rexarski/distilroberta-tcfd-disclosure
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Does the company describe its processes for identifying and/or assessing climate-related risks? | We communicate regularly with issue experts in the International Maritime Organisation and other UN agencies, as well as national agencies, for example, the Danish Institute of Human Rights. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | We are also in regular contact with non-governmental organisations such as Oxfam IBIS, Action Aid, and Transparency International, universities and think tanks, just as we respond to questionnaires and surveys from investors and ranking agencies. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | As a global provider of transport and logistics services, we are often called on for expert input and industry insights by government representatives. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Locally, our representatives are in dialogue with governments and authorities as part of the ongoing interaction between authorities and the business community. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Consistency in position and messages is a key concept in our work. | Risk Management a) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Further declines in the cost of renewables and, in some scenarios, the impact of high carbon pricing leads to the retirement of most of our thermal assets by 2040. The stress test conclusion is that our corporate strategy is resilient across the three scenarios. | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | We ultimately selected the International Energy Agency’s (IEA) 2017 World Energy Outlook (WEO) for transition risk scenarios, and for physical risk scenarios, we selected the Representative Concentration Pathways (RCPs) established by the Intergovernmental Panel on Climate Change’s (IPCC) Fifth Assessment Report (AR5). | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Our climate resilience stress test is fundamentally an in-depth financial analysis assessing the sensitivity of gross margin across our entire business – from every individual plant, up through to our strategic business units. Our effort was guided by a steering group consisting of members from our financial planning and analysis, corporate risk and strategy, sustainability, legal, operations and other teams. | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Given our modest exposure to direct carbon risk and our pivot toward Clean Energy Growth Platforms, transition risk can enhance our upside potential. | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | The scenarios highlight the upside growth exposure our platforms create as we take or maintain leading market positions that are directly aligned with technologies required to unlock a low-carbon economy. | Strategy c) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | This target is reflected in Aker BP’s planning assumptions, which show an increase in both the EUA and national carbon tax over the next 10 years, reaching the targeted level set by the Government for 2030. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Aker BP’s carbon price assumptions are significantly higher than the prices assumed in the IEA’s scenarios. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | As regards carbon prices, Aker BP’s internal assumptions significantly exceed prices assumed under the IEA’s scenarios. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Aker BP’s assumed carbon price reaches USD 235/tCO2 in 2030, assumed flat thereafter. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | The analysis shows that, even under the most ambitious energy transition scenarios, the impact on our portfolio value is limited to 12 percent. | Metrics and Targets a) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Internal analysis shows that our proprietary investment portfolio, and especially the listed equity asset class, is most sensitive to climate transition scenarios. | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Due to this finding, we have further analyzed our risk exposure through macroeconomic research and a dedicated first carbon stress test. | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | With that we combine complementary top-down with bottom-up approaches. (see section 05.4 for carbon stress test results). | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | The findings of this macroeconomic analysis have also been used for internal analysis, for example on the proprietary investment portfolio. | Strategy c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Assets and business impact under transition scenarios (source: Allianz, excerpt) | Strategy c) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Another instrument is the yearly Top Risk Assessment with the goal to identify and remediate significant threats to financial results, operational viability, reputation and the delivery of key strategic objectives, regardless of whether they can be quantified or not. Climate-related factors are included in Top Risk Assessments conducted both on the level of operating entities as well as the Group. For more details on these risk management processes please see the Risk and Opportunity Report on page 76-92. of the Allianz Group Annual Report 2019. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Climate-related risks are addressed as part of an overarching qualitative and quantitative risk reporting and controlling framework. Early-warning indicators are monitored and regularly reported to senior management through risk dashboards, risk capital allocation and limit consumption reports, where climate aspects become material. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Experts at Allianz Reinsurance – including meteorologists, hydrologists, geophysicists, geographers and mathematicians – model around 50 natural catastrophe scenarios for Allianz Group, with data captured using best-in-class standards, mapping a range of perils and regions. The results provide the basis for group-wide risk monitoring, risk limits and subsequent business decisions. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Our natural catastrophe models are regularly updated according to newest scientific information. We are continuously improving the inclusion of global natural catastrophe hazard information, including climate, into underwriting decisions. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | As an additional layer, building on the explanations in the Governance chapter, the Climate Integration team within the Corporate Responsibility department as well as the ESG Task Forces work on early identification, measurement and business integration of risks as well as of opportunities arising from physical climate change and the low-carbon transition. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | Another instrument is the yearly Top Risk Assessment with the goal to identify and remediate significant threats to financial results, operational viability, reputation and the delivery of key strategic objectives, regardless of whether they can be quantified or not. Climate-related factors are included in Top Risk Assessments conducted both on the level of operating entities as well as the Group. For more details on these risk management processes please see the Risk and Opportunity Report on page 76-92. of the Allianz Group Annual Report 2019. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Climate-related risks are addressed as part of an overarching qualitative and quantitative risk reporting and controlling framework. Early-warning indicators are monitored and regularly reported to senior management through risk dashboards, risk capital allocation and limit consumption reports, where climate aspects become material. Supplemented by quarterly updates, senior management decides on a risk management strategy and related actions. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | One key tool is the Allianz Risk Capital Model, which amongst others, assesses natural catastrophe events for the upcoming year on subsidiary and Group level. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | As an additional layer, building on the explanations in the Governance chapter, the Climate Integration team within the Corporate Responsibility department as well as the ESG Task Forces work on early identification, measurement and business integration of risks as well as of opportunities arising from physical climate change and the low-carbon transition. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Experts at Allianz Reinsurance – including meteorologists, hydrologists, geophysicists, geographers and mathematicians – model around 50 natural catastrophe scenarios for Allianz Group, with data captured using best-in-class standards, mapping a range of perils and regions. | Risk Management b) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | In the first half of 2019, we ran pilot portfolios on climate-related target-setting and steering which allowed us to identify data gaps, derive monitoring and steering approaches and metrics as well as potential investment management actions. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Actively contributed to setting up the UN-convened Net-Zero Asset Owner Alliance, a group of asset owners committed to reduce the GHG emissions of their investment portfolios to net-zero by 2050, consistent with a maximum temperature rise of 1.5°C. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Set long-term and intermediary climate targets for our proprietary investments and business operations in 2020 in line with the Paris Climate Agreement’s goal to limit global warming to 1.5°C. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Reduce GHG emissions of proprietary investment portfolio to net-zero by 2050. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | In 2020, we will develop our next set of environmental targets up until 2025. | Metrics and Targets c) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Group ESG Board is the highest governing body for sustainability issues, such as climate change, and oversees the Allianz Group Climate Change Strategy. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | It consists of three members of the Allianz SE Board of Management (BoM), meets quarterly, and informs the BoM on relevant topics and activities at least twice a year. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Group Finance and Risk Committee (GFRC), consisting of members of the BoM, oversees risk management and monitoring, including sustainability and climate risks, and serves as an escalation point based on analysis and deliberations within the Group ESG Board. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | All internal asset managers, the complete investment management function (Allianz Investment Management), and key insurance operating entities have well-established dedicated ESG functions and practice. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Specifically for climate change, we have a Climate Contact Group (CCG), consisting of experts from across the Group, exchanging and developing proposals on climate integration into business. | Governance a) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The Group ESG Board is the highest governing body for sustainability issues, such as climate change, and oversees the Allianz Group Climate Change Strategy. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The Group Finance and Risk Committee (GFRC), consisting of members of the BoM, oversees risk management and monitoring, including sustainability and climate risks, and serves as an escalation point based on analysis and deliberations within the Group ESG Board. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The Allianz Group Corporate Responsibility department, and particularly the Group ESG Office, is responsible for steering the integration of ESG and climate aspects into core investment and insurance activities and acts as the Executive Office of the Group ESG Board. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | All internal asset managers, the complete investment management function (Allianz Investment Management), and key insurance operating entities have well-established dedicated ESG functions and practice. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | Specifically for climate change, we have a Climate Contact Group (CCG), consisting of experts from across the Group, exchanging and developing proposals on climate integration into business. | Governance b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | There are no sentences in the provided excerpts that disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions. The provided excerpts focus on other metrics and targets related to social impact investing, assets under management, and carbon footprint calculations. | Metrics and Targets b) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Our material risk category of Credit Risk incorporates the risks associated with lending to customers that could be impacted by climate change or by changes to laws, regulations, or other policies such as carbon pricing and climate change adaptation or mitigation policies. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Climate change risk is included in the Group and Institutional Risk Appetite Statements to ensure the risk is appropriately identified and assessed. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Our Risk team is working with our bankers, encouraging them to talk with customers about managing the risks and opportunities associated with climate change. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | We continue to develop an organisational culture that encourages regular discussion and consideration of emerging climate-related risks. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | It also includes changes to the cost and level of insurance cover available to our customers. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | We have disclosed our most material social and environmental risks in our 2019 Annual Report (see page 46) on anz.com/annualreport in accordance with the ASX Corporate Governance Principles and Recommendations. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Under our risk management framework, our material risk category of Credit Risk incorporates the risks associated with lending to customers that could be impacted by climate change or by changes to laws, regulations, or other policies such as carbon pricing and climate change adaptation or mitigation policies. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We also specifically include climate change as one of our Principal Risks and Uncertainties (available on anz.com/annualreport). | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our Risk team is working with our bankers, encouraging them to talk with customers about managing the risks and opportunities associated with climate change. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We continue to develop an organisational culture that encourages regular discussion and consideration of emerging climate-related risks. | Risk Management b) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Our strategy needs to be resilient under a range of climate-related scenarios. This year we have undertaken climate-related scenario testing of a select group of customers in the thermal coal supply chain. We assessed these customers using two of the International Energy Agency’s scenarios; the ‘New Policies Scenario’ and the ‘450 Scenario’. Our reporting reflects the Financial Stability Board’s (FSB) Task Force on Climate-Related Disclosures (TCFD) recommendations. Using the FSB TCFD’s disclosure framework, we have begun discussions with some of our customers in emissions-intensive industries. The ESG Committee is responsible for reviewing and approving our climate change-related objectives, including goals and targets. The Board Risk Committee has formal responsibility for the overview of ANZ’s management of new and emerging risks, including climate change-related risks. | Strategy c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Using the FSB TCFD’s disclosure framework, we have begun discussions with some of our customers in emissions-intensive industries. Their public disclosures under the framework will enable us to better understand how they are managing their climate-related risks and opportunities. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | The ESG Committee is responsible for reviewing and approving our climate change-related objectives, including goals and targets. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | We have established Group-wide emissions reduction targets that cover the emissions arising from the energy we use across our building portfolio of commercial offices, branches and data centres. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | We assessed these customers using two of the International Energy Agency’s scenarios; the ‘New Policies Scenario’ and the ‘450 Scenario’. This provided us with a better understanding of the preparedness and resilience of these customers to climate change. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Our Climate Change Statement sets out the actions we are taking to support the transition to a low carbon economy. | Metrics and Targets c) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | There are no sentences in the provided excerpts that disclose Scope 1 and Scope 2, and, if appropriate, Scope 3 GHG emissions. | Metrics and Targets b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The Committee considers the implications of climate change for the business and oversees the company’s strategic planning of resources and investments in response to the risks and opportunities that arise, as well as having oversight of policy and stakeholder trends. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | It receives regular reports from senior management on stakeholder expectations, the company’s lowemissions technology strategy, climate-related policy engagement and carbon performance. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The chair of the ARCGS liaises closely with the chair of the Audit & Risk Committee, and provides a summary of its work on climate change to the full Board. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The Group Management Committee regularly considers climate-related risks and group-level strategy. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The ARCGS oversees the implications of sustainable development issues for the company under five sustainability themes, of which one is climate change. | Governance b) |
Does the company describe the climate-related risks or opportunities it has identified? | As climate change progresses, the risk of physical damage and profit loss, such as that from floods and drought, is expected to increase in the future. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Understanding the management risks related to climate change is essential to formulating corporate management strategies and is, at the same time, important information for investors when making long-term investments. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Even for areas where reliable ground-based observation data cannot be acquired, we can still provide weather risk products by utilizing satellite observation data. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Given the understanding that there is a close relationship that exists between climate change and abnormal extreme weather, weather disasters are also expected to become more severe and frequent. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | As such, it is now of utmost importance for companies to analyze the impact that climate change will have on their own business activities. | Strategy a) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Carbon Footprint (tonnes CO2e/DKKm)Carbon Intensity (tonnes CO2e/DKKm)WACI (tonnes CO2e/DKKm) Nordic equities 20.79 39.68 29.07 Scope 1 19.43 37.07 25.94 Scope 2 1.37 2.61 3.13 International equities 20.08 27.35 36.49 Scope 1 16.95 23.09 30.89 Scope 2 3.13 4.26 5.60 Corporate bonds 10.39 14.01 22.39 Scope 1 7.20 9.71 16.44 Scope 2 3.19 4.30 5.95 | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | One of the reasons for the decline in the carbon footprint of international equities when introducing the enterprise value is that the quantitative selection method for international equities includes a value factor, among other things. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | ATP therefore adjusts its calculation method, so it distributes emissions based on a company’s enterprise value rather than its market cap. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | ATP has also chosen to calculate the equity portfolios’ carbon footprint according to last year’s method with the market cap as the allocation key. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | The underlying companies in ATP’s corporate bond portfolio are distinguished by their lower emission levels – when adjusted for differences in the size of the companies’ enterprise value – relative to the companies in ATP’s two equity portfolios. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | It is important to keep in mind that the calculations are based on data material with limited coverage of companies and emissions. | Metrics and Targets b) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Taken together, the “policy risk” model combined with the “technology opportunities” model assess the downside costs of climate change policy as well as the additional green revenues that are attainable by the most innovative companies in their field. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Forward-looking quantitative results are used, in the form of company-specific costs and revenues, to calculate a “Climate Value-at-Risk” (Climate VaR) per security in AXA’s portfolios. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | A Dividend Discount Model (DDM) is also used to compute the impact that new, climate policy costs and revenues will have on future profits, which justify the current market value. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | The Climate VaR is the exact difference between the current market value of a security and the “new” present value after future climate change costs and/or revenues have been included in the DDM. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Since the payout profile of a bond is significantly different from equity, the effect of climate change onto the bond price, based on the change in default risk of the issuer, must be carefully modeled and cannot simply inherit the risk values from the associated equity. | Risk Management a) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | Every year, the Board of Director’s Compensation & Governance Committee examines the Group Corporate Responsibility strategy, with a strong focus on ESG and climate. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | Moreover, the AXA Stakeholder Advisory Panel, which meets twice a year in the presence of the CEO and Chairman of the Board, also assesses and provides feedback on AXA’s CR and RI strategy. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | AXA created a Group-level Responsible Investment Committee (RIC), chaired by the Group Chief Investment Officer, and including representatives from AXA Asset Management entities, representatives of Corporate Responsibility (CR), Risk Management and Group Communication. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The RIC reports to the Group Investment Committee, chaired by the Group Chief Financial Officer. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | AXA’s RI policy is supported by the RI Center of Expertise, a transversal working group from AXA’s local investment teams interacting with the CR network and the Group’s Asset Management entities. | Governance b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our dashboard also shows the fuel mix of our portfolios, not just the overall ‘carbon limit’. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Note 1 Targets are from a baseline of 12 months to 31 December 2020: Power emissions intensity – 321 KgCO2/MWh; Energy absolute emissions – 75.0 MtCO2. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our climate dashboard shows our ‘carbon limit’ by sector, and tracks our financed emissions against that benchmark. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our near-term and medium targets for the Energy and Power sectors are: Energy portfolio absolute emissions will reduce by 15% by 2025, and continue to track our benchmark reduction on an ongoing basis; Power portfolio emissions intensity will reduce by 30% by 2025, on the way to alignment with our benchmark by 2035. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our methodology and the data on which it draws are continuously improving; any changes to metrics as a result of methodology changes or new information that lead to materially different outcomes may result in metrics being restated. | Metrics and Targets b) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Disclose how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | Disclose how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management. | Risk Management b) |
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Dataset Card for "TCFD_disclosure"
Dataset Summary
This dataset was created to aid our team in developing a model to address two climate-related tasks: Fact Checking, and TCFD Classification, both of which are discussed below. These two tasks are believed to be solveable with a BERT Language model, as identified by the ClimateBERT team. However, conclusive benchmarks or model weights for these tasks were never released, leading to our team developing our own approach to these problems.
Data Fields
Our dataset contains 540 records, each of which is composed of several attributes:
question: astringfeature, provides additional detail about the particular TCFD category a particular document is labeled as.text: astringfeature, containes the raw text of the sentence from the document that best characterizes a particular document.label: astringfeature, identifies which of the 11 TCFD categories this document is labeled as.
Source Data
The reports used as the basis of the dataset were drawn from the Task Force on Climate-Related Financial Disclosures (TCFD) list of Example Disclosures. These documents were provided by TCFD to highlight climate-related financial disclosures that align with one or more of the TCFD’s 11 recommended categories. With this in mind, we can think of this list as exemplars for disclosures that display clear alignment and focus throughout the document.
Methodology
This dataset was curated by our team through a custom processing pipeline, to ensure the creation of a dataset in a way that was reproducible, explainable, and correct. A collection of
financial disclosures was highlighted by the TCFD, as discussed above. These reports served as the foundation of our dataset, giving our team a curated selection of data upon which to build our dataset.
These reports were scraped from the TCFD website via Selenium, a tool designed to automate the collection of publicly available data from websites. With it we were able to
save the example disclosures as PDF files for processing. The collected documents already contained a label, provided by the TCFD in regards to its 11 identified categories for disclosures (discussed on page 112 of the following report).
With these labels in mind, we used a custom Python tool called ChitChat to return key sentences from each of the example disclosures. For the purposes of this study we returned five sentences from each report, giving us a total of 540 data points.
Each of the five created sentences shares the original label of the root document they come from. More information about our processing pipeline and further analysis can be found on our project page, or by contacting any of the authors of this project.
Languages
The text contained in the dataset is entirely in English, as found in the real-world financial disclosures identified by the TCFD. The associated BCP-47 code is en, to ensure clear labeling of language usage for downstream tasks and other future applications.
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