Energy (SDG7) and Clean Water and Sanitation (SDG6): From 2007 through the end of 2030, we will have financed more than $445 billion to low-carbon, sustainable business activities in support of energy efficiency, renewable energy and sustainable transportation, and in other areas including water conservation, land use and waste. In our own operations, we are carbon neutral as of 2020. Symbol: Not Climate Event Input: In late 2017, CN committed to purchasing 200 new alternating current traction locomotives over the next three years to accommodate future growth opportunities and drive operational efficiency across the system. CN’s order is the largest among Class I railways since 2014. These high-horsepower engines are equipped with advanced digital technologies to optimize power distribution, train handling, brake control and fuel utilization. Symbol: Climate Event Input: Climate change is already a measurable global reality and our home country, South Africa, along with other developing countries, is likely to see a more pronounced impact due to the perceived lack of financial resilience. South Africa has an energy-intense economy and, as such, is a significant contributor to global carbon emissions. Symbol: Not Climate Event Input: Loan Business In line with the Group Credit Policy adopted based on the Board of Directors resolution, 'Our Fundamental Stance of Loan Business' clarifies the Group's intention to maintain a dialogue with customers who have not yet fully committed to addressing social and environmental issues with the purpose of encouraging their involvement. In addition, it explains the Group policy of abstaining from extending new loans to projects deemed to be exerting a major negative impact on the environment. Specifically, the Group will no longer finance projects associated with coal-fired thermal power generation, except when it finds compelling reasons for financing such projects, such as to realize economic restoration following a disaster. The Group is engaged in the screening and selection of candidate projects accordingly. Symbol: Not Climate Event Input: Until the end of March 2021, a total of 29 institutions, including domestic and foreign automobile manufacturers, automotive component manufacturers, and universities, will participate in these field operation tests to acquire test data, conduct analysis, and report test results. In addition, they are planning to carry out activities such as holding test drives and demonstration events and disseminating information to develop public acceptance of automated driving. Symbol: Climate Event Input: The Group Compliance SU (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control framework, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk across the entire Group. Symbol: Climate Event Input: Citi is on track to meet our climate-related targets. We will continue to set new goals and report new metrics as the need and opportunity arises to help us manage our climate change risks, opportunities and responsibilities. We will also continue to evaluate how we can create new and better metrics and targets to review and report on our climate- related strategy as it evolves. Symbol: Not Climate Event Input: Operations and Greenhouse gas Emissions: To ensure we remain a leader in implementing sustainability practices and reducing operational risk, our Services Division is committed to minimizing the impact of our operations on the environment and adopting best practices. We have been carbon neutral across our global operations and business travel since 2015, and are progressing on our 2020 operational goals. Additionally, alongside the sustainable finance target, we announced new operational goals for 2025, with a focus on strategic, collaborative partnerships that drive market transformation. See Our Operational Impact. Symbol:	Not Climate Event
Input: Environmental, Social, and Governance Data Factory S&P Global's cross divisional effort to identify opportunities and risks in Environmental, Social, and Governance is supported by a common data and technology backbone. Environmental, Social, and Governance Data Factory feeds S&P Global's Environmental, Social, and Governance offerings. Data sets include public- and private- company data, asset level Symbol: Not Climate Event Input: Ultimately, sustainable growth is also about culture and tone from the top. Leaders across the bank promote our efforts, articulate its importance and champion the work needed to deliver sustainable growth well into the future. Symbol: Climate Event Input: Energy efficient by design We focus on achieving high sustainability standards on our developments, optimising energy efficiency and generating renewable energy on site, rather than buying offsets for carbon neutrality. Our approach delivers cost savings for occupiers, well managed buildings for the people who work, shop and live in them and better assets for investors. We have delivered energy savings for occupiers of £13 million over six years, at the same time as optimising lighting, temperatures and air quality for wellbeing and efficiency. We are also improving energy modelling and piloting Soft Landings to close the gap between efficient design and performance. Symbol: Not Climate Event Input: - - A new loan or a subsequent decision for an existing loan is then approved depending on the extent of the risk ('risk exposure') by the relevant decision-making level (Senior Manager, Vice President, Team Head, Head of Division or Head of Department, Group Credit Risk Committee, entire Executive Board, Board of Supervisory Directors). Symbol: Climate Event Input: Project using non-mechanized mining technology More than 2 new coal mine projects with underground mining face Project using backward production process equipment for coal mining While restricting the underwriting and investment in the coal industry, Ping An continuously optimizes financial resources to support the development of renewable energy. Symbol: Not Climate Event Input: At the Telefonica, S.A. Group, the strategy includes adaptation measures relating to physical and transitional changes. The main measures include the Business Continuity Plan for Climate Disasters and the Energy Efficiency and Renewable Energy Plan. Symbol: Not Climate Event Input: JPMorgan Chase believes that companies must do even more to help solve today’s biggest challenges and create economic opportunity for more people. To do so, they must invest in communities the same way they invest in their own businesses. As announced in early 2018, our firm will deploy $1.75 billion by 2023 to drive inclusive growth in communities around the world. Generating Return on Community is one of our core objectives because we know that the future of our company depends on the well-being of our communities. Symbol: Climate Event Input: We have devoted significant resources to develop our risk management capabilities and expect to continue to do so in the future. Nonetheless, our risk management strategies, models and processes, including our use of various risk models for assessing market exposures and hedging strategies, stress testing and other analysis, may not be fully effective in mitigating our risk exposure in all market environments or against all types of risk, including risks that are unidentified or unanticipated. Symbol: Climate Event Input: The strategy involves not only a reduction of the Carbon dioxide footprint of the portfolio but also an innovative approach to aligning the portfolio with the two degree carbon reduction scenario in the future. Symbol:	Not Climate Event
Input: From a business continuity standpoint, MGC has identified production downtime due to drought or flooding of production facilities as a water-related risk, formulated the business continuity plan (BCP) that addresses this risk and implemented measures to mitigate it. None of the areas in which MGC’s plants are located has experienced either adverse impacts on production activities due to water stress or conflicts with stakeholders regarding use of water resources. Symbol: Not Climate Event Input: Like many of our customers, shareholders, and team members, we are concerned about climate change and other environmental challenges affecting our planet. We’ve launched the “Greener Every Day” campaign to educate and inspire our team members to join our environmental efforts by making simple changes in their behavior each day at home, work, and in the community. Our goal is for team members to make a total of 250,000 commitments to improve sustainability by 2020. Symbol: Not Climate Event Input: By their very nature, these forward-looking statements require assumptions to be made and involve inherent risks and uncertainties, both general and specific. Assumptions about the performance of the Canadian and U.S. economies in 2020, including in the context of the COVID-19 pandemic, and how that affect the Bank's business are among the main factors considered in setting the Bank's strategic priorities and objectives. Symbol: Climate Event Input: The initiative has four working groups; government bonds, listed equities and corpo- rate bonds real estate and strategic asset alloca- tion. Representatives from AP2 participate in the steering group and in the working groups for government bonds and real estate. Symbol: Climate Event Input: 1.4.2 Health, safety and security of employees and subcontractors Health and safety Employees of VINCI companies and subcontracting companies are required to work on the increasingly complex projects and operations that the Group carries out. This can threaten their health, safety, hygiene and the quality of their life at work. The health and safety coordinators of the Group’s business lines have identified several types of risk considered as major (see the column “Identifying risks” in the table below). Symbol: Climate Event Input: JPMorgan Chase believes that companies must do even more to help solve today’s biggest challenges and create economic opportunity for more people. To do so, they must invest in communities the same way they invest in their own businesses. As announced in early 2018, our firm will deploy $1.75 billion by 2023 to drive inclusive growth in communities around the world. Generating Return on Community is one of our core objectives because we know that the future of our company depends on the well-being of our communities. Symbol: Climate Event Input: MARKE T: As the carbon debate intensifies, cement and concrete could be challenged by our customers as the building material of first choice because of perceived high embodied CO2. In the long term, should regulatory frameworks fail to incentivize consumption of low-carbon products, customers may be unwilling to pay for additional costs and the cement sector’s low-carbon roadmap might be compromised. Symbol: Not Climate Event Input: The EIB also supports innovative investment funds that are tackling adaptation challenges. A new fund called CRAFT, the Climate Resilience and Adaptation Finance & Technology Transfer Facility, is developing new technologies and specialised services to help developing countries address droughts, bad weather, disease, wind and solar energy. The European Investment Bank invested $30 million in CRAFT and also deployed €5 million via the Luxembourg-EIB Climate Finance Platform as risk capital that catalyses more money by drawing in private investors. Symbol: Not Climate Event Input: We are developing this approach through a pilot study to better understand the impact of different climate change pathways on our mortgage securities, housing association exposures and branch network to enable us to estimate the financial impact this may have. Symbol:	Not Climate Event
Input: If Philips is unable to ensure effective supply chain management, e.g. facing an interruption of its supply chain, including the inability of third parties to deliver parts, components and services on time, and if it is subject to rising raw material prices, it may be unable to sustain its competitiveness in its markets. Symbol: Climate Event Input: In terms of physical risks, extreme weather events such as typhoons and floods have the potential to become more serious. Such events could lower production capacity at the Group’s manufacturing bases and trigger an increase in costs from damages. Moreover, in regions where there is a heightened water risk owing to fluctuations in rainfall, production activity at our manufacturing bases may be limited by restrictions on water use as a result of drought. Symbol: Not Climate Event Input: This long-term perspective is reflected in the choice of strategic portfolio, which includes both the long-term distribution of capital over various broad asset classes as well as strategies that determine the distribution within each asset class of individual securities. Symbol: Climate Event Input: If we are unable to attract and retain qualified personnel or fail to maintain our company culture, our business could be harmed. We compete against other major U.S. airlines for pilots, mechanics, and other skilled labor; some of them offer wage and benefit packages exceeding ours. As more pilots in the industry approach mandatory retirement age, the U.S. airline industry may be affected by a pilot shortage. We may be required to increase wages and/or benefits in order to attract and retain qualified personnel or risk considerable crewmember turnover. If we are unable to hire, train, and retain qualified crewmembers, our business could be harmed and we may be unable to implement our growth plans. Symbol: Climate Event Input: The long-term ambition is clear (to align its businesses with the Paris Agree- ment goals), but to achieve that ambition calls for short and medium-term targets in more specific bu- siness lines, allowing the Group to steer its various business operations with greater precision. Symbol: Not Climate Event Input: As part of this strategy, over the past few years Bankinter has taken part in pilot projects to develop guidelines and methodologies to analyse the indirect impacts of the financial sector. Symbol: Climate Event Input: Human rights are being severely affected by climate change. Human rights outcomes related to climate impacts include the loss of land, forced migration, and loss of life and resources due to conflict. People also have their rights to livelihood and work affected. Consequently, human rights impacts are of primary concern in a just transition. Symbol: Not Climate Event Input: Energy policy Throughout FY2018, national energy policy remained highly topical within Australia. As policy makers seek to tackle the energy ‘trilemma’ and solve a decade-long failure to effectively integrate energy and climate policy, ongoing uncertainty prevails in the market. This affects investment decisions, prices and energy reliability for Australian consumers and businesses. Symbol: Not Climate Event Input: The CFO convened a Scenario Discussion Workshop where members of senior leadership discussed the Company's current state, considered possible future scenarios, identified different risks and opportunities within these scenarios, and discussed the financial implication of these impacts on the Company. Symbol:	Climate Event
Input: To speed up implementation of these solutions, even ahead of calls for tenders, we have established special financing mechanisms. Every year we allocate €2 million to E-Face, a fund that covers the cost differential between conventional solutions and more environmentally friendly alternatives. Similarly, the Seed’Innov fund aims to support all the Group’s low-carbon innovations, from the initial R&D stage and trials through to their introduction on the market. Symbol: Not Climate Event Input: The future of heat is uncertain, and its decarbonisation is reliant on relatively nascent technologies, such as hydrogen and carbon capture usage and storage, as well as biogas and heat pumps. These new and evolving technologies will need to be used in new contexts and on a scale that has not yet been demonstrated. We do not believe that any of these technologies can, in the next 30 years, reach sufficient scale to represent an existential threat to our gas businesses. Symbol: Not Climate Event Input: The risk of credit loss or non-financial risks, such as reputational damage, arising from environmental, social and governance (ESG) issues, including climate change. While a key component of ESG risk arises indirectly from the financial services we provide to our customers, it can also result directly from our own operations. Symbol: Not Climate Event Input: Data: Advancements in new technologies and new services, an increasing external threat landscape, and changing regulatory requirements increase the need for the Group to effectively govern, manage, and protect its data (or the data shared with third-party suppliers). Failure to manage data risk effectively can result in unethical decisions, poor customer outcomes, loss of value to the Group and mistrust. Symbol: Climate Event Input: Climate-related physical risks are those risks resulting from climate change, which involve event-driven (acute) or longer-term (chronic) shifts in climate patterns. Acute physical risks refer to those that are event-driven, including increased severity of extreme weather events such as cyclones, hurricanes or floods. Chronic physical risks refer to longer-term shifts in climate patterns (e.g., sustained higher temperatures) that may cause sea level rise or chronic heat waves. Symbol: Not Climate Event Input: 4. While Canadian financial regulations are considered to be best in kind, they may pose an obstacle for financial institutions in adapting to the fintech ecosystem. The study found that there is a growing disconnect between regulations and the latest technological advances. Current regulations make it difficult for Financial Firms to undertake the low-level, rapid experimentation required to develop safe, useful fintech products and services. Symbol: Climate Event Input: A material portion of this network is still relatively immature and there are risks that may develop over time. For example, it is possible that branches may not be able to sustain the level of revenue or profitability that they currently achieve (or that it is forecasted that they will achieve). Symbol: Climate Event Input: - African Americans, Asians, and Hispanics/Latinos combined make up 13.7% of the aircraft pilots and flight engineers in the U.S. - Women make up 3% of aircraft mechanics and service technicians. Symbol: Climate Event Input: We contract the delivery of our raw materials and products to transportation companies and are striving to reduce Carbon dioxide emissions as a specified consigner designated under the Japanese Energy Saving Act. Major efforts include implementing a plan to transport goods on return trips, encouraging drivers to eco-drive, and promoting energy efficient devices such as digital tachometers and eco-tires on vehicles. In shipping we continue to pursue energy efficiency technologies and operate new ships that are equipped with many energy-saving features. We are also supporting energy-saving operations for conventionally powered ships. Symbol:	Not Climate Event
Input: In Europe, as new legislative initiatives have been brought in, we have sought to maximize the opportunities for digital dissemination. BlackRock produces approximately 50,000 Undertakings for the Collective Investment in Transferable Securities ('UCITS') Key Investor Information Documents a year in multiple languages and we use our website as our primary delivery mechanism. We have also consistently advocated for key information disclosure documents, including UCITS, packaged retail investment, and insurance-based investment products and pan European personal pension products to be designed on a digitally friendly basis rather than on a paper basis.65 Symbol: Climate Event Input: 1.4.2 Health, safety and security of employees and subcontractors Health and safety Employees of VINCI companies and subcontracting companies are required to work on the increasingly complex projects and operations that the Group carries out. This can threaten their health, safety, hygiene and the quality of their life at work. The health and safety coordinators of the Group’s business lines have identified several types of risk considered as major (see the column “Identifying risks” in the table below). Symbol: Climate Event Input: The sectors most negatively impacted by 2050 as a result of carbon pricing and related policies include fossil fuel intensive industries such as coal mining, carbon intensive power generation, and oil and gas exploration and production. The utilities sector experiences a high variation in impact, with the least carbon intensive companies experiencing positive growth. Within the transport sectors, air transportation is more affected than shipping, with road and rail transportation least affected due to the relative availability of electrification. Symbol: Not Climate Event Input: Climate change also threatens our food system which must produce 50% more food to feed over 9 billion people by 2050. However, changing weather patterns and growing seasons threaten suitable cultivation areas around the world. Business can spur positive change and achieving food security could create 80 million jobs and business opportunities worth $2.3 trillion annually by 2030. Linked to climate change is water scarcity, a threat to 3.2 billion people. If current usage continues the world will have only 60% of its required water by 2030. See pages 30 and 33 to 35 for more on climate change risks. Symbol: Not Climate Event Input: In addi- tion, analyses of various trends will be performed periodi- cally in the future in order to revise assessments and disclose information on risks and opportunities related to other areas. Symbol: Climate Event Input: For our stakeholders: for customers, breaches in security may cause personal loss (both financial and emotional). There may also be consequences for relations with suppliers and intermediaries. For investors, any loss of business or reputation could result in lower returns. PSD2 will increase consumers’ control over financial data, but also their responsibility for this data. Symbol: Climate Event Input: On 24 July 2019, we entered into two new senior debt facilities agreements, a £375 million private placement with infrastructure lenders with maturities between 2024 and 2029, and a £125 million ESG facility agreement that matures in 2022. The ESG facility includes a mechanism that adjusts the margin based on carbon emissions against an annual benchmark. Symbol: Not Climate Event Input: BNP Paribas work together withe banks having signed the Katowice Commitment to test and recom- mend to test and recommend ways to improve the general methodology developed by the 2 Degrees Investing Initiative. Symbol: Not Climate Event Input: This transition does not, however, automatically translate into a financial risk for us. For example, motor insurance is the most important business line of the re/insurance sector globally. According to Swiss Re's sigma database, it currently represents approximately 33% of global non-life gross written premiums and is expected to grow further, albeit at a lower rate. Symbol:	Climate Event
Input: In addition, we have been gradually introducing RPA, which uses robots to automate a series of tasks previously performed by employees, resulting in a reduction in work hours of approximately 300,000 hours in the fiscal year ended March 31, 2020. Going forward, we will continue to promote automation and labor savings in data input operations to improve administrative efficiency. Symbol: Climate Event Input: Thus, the Board of Directors, upon recommendation of its Compensation & Governance Committee, and following a comparative review of national, European and industry practices, decided to maintain unchanged, for 2020, the Chief Executive Off icer’s target annual variable compensation, at €1.45 million, i.e. 100% of the amount of his annual fixed compensation. Symbol: Climate Event Input: ING issued a dual tranche five-year EUR 500 million and three-year USD 800 million green bond. This is ING’s first-ever green bond transaction. The money raised will go to projects in six categories eligible under ING’s newly established green bond framework, including renewable energy, green buildings, public transport, waste, water and energy efficiency. We have chosen a broad selection of sectors, which reflects our ambition to support sustainability across all industries and sectors. Symbol: Not Climate Event Input: International political, social and economic risks Equinor has international interests located in regions where political, social and economic instability could adversely affect Equinor’s business. Equinor has assets and operations located in diverse regions globally where potentially negative economic, social, and political developments could occur. These political risks and security threats require continuous monitoring. Uncertainty exists around the UK`s exit from the EU and the potential market impact. Symbol: Climate Event Input: At the same time, Equinor aims to continue to improve the efficiency, reliability, carbon emissions, and lifespan of fields already in production. During 2019, Equinor updated the climate ambitions for Norway. Driven by a large remaining resource potential on the NCS, Equinor aims to reduce the absolute greenhouse gas emissions from its operated offshore installations and onshore plants in Norway with 40% by 2030, 70% by 2040, and towards near zero by 2050, compared to 2005. The 2030 ambition alone is expected to require investments of around NOK 20 billion Equinor share, in projects within energy efficiency, electrification, infrastructure consolidation, digitalization, and new value chains, such as CCS and Hydrogen. Symbol: Not Climate Event Input: Uncertainty around the evolution of the wholesale market design, given the current challenges: • Marginal remuneration system not adjusted to the current context of growing penetration of fixed cost technologies (renewables, backup, storage). • Growing penetration of technologies with 0 marginal cost (reducing prices and increasing prices’ volatility). • Uncertainty around the returns of the conventional generation, in particular as backup capacity (relevant in a perspective of ensuring security of supply). • Volatile context, not suitable for long-term investments necessary to the modernization, decarbonization and security of supply. Symbol: Not Climate Event Input: An inclusive culture at 3M is built on our Be Respectful Principles - to respect the dignity and worth of individuals; encourage the initiative of each employee; challenge individual capabilities; and provide equal opportunity. Symbol: Climate Event Input: In 2020, we invested £880,000 in delivering over 20 energy efficiency projects including a boiler upgrade, building management systems optimisation, improved lighting controls, and the installation of LEDs. These are expected to result in annual energy savings of 2,250,000 kWh. Over the next 12 months, we will pursue ISO 50001 accreditation at our commercial offices. Symbol: Not Climate Event Input: Supporting the Low-Carbon Transition Our business units are on pace to meet our commitment to mobilize $250 billion to support low-carbon solutions by 2030. They are building expertise, supported by GSF and the Institute for Sustainable Investing, to serve our clients' growing interest in Environmental, Social, and Governance issues and in climate change specifically. Survey data from the Institute suggests rapidly accelerating interest in climate-focused solutions among asset managers, asset owners and individual investors. In response, we are developing accessible new products, such as Morgan Stanley Impact Quotient (see page 15). Our early work in 2013 in scaling green- bond financing has catalyzed new opportunities and continues to drive sector innovation in green and sustainable bonds. Symbol:	Not Climate Event
Input: Our new policy measures outlined on page 1 will play a key role in shaping our portfolio over the coming years and help ensure we stay on track to meet our longer term goal. Symbol: Climate Event Input: Future Opportunities from Product Development As a leading provider of data & analytics, S&P Global recognizes the role they play in designing products and solutions that will help our clients mitigate the challenges from climate change and drive opportunities as the world transitions to a low carbon economy. Symbol: Not Climate Event Input: Business risk is the risk arising from changes in external factors (the macroeconomic environment, regulations, client behaviour, competitive landscape, socio-demographic environment, climate, etc.) that impact the demand for and/or profitability of our products and services. Strategic risk is the risk caused by not taking a strategic decision, by taking a strategic decision that does not have the intended effect or by not adequately implementing strategic decisions. quantified under different stress test scenarios and long-term earnings assessments. Symbol: Not Climate Event Input: Risks are assessed at least annually. Please refer to Section 6.1 Our approach to risk management, 6.2 Risk categories and factors, 6.3 Strategic risks, 6.4 Operational risks, 6.5 Compliance risks, and 6.6 Financial risks. Symbol: Climate Event Input: Risks to the Group’s reputation Risks include acts or omissions by the Group or any of its employees that could damage the Group’s reputation or lead to a loss of trust among its stakeholders. Every risk type has potential consequences for Zurich’s reputation. Effectively managing each type of risk helps reduce such threats. Symbol: Climate Event Input: Among the important risks identified in STEP 1, we recognize rising raw material prices due to a decline in the harvest of agricultural materials and increased costs owing to the introduction of a carbon tax, which have a particularly high impact on our businesses. We therefore evaluated this business impact as follows. Symbol: Not Climate Event Input: Unfortunately, this progress has come at a cost. Carbon emissions have tripled since 1960. We are now consuming about 1.75 times as many natural resources in a year as the planet can possibly regenerate – which is driving land and biodiversity loss, resource shortages and climate change. This is not sustainable, especially with the global population forecast to increase by a further 50% this century. And although people are living longer, they’re not always healthier or happier: there’s been an increase in chronic disease, while mental health issues are also on the rise. Symbol: Not Climate Event Input: Business Risk Business risk describes the risk we assume due to potential changes in general business conditions, such as our market environment, client behavior and technological progress. This can affect our results if we fail to adjust quickly to these changing conditions. Business risk consists of strategic risk, tax risk and refinancing risk, of which only strategic risk is assessed as material. Symbol: Climate Event Input: 2 footprint of the portfolio but also an innovative approach to aligning the portfolio with the two degree carbon reduction scenario in the future. - AM engages with companies in which it invests on behalf of clients to discuss approaches to mitigating climate-related risk, as well as actively voting on shareholder resolutions to improve transparency and disclosure around climate-related reporting. Specif- ically in the context of the Climate Aware fund, UBS Asset Management has implemented an engagement program with 50 oil & gas and utilities companies under- weighted in the fund. Dialogue with companies aims at improving companies' disclosure and performance alignment with the Task Force on Climate-related Financial Disclosures recommendations. Engage- ment makes it possible to share the results of the quanti- tative and qualitative assessments included in the fund methodology with investee companies too. This allows for the verification of company performance with additional information collected before and after meetings. It also means AM can collect feedback, explicitly com- municate objectives for change in corporate practices and further enhance the model used to inform the under / overweights in the strategy. Symbol:	Not Climate Event
Input: Future work Climate continues to be high up on AP2's agenda and the implementation of Task Force on Climate-related Financial Disclosures is part of the Fund's on-going work. In 2020 focus will be on implementing the new sustainability strategy with a strong focus on climate. Among other things, the Fund is further developing its internal indices with a sustainability profile with the ambition of complying with the criteria of EU Paris Aligned Benchmark. Asset management works actively, in different ways, to include climate risks and opportunities in its analyses and to find investment opportunities for different asset classes. Integrating climate analysis into the overall ALM analysis will continue to be develo- ped. The Fund also intends to further develop views on what are significant climate risks and opportunities for more asset classes/sectors/ geographies and their time horizons. Symbol: Not Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk and accepting that it is not in line with our vision and values. Symbol: Climate Event Input: If we are unable to attract and retain qualified personnel or fail to maintain our company culture, our business could be harmed. We compete against other major U.S. airlines for pilots, mechanics, and other skilled labor; some of them offer wage and benefit packages exceeding ours. As more pilots in the industry approach mandatory retirement age, the U.S. airline industry may be affected by a pilot shortage. We may be required to increase wages and/or benefits in order to attract and retain qualified personnel or risk considerable crewmember turnover. If we are unable to hire, train, and retain qualified crewmembers, our business could be harmed and we may be unable to implement our growth plans. Symbol: Climate Event Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk, as it will not be in line with our vision and values. Symbol: Climate Event Input: Like many of our customers, shareholders, and team members, we are concerned about climate change and other environmental challenges affecting our planet. We’ve launched the “Greener Every Day” campaign to educate and inspire our team members to join our environmental efforts by making simple changes in their behavior each day at home, work, and in the community. Our goal is for team members to make a total of 250,000 commitments to improve sustainability by 2020. Symbol: Not Climate Event Input: Climate change may also lead to temperature increases, droughts, floods, hurricanes, etc., which may shift access to and alter cycles of different kinds of crops, rendering certain crop fields unusable for agriculture. Merchandise transportation may be affected as well if extreme weather conditions interfere with accessibility. Deciding whether to open a new store or not may be hindered if flood risks increase. Symbol: Not Climate Event Input: The Group is focusing its efforts on not only improving the percentage and quality of client coverage, but also gaining a better understanding of projected trends in each sector. The results of these efforts will serve to develop sector strategies and measure their impacts on the alignment of the loan book with the Paris Agreement goals. Symbol: Not Climate Event Input: - African Americans, Asians, and Hispanics/Latinos combined make up 13.7% of the aircraft pilots and flight engineers in the U.S. - Women make up 3% of aircraft mechanics and service technicians. Symbol: Climate Event Input: The extent to which climate-related factors will impact our clients, customers and the Firm remains uncertain; however, JPMorgan Chase has several initiatives underway that focus on understanding risks that may be driven by climate change. In the following section we outline our approach to risk management and discuss some of the efforts we are undertaking to better understand climate-related impacts within our current risk management framework. Symbol:	Not Climate Event
Input: We aim to promote equal opportunities by inspiring underrepresented groups to take up STEM fields by exposing them to aviation employment options and opportunities. By fueling the pipeline today through our support of educational initiatives and STEM programs, we will help to ensure more diverse perspectives in the hangars and boardrooms of the future. Symbol: Climate Event Input: Changes in precipitation patterns and extreme weather conditions such as floods, storms, droughts and fires may impact our plantations and the forests we source wood from and could result in fibre supply chain interruptions and higher fibre costs. Higher temperatures may also increase the vulnerability of forests to pests and disease. Increased severity of extreme weather events may also interrupt our operations. In water-scarce countries, we may see an impact on our production process as a result of limited water availability. Symbol: Not Climate Event Input: The inability to reform mortgage markets has dramatically reduced mortgage availability. In fact, our analysis shows that, conservatively, more than $1 trillion in additional mortgage loans might have been made over a five-year period had we reformed our mortgage system. J.P. Morgan analysis indicates that the cost of not reforming the mortgage markets could be as high as 0.2% of GDP a year. Symbol: Climate Event Input: The inte- rest rate on the loan is tied to two key perfor- mance indicators: (i) achieving a net positive impact on biodiversity in UPM's Finnish forests; (ii) reducing Carbon dioxide emissions generated from pur- chased fuel and electricity 65% by 2030 (com- pared to 2015 levels), in accordance with UPM's commitment to aligning its business with the 1.5 C climate scenario. Symbol: Not Climate Event Input: Through these initiatives, Konica Minolta is aiming to achieve the business targets of more than ¥75 billion in operating profit, ¥50 billion in profit attributable to owners of the company, and ROE of 9.5% by fiscal 2019, the final year of the Medium Term Business Plan. Beyond this, we are looking to achieve a medium-term target of more than ¥100 billion in operating profit and more than ¥70 billion in profit attributable to owners of the company by fiscal 2021. Symbol: Climate Event Input: BNP Paribas work together withe banks having signed the Katowice Commitment to test and recom- mend to test and recommend ways to improve the general methodology developed by the 2 Degrees Investing Initiative. Symbol: Not Climate Event Input: We may be subject to unionization, work stoppages, slowdowns or increased labor costs and the unionization of the Company’s pilots and inflight crewmembers could result in increased labor costs. Our business is labor intensive and the unionization of any of our crewmembers could result in demands that may increase our operating expenses and adversely affect our financial condition and results of operations. Any of the different crafts or classes of our crewmembers could unionize at any time, which would require us to negotiate in good faith with the crewmember group’s certified representative concerning a collective bargaining agreement. In addition, we may be subject to disruptions by unions protesting the non-union status of our other crewmembers. Any of these events would be disruptive to our operations and could harm our business. Symbol: Climate Event Input: A key part of our progress to meet our target, was the allocation of £250 million to real assets covering real estate, infrastructure, forestry and agricultural land to Townsend Group. The mandate places a high priority on long term responsible investments that meet our financial targets, with a preference to invest positively in sustainable real assets such as energy efficient buildings, renewable energy projects, public transport, water treatment facilities, eco-friendly farming, and sustainable forestry. A case study on our investment in the Threadneedle Low Carbon Workplace Fund is illustrated below. Symbol: Not Climate Event Input: In our outlook for impacts on our clients' business, we employed two scenarios: a static scenario which assumes that no attempt is made to transform the present business structure, and a dynamic scenario under which the business structure is transformed. Symbol:	Climate Event
Input: Climate Action Plan: IFC continues to focus on five strategic priority areas of climate business — clean energy, climate-smart agribusiness, green buildings, climate-smart cities, and green finance — as well as account for climate risk in key high-risk sectors. IFC’s climate strategy is part of the World Bank Group’s Climate Action Plan which ran through FY20. The WBG Climate Action Plan is being updated and will cover FY21-25. • FY20 own account investment in climate: $3.3 billion • FY20 mobilization of external private capital: $3.5 billion • Integrate climate in post-COVID rebuild • Target future market growth in nature-based solutions, carbon capture and storage, and electric vehicles Symbol: Not Climate Event Input: JetBlue's workforce is broadly diversified among several job classifications, with Airport Operations crewmembers as the largest group at 31.3%. Nearly all (99.2%) of JetBlue's workforce is based in the United States. For more information on our workforce and crewmembers, see page 39. (TR0201-05) Symbol: Climate Event Input: - CaixaBank voluntarily applies this procedure to sy - ndicated operations with a term of 3 years or more and when CaixaBank's individual commitment is between $7 million and $35 million. Symbol: Climate Event Input: Implement the commitment undertaken by developed-country parties to the United Nations Framework Convention on Climate Change to a goal of mobilizing jointly $100 billion annually by 2020 from all sources to address the needs of 13.A developing countries in the context of meaningful mitigation actions and transparency on implementation and fully operationalize the Green Climate Fund through its capitalization as soon as possible. Symbol: Not Climate Event Input: On February 8, 2018, the Government of Canada introduced legislation to revise the process for assessing major resource projects. If the legislation is passed in its current form, we believe it would have adverse impacts on pipeline companies, particularly in relation to the regulatory review process for proposed new projects that are “designated projects”, by making overall timelines for the development and execution of these projects longer and significantly increasing uncertainty. Symbol: Not Climate Event Input: To prepare for more electric vehicles on our roads, we’re testing new business models, working with New York City on curbside charging stations, building fast-charging depots—imagine a “gas” station for electric vehicles—plus supporting school bus and transit electrification. Earlier this year, our regulators approved another $52 million for electric vehicle programs. The efforts are part of a larger strategy to support the shift to electric vehicles and combat climate change. Symbol: Not Climate Event Input: Thus, the Board of Directors, upon recommendation of its Compensation & Governance Committee, and following a comparative review of national, European and industry practices, decided to maintain unchanged, for 2018, the Chief Executive Off icer’s target annual variable compensation, at €1.45 million, i.e. 100% of the amount of his annual fixed compensation. Symbol: Climate Event Input: New Chittoor facility During FY20, our eighth manufacturing facility in Chittoor district in Andhra Pradesh was commissioned with Phase I installed capacity of 0.4 million units. The total Phase I investment for setting up the manufacturing facility is around ` 622 crore for a projected 1.8 million units annual capacity. Symbol: Climate Event Input: United Nations Environment Programme FI LENDING PILOT CASE STUDY: TD and Bloomberg Testing Geospatial Mapping for Physical Risk Assessment1 TD collaborated with Bloomberg and Acclimatise to use an innovative geospatial solution for assessing physical risks of climate change (from both incremental changes and extreme weather events) to borrower credit ratings within the bank's lending portfolio. Symbol:	Not Climate Event
Input: We also offer on-lending through the ABC Program (Low Carbon Agriculture), the agribusiness line from BNDES to finance projects reducing greenhouse gas emissions from agriculture, livestock and deforestation by expanding cultivated forests and recovering degraded areas. In 2015, we signed the amount of, approximately, R$15 million through this program. For more information, please visit: www.bndes.gov.br/apoio/abc.html. Symbol: Not Climate Event Input: The Group Compliance SU (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control framework, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk across the entire Group. Symbol: Climate Event Input: The Bank will also use the scenarios and results from the 2021 BES to assess any vulnerabilities it may face on its own balance sheet. This will build on the work done to analyse the exposure of the Bank's investment portfolios to the risks from climate change, which are set out in Chapter 4. Symbol: Not Climate Event Input: Until the end of March 2021, a total of 29 institutions, including domestic and foreign automobile manufacturers, automotive component manufacturers, and universities, will participate in these field operation tests to acquire test data, conduct analysis, and report test results. In addition, they are planning to carry out activities such as holding test drives and demonstration events and disseminating information to develop public acceptance of automated driving. Symbol: Climate Event Input: Initial tests of the methodology involved a significant percentage of clients in each sector (more than 80% of outstanding loans). As a result, BNP Paribas has an overview of the loan book, with a benchmark scenario at a given date, in addition to the projection for that same portfolio five years later. The loan book will be made increasingly compatible with the Paris Agreement scenario through dynamic management of the loan book itself and through external technological developments. Symbol: Not Climate Event Input: The international community pledged €17 million in additional funds to help finance work aimed at reducing the risk of radiation from disused uranium-mining sites in the Kyrgyz Republic, Tajikistan and Uzbekistan. The funding was pledged at an event hosted by the EBRD, which manages the Environmental Remediation Account for Central Asia. Work at four sites will start in 2019. Symbol: Not Climate Event Input: The Audit Committee Charter states that the committee will 'discuss policies and procedures with respect to risk assessment and risk management, the company's major risk exposures, and the steps management has taken to monitor and mitigate such exposures.' The Vice President and General Auditor, Corporate Auditing, whose appointment and performance is reviewed and evaluated by the Audit Committee, is responsible for leading the formal risk assessment and management process within the company. Symbol: Climate Event Input: Data: Advancements in new technologies and new services, an increasing external threat landscape, and changing regulatory requirements increase the need for the Group to effectively govern, manage, and protect its data (or the data shared with third-party suppliers). Failure to manage data risk effectively can result in unethical decisions, poor customer outcomes, loss of value to the Group and mistrust. Symbol: Climate Event Input: During 2019, we participated in the Carbon Disclosure Project and aligned our responses to the Task Force on Climate-related Financial Disclosures recommendations. Our 2019 score was B (Global average is C), consistent with the previous year but with improvements in scores on a number of dimensions including risk disclosure and risk management processes. Symbol:	Not Climate Event
Input: We may be subject to unionization, work stoppages, slowdowns or increased labor costs and the unionization of the Company’s pilots and inflight crewmembers could result in increased labor costs. Our business is labor intensive and the unionization of any of our crewmembers could result in demands that may increase our operating expenses and adversely affect our financial condition and results of operations. Any of the different crafts or classes of our crewmembers could unionize at any time, which would require us to negotiate in good faith with the crewmember group’s certified representative concerning a collective bargaining agreement. In addition, we may be subject to disruptions by unions protesting the non-union status of our other crewmembers. Any of these events would be disruptive to our operations and could harm our business. Symbol: Climate Event Input: In May 2020, BBVA was the first private financial institution in Europe to issue a COVID-19-related social bond and, two months later, the Bank was the first financial institution to issue contingent convertible perpetual bonds (CoCos) classified as green bonds, for EUR 1 billion. The funds will be used to finance eligible green assets in BBVA's portfolio. The portfolio is diversified into assets from different green sectors: energy efficiency, renewable energy, sustainable transportation, waste management and water management. Symbol: Not Climate Event Input: DRAFT 1 d4a Changing regulatory requirements AnnualReport- We take our regulatory obligations seriously and manage non-compliance with regulatory requirements as a risk, with supporting risk appetite statements set by the Board. Symbol: Climate Event Input: JPMorgan Chase is committed to creating a more sustainable future for our employees, customers and communities. Our firm has committed to facilitate $200 billion in financing in 2020 to support the objectives of the United Nations’ Sustainable Development Goals, with a focus on addressing climate change and advancing social and economic development. Symbol: Not Climate Event Input: Mobilizing private and institutional capital: We mobilize capital to support environmental and social issues, including the transition to a low carbon economy. For example: - We offer 100% sustainable discretionary mandates and asset allocation funds based on our new dedicated SI Strategic Asset Allocation for private clients in Global Wealth Management (GWM). - Our GWM in collaboration with AM is developing a range of new thematic and pooled impact investments. - Our GWM has committed to integrating Environmental, Social, and Governance assess- ments, including a dedicated climate dimension, into all fund and ETF onboardings. - We have set a target of directing USD 5 billion of client assets into new impact investments for the Sustainable Development Goals by end of 2021. These investments include a significant climate component. - We participated in launching Align17 - a WEF Young Global Leaders initiative - an independent, third-party digital marketplace, which stands out in connecting a wider range of public, institutional, and private wealth investors with SDG-related investment opportunities. - Our AM and GWM businesses have in place a comprehen- sive approach to environmental and social factors and to corporate governance across investment disciplines. The 2018 GRESB (Global Real Estate Sustainability Benchmark) awarded ten of AM's real estate and infra- structure funds 5 - star ratings, and seven funds ranked first in their respective peer groups. Symbol: Not Climate Event Input: Over the last two years, the CGEN has encouraged the Group to make strong com- mitments when it comes to managing climate-re- lated risks and opportunities, in various ways: re- ducing support for the coal sector, strengthening the Group's climate goals, etc. Symbol: Not Climate Event Input: IFC expands the availability of such technologies by channeling investments toward private companies that build modern communications infrastructure and information-technology businesses. In FY18, we invested $376 million in initiatives related to technology, including funds mobilized from other investors — expanding our portfolio in this sector to more than $2.4 billion. Symbol: Climate Event Input: IAG is exposed to multiple risks relating to its businesses and pursuit of its strategic objectives. The risks noted below are not exhaustive, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: Thanks to these investments, we are able to swiftly transfer work to unaffected locations if required and to keep potential financial impacts to a minimum.Based on our proprietary loss modelling, we calculate the annual expected losses (AEL) and loss-frequency distributions of major weather-related natural catastrophes. Symbol:	Not Climate Event
Input: As part of this strategy, over the past few years Bankinter has taken part in pilot projects to develop guidelines and methodologies to analyse the indirect impacts of the financial sector. Symbol: Climate Event Input: In addition, to the physical risks mentioned previously, rising temperatures could cause an increase in our operation and maintenance costs. Rising temperatures are associated to the reduction of the cycle efficiency of our turbines, a reduction of efficiency in solar photovoltaic modules, lower efficiency in wind facilities and higher consumption of chemicals used for operational purposes in our desalination plants, among others. Symbol: Not Climate Event Input: Impacts of Risks are consequences of risks, both quantitative and qualitative. There may be many consequences of risks manifesting, such as a reduction in earnings and capital, liquidity outflows, and fines or penalties, or qualitative impacts such as reputation damage, loss of clients and customers, and regulatory and enforcement actions. Symbol: Climate Event Input: As part of this proactive approach, six years ago the Group introduced an 'internal carbon tax', a mechanism that it has built on and expanded in the intervening period. Each year, a carbon tax is levied on each of the Group's entities, based on their greenhouse gas emissions ($10/tonne Carbon dioxide equivalent) and the sums collected are then redistributed in the form of rewards for the best internal environmental efficiency initiatives, through the 'Environmental Efficiency Symbol: Not Climate Event Input: BNP Paribas seizes climate-related opportunities with corporate clients The Group acted on the following climate-related opportunities in the corporate clients segment in 2019: - Renewable energy financing reached $15.9 bil- lion. Symbol: Not Climate Event Input: The process is continuous and dynamic and provides for the following sub-processes: (i) risk governance, methods and tools, (ii) risk strategy, (iii) integrated risk management, (iv) risk knowledge, training and communication. Symbol: Climate Event Input: We emitted 13.4 million tonnes CO2 of Scope 2 (indirect emissions), being emissions arising from our consumption of purchased electricity, steam or heat. Our Scope 3 emissions include emissions from a broad range of sources, including shipping and land transportation. More details on our Scope 3 emissions will be available in our 2014 Symbol: Not Climate Event Input: JPMorgan Chase believes that companies must do even more to help solve today’s biggest challenges and create economic opportunity for more people. To do so, they must invest in communities the same way they invest in their own businesses. As announced in early 2018, our firm will deploy $1.75 billion by 2023 to drive inclusive growth in communities around the world. Generating Return on Community is one of our core objectives because we know that the future of our company depends on the well-being of our communities. Symbol: Climate Event Input: UBS is also involved in other activities to reduce gaps in climate-related financial data. We support the CDP, as an investor member as well as a questionnaire respondent, in their aim to improve company disclosure of risks and op- por tunities related to natural resources. We were also on the advisory panel of the Natural Capital Finance Alliance's advancing environmental management project. The pro- ject tool ENCORE, which maps how industry sectors depend on nature, was launched in November 2018. Symbol:	Not Climate Event
Input: In April 2018, the Group successfully completed a refinancing to convert floating to fixed debt and to extend the debt maturity out to November 2025. The Group issued a US$300 million bond with a fixed interest rate of 6.625%, which was swapped back to sterling upon issuance at an effective interest rate of 5%. The proceeds of the new issue were used to repay in full the £200 million floating rate bond issued in 2017 which had a maturity of 2022. Symbol: Climate Event Input: At the announcement of the business plan for the fiscal year ending March 31, 2020, as for investments and loans, we are setting the target at ¥2.1 trillion, which is within the three-year cumulative range announced already, and there is no change to our forecasts for asset recycling and shareholder returns. Symbol: Climate Event Input: An important consideration in the assessment of each risk was the relevant timeframe where the risk may be realised. In each case, the relevant scenario was documented and the most likely time horizon was identified. The likelihood and consequence was then assigned based on those parameters. Symbol: Climate Event Input: It is also used to identify what are known as emerging risks, in other words risks which could potentially have an adverse impact on the Group’s future performance, although their result and horizontal time frame are uncertain and difficult to predict (for further details see section ‘Emerging risks’ from chapter C. Background and upcoming challenges). Symbol: Climate Event Input: Climate change can pose material risks to sovereign debt due to its impact on national expenditures associated with disaster recovery from extreme weather events or preparedness through climate change mitigation and adaptation projects. Emerging market countries are particularly vulnerable since they often lack capital or have higher funding costs, which exacerbates the myriad risks that they already face. For example, many of these countries are vulnerable to food insecurity from both the impact of climate change on their own agricultural production and higher prices for imports. Our investment team members are increasingly focused on deepening their understanding of environmental risk in sovereigns and its complex links to fiscal and monetary conditions, which in turn affect bond yields and credit ratings. Symbol: Not Climate Event Input: Water stress Household water scarcity caused by climate change is another physical risk, which is exacerbated by population growth and urbanisation. During periods of drought consumers may reduce their use of certain products including laundry detergents, shampoos and conditioners, and toilet cleaners as they are unable to access water to use them or experience declining water quality which limits their enjoyment and/or efficacy. While the overall impact of water stress on our sales, from both policy and physical impacts, was not found to be significant in our scenario analysis at a global level within the 2030 time horizon evaluated, the impacts we see in the short term tend to be more local. Symbol: Not Climate Event Input: Because our electric grid will continue to rely on high-voltage and lower-voltage power lines, we expect to invest about $800 million annually for the foreseeable future to build new transmission infrastructure, replace more than 2,000 miles of high-voltage transmission lines, and upgrade physical security at substations. The rebuilds will increase the capacity on our transmission lines, which in part enhances our ability to transport more renewable energy. Symbol: Not Climate Event Input: Around US$16.5 billion of the insured losses caused by natural disasters related to the Camp Fire forest fire in California. This represents the highest loss to date for the insurance industry caused by a forest fire. In addition to further forest fires, 2018 was also notable for hurricanes, of which hurricane Michael and typhoon Jebi caused the greatest losses. Storms David (Friederike) and Eleanor (Burglind) were responsible for a high level of losses for the insurance industry in Europe as well (around US$3 billion). Germany accounted for around two-thirds of the losses. Symbol: Not Climate Event Input: In addition to consumer loans aimed at improving the energy efficiency of properties, Argentina is focusing on promoting electric mobility by offering different financing products for cars, bicycles and electric scooters. Symbol:	Not Climate Event
Input: Operational risks Operational risks relate to the losses resulting from inadequate or failed internal processes, people and systems, or due to external events. These risks normally fall within our low-risk appetite level as there is no strategic benefit from accepting the risk and accepting that it is not in line with our vision and values. Symbol: Climate Event Input: In addition, we recognize the scientific consensus that climate change is a reality of increasing concern, indicated by higher concentrations of greenhouse gases, a warming atmosphere and ocean, diminished snow and ice, and sea level rise. We understand that climate change potentially poses a serious financial threat to society as a whole, with implications for the insurance industry in areas such as catastrophe risk perception, pricing and modeling assumptions, particularly if the frequency and severity of natural catastrophic events continue to increase. Because there is significant variability associated with the impacts of climate change, we cannot predict how physical, legal, regulatory and social responses may impact our business. Symbol: Not Climate Event Input: In late 2017, CN committed to purchasing 200 new alternating current traction locomotives over the next three years to accommodate future growth opportunities and drive operational efficiency across the system. CN’s order is the largest among Class I railways since 2014. These high-horsepower engines are equipped with advanced digital technologies to optimize power distribution, train handling, brake control and fuel utilization. Symbol: Climate Event Input: We also invested €4.3 million in energy efficiency projects which reduced energy consumption by 300 million MJ. Projects that contributed to this achievement include cooling improvements in eight countries, improvements in lighting efficiency in 12 countries, electrical power optimisation in three countries and heat recovery from ground water in Hungary. Air and steam leakage prevention programmes were also implemented at all 66 of our production sites during the year. Symbol: Not Climate Event Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: While we support well-designed carbon pricing, we’re prepared to oppose poorly designed proposals. For example, we opposed the ballot initiative to introduce a carbon fee in Washington State, US in November 2018. We believed that the policy was badly designed and would have harmed Washington’s economy without significantly reducing carbon emissions. The ballot was not passed. Symbol: Not Climate Event Input: Creating value Measuring our reputation KPI FY19 FY18 FY17 FY16 FY15 AGL‘s Reptrak score declined since FY18. The drop in AGL‘s reputation over the past year has been driven by declining scores on three important dimensions of reputation – leadership, workplace and citizenship. This decline in reputation was consistent with scores across the energy industry as a whole. Symbol: Climate Event Input: Reputational and financial impact: Increased concern over climate change could lead to increased expectations to fossil fuel producers, as well as a more negative perception of the oil and gas industry. This could lead to litigation and divestment risk and could also have an impact on talent attraction and retention and on our licenses to operate in certain jurisdictions. Symbol: Not Climate Event Input: Announced by CEO Mike Roman on Investor Day in November 2018, the Framework directs our efforts to areas where we can make the greatest impact: Science for Circular, Science for Climate, and Science for Community. Symbol:	Not Climate Event
Input: The CFO convened a Scenario Discussion Workshop where members of senior leadership discussed the Company's current state, considered possible future scenarios, identified different risks and opportunities within these scenarios, and discussed the financial implication of these impacts on the Company. Symbol: Climate Event Input: The future is not a faraway place. It’s as near as tomorrow and it will affect us all. As energy consumption soars, how will we meet the demand? Fossil fuels are a finite resource that will gradually disappear. The natural replacement is sweeping freely around the earth – the wind. Symbol: Not Climate Event Input: We have been investing our £200 million corporate ‘green’ loan in ongoing energy security and carbon reduction initiatives such as installing solar panels on our roofs, switching to natural refrigerants and generating green gas using combined heat and power (CHP) plants. We have also partnered with General Electric to install LED lighting in our stores, reducing our lighting energy consumption by around 58 per cent for the stores included in the rollout – a three per cent annual reduction in carbon emissions once the programme is completed. Currently, 17 per cent of our electricity comes from on-site renewables generation and renewable power purchase agreements. Symbol: Not Climate Event Input: The investment horizon is between 3 and 15 years, because shorter investment horizons than this risk creating restrictions in the management, which can lead to poorer earnings, in part due to lower liquidity. Evaluation is over a rolling five-year period and the outcome of individual years should be interpreted with caution since strategic positions are taken in the medium term. Symbol: Climate Event Input: The quantitative investment strategies focus mainly on stock picking based on quality and valuation. It is precisely these strategies, which yield long-term value and are suitable for large portfolios, that tend to perform poorly in a context of highly accommodative central bank monetary policies. In 2019, all major quantitative investment styles performed poorly; stock picking based on valuation and quality and stock picking based on recent price trends both yielded negative returns. This combination is seldom seen. Symbol: Climate Event Input: Initial insights The majority of the residential properties in our portfolio have a very low probability of experiencing damage from flooding or drought in the next 30 years. A relatively small number of properties, however, have a high probability of experiencing damage from flooding or drought in that period. Therefore, the impact on an individual household may be significant, even more so if the quality of the property is already low or the household’s response capacity is low (e.g. insufficient wealth or mortgage headroom). Nevertheless this initial analysis does not suggest a significant impact at either a portfolio or bank level. Symbol: Not Climate Event Input: As an outcome of the nanced emissions and low-carbon scenario work, the Group has committed to work closely with 100 of its largest greenhouse gas emitting customers to support them in developing or improving their low carbon transition plans by 2023. Symbol: Not Climate Event Input: Regulatory risk is the risk of failure to meet new or existing regulatory and / or legislative requirements and deadlines, or a failure to embed compliant procedures into processes. It also includes the risk to the Group's capital, liquidity and profitability from the impact of future legislative and regulatory changes. Symbol: Climate Event Input: The Board of Directors has overall responsibility for ensuring that IAG has an appropriate risk management framework, including the determination of the nature and extent of risk it is willing to take to achieve its strategic objectives. The Board has oversight of the Group's operations to ensure that internal controls are in place and operate effectively. Management is responsible for the execution of the agreed plans. Symbol:	Climate Event
Input: Accordingly, we have defined the associated risks and opportunities from a medium- to long-term perspective looking to 2030 and beyond rather than based on the short-term timeframe of the three-year medium-term management plan. Symbol: Climate Event Input: We have been investing our £200 million corporate ‘green’ loan in ongoing energy security and carbon reduction initiatives such as installing solar panels on our roofs, switching to natural refrigerants and generating green gas using combined heat and power (CHP) plants. We have also partnered with General Electric to install LED lighting in our stores, reducing our lighting energy consumption by around 58 per cent for the stores included in the rollout – a three per cent annual reduction in carbon emissions once the programme is completed. Currently, 17 per cent of our electricity comes from on-site renewables generation and renewable power purchase agreements. Symbol: Not Climate Event Input: Risk and risk management Operational risk and compliance risk Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events including legal risk but excluding strategic and reputation risk. It also includes, among other things, technology risk, model risk and outsourcing risk. Symbol: Climate Event Input: To bring focus to operational performance, we undertook a pilot certification of seven assets under BREEAM In Use. We will certify a further 30 assets over the next 24 months and have underpinned this goal with the announcement in March of a £450m ESG linked Revolving Credit Facility that requires a continual increase in green building certifications. Symbol: Not Climate Event Input: 14 those related to our products and services, demand and distribution, financial performance, credit rating and debt obligations. Given that developments concerning the COVID-19 pandemic have been constantly evolving, additional impacts and risks may arise that we are not aware of or able to appropriately respond to at this time. Symbol: Climate Event Input: Validation We established a common understanding between Toyota Motor Corporation (TMC) and all regions at the global meetings also based on the analyses conducted by overseas affiliates. We also engaged in dialogue with international organizations to validate the issues identified from perspectives outside of the company. The matrix was confirmed by relevant executives. Symbol: Climate Event Input: Business interruption An external hazardous event (floods, riots, fires etc.) or internal disruption (e.g. availability of critical spare parts, global supply chain complexity etc.) may result in a significant period of plant shutdown or disruption and hence in delayed/non-delivery of our products to internal and/or external customers, ultimately leading to adverse financial and reputational consequences. Symbol: Not Climate Event Input: It includes the risk that the Group fails to develop or to execute successful strategies to deliver acceptable returns in the context of the economic, competitive, regulatory / legal and interest rate environments that arise. It also includes non-financial risks such as people risks and risks relating to climate change. Symbol: Not Climate Event Input: Assessment of resilience to physical risks for the asset management business BNP Paribas Asset Management BNP Paribas Asset Management works with a spe- cialist research firm that provides it with physical risk scores, which are used to improve its investment analysis. Symbol:	Not Climate Event
Input: We also offer on-lending through the ABC Program (Low Carbon Agriculture), the agribusiness line from BNDES to finance projects reducing greenhouse gas emissions from agriculture, livestock and deforestation by expanding cultivated forests and recovering degraded areas. In 2015, we signed the amount of, approximately, R$15 million through this program. For more information, please visit: www.bndes.gov.br/apoio/abc.html. Symbol: Not Climate Event Input: The risk of credit loss or non-financial risks, such as reputational damage, arising from environmental, social and governance (ESG) issues, including climate change. While a key component of ESG risk arises indirectly from the financial services we provide to our customers, it can also result directly from our own operations. Symbol: Not Climate Event Input: 4) After segmentation, a calibration phase is proposed. In this phase, it is necessary to select five clients from each established segment minimally and to estimate the impact on their default probability against the established revenue, cost and investment impacts. There is no single way to apply this step, and it can be constructed either quantitatively or qualitatively. Symbol: Climate Event Input: Ultimately, sustainable growth is also about culture and tone from the top. Leaders across the bank promote our efforts, articulate its importance and champion the work needed to deliver sustainable growth well into the future. Symbol: Climate Event Input: It is also used to identify what are known as emerging risks, in other words risks which could potentially have an adverse impact on the Group’s future performance, although their result and horizontal time frame are uncertain and difficult to predict (for further details see section ‘Emerging risks’ from chapter C. Background and upcoming challenges). Symbol: Climate Event Input: This figure included €153 million worth of assets in the Artemis office portfolio which comprises 33 assets, covering 360,000 sqm, in five different European countries. Over the rest of the portfolio, a further €255 million of assets are contracted and currently in the process of being onboarded during the first half of this year and will add to AUM during FY18. Symbol: Climate Event Input: For example: The Fuel Management team performance score is tied to the company's Canadian rail industry emission intensity reduction target of 6% by 2022 from a 2017 baseline and we engage with our suppliers to obtain key information on and optimize our fuel blends in alignment with the Canadian Renewable Fuel Standard and impending Clean Fuel Standard. Symbol: Not Climate Event Input: Climate change the physical impacts of climate change on our operations are uncertain and particular to geographic circumstances. in addition, a number of national governments have already introduced or are contemplating the introduction of regulatory responses to greenhouse gas emissions from the combustion of fossil fuels to address the impacts of climate change. these physical effects and regulatory responses may adversely impact the productivity and financial performance of our operations. Symbol: Not Climate Event Input: 51 In February 2020, BlackRock made a charitable contribution of its 20% stake in PennyMac Financial Services, Inc. to the BlackRock Foundation, a newly established corporate foundation, and the BlackRock Charitable Fund, a donor- advised fund, which was established in 2013. Symbol:	Climate Event
Input: Climate change Climate change is an external risk factor that is part of environmental risk. It is defined as an entity’s vulnerability to the negative effects of climate change, which could lead to financial losses. It includes:  physical risks, namely the risks resulting from damage caused by extreme weather events;  transition risks, namely the risks related to implementation of measures to ensure environmental transition. Symbol: Not Climate Event Input: In this document, section 4.3.1.3 (1) Financing and Investment Transactions Prohibited Regardless of Sector lists projects for which we prohibit any financing or investment. Sections 4.3.1.3 (2) Financing and Investment Transactions which Require Additional Due Diligence Regardless of Sector and 4.3.1.3 (3) Policies on Specific Industrial Sectors describe our practices for determining whether to engage in transactions with clients/projects in subject sectors, accounting for the degree to which the client has taken steps to avoid or mitigate risk and other due diligence as appropriate, based on the characteristics of the services we are providing. Symbol: Climate Event Input: In Pakistan, where millions remain cut off from the national grid, we invested $125 million in China Three Gorges South Asia to support a series of privately owned hydro, solar, and wind projects. Once operational, they are expected to provide electricity to more than 11 million people and boost the country’s generation capacity by 15 percent. Symbol: Not Climate Event Input: As a leader in the index investing and asset management industry, BlackRock has been the subject of commentary citing concerns about the growth of index investing, as well as perceived competition issues associated with asset managers managing stakes in multiple companies within certain industries, known as “common ownership”. The commentators argue that index funds have the potential to distort investment flows, create stock price bubbles, or conversely, exacerbate a decline in market prices. Symbol: Climate Event Input: The quantitative investment strategies focus mainly on stock picking based on quality and valuation. It is precisely these strategies, which yield long-term value and are suitable for large portfolios, that tend to perform poorly in a context of highly accommodative central bank monetary policies. In 2019, all major quantitative investment styles performed poorly; stock picking based on valuation and quality and stock picking based on recent price trends both yielded negative returns. This combination is seldom seen. Symbol: Climate Event Input: Two key reports were published in the 2020 nancial year, including a nance report and a science report which are available at: https://www.cmsi.org.au/reports - Climate-KIC Australia (Climate-KIC) - The Group has been working with Climate-KIC and a number of other organisations, including government agencies and industry bodies on an Adaptation Finance Project. Symbol: Not Climate Event Input: The investment horizon is between 3 and 15 years, because shorter investment horizons than this risk creating restrictions in the management, which can lead to poorer earnings, in part due to lower liquidity. Evaluation is over a rolling five-year period and the outcome of individual years should be interpreted with caution since strategic positions are taken in the medium term. Symbol: Climate Event Input: Offsetting our Greenhouse gas emissions In addition to continuously investing in projects that mitigate our impact on climate change, in 2015 we launched the Itau Unibanco's Greenhouse Gas (GHG) Emissions Offset Program. Symbol: Not Climate Event Input: The inte- rest rate on the loan is tied to two key perfor- mance indicators: (i) achieving a net positive impact on biodiversity in UPM's Finnish forests; (ii) reducing Carbon dioxide emissions generated from pur- chased fuel and electricity 65% by 2030 (com- pared to 2015 levels), in accordance with UPM's commitment to aligning its business with the 1.5 C climate scenario. Symbol:	Not Climate Event
Input: In view of the expected increase in the number of directors as well as in the number per year of meetings of the Board of Directors for exceptional transactions and of the Strategy & CSR Committee the competencies of which have been extended to the social and environmental challenges, including those in relation to climate, it will be proposed to the Shareholders’ Meeting to be held on May 29, 2020 to set, as from the fiscal year 2020, the annual fixed amount to be allocated to board members as compensation due to their activity at €1.75 million. Symbol: Not Climate Event Input: IDB Invest and Canada launched the second phase of the Canadian Climate Fund for the Private Sector in the Americas (C2F) project, a mixed climate finance program with a gender focus for Latin America and the Caribbean. It is expected to leverage up to US$1 billion in private sector investments in areas such as renewable energy, sustainable agriculture and forestry to help the region’s most vulnerable population segments, especially women and young girls, to better prepare and adapt to climate change. Symbol: Not Climate Event Input: Climate change is a challenge faced by the entire P&C insurance industry. In particular, our home insurance business has been affected due to changing climate patterns and an increase in the number and cost of claims associated with severe storms. Water damages now make up more than half of our home insurance claims. Symbol: Not Climate Event Input: The sensitivity analysis does not show a comprehensive picture of all potential scenarios. Further, variables do not tend to move in isolation, nor in a uniform or consistent manner, and the analysis does not show the potentially infinite number of permutations, and resultant impacts, that might arise in reality as a consequence. Symbol: Climate Event Input: In 2020, the EBRD signed a US$ 100 million project to finance Louis Dreyfus Company's (LDC) subsidiaries operating in Bulgaria, Egypt, Kazakhstan, Poland, Romania, Tajikistan, Turkey and Ukraine. The transaction will finance working capital needs for the trading activities of LDC's subsidiaries in these countries. Symbol: Climate Event Input: - The investments in our own investment portfolio ($4.4bn; including cash) are mainly concentrated in government bonds and fixed income instruments issued by European financial institutions; see our annual report 2019, pp. Symbol: Climate Event Input: Regulatory risk is the risk of failure to meet new or existing regulatory and / or legislative requirements and deadlines, or a failure to embed compliant procedures into processes. It also includes the risk to the Group's capital, liquidity and profitability from the impact of future legislative and regulatory changes. Symbol: Climate Event Input: Climate change is a long-term risk associated with high uncertainty regarding timing, scope and severity of potential impacts. Climate risks can be grouped into physical risks and transition risks. Physical risks relate to losses from overall climate changes (i.e. changing weather patterns and sea level rise) and acute climate events (i.e. extreme weather and natural disasters). These physical risks impact property & casualty (P&C) insurance, but also life insurance, for instance through higher than expected mortality rates. Losses can also follow from credit risk and collateral linked to the mortgage portfolio. Aegon is exposed to mortality risk and mortgage underwriting Symbol: Not Climate Event Input: PUBLIC POSITIONS AND PARTNERSHIPS ON ENERGY AND CLIMATE-RELATED ISSUES BNP Paribas firmly believes it is more effective to address the complex and global challenges of climate change by working together. With that in mind, the Group is a member of several coalitions on the front line of the fight against climate change, such as: - The Group belongs to the Breakthrough Energy Coalition, which supports innovation in the interest of deve- loping clean energy. Launched by Bill Gates during the Conference of the Parties - Climate Change 21 conference, the coalition combines innovative re- search funded by public-private partnerships; - BNP Paribas helped draft the Charter for Engagement 'Women leading climate action', of the Women's Forum, a charter that has now been signed by nearly 400 corporations, opinion leaders and other organisations. Symbol:	Not Climate Event
Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: 2017 (36.01 tonCO 2 eq/kboe). This reduction already makes it possible to achieve the 2021 target, but Eni is nonetheless set on pursuing an improvement of at least 2% per annum in coming years as well. In addition to the upstream results already mentioned, this reduction was also made possible by a reduction in the emission intensity of refineries even with an increase in the performance index of EniPower. In 2018, Eni invested about €10 million in energy efficiency projects, which, once in full operation, will yield energy savings of 313 ktoe/year, amounting to a reduction in emissions of around 0.8 million tonnes of CO Symbol: Not Climate Event Input: DRAFT 1 d4a Changing regulatory requirements AnnualReport- We take our regulatory obligations seriously and manage non-compliance with regulatory requirements as a risk, with supporting risk appetite statements set by the Board. Symbol: Climate Event Input: $40 trillion in assets. Signatories to Climate Action 100+ are requesting the boards and senior management of companies to: • Implement a strong governance framework which clearly articulates the board’s accountability and oversight of climate change risks and opportunities • Take action to reduce greenhouse gas emissions across the value chain, consistent with the Paris Agreement’s goal of limiting global average temperature increase to well below Symbol: Not Climate Event Input: IFC expands the availability of such technologies by channeling investments toward private companies that build modern communications infrastructure and information-technology businesses. In FY18, we invested $376 million in initiatives related to technology, including funds mobilized from other investors — expanding our portfolio in this sector to more than $2.4 billion. Symbol: Climate Event Input: This broad, detailed study found BNP Pari- bas' business model to be resilient to these risks, with respect to: o its businesses, and the sector and geographic classifications of its portfolios; o the measures taken to mitigate these risks. Symbol: Climate Event Input: IAG is committed to be the leading airline group in sustainability. This means that environmental considerations are integrated into the business strategy at every level and the Group uses its influence to drive progress across the industry. • IAG Climate Change strategy to meet target of net zero carbon emissions by 2050. • British Airways plans to offset UK domestic flight carbon emissions from 2020. • Fleet replacement plan introducing aircraft into the fleet that are up to 40 per cent more carbon efficient. • IAG investment in sustainable aviation fuels of $400 million in the next 20 years, including British Airways’ partnership with Velocys. • Management incentives under development to align to IAG’s new targets. • Partnering with Mosaic Materials to explore carbon capture technology. • Participating in CORSIA, the ICAO global aviation carbon offsetting scheme. Symbol: Not Climate Event Input: In 2019, Olam Cocoa invested in a 30,000m3 quayside terminal within Amsterdam Port Area for bulk cocoa bean storage, using technology for increased efficiency, full traceability and reduced logistics costs. It is powered by solar energy, with the product moved using solar power conveyors instead of diesel trucks, reducing carbon dioxide emissions by 80% and power costs by 30%. It has 6 electric vehicle charge points, LED lighting, and hot water powered by an electric heat pump. Symbol: Not Climate Event Input: In addition to its efforts to develop sustainable products and services, the Bank has identified opportunities to be greener in its operations. The actions we have taken to improve the energy efficiency of our buildings have enabled us to currently exceed regulatory requirements and meet the expectations of our stakeholders. Over the past 20 years, the Bank has voluntarily adopted various measures to considerably improve the energy efficiency of its buildings. As a member of the Energy Savers Circle of Hydro-Quebec (a public utility that manages the transmission and distribution of electricity in Quebec), the Bank has set up an innovative web-based interface to remotely manage energy use at over 100 of its branches. This system allows the Bank to oversee its facilities and make sure they meet energy efficiency goals, year after year. The Bank also implements the criteria for Leadership in Energy and Environmental Design (LEED) certification in its buildings and aims for LEED v4 Gold certification for its new head office to be completed in 2023. Among other things, this allows the Bank to reduce its Greenhouse gas emissions despite an increase in activities. Our Greenhouse gas emissions for 2019 have been calculated at 9,732 tonnes of CO2-down 16% compared to 2017. The Bank has renewed its commitment to carbon neutrality by buying carbon credits to offset emissions that can't be eliminated. This year, the Bank has set a target to reduce its Greenhouse gas emissions by 25% by 2025. This science-based target aims to help limit global warming to 1.5 C, the most ambitious goal of the Paris Agreement. Symbol:	Not Climate Event
Input: The Group Compliance SU (CPLE) is responsible for the definition and consistency of the compliance risk prevention and control framework, and for coordinating the framework aimed at preventing, identifying, assessing and controlling reputational risk across the entire Group. Symbol: Climate Event Input: Now, these older coal and gas plants are being shuttered in the UK and being replaced by intermittent renewable energy sources, principally wind. This reduces carbon emissions but makes the provision of these system support services more challenging. Wind, by its nature, is intermittent and, for the most part, unable to provide system support services. Symbol: Not Climate Event Input: At the beginning of 2019, VINCI Airports signed a memorandum of understanding with the Portuguese government to extend Lisbon’s airport capacity. It provides for upgrading the existing Humberto Delgado Airport and building a new civil airport on the Montijo Air base opposite the city at the eastern end of the Tagus estuary. VINCI Airports will invest €1.15 billion over the next 10 years in this two-pronged project. Symbol: Climate Event Input: Group environmental impacts: With over 83,000 employees in more than 100 countries, the Group’s operations impact on the environment, particularly as a result of travel, energy consumption and waste. Impacts associated with climate change: Climate events (floods, storms, tsunamis, etc.) may disrupt or interrupt the services delivered by agencies and teams to their clients. Symbol: Not Climate Event Input: Sector restrictions For the sector specific restrictions, the following definitions should be applied: i) 'Financing': all lending, underwriting, issuance of debt and equity, trade and working capital finance; ii) 'Directly finance projects' refers to project finance or other lending/ underwriting where the use of proceeds is known to be for a particular project. http://home.barclays/annualreport Symbol: Climate Event Input: Each presentation includes the following: an overview of the business group, shortand long-term financial performance and goals, an assessment of portfolio growth opportunities, and strategic priorities to drive our Value Model. Symbol: Climate Event Input: The Electricity, Gas and Water Supply sectors show a general downward trend. The discontinuation of a number of high emissions intensive exposures contributed to this result in FY18. Our exposure to renewables increased 33% to $3.7 billion in FY18. A portion of the exposure included projects under construction which are typically initially more emissions intensive than operational renewable electricity assets. Symbol: Not Climate Event Input: An inability to successfully manage and leverage our strategic third-party relationships, or a critical failure of a key supplier or service provider, may expose Coles to risks related to compromised safety and quality, misalignment with ethical and sustainability objectives, disruptions to supply or operations, unrealised benefits, and legal and regulatory exposure. Symbol: Not Climate Event Input: We aim to promote equal opportunities by inspiring underrepresented groups to take up STEM fields by exposing them to aviation employment options and opportunities. By fueling the pipeline today through our support of educational initiatives and STEM programs, we will help to ensure more diverse perspectives in the hangars and boardrooms of the future. Symbol:	Climate Event
Input: For example, we offer sustainable finance. MUFG has set a goal of ¥20 trillion for sustainable finance by fiscal 2030 (of this, ¥8 trillion will be used for environmental finance). To reach our goal, we will finance renewable energy projects and underwrite and distribute Green Bonds. We will also finance incubation projects to nurture startups and regional revitalization programs. Symbol: Not Climate Event Input: In addition to participating in international working groups associated with the Principles for Responsible Banking, the Bank participates in the work of the Canadian Bankers Association on the following issues: Scenario analysis Integrating climate-related concepts into risk management Defining a Canadian taxonomy Monitoring key developments and best practices Standardizing of calculation methodologies Peer-to-peer comparison exercises Increasing the Efficiency of Our Operations In addition to its efforts to develop sustainable products and services, the Bank has identified opportunities to be greener in its operations. Symbol: Not Climate Event Input: In late 2017, CN committed to purchasing 200 new alternating current traction locomotives over the next three years to accommodate future growth opportunities and drive operational efficiency across the system. CN’s order is the largest among Class I railways since 2014. These high-horsepower engines are equipped with advanced digital technologies to optimize power distribution, train handling, brake control and fuel utilization. Symbol: Climate Event Input: IAG is exposed to multiple risks relating to its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline the material risks faced by the Group as identified in the RMS:  strategic risk – the risk that internal or external factors compromise our ability to execute our strategic objectives or our strategy; Symbol: Climate Event Input: This is due to the diversity of our business. The scope and range of our products make it impossible to calculate a single production figure and our financial results are affected by commodity prices and foreign exchange rates, which are outside our control. As a result of the nature of the exploration, development and production cycle, our CO2 emissions do not necessarily correlate to our employee headcount. Symbol: Not Climate Event Input: We recognize that there is potentially a lot of uncertainty regarding how to quantify these impacts and that reasonable people can differ in their assessments. As our collective knowledge and understanding of these mechanisms evolve, it is possible that the quantification of these scenarios may also change. Symbol: Climate Event Input: Energy Efficiency: These measures include new retrofit technologies to improve Chiller and Air Handling Units (AHUs), integrated design and monitoring platforms. The Global Energy command centre aggregates Building Management System inputs on a common platform to optimize operational control and improve energy efficiency. Symbol: Not Climate Event Input: IFC expands the availability of such technologies by channeling investments toward private companies that build modern communications infrastructure and information-technology businesses. In FY18, we invested $376 million in initiatives related to technology, including funds mobilized from other investors — expanding our portfolio in this sector to more than $2.4 billion. Symbol: Climate Event Input: Validation We established a common understanding between Toyota Motor Corporation (TMC) and all regions at the global meetings also based on the analyses conducted by overseas affiliates. We also engaged in dialogue with international organizations to validate the issues identified from perspectives outside of the company. The matrix was confirmed by relevant executives. Symbol:	Climate Event
Input: To better understand the landscape, Morgan Stanley engaged Partnership for Carbon Accounting Financials and its current members in early 2020. We had an opportunity to learn more about their emissions factors database in order to better evaluate how PCAF's data for various assets could be utilized by Morgan Stanley. Symbol: Not Climate Event Input: 14 those related to our products and services, demand and distribution, financial performance, credit rating and debt obligations. Given that developments concerning the COVID-19 pandemic have been constantly evolving, additional impacts and risks may arise that we are not aware of or able to appropriately respond to at this time. Symbol: Climate Event Input: Climate change may cause extreme weather events that disrupt operations at one or more of our primary locations, which may negatively affect our ability to service and interact with our clients, and also may adversely affect the value of our investments, including our real estate investments. Climate change may also have a negative impact on the financial condition of our clients, which may decrease revenues from those clients and increase the credit risk associated with loans and other credit exposures to those clients. Additionally, our reputation may be damaged as a result of our involvement, or our clients’ involvement, in certain industries or projects associated with climate change. Symbol: Not Climate Event Input: In late 2017, CN committed to purchasing 200 new alternating current traction locomotives over the next three years to accommodate future growth opportunities and drive operational efficiency across the system. CN’s order is the largest among Class I railways since 2014. These high-horsepower engines are equipped with advanced digital technologies to optimize power distribution, train handling, brake control and fuel utilization. Symbol: Climate Event Input: Offsetting our Greenhouse gas emissions In addition to continuously investing in projects that mitigate our impact on climate change, in 2015 we launched the Itau Unibanco's Greenhouse Gas (GHG) Emissions Offset Program. Symbol: Not Climate Event Input: Energy policy Throughout FY2018, national energy policy remained highly topical within Australia. As policy makers seek to tackle the energy ‘trilemma’ and solve a decade-long failure to effectively integrate energy and climate policy, ongoing uncertainty prevails in the market. This affects investment decisions, prices and energy reliability for Australian consumers and businesses. Symbol: Not Climate Event Input: Risks are assessed at least annually. Please refer to Section 6.1 Our approach to risk management, 6.2 Risk categories and factors, 6.3 Strategic risks, 6.4 Operational risks, 6.5 Compliance risks, and 6.6 Financial risks. Symbol: Climate Event Input: In general, the Group's strategic risks were stable during the year with competitor capacity being monitored and assessed within the Group. IAG continues to support deregulation, manage its supplier base and explore opportunities for consolidation. Symbol: Climate Event Input: National Bank Investments Inc. National Bank Investments Inc. (NBI), a Bank subsidiary, is a signatory of the UN Principles for Responsible Investment (PRI) and a member of the Responsible Investment Association (RIA). Symbol:	Not Climate Event
Input: In addition to e-learning modules on sectoral policies, available in eight languages, 12 interactive sessions (including methodology reviews and case studies) were organised to help employees improve their understanding and grasp of existing tools. Symbol: Climate Event Input: ACTION PLAN 2020-2023 Given the uncertainties relating to the macroeconomic and political outlook and the complexity of the interaction between measures to combat climate change and energy demand, we maintain a prudent financial approach in investment decisions. The four-year investment plan, focused on high-value projects with short pay-back period, provides for investments of around €32 billion in 2023 and is characterized by a high level of flexibility with around 60% of investments uncommitted in 2022-2023. Eni's investment program has been designed to achieve high-returns and resiliency even in a challenging scenario. In particular, the current portfolio of upstream projects in execution has a break-even price of 23 $/bbl (25 $/bbl in the previous plan) and an overall IRR of approximately 25%. These projects remain competitive even in a low carbon scenario. Adopting the IEA SDS scenario, which foresees a huge increase in the costs of emitting CO Symbol: Not Climate Event Input: S&P Global has developed a suite of products across its underlying business units that help clients in this transition and will continue to invest in innovative solutions that power sustainable markets of the future. Symbol: Not Climate Event Input: Built in 1924 on the Inn River channel, the run-of-river power plant with output of around 85 MW will be expanded and modernised. Following an investment period lasting around four years and with projected total capital expenditure of approximately €250m, about 32 MW of additional capacity will be available from 2023 onwards. The Gries hydropower plant was also inaugurated in 2019. This facility, which entailed an aggregate investment of around €50m, will supply around 10,000 households with green electricity from hydropower. Over the next three years, we are planning to invest a total of around €650m in the further expansion and maintenance of our hydropower facilities, thereby making a large contribution to mitigating climate change. Symbol: Not Climate Event Input: There is also increased focus, including by governmental and non-governmental organizations, investors, customers and consumers on these and other environmental sustainability matters, including deforestation, land use, climate impact and recyclability or recoverability of packaging, including plastic. Our reputation can be damaged if we or others in our industry do not act, or are perceived not to act, responsibly with respect to our impact on the environment. Symbol: Not Climate Event Input: While the transformation of our systems will continue beyond 2021, we are committed to remaining within the guided transformation investment spend of €1.4 billion equating to an average of 50 to 60 basis points of Common equity tier 1 (CET1) capital annually until 2021. We expect that investment in transformation beyond 2021 will be at a lower level. Symbol: Climate Event Input: Risks to the Group’s reputation Risks include acts or omissions by the Group or any of its employees that could damage the Group’s reputation or lead to a loss of trust among its stakeholders. Every risk type has potential consequences for Zurich’s reputation. Effectively managing each type of risk helps reduce such threats. Symbol: Climate Event Input: 3.3 Building on Intrinsic Business Model Strengths A pillar of the NorthEdge business is the principle of active partnership and influence to deliver on our core purpose. We enable this through relationship building with our target and existing portfolio company management teams. Then, formally known as 'active ownership', we leverage our nonexecutive Director role on investee company Boards, combined with our informal relationship(s), to steer a focus on value creation. Symbol: Climate Event Input: Achieving carbon neutral operations will involve three steps for us. First, we will continue to reduce the energy consumption of our stabilized properties and entire announced development pipeline through maximizing onsite energy reductions. Second, we will continue to take advantage of all onsite solar and battery installation opportunities. Finally, we will make the remainder of the energy consumption Symbol:	Not Climate Event
Input: We meet the financing needs of our customers with a broad and modern product range. The focus of the portfolio is on traditional owner-occupied home financing and the financing of real estate capital investments (residential mortgage loans and investment properties with a total EaD of €61bn). We provide our business customers with credit in the form of individual loans with a volume of €14bn. In addition, we meet our customers’ day-to-day demand for credit with consumer loans (consumer and instalment loans, credit cards to a total of €10bn). Symbol: Climate Event Input: Risks to the Group’s reputation Risks include acts or omissions by the Group or any of its employees that could damage the Group’s reputation or lead to a loss of trust among its stakeholders. Every risk type has potential consequences for Zurich’s reputation. Effectively managing each risk type supports preventing adverse reputation outcomes. Symbol: Climate Event Input: There is also increased public focus, including by governmental and non-governmental organizations, on these and other environmental sustainability matters, including deforestation and land use. Our reputation could be damaged if we or others in our industry do not act, or are perceived not to act, responsibly with respect to our impact on the environment. Symbol: Not Climate Event Input: These exercises highlight that not enough data are available for a bottom-up approach, assessing the vulnerabilities specific to Group clients and incorporating their response and remediation functions on a forward-looking basis. Symbol: Climate Event Input: The international community pledged €17 million in additional funds to help finance work aimed at reducing the risk of radiation from disused uranium-mining sites in the Kyrgyz Republic, Tajikistan and Uzbekistan. The funding was pledged at an event hosted by the EBRD, which manages the Environmental Remediation Account for Central Asia. Work at four sites will start in 2019. Symbol: Not Climate Event Input: 5.2.11 Conflict minerals: issues further down the chain In line with Philips’ commitment to supply-chain sustainability, we are concerned about the situation in eastern DRC (the Democratic Republic of the Congo), where proceeds from the mining sector are used to finance rebel conflicts in the region. Philips does not directly source minerals from the DRC and the mines are typically seven or more tiers away from our direct suppliers. Philips nevertheless feels obliged to address this issue through the means and influencing mechanisms available to us. Symbol: Climate Event Input: Water stress Household water scarcity caused by climate change is another physical risk, which is exacerbated by population growth and urbanisation. During periods of drought consumers may reduce their use of certain products including laundry detergents, shampoos and conditioners, and toilet cleaners as they are unable to access water to use them or experience declining water quality which limits their enjoyment and/or efficacy. While the overall impact of water stress on our sales, from both policy and physical impacts, was not found to be significant in our scenario analysis at a global level within the 2030 time horizon evaluated, the impacts we see in the short term tend to be more local. Symbol: Not Climate Event Input: The new index was built in three stages: - Firstly, Controversial Weapons Manufacturers were excluded from the universe of stocks that make up the FTSE All World Index universe, as the Trustee has a financial preference for avoiding such stocks where possible. - Secondly, a four-factor index was created (Value, Quality, Low Volatility and Low Size) that rebalances regularly through time to create a 'Balanced Factor' index with more attractive risk-return characteristics than the standard market capitalisation index. - Finally, three climate-related tilts were applied to the 'Balanced Factor' index to create a 'Climate Balanced Factor' index. The FTSE All World (ex CW) Climate Balanced Factor Index tilts away from Carbon Reserves and Carbon Emissions, whilst positively tilting towards Green Revenues. The tilts are set such that the inclusion of the climate-related tilts introduces a relatively modest tracking error compared to the Balanced Factor index without climate tilts. This allowed the Trustee to conclude that the new index was consistent with its fiduciary duty and provided an element of Climate Change protection. Symbol: Not Climate Event Input: For investment real estate in Switzerland, we apply the following sustainability criteria: analysis of energy sources as a percentage of market value and MINERGIE certifications. MINERGIE is a Swiss sustainability label for new and refurbished buildings. By the end of 2019, the combined value of our MINERGIE-certified buildings reached USD 0.4 billion, or 23% of our Swiss portfolio of direct real estate Symbol:	Not Climate Event
Input: In 2019 ATP has invested DKK 0.7bn in a gas pipe- line to move waste gas from one of the world’s largest oilfields, Delaware Basin in western Texas, to Mexico. The natural gas is a by-product of oil drilling. In the past the gas was burned off, but it is now taken away for the production of electricity. The gas thereby replaces some of the need for coal and oil to produce electricity in Texas and Mexico. The natural gas pipeline therefore represents important infrastructure as a solution to support the green transition since gas almost halves the emission of CO2 when used to replace coal and oil for the production of electricity. Symbol: Not Climate Event Input: MELBOURNE BACKS BTR In June 2019, we entered into an agreement with developer PDG to deliver 490 purpose-built, BTR apartments as part of the $450 million Munro development in Melbourne’s CBD. The Munro development is a key project within the City of Melbourne’s $250 million renewal of the Queen Victoria Market precinct. Symbol: Climate Event Input: 13. CLIMATE ACTION 13.1. Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries. 13.3. Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning. 13.a. Implement the commitment undertaken by developed-country parties to the United Nations Framework Convention on Climate Change (UNFCCC) to a goal of mobilizing jointly $100 billion annually from 2020 on from all sources to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation and fully operationalize the Green Climate Fund through its capitalization as soon as possible. 13.b. Promote mechanisms for raising capacity for effective climate change-related planning and management in least developed countries, including focusing on women, youth and local and marginalized communities. Symbol: Not Climate Event Input: Physical risks • Risks that consist of chronic physical risks (rise in average temperatures and sea levels, etc.) and acute physical risks (increase in abnormal weather, such as typhoons and flooding, etc.) which are associated with physical changes due to climate change • Impacts could increase under the scenario of significant long-term increase in temperatures due to inadequate climate change countermeasures by each country • Increase in insurance claims and benefits paid due to increase in heat strokes and infectious diseases associated with global warming • Increase in insurance claims and benefits paid associated with increase in flooding due to typhoons, etc. Symbol: Not Climate Event Input: 5.2.11 Conflict minerals: issues further down the chain In line with Philips’ commitment to supply-chain sustainability, we are concerned about the situation in eastern DRC (the Democratic Republic of the Congo), where proceeds from the mining sector are used to finance rebel conflicts in the region. Philips does not directly source minerals from the DRC and the mines are typically seven or more tiers away from our direct suppliers. Philips nevertheless feels obliged to address this issue through the means and influencing mechanisms available to us. Symbol: Climate Event Input: IFC is targeting new growth areas in energy storage, transportation logistics, distributed renewables, off-shore wind, nature-based solutions, and carbon capture and storage. In March 2020, IFC hired an electric vehicle (EV) industry specialist to help build IFC’s business across the EV value chain, including charging infrastructure, manufacturing, batteries, and financing platforms. Symbol: Not Climate Event Input: Business Risk Business risk describes the risk we assume due to potential changes in general business conditions, such as our market environment, client behavior and technological progress. This can affect our results if we fail to adjust quickly to these changing conditions. Business risk consists of strategic risk, tax risk and refinancing risk, of which only strategic risk is assessed as material. Symbol: Climate Event Input: At this stage the assessment is still considered qualitative, as further studies and research are yet to be completed, however it does indicate which risks may potentially have a material impact on Transurban's business. Each of these risks will be assessed further to confirm the scope and relative impact of the different consequences to better inform the management approach and reporting for future years. Symbol: Climate Event Input: While the Trustee considers the impact of climate-related risks on all of the assets within which it invests, the primary focus has been on its equity exposure (although steps are being taken to extend this to the Scheme's holdings in publicly-traded corporate credit). The section above explained how the Trustee have co-developed the LGIM Future World Fund, its climate-related engagement activities and how the fund is used in both DB and DC strategies. Symbol:	Not Climate Event
Input: The current model for financing renewables is an example of inefficient distribution of effort, since, even though the electricity sector accounts for only around 25% of energy consumption, it is the electricity consumers who bear most of these costs (more than 80% in Portugal and Spain). This effect distorts competition among the various energy vectors, limiting electrification and penalizing consumers who are most dependent on this energy vector. Symbol: Not Climate Event Input: Accordingly, we have defined the associated risks and opportunities from a medium- to long-term perspective looking to 2030 and beyond rather than based on the short-term timeframe of the three-year medium-term management plan. Symbol: Climate Event Input: (11) Climate change The negative effects of climate change are becoming increasingly severe and are thus recognized as social issues that must be addressed globally, as demonstrated by the Paris Agreement and the SDGs. The process of manufacturing chemicals emits large amounts of greenhouse gases (GHG), the primary cause of climate change. The physical risks associated with climate change and risks pertaining to the transition to a low-carbon society have the potential to adversely affect the Group’s business results and financial position. Accordingly, the Mitsui Chemicals Group considers its response to climate change a key issue (materiality). Symbol: Not Climate Event Input: Deployed our investment strategy to address climate change through concrete actions with conclusive results • A $10-billion increase in low-carbon assets, exceeding the initial target of $8 billion, with a new target set at $32 billion by 2020. • A 10% reduction in our portfolio’s carbon intensity, with a target of a 25% reduction by 2025. • High-quality transactions in renewable electricity in the United States, Europe, India and Latin America. • Consolidating expertise within a team dedicated to stewardship investing and initiatives. Symbol: Not Climate Event Input: To help increase access to affordable and sustainable homeownership, in April 2019, we announced the $5 billion Bank of America Community Homeownership Commitment™ to benefit LMI homebuyers over the next five years. The initiative will help more than 20,000 individuals and families achieve homeownership through grants that directly assist homebuyers with their down payments and closing costs. At the end of 2019, the program helped over 9,000 new homeowners with $2.3 billion in mortgage lending. Symbol: Climate Event Input: We define short term as up to a year aligned with budget; medium term as 3-4 years aligned with budget planning; long term as 5-7 years aligned with strategic planning; and, for ad hoc analysis, we define longer term as beyond 7 years. Symbol: Climate Event Input: An additional advantage of these programs is increased pilot diversity, something the industry currently lacks (see 'Case Study: JetBlue Foundation'). Across all of our above mentioned programs, 7% of pilots are women, almost double the national average for airline transport. In Gateway Select, 20% of the pilots in our program are from underrepresented groups, about five times the national average. Symbol: Climate Event Input: In addition, the impacts of physical and transition climate risks can lead to second order connected risks, which have the potential to affect the Barclays Bank Group’s retail and wholesale portfolios. The impacts of climate change may increase losses for those sectors sensitive to the effects of physical and transition risks. Any subsequent increase in defaults and rising unemployment could create recessionary pressures, which may lead to wider deterioration in the creditworthiness of the Barclays Bank Group’s clients, higher ECLs, and increased charge-offs and defaults among retail customers. Symbol: Not Climate Event Input: Energy reductions from LEED certification retrofits are expected to be between 18-39%iii since the energy consumption starting point varies for every building. As energy is typically 25% of a residential building's total operating expenses, energy savings from LEED certification are expected to be between 4.5-10% of the total operating expenses. Symbol:	Not Climate Event
Input: Climate change presents both physical and transition risks to our investment portfolio. Physical risks include the risk of loss due to extreme weather events or longer-term shifts in climate patterns. Transition risks include changes in government policy, regulation, consumer preferences and technology, which may increase the costs of certain assets (e.g. carbon pricing) or their marketability (e.g. stranded assets). These changes may impact the value of our investments. Symbol: Not Climate Event Input: Thus, the Board of Directors, upon recommendation of its Compensation & Governance Committee, and following a comparative review of national, European and industry practices, decided to maintain unchanged, for 2020, the Chief Executive Off icer’s target annual variable compensation, at €1.45 million, i.e. 100% of the amount of his annual fixed compensation. Symbol: Climate Event Input: In addition, the transition to a decarbonized society carries with it the risk of greenhouse gas emission regulations, such as the introduction and strengthening of a carbon tax, and technological improvements or rapid development of renewable energy technologies. There is a possibility that this shift could adversely affect the business performance and financial condition of the Company and its consolidated subsidiaries, especially those engaged in fossil fuel-related business. The likelihood of these climate-related risks is largely dependent on the status of efforts to prevent climate change under the Paris Agreement. Symbol: Not Climate Event Input: Validation We established a common understanding between Toyota Motor Corporation (TMC) and all regions at the global meetings also based on the analyses conducted by overseas affiliates. We also engaged in dialogue with international organizations to validate the issues identified from perspectives outside of the company. The matrix was confirmed by relevant executives. Symbol: Climate Event Input: IFC expands the availability of such technologies by channeling investments toward private companies that build modern communications infrastructure and information-technology businesses. In FY18, we invested $376 million in initiatives related to technology, including funds mobilized from other investors — expanding our portfolio in this sector to more than $2.4 billion. Symbol: Climate Event Input: Dominion East Ohio Pipeline Infrastructure Replacement Program In 2008, our local natural gas distribution company serving 1.2 million customer accounts in Ohio began replacing bare steel, cast iron, wrought iron and copper pipe. Over the next 20 years, we plan to spend at least $160 million annually—also recovered in customer rates—to both replace aging pipes and reduce methane emissions into the air. Symbol: Not Climate Event Input: In 2019, Olam Cocoa invested in a 30,000m3 quayside terminal within Amsterdam Port Area for bulk cocoa bean storage, using technology for increased efficiency, full traceability and reduced logistics costs. It is powered by solar energy, with the product moved using solar power conveyors instead of diesel trucks, reducing carbon dioxide emissions by 80% and power costs by 30%. It has 6 electric vehicle charge points, LED lighting, and hot water powered by an electric heat pump. Symbol: Not Climate Event Input: While the transformation of our systems will continue beyond 2021, we are committed to remaining within the guided transformation investment spend of €1.4 billion equating to an average of 50 to 60 basis points of Common equity tier 1 (CET1) capital annually until 2021. We expect that investment in transformation beyond 2021 will be at a lower level. Symbol: Climate Event Input: The very high-risk categories encompass risk exposure to counterparties mainly in Central Asia and Turkey and several countries outside the Bank's regions (mainly in the Gulf). The risk assessment is done based on the key risk counterparty. In particular, where a project has a guarantee, the physical risk assessment is based on the guarantor, which is considered to be the key risk party in such circumstances. Symbol:	Not Climate Event
Input: In the case of substantial risks at sector level in the field of corporate and project financing, the reporting chain is as follows: Similar mechanisms exist for banking risks, country risks, market price risks and operational risks. Symbol: Climate Event Input: CORPORATE AND HOUSEHOLD DEBT 25 carried out a benchmark study of the banks’ calculated risk weights for exposures to commercial real estate. The results of the two analyses showed that there is a risk that the capital banks have earmarked for lending to commercial real estate will not sufficiently compensate for the credit losses that could arise following a severe financial stress. It is against this background that FI proposes higher capital requirements for lending to commercial real estate (see “Stability in the banking sector”). Symbol: Climate Event Input: Examples of parameters that could impact Equinor’s operations include increasing frequency and severity of extreme weather events, rising sea level, changes in sea currents and restrained water availability. There is also uncertainty regarding the magnitude and time horizon for the occurrence of physical impacts of climate change, which increases uncertainty regarding their potential impact on Equinor. Symbol: Not Climate Event Input: MELBOURNE BACKS BTR In June 2019, we entered into an agreement with developer PDG to deliver 490 purpose-built, BTR apartments as part of the $450 million Munro development in Melbourne’s CBD. The Munro development is a key project within the City of Melbourne’s $250 million renewal of the Queen Victoria Market precinct. Symbol: Climate Event Input: In addition, to the physical risks mentioned previously, rising temperatures could cause an increase in our operation and maintenance costs. Rising temperatures are associated to the reduction of the cycle efficiency of our turbines, a reduction of efficiency in solar photovoltaic modules, lower efficiency in wind facilities and higher consumption of chemicals used for operational purposes in our desalination plants, among others. Symbol: Not Climate Event Input: Accordingly, data for FY2019 is not consistent with data for FY2018 or preceding fiscal years. 3.Data for FY2016 regarding CO2 emissions from Showa Shell business sites is not publicly disclosed. 4.In line with a change in the end of fiscal year, Showa Shell’s FY2018 data is based on emissions during the 15-month period from January 1, 2018 to March 31, 2019. Symbol: Not Climate Event Input: An additional advantage of these programs is increased pilot diversity, something the industry currently lacks (see 'Case Study: JetBlue Foundation'). Across all of our above mentioned programs, 7% of pilots are women, almost double the national average for airline transport. In Gateway Select, 20% of the pilots in our program are from underrepresented groups, about five times the national average. Symbol: Climate Event Input: In December 2019, we established a new suite of 2025 operational sustainability goals with a focus on strategic, collaborative partnerships that drive market transformation, as outlined in our Sustainability Report. The firm has been a member of RE100 since 2015 and recently joined additional initiatives EV100 and EP100 with ambitious commitments to electrify transport and deploy smarter energy use - making us the first US company to become a member of all three of The Climate Group's global corporate leadership initiatives to accelerate the clean energy transition. https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement https://obamawhitehouse.archives.gov/climate-change/pledge https://obamawhitehouse.archives.gov/climate-change/pledge https://bteam.org/our-thinking/news/30-major-ceos-call-on-trump-stay-in-paris https://www.unitedforparisagreement.com/ https://www.linkedin.com/pulse/our-commercially-driven-plan-sustainability-david-m-solomon/ https://clcouncil.org/ https://www.bloomberg.com/cfli/ https://data.bloomberglp.com/company/sites/55/2019/09/Financing-the-Low-Carbon-Future-CFLI-Full-Report-September-2019.pdf https://oneplanetswfs.org/download/23/online-publication/810/one-planet-asset-managers-statement-19-07-10.pdf https://www.goldmansachs.com/s/sustainability-report/ http://there100.org/ https://www.theclimategroup.org/project/ev100 https://www.theclimategroup.org/ep100 https://www.theclimategroup.org/ Symbol: Not Climate Event Input: This strategic plan is based on a number of assumptions, in particular relating to the macroeconomic environment and the development of activities. Failure to achieve these objectives or the occurrence of unexpected events could compromise the achievement of the strategic plan and have a material adverse effect on the Group's business, results of operations and financial position. Symbol:	Climate Event
Input: Businesses subject to this policy and implementation methods In this document, section 4.3.1.3 (1) Financing and Investment Transactions Prohibited Regardless of Sector lists projects for which we prohibit any financing or investment. Symbol: Climate Event Input: In developing our scenario analysis, we used internal data sets and assumptions made in our existing business models. We considered the views of departments across the business to better understand risks and time horizons. We also took the time to consider impacts and dependencies. This helped us to report on the risks and opportunities that are most material to our organization. Symbol: Climate Event Input: Four years ago, we began to significantly increase our exposure to the credit asset class which now stands at $18.3 billion at the end of 2019. We believe that rotating capital away from low-yielding, long-dated government bonds into higher-yielding credit investments provides for a better return on risk in the current low interest rate environment. Symbol: Climate Event Input: Fails to assess a portfolio’s total climate risks, such as the physical risks of extreme weather, flooding and drought or the consequences of more stringent legislation governing energy efficiency. Nor is a carbon footprint a reliable measure of a portfolio’s overall climate potential or how well it is positioned for transition to a carbon-efficient society. Symbol: Not Climate Event Input: Citi is focused on enabling progress in the communities in which we work and live. Together with companies, governments and institutions of all shapes, sizes, scale and scope, we lend, facilitate and invest in products and services that power the global economy. We also recognize that we can play an important role in working with others to address key social and economic challenges facing clients and communities. goal to lend, facilitate and invest $100 billion toward activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities. Symbol: Not Climate Event Input: Around US$16.5 billion of the insured losses caused by natural disasters related to the Camp Fire forest fire in California. This represents the highest loss to date for the insurance industry caused by a forest fire. In addition to further forest fires, 2018 was also notable for hurricanes, of which hurricane Michael and typhoon Jebi caused the greatest losses. Storms David (Friederike) and Eleanor (Burglind) were responsible for a high level of losses for the insurance industry in Europe as well (around US$3 billion). Germany accounted for around two-thirds of the losses. Symbol: Not Climate Event Input: In this document, section 4.3.1.3 (1) Financing and Investment Transactions Prohibited Regardless of Sector lists projects for which we prohibit any financing or investment. Sections 4.3.1.3 (2) Financing and Investment Transactions which Require Additional Due Diligence Regardless of Sector and 4.3.1.3 (3) Policies on Specific Industrial Sectors describe our practices for determining whether to engage in transactions with clients/projects in subject sectors, accounting for the degree to which the client has taken steps to avoid or mitigate risk and other due diligence as appropriate, based on the characteristics of the services we are providing. Symbol: Climate Event Input: Scope 3 greenhouse gas emissions Scope 3 emissions are indirect greenhouse gas emissions as a consequence of the operations of the Company, but are not owned or controlled by the Company, such as emissions from third-party logistics providers, waste management suppliers, travel suppliers, employee commuting, and combustion of sold gas by customers. Symbol: Not Climate Event Input: In order to achieve Environmental Future Vision 2050, we set out the following breakdown of greenhouse gas (GHG) reduction targets for FY2030 and are promoting initiatives to achieve such targets. In 2020, we also acquired approval of the Science Based Targets (SBT) initiative regarding our FY2030 target. Symbol:	Not Climate Event
Input: 2 . As a further decarbonization driver, Eni intends to develop circular economy initiatives aimed at enhancing waste and biomass to extract new energy, new products or materials and to give new life to decommissioned or reclaimed assets. Overall spending in the four-year period 2019-22 for decarbonization, the circular economy and renewables is approximately €3.6 billion including scientific and technological research activities designed to support these issues. Symbol: Not Climate Event Input: Laws, regulations, policies, obligations, social attitudes and customer preferences relating to climate change and the transition to a lower carbon economy could have an adverse impact on our business (including increased costs from compliance, litigation, and regulatory or litigation outcomes), and could lead to constraints on production and supply and access to new reserves and a decline in demand for certain products. Symbol: Not Climate Event Input: If we are unable to attract and retain qualified personnel or fail to maintain our company culture, our business could be harmed. We compete against other major U.S. airlines for pilots, mechanics, and other skilled labor; some of them offer wage and benefit packages exceeding ours. As more pilots in the industry approach mandatory retirement age, the U.S. airline industry may be affected by a pilot shortage. We may be required to increase wages and/or benefits in order to attract and retain qualified personnel or risk considerable crewmember turnover. If we are unable to hire, train, and retain qualified crewmembers, our business could be harmed and we may be unable to implement our growth plans. Symbol: Climate Event Input: – The Emu Downs Solar Farm is a 20MW solar farm, being built next to the Emu Downs Wind Farm site. Synergy, the Western Australian energy provider has entered into a 13-year offtake agreement for both the energy and the Large-scale Renewable Generation Certificates (LGCs), commencing January 2018. The estimated $50 million project will be partially funded with a $5.5 million grant from the Australian Renewable Energy Agency (ARENA). Symbol: Not Climate Event Input: For our stakeholders: for customers, breaches in security may cause personal loss (both financial and emotional). There may also be consequences for relations with suppliers and intermediaries. For investors, any loss of business or reputation could result in lower returns. PSD2 will increase consumers’ control over financial data, but also their responsibility for this data. Symbol: Climate Event Input: 3.3 Building on Intrinsic Business Model Strengths A pillar of the NorthEdge business is the principle of active partnership and influence to deliver on our core purpose. We enable this through relationship building with our target and existing portfolio company management teams. Then, formally known as 'active ownership', we leverage our nonexecutive Director role on investee company Boards, combined with our informal relationship(s), to steer a focus on value creation. Symbol: Climate Event Input: The fund that investment trust plans to issue will be related to environmental protection with green energy and low carbon. The listed corporates of the fund will be focused on the selection from the lower 50% of the quantitative screening criteria for their carbon emissions figures and calculate the carbon emissions per unit of revenue. Symbol: Not Climate Event Input: Compliance Risk Management Compliance risk (a type of operational risk) is the risk resulting from the failure to comply with laws (legislation, regulations and rules) and regulatory guidance, and the failure to appropriately address associated impacts, including to customers. Compliance risk encompasses violations of applicable internal policies, program requirements, procedures, and standards related to ethical principles applicable to the banking industry. Symbol: Climate Event Input: Risks are assessed at least annually. Please refer to Section 6.1 Our approach to risk management, 6.2 Risk categories and factors, 6.3 Strategic risks, 6.4 Operational risks, 6.5 Compliance risks, and 6.6 Financial risks. Symbol:	Climate Event
Input: The Group faces many other risks which, although important and subject to regular review, have been assessed as less significant and are not listed here. These include, for example, natural catastrophe and business interruption risks and certain financial risks. A summary of financial risks and their management is provided on page 25. Symbol: Not Climate Event Input: Accordingly, we have defined the associated risks and opportunities from a medium- to long-term perspective looking to 2030 and beyond rather than based on the short-term timeframe of the three-year medium-term management plan. Symbol: Climate Event Input: Should there be any local special conditions that are not sufficiently addressed by the group or parent strategy, the AI should either raise them with the group or parent for a possible solution or address them locally. In this regard, communication channels should be in place to facilitate the process. Symbol: Climate Event Input: Paired with BlackRock's leadership in financial modeling and the power of Aladdin as a platform, Rhodium's data provides important new risk capabilities for our clients and for the industry.33 Aladdin Climate will power new Aladdin capabilities and add new risk metrics to BlackRock's modeling platform, and we will continue to extend our research across asset classes and geographies over time.34 Risks, opportunities & scenario analysis BlackRock recognizes the importance of effective identification, monitoring, and management of climate- related risks and opportunities across its global business. Symbol: Not Climate Event Input: Back the growth of climate change solutions • Increased lending to climate change solutions, taking total committed exposure to $9.3 billion, progressing towards our 2020 target of $10 billion; • Facilitated $3.6 billion in funding for climate change solutions, exceeding our 2020 target of $3 billion; and • Analysed climate change risks under 1.5, 2 and 4-degree scenarios. Symbol: Not Climate Event Input: In line with this action plan, in 2014 we set the target of “achieving a five-fold increase in value created in terms of climate change countermeasures through the provision of NEC products and services compared to the CO2 emissions from NEC’s supply chain,” and proceeded to carry out initiatives. During fiscal 2019, the value was six times, with a contribution of 33.58 megatons for an mitigation, targeting a reduction of 23 megatons by fiscal 2021, expanding to 50 megatons by fiscal 2031. Moreover, we will reduce CO2 emissions from our own business operations by improving efficiency and shifting to renewable energy. environmental load of 5.62 megatons, representing a significant improvement from 3.5 times in fiscal 2018. This reflects a stronger approach to our suppliers and an increase in provision of disaster measure-related solutions by domestic subsidiaries. Symbol: Not Climate Event Input: In addition, we have been gradually introducing RPA, which uses robots to automate a series of tasks previously performed by employees, resulting in a reduction in work hours of approximately 300,000 hours in the fiscal year ended March 31, 2020. Going forward, we will continue to promote automation and labor savings in data input operations to improve administrative efficiency. Symbol: Climate Event Input: Regulatory risk is the risk of failure to meet new or existing regulatory and / or legislative requirements and deadlines, or a failure to embed compliant procedures into processes. It also includes the risk to the Group's capital, liquidity and profitability from the impact of future legislative and regulatory changes. Symbol: Climate Event Input: Climate resilience In October 2019, we updated our scenario analysis on the value of our generation portfolio, to evaluate the impact of the more ambitious Paris Agreement goal of a 1.5 C carbon reduction pathway.14 Our generation portfolio represented 84 per cent of our operated Scope 1 and Scope 2 emissions in FY2020. Symbol:	Not Climate Event
Input: Business Risk Business risk describes the risk we assume due to potential changes in general business conditions, such as our market environment, client behavior and technological progress. This can affect our results if we fail to adjust quickly to these changing conditions. Business risk consists of strategic risk, tax risk and refinancing risk, of which only strategic risk is assessed as material. Symbol: Climate Event Input: The engagement is driving improved conversations with our customers about climate change risks, allowing us to make more informed lending decisions and policies. Over time we expect more of our customers to report on their transition plans. We also intend for discussions on climate-related risks and opportunities to become part of regular discussions with all Institutional and corporate customers. Symbol: Not Climate Event Input: First microfinance deal in Bulgaria We carried out our first commitment to microfinance in Bulgaria, by guaranteeing up to EUR 700,000 of a EUR 5.1m microcredit portfolio for the JOBS Microfinance Institution. The estimated 320 loans will have a particular emphasis on enterprises created by young entrepreneurs, women, artisans and small-scale farmers. Symbol: Climate Event Input: In regard to public policy risks, S&P Global monitors and engages on relevant developments globally through its Government Affairs function. The Company has established internal governance and reporting frameworks to identify, analyze, elevate, and engage on public policy risks and opportunities, including those associated with climate and environmental policy, sustainable finance, and related legislative initiatives. Symbol: Not Climate Event Input: To help increase access to affordable and sustainable homeownership, in April 2019, we announced the $5 billion Bank of America Community Homeownership Commitment™ to benefit LMI homebuyers over the next five years. The initiative will help more than 20,000 individuals and families achieve homeownership through grants that directly assist homebuyers with their down payments and closing costs. At the end of 2019, the program helped over 9,000 new homeowners with $2.3 billion in mortgage lending. Symbol: Climate Event Input: The scientific community has concluded that increasing global average temperatures produces significant physical effects, such as the increased frequency and severity of hurricanes, storms, droughts, floods or other extreme climatic events that could interfere with Eni’s operations and damage Eni’s facilities. Extreme and unpredictable weather phenomena can result in material disruption to Eni’s operations, and consequent loss of or damage to properties and facilities, as well as a loss of output, loss of revenues, increasing maintenance and repair expenses and cash flow shortfall. Symbol: Not Climate Event Input: An additional advantage of these programs is increased pilot diversity, something the industry currently lacks (see 'Case Study: JetBlue Foundation'). Across all of our above mentioned programs, 7% of pilots are women, almost double the national average for airline transport. In Gateway Select, 20% of the pilots in our program are from underrepresented groups, about five times the national average. Symbol: Climate Event Input: BNP Paribas conducted two studies in 2019 to as- sess the resilience of its loan books to transition risks and physical risks. - The Industry Research Department (EIS) of the Group Risk Department performed an internal analysis on five-year energy and climate-related risks, physical risks and transition risks. This report is part of the Group's standard analysis of syste- mic risks, inter alia in the context of the analyses conducted by EIS on the impact of different risk factors on economic sectors. The purpose of the analysis was to identify and assess the main en- ergy transition and climate change risks incurred by BNP Paribas. It notably examined the impact of climate change on sovereign risk and the more or less significant exposure of various economic sectors to energy transition risks and opportuni- ties. This broad, detailed study found BNP Pari- bas' business model to be resilient to these risks, with respect to: o its businesses, and the sector and geographic classifications of its portfolios; o the measures taken to mitigate these risks. - For the first time, in 2019 and with the help of external specialists, BNP Paribas performed an assessment, on a sample of clients in its portfolio, of physical risks covering the consequences of cli- mate change (extreme weather events) on the as- sets of Group clients. They generate financial risks for companies not only through direct impacts on their assets, but also in terms of indirect impacts through their supply chains and markets. For each counterparty analysed, the final score of exposure to physical risks is based on three risk factors: operational risks, supply chain risks (upstream) and risks of market share losses (downstream). Symbol: Not Climate Event Input: BNP Paribas Asset Management has committed to align its portfolios with the goals set out in the Paris Agreement. To that end, in 2019 BNP Paribas Asset Management announced that it would be implementing a new, more restrictive coal policy, which took effect on 1 January 2020. The policy applies to all open-ended funds actively managed by BNP Paribas Asset Management, and is set to become the standard for mandates as well. As of 2020, BNP Paribas Asset Management no longer invests in companies generating more than 10% of their revenue from thermal coal operations and/or for which thermal coal represents 1% or more of their total global production. Electricity producers with a carbon intensity exceeding the global average of 491 gCO2e/kWh in 2017 will also be ruled out, as BNP Paribas Asset Management aligns itself with the path set to reach the Paris Agreement goals, as determined by the IEA in its Sustainable Development Scenario (SDS). This scenario calls for electricity producers to reduce their carbon intensity to 327 gCO2e/kWh by 2025. Accordingly, BNP Paribas Asset Management will require the companies it invests in to reduce their carbon intensity to an SDS-compatible rate between 2020 and 2025, excluding those who fail to do so. Symbol:	Not Climate Event
Input: Blended Finance Catalyst Pool In 2018, we launched our Blended Finance Catalyst Pool to mobilize additional private capital to help address the U.N. Sustainable Development Goals. This financing initiative provides $60 million of capital for Affordable and Clean Energy (SDG7), Sustainable Cities and Communities (SDG11), Clean Water and Sanitation (SDG6), and Climate Action (SDG13), among others. Symbol: Not Climate Event Input: These sector-specific policies are usually developed by the AI taking into account relevant industry certification schemes, international practices, its strategy, level of exposure to the particular sector, and even its engagement with customers, industry experts, shareholders and the community. Symbol: Climate Event Input: Risk committees Effective risk management requires company-wide risk governance. ING's risk and control structure is based on the 'three lines of defence' governance model, whereby each line has a specific role and defined responsibilities and the execution and control of tasks are separated. At the same time, the three lines have to work closely together to identify, assess and mitigate risks. This governance framework is designed to manage risk in line with ING's overall risk appetite as approved by the Management Board Banking, Executive Board and Supervisory Board. Symbol: Climate Event Input: OPG’s total forecast capital expenditures for the 2018 year are approximately $2.1 billion. This includes amounts for the Darlington Refurbishment project, hydroelectric and other development projects including the Ranney Falls GS redevelopment and construction of the Nanticoke solar facility, and sustaining capital investments across the generating fleet. OPG’s major projects are discussed in the section, Project Excellence. Symbol: Not Climate Event Input: This transition does not, however, automatically translate into a financial risk for us. For example, motor insurance is the most important business line of the re/insurance sector globally. According to Swiss Re's sigma database, it currently represents approximately 33% of global non-life gross written premiums and is expected to grow further, albeit at a lower rate. Symbol: Climate Event Input: Operations and Greenhouse gas Emissions: To ensure we remain a leader in implementing sustainability practices and reducing operational risk, our Services Division is committed to minimizing the impact of our operations on the environment and adopting best practices. We have been carbon neutral across our global operations and business travel since 2015, and are progressing on our 2020 operational goals. Additionally, alongside the sustainable finance target, we announced new operational goals for 2025, with a focus on strategic, collaborative partnerships that drive market transformation. See Our Operational Impact. Symbol: Not Climate Event Input: MARKE T: As the carbon debate intensifies, cement and concrete could be challenged by our customers as the building material of first choice because of perceived high embodied CO2. In the long term, should regulatory frameworks fail to incentivize consumption of low-carbon products, customers may be unwilling to pay for additional costs and the cement sector’s low-carbon roadmap might be compromised. Symbol: Not Climate Event Input: In general, the Group's strategic risks were stable during the year with competitor capacity being monitored and assessed within the Group. IAG continues to support deregulation, manage its supplier base and explore opportunities for consolidation. Symbol: Climate Event Input: NEW SOLUTIONS FOR SUSTAINABLE MOBILITY In addition to the research projects already mentioned on biofuels and hydrogen, Eni is investing in new fuels produced from waste: in this area a project is currently being assessed at the Livorno Re- finery involving production of methanol by high temperature gasification with oxygen of solid urban waste, made up of non-recyclable plastic waste (Plasmix, a mix of plastics not currently recyclable and SSF, Secondary Solid Fuel). The process is based on production of a synthetic gas from carbon-based material. The synthetic gas produced in this way is first purified so that it can subsequently be used to synthesise methanol or to produce pure hydrogen. Methanol produced using waste as a raw material could be considered as a Recycled Carbon Fuel, as provided for by the RED II European directive on renewable energy, and therefore assimilable to a biofuel. It can be used in petrols by transformation into MTBE, or mixed with experimental high alcohol content petrols together with bioethanol (A20 pet- rol). A new fuel, A20, based on a mix containing 15% methanol and 5% bioethanol has been developed with the FCA Group and subjected to a 13-month test in which five Fiat 500s of the Enjoy fleet travelled about 50,000 km, when rented out for a total of 9,000 times, without encountering any problems. A Waste to Fuel technology has also been developed that is able to convert the organic fraction of solid municipal waste (OFMSW) into bio-oil (see box on p. 39 of Eni for 2019 - A just transition). Symbol:	Not Climate Event
Input: We made three key commitments to deal with key land, urban and industry shifts. These included launching a partnership with ClimateWorks Australia to develop sustainable agricultural metrics to improve natural asset management, investing $2 billion in affordable housing and investing $2 billion in the emerging technology sector to spur innovation by 2025. Symbol: Not Climate Event Input: MELBOURNE BACKS BTR In June 2019, we entered into an agreement with developer PDG to deliver 490 purpose-built, BTR apartments as part of the $450 million Munro development in Melbourne’s CBD. The Munro development is a key project within the City of Melbourne’s $250 million renewal of the Queen Victoria Market precinct. Symbol: Climate Event Input: Climate change The EIB Group has committed to aligning to the principles and goals of the Paris Agreement by the end of 2020 and will gradually increase the share of its financing dedicated to climate action and environmental sustainability, expecting to support in total EUR 1 trillion of investments by 2030 (see the Looking Ahead Chapter). Symbol: Not Climate Event Input: - - A new loan or a subsequent decision for an existing loan is then approved depending on the extent of the risk ('risk exposure') by the relevant decision-making level (Senior Manager, Vice President, Team Head, Head of Division or Head of Department, Group Credit Risk Committee, entire Executive Board, Board of Supervisory Directors). Symbol: Climate Event Input: MARKE T: As the carbon debate intensifies, cement and concrete could be challenged by our customers as the building material of first choice because of perceived high embodied CO2. In the long term, should regulatory frameworks fail to incentivize consumption of low-carbon products, customers may be unwilling to pay for additional costs and the cement sector’s low-carbon roadmap might be compromised. Symbol: Not Climate Event Input: In development, too, we must harmonise the desire to create jobs and growth with a serious approach to climate investment. After all, our EU climate action will not stop global warming by itself, because 90% of emissions are generated outside the European Union. If the growing demand for energy in Africa, for example, is addressed through coal- and gas-fired power plants, our climate ambitions will literally go up in smoke. Symbol: Not Climate Event Input: Our offerings are designed to meet the specific needs of IFC clients in different industries — with a special focus on infrastructure, manufacturing, agribusiness, services, and financial markets. In FY18, we made $11.6 billion in long-term investments in 366 projects. In addition, we mobilized nearly $11.7 billion to support the private sector in developing countries. Symbol: Climate Event Input: International political, social and economic risks Equinor has international interests located in regions where political, social and economic instability could adversely affect Equinor’s business. Equinor has assets and operations located in diverse regions globally where potentially negative economic, social, and political developments could occur. These political risks and security threats require continuous monitoring. Uncertainty exists around the UK`s exit from the EU and the potential market impact. Symbol: Climate Event Input: As an outcome of the nanced emissions and low-carbon scenario work, the Group has committed to work closely with 100 of its largest greenhouse gas emitting customers to support them in developing or improving their low carbon transition plans by 2023. Symbol:	Not Climate Event
Input: The second half of 2017 had unprecedented weather events, particularly in Florida and the Caribbean. Hurricanes Irma and Maria resulted in over 2,500 canceled flights or 3% of departures. Following large weather events, it is common to see lingering demand impact similar to what we experienced in New York, following superstorm Sandy in 2012. Symbol: Not Climate Event Input: Our offerings are designed to meet the specific needs of IFC clients in different industries — with a special focus on infrastructure, manufacturing, agribusiness, services, and financial markets. In FY18, we made $11.6 billion in long-term investments in 366 projects. In addition, we mobilized nearly $11.7 billion to support the private sector in developing countries. Symbol: Climate Event Input: The EBRD is financing the delivery of energy supplies from Azerbaijan to Europe along the Southern Gas Corridor with a US$ 500 million (€417 million equivalent) loan that will help fund completion of the Trans-Anatolian Gas Pipeline. Bank engagement in the project will ensure that it meets the highest environmental standards. Symbol: Not Climate Event Input: The enterprise risks were categorized as an external, operational or strategic risk. External risks emerge from outside the organization, operational risks arise from within the organization, and strategic risks are associated with our strategic initiatives. The identified risks can significantly affect the Association’s finance, relevancy and reputation if mitigations are not in place. Symbol: Climate Event Input: Business Risk Business risk describes the risk we assume due to potential changes in general business conditions, such as our market environment, client behavior and technological progress. This can affect our results if we fail to adjust quickly to these changing conditions. Business risk consists of strategic risk, tax risk and refinancing risk, of which only strategic risk is assessed as material. Symbol: Climate Event Input: Business interruption An external hazardous event (floods, riots, fires etc.) or internal disruption (e.g. availability of critical spare parts, global supply chain complexity etc.) may result in a significant period of plant shutdown or disruption and hence in delayed/non-delivery of our products to internal and/or external customers, ultimately leading to adverse financial and reputational consequences. Symbol: Not Climate Event Input: The foregoing list of risk factors is not exhaustive. Additional information about these factors can be found in the Risk Management section of the Bank's 2019 Annual Report. This information may be updated in our quarterly Shareholder Reports. Investors and others who rely on the Bank's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Symbol: Climate Event Input: Risk Impact Assessment of change in risk year-on-year Mitigation of risk absorber tubes, blades, PV panels or transformers are susceptible to being damaged by severe weather, including for example hail. In addition, replacement and spare parts for key components may be difficult or costly to acquire or may be unavailable Symbol: Not Climate Event Input: In 2019, Bankinter committed to including the Task Force on Climate-related Financial Disclosures recommendations in its business model and drew up a road map for this purpose. Further, a sustainable finances work group was created to address future EU regulatory requirements. Symbol:	Not Climate Event
Input: In 2018, our Robo Investment Subsidiary Wealthify launched an ethical investment option, focused on four ethical/SRI funds. Interest from customers has grown steadily with 25% of new customers selecting the ethical option. This now accounts for 13% of total assets under allocation for Wealthify and growing. Symbol: Not Climate Event Input: ACTION PLAN 2020-2023 Given the uncertainties relating to the macroeconomic and political outlook and the complexity of the interaction between measures to combat climate change and energy demand, we maintain a prudent financial approach in investment decisions. The four-year investment plan, focused on high-value projects with short pay-back period, provides for investments of around €32 billion in 2023 and is characterized by a high level of flexibility with around 60% of investments uncommitted in 2022-2023. Eni's investment program has been designed to achieve high-returns and resiliency even in a challenging scenario. In particular, the current portfolio of upstream projects in execution has a break-even price of 23 $/bbl (25 $/bbl in the previous plan) and an overall IRR of approximately 25%. These projects remain competitive even in a low carbon scenario. Adopting the IEA SDS scenario, which foresees a huge increase in the costs of emitting CO Symbol: Not Climate Event Input: As our activities advance, the metrics and targets we use to monitor our success will likely evolve as well. Through our participation in industry groups, we intend to continue developing appropriate metrics that can be adopted consistently by financial institutions to provide comparable, decision-useful information to investors. Symbol: Climate Event Input: Potential risk Disruptions to operations and client services Actions to mitigate risk - We identify properties that we lease or own, which contain business processes and supporting applications that require enhanced facility infrastructure to mitigate site disruptions, such as those caused by extreme weather events. Symbol: Not Climate Event Input: By their very nature, these forward-looking statements require assumptions to be made and involve inherent risks and uncertainties, both general and specific. Assumptions about the performance of the Canadian and U.S. economies in 2020, including in the context of the COVID-19 pandemic, and how that affect the Bank's business are among the main factors considered in setting the Bank's strategic priorities and objectives. Symbol: Climate Event Input: The PDO for Johan Sverdrup Phase 2 was approved in May 2019 and will involve the installation of an additional processing platform at the field centre, a major module on the existing riser platform and subsea facilities to reach the satellite areas of the field. The project will bring gross production capacity to 660 Mbopd, and is progressing according to plan with first oil scheduled during the fourth quarter of 2022. Symbol: Not Climate Event Input: The Group is exposed to multiple risks relating to the conduct of its general insurance business. The following risks noted below are not meant to represent an exhaustive list, but the risks faced by the Group that have been identified by the RMS process:  strategic risk: the risk of not achieving corporate or strategic goals; Symbol: Climate Event Input: Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. Symbol: Climate Event Input: However, Iberdrola has plans, technology and predictive systems that allow for the impacts arising from these events to be minimised, some of which we describe below: o Meteoflow predictive system, the main purpose of which is to predict the electricity production of renewable facilities, which, as part of their continuous improvement, has included the functionalities of predicting extreme meteorological phenomena, which allows for the activation of emergency plans sufficiently in advance and better management of maintenance equipment and emergency retainers to increase their resiliency. o The importance of smart grids to respond to extreme events like what occurred in Symbol:	Not Climate Event
Input: Creating value Measuring our reputation KPI FY19 FY18 FY17 FY16 FY15 AGL‘s Reptrak score declined since FY18. The drop in AGL‘s reputation over the past year has been driven by declining scores on three important dimensions of reputation – leadership, workplace and citizenship. This decline in reputation was consistent with scores across the energy industry as a whole. Symbol: Climate Event Input: IAG is exposed to multiple risks relating to the conduct of its general insurance business. The risks noted below are not meant to represent an exhaustive list, but outline those risks faced by IAG that have been identified in IAG's RMS:  strategic risk – the risk of not achieving corporate or strategic goals due to poor business decisions regarding future business plans and strategies and/or a lack of responsiveness to changes in the business environment; Symbol: Climate Event Input: We have defined key sustainability areas in our 5-Year Business Plan in line with the expectations and requirements of stakeholders and based on the importance and affinity of such initiatives with our strategy, as well as on the medium- to long-term impact on our corporate value. Based on this, each in-house company, unit, and group will establish a strategy incorporating sustainability initiatives. Additionally, we have set targets/KPIs based on our key sustainability areas. The key sustainability areas and other items are revised each fiscal year and reflected into our business plan. Symbol: Not Climate Event Input: In April 2018, the Group successfully completed a refinancing to convert floating to fixed debt and to extend the debt maturity out to November 2025. The Group issued a US$300 million bond with a fixed interest rate of 6.625%, which was swapped back to sterling upon issuance at an effective interest rate of 5%. The proceeds of the new issue were used to repay in full the £200 million floating rate bond issued in 2017 which had a maturity of 2022. Symbol: Climate Event Input: Further notable figures can be seen from developments recorded this year. For instance, renewable electricity to be supplied to local communities in Senegal now totals 150MW, through four Meridiam solar projects. We have also increased our portfolio of Waste to Energy (WTE) projects to eight, totalling €224m of equity invested, including the Olstyn WTE project in Poland, which will provide renewable energy in place of fossil-fuelled power for the 270,000 inhabitants of Olstyn. Symbol: Not Climate Event Input: Several tools and methodologies aimed at assessing the exposure of loan books and investment portfolios to climate risks (transition risks and physical risks) are currently being examined across the Group. - BNP Paribas has made a commitment to the Science-Based Target initiative (SBTi). This coalition comprises the Carbon Disclosure Project (CDP), the UN Global Compact, the World Resources Institute (WRI) and the WWF, with the aim of supporting companies interested in setting environmental targets in line with the Paris Agreement goals. As Science Based Targets Initiative - Climate Change has not yet determined a methodology for setting such targets for companies in the financial sector, BNP Paribas is participating in Science Based Targets Initiative - Climate Change working groups to help develop one; - The Group signed the Katowice Commitment in 2018, and the Collective Commitment to Climate Action signed, in September 2019, by 33 banks that are also signatories of the Principles for Responsible Banking (PRB) under the aegis of United Nations Environment Programme FI (United Nations Environment Programme Finance Initiative). The Group has thus undertaken to develop tools that can be used to align its loan book with the goals of the Paris Agreement. In 2019, BNP Paribas tested the methodology developed by the think tank '2 Degrees Investing Initiative'26. - Lastly, in December 2019, BNP Paribas signed the Poseidon Principles promoting decarbonisation of the maritime transport industry by encouraging banks to incorporate climate considerations in their portfolios and credit decisions. Their objective is to meet the goal set by the International Maritime Organization (IMO) to reduce Greenhouse gas emission in maritime transport by at least 50% by 2050 (compared to 2008 levels). They will serve to measure and oversee the Carbon dioxide intensities of shipping finance portfolios, with a methodology used by all signatory banks. Symbol: Not Climate Event Input: CN invested $1.6 billion in basic track infrastructure in 2017 to improve the safety and fluidity of our network. The work included the replacement of more than 2.2 million cross ties and the installation of over 600 miles of new rail, as well as bridge repairs, branch line upgrades and other general track maintenance. In 2018, CN is targeting a record $3.2 billion in total capital investment, up Symbol: Climate Event Input: - green business development through: (i) a growing commitment to renewable energy (approximately 1,000 MW installed power in 2021); (ii) development of the second phase of the Venice biorefinery and the completion, by the end of 2018, of the Gela biorefinery; (iii) strengthening of green chemistry, with production of bio-intermediates from vegetable oil at Porto Torres, studies and partnerships with other operators. Eni's capex for the 2018-2021 four-year period amount to more than €1.8 billion, including R&D costs to support path to decarbonization. Symbol: Not Climate Event Input: In addition, BlackRock's operations are carbon neutral. This achievement includes Scope 1, Scope 2, and Scope 3 employee business travel, serviced offices,2 and co-located data center emissions. We have achieved this milestone by employing energy efficiency strategies, achieving our 100% renewable energy goal,3 and offsetting emissions we could not otherwise eliminate.4 Symbol:	Not Climate Event
Input: We could suffer losses and our business has been and could be adversely affected by the failure to adopt and implement effective risk management We have implemented risk management strategies, policies and internal controls involving processes and procedures intended to identify, monitor and manage risks facing the Group. However, our risk management framework has not always been, or may not in the future prove to be, effective. Symbol: Climate Event Input: Our new policy measures outlined on page 1 will play a key role in shaping our portfolio over the coming years and help ensure we stay on track to meet our longer term goal. Symbol: Climate Event Input: While the transformation of our systems will continue beyond 2021, we are committed to remaining within the guided transformation investment spend of €1.4 billion equating to an average of 50 to 60 basis points of Common equity tier 1 (CET1) capital annually until 2021. We expect that investment in transformation beyond 2021 will be at a lower level. Symbol: Climate Event Input: The Technology and Operations and Enterprise Services teams work with Corporate Sustainability to implement initiatives to reduce the environmental impact of BlackRock's operations. In addition, BlackRock's Business Continuity Management and Disaster Recovery planning, strategy, and crisis management activities are managed by the Business Continuity Management team, which sits within Enterprise Services. Symbol: Not Climate Event Input: In relation to our commercial activity we have set a green finance target to raise and facilitate 120Bn euros between 2019 and 2025 and 220Bn euros between 2019 and 2030. This includes Santander's overall contribution to green finance: project finance, syndicated loans, green bonds, capital finance, and export finance, advisory and other products to help our clients in the transition to a low carbon economy. Symbol: Not Climate Event Input: We are committed to net zero. At the same time, we cannot see a viable path to a 100 percent reduction in our greenhouse gas emissions based on our current or potential asset mix and technologies. Committing to 100 percent carbon- and methane-free operations, without adequate technology and forceful policy and regulatory prescriptions, would jeopardize our mandate to provide safe, reliable, and affordable energy to our customers. Symbol: Not Climate Event Input: The sensitivity analysis does not show a comprehensive picture of all potential scenarios. Further, variables do not tend to move in isolation, nor in a uniform or consistent manner, and the analysis does not show the potentially infinite number of permutations, and resultant impacts, that might arise in reality as a consequence. Symbol: Climate Event Input: Since 2008, the Fund has invested in green bonds, as part of the listed fixed- income portfolio, which are expected to contribute positively to the climate transition. Since 2015, green bonds have been a separate asset class in the strategic portfolio. In 2019, the Fund also decided to increase its strategic allocation from 1.0 to 3.0 per cent, which is equivalent to more than SEK 11 billion. AP2 has the last few years also invested in social bonds. Symbol: Not Climate Event Input: However, in France, employees are involved in the Bank's long-term development through profit-sharing and/or incentive schemes. They are linked to the Company's overall performance (financial and non-financial) and regulated by Societe Generale agreements signed with the trade unions every three years. For Societe Generale SA in France, out of the total amount of profit-sharing and incentives paid in 2018 for the financial year 2017, 4% was relating to Symbol:	Climate Event
Input: We also offer on-lending through the ABC Program (Low Carbon Agriculture), the agribusiness line from BNDES to finance projects reducing greenhouse gas emissions from agriculture, livestock and deforestation by expanding cultivated forests and recovering degraded areas. In 2015, we signed the amount of, approximately, R$15 million through this program. For more information, please visit: www.bndes.gov.br/apoio/abc.html. Symbol: Not Climate Event Input: We are Australia's largest corporate purchaser of electricity from renewable projects connected to the grid under project specific agreements. While the output from these projects goes into the total grid pool, rather than directly into our facilities, these agreements play a role in providing the investment certainty to enable these projects to proceed. As the grid itself increases its proportion of renewable energy due to agreements with us and others, the power that flows into our facilities from the grid also becomes greener. The projects we have agreements with, including the Murra Warra Wind Farm and the Emerald Solar Park, generate renewable energy equivalent to the energy consumption of 255,000 households. We will continue to build on this work and invest in renewable energy generation. Symbol: Not Climate Event Input: The initiative has four working groups; government bonds, listed equities and corpo- rate bonds real estate and strategic asset alloca- tion. Representatives from AP2 participate in the steering group and in the working groups for government bonds and real estate. Symbol: Climate Event Input: In terms of piloting, we are analysing CIB listed companies sub-portfolio data (about 30 percent of the total in terms of EAD of given portfolio) while for remaining companies we are applying proxies based on sector and size of the company. Symbol: Climate Event Input: The quantitative investment strategies focus mainly on stock picking based on quality and valuation. It is precisely these strategies, which yield long-term value and are suitable for large portfolios, that tend to perform poorly in a context of highly accommodative central bank monetary policies. In 2019, all major quantitative investment styles performed poorly; stock picking based on valuation and quality and stock picking based on recent price trends both yielded negative returns. This combination is seldom seen. Symbol: Climate Event Input: To advance Science for Community, we unveiled an additional 2025 Sustainability Goal. Through the expansion of 3M Impact, our skills-based employee volunteer program, we committed to 300,000 work hours of service across the globe. We formed a new partnership with the international non-governmental organization Clean Air Asia, which will leverage 3M’s expertise to improve air quality and the lives of people in New Delhi and Metro Manila. Symbol: Not Climate Event Input: For example, CN’s investments of approximately $850 million in long sidings and double track since 2000 have enabled 42% higher car velocity and 59% more RTMs. With our sights firmly set on the long haul, we plan to invest a record $3.2 billion in 2018 to improve the safety, efficiency and capacity of our network. Symbol: Not Climate Event Input: Reputation: In managing our reputation we seek to avoid the loss of credibility due to internal or external factors. Many types of risk have the potential to negatively impact our corporate reputation. Internal business practices, or those of our business partners or the companies in which we invest, may generate reputation harm. Consequences include diminished brand efficacy in commercial markets, impeding our ability to execute our strategy and our status as investor, partner and employer of choice. Symbol: Climate Event Input: In addition to the carbon risk scenario analysis, S&P Global took steps to further explore the risks and opportunities presented above to assess and plan for a range of potential scenarios. The CFO convened a Scenario Discussion Workshop where members of senior leadership discussed the Company's current state, considered possible future scenarios, identified different risks and opportunities within these scenarios, and discussed the financial implication of these impacts on the Company. Symbol:	Not Climate Event
Input: The sensitivity analysis does not show a comprehensive picture of all potential scenarios. Further, variables do not tend to move in isolation, nor in a uniform or consistent manner, and the analysis does not show the potentially infinite number of permutations, and resultant impacts, that might arise in reality as a consequence. Symbol: Climate Event Input: We have devoted significant resources to develop our risk management capabilities and expect to continue to do so in the future. Nonetheless, our risk management strategies, models and processes, including our use of various risk models for assessing market exposures and hedging strategies, stress testing and other analysis, may not be fully effective in mitigating our risk exposure in all market environments or against all types of risk, including risks that are unidentified or unanticipated. Symbol: Climate Event Input: Sustainable Development Goals ('SDGs') Analytics In 2020, Trucost launched a Sustainable Development Goal analytics tool allowing financial institutions to assess portfolio alignment to the UN Sustainable Development Goals (SDGs). Trucost's Sustainable Development Goal analysis tool is an extension of Trucost's Sustainable Development Goal Evaluation tool launch in 2018 to help companies align business strategies with the goals. The Sustainable Development Goals are a global blueprint adopted by the world's governments to achieve a better and more sustainable future for all. Symbol: Not Climate Event Input: Compliance Risk Management Compliance risk (a type of operational risk) is the risk resulting from the failure to comply with laws (legislation, regulations and rules) and regulatory guidance, and the failure to appropriately address associated impacts, including to customers. Compliance risk encompasses violations of applicable internal policies, program requirements, procedures, and standards related to ethical principles applicable to the banking industry. Symbol: Climate Event Input: Each presentation includes the following: an overview of the business group, shortand long-term financial performance and goals, an assessment of portfolio growth opportunities, and strategic priorities to drive our Value Model. Symbol: Climate Event Input: A challenge for today, not tomorrow Aviva has a long-term commitment to tackle climate change. In 2015, we announced an investment target of £500 million annually for the next five years in low-carbon infrastructure. We also set an associated carbon savings target for this investment of 100,000 tonnes of CO2e annually. In 2017, Aviva Investors signed £527.5 million of new investment in wind, solar, biomass and energy efficiency. Aviva continues to manage the impact of our business on the environment. Our Corporate Responsibility, Environment and Climate change business standard focuses on the most material operational environmental impacts, which we have identified as greenhouse gas emissions. We report these as carbon dioxide equivalent emissions (CO2e) on an operational basis in respect of Aviva’s Group-wide operations. See the table below. Symbol: Not Climate Event Input: Cornwall’s energy ambitions At the end of 2016, we announced a £19 million local energy market trial in Cornwall, UK. The three-year trial will test how flexible demand, generation and storage can reduce pressure on the electricity grid, enable the growth of renewables and avoid expensive network upgrades. Since then, over 300 homes and businesses registered to get involved and in 2017, we welcomed our first business to the trial – a working farm and holiday retreat. Pioneering battery storage technology was installed to help them better manage the energy generated by their solar panels. In 2018, we expect to roll-out storage and solar panels in 100 homes and commence larger installations of storage, renewables and distributed generation across 15 businesses. Symbol: Not Climate Event Input: We also invested €4.3 million in energy efficiency projects which reduced energy consumption by 300 million MJ. Projects that contributed to this achievement include cooling improvements in eight countries, improvements in lighting efficiency in 12 countries, electrical power optimisation in three countries and heat recovery from ground water in Hungary. Air and steam leakage prevention programmes were also implemented at all 66 of our production sites during the year. Symbol: Not Climate Event Input: - For the first time, in 2019 and with the help of external specialists, BNP Paribas performed an assessment, on a sample of clients in its portfolio, of physical risks covering the consequences of climate change (extreme weather events) on the assets of Group clients. Symbol:	Not Climate Event