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Does the company describe the targets it uses to manage climate-related risks or opportunities? | Our science-based climate torget involves reducing our absolute scope l and 2 greenhouse gas emissions by 80% between 2015 and 2025. It also commits to reducing the absolute scope 3 emissions from the use of our sold products by 25% during the same time frame, covering three-quarters of all products sold by Electrolux. We developed our own methodology with a 50% relative reduction climate torget by 2020 based on our 2005 emissions. Our 50% climate torget - halve the Group's climate impact, preventing the release of 25 million metric tons of carbon dioxide and its equivalents (CO2e) over 15 years - between 2005 and 2020. We are reducing CO2 emissions from our own manufacturing facilities, product transport, and the energy consumed during their use. But as product energy use is responsible for over 80% of our climate impact, product efficiency is where we can make our greatest contribution to tackling climate change. By the end of 2018, we had cut our CO2 emissions by 31% compared to 2005 - toward our 50% target by 2020. | Metrics and Targets c) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The aim is to develop a balanced business portfolio that has diverse potential for growth, a high proportion of stable, regulated business and an attractive risk-return profile. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The EnBW 2020 strategy is guided by the principle “Energiewende. Safe. Hands on.” It describes our positioning and how we differentiate ourselves from our competitors. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Sustainability is an integral component of our Group strategy so that we can guarantee the creation of economic, ecological and social value added for our stakeholders. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The central goal of the EnBW 2025 strategy is to increase adjusted EBITDA to €3.2 billion, whereby all three strategic business fields should make a significant contribution to this increase in earnings. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The energy sector is undergoing a period of profound change. This process of change is dependent on numerous factors and often does not progress linearly, thus making it difficult to predict. | Strategy b) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | We have not identified any material individual risks in the 2019 financial year that have a very high probability of a serious negative impact in relation to the relevant non-financial issues. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | The non-financial declaration is issued jointly for the EnBW Group and EnBW AG. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | EnBW started to implement the recommendations from the TCFD in 2017. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Information on the business model can be found in the section “Business model”. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Task Force on Climate-related Financial Disclosures (TCFD) element Themes Section Page reference Governance. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | We have not identified any material individual risks in the 2019 financial year that have a very high probability of a serious negative impact in relation to the relevant non-financial issues. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | The non-financial declaration is issued jointly for the EnBW Group and EnBW AG. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | EnBW started to implement the recommendations from the TCFD in 2017. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Information on the business model can be found in the section “Business model”. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft is commissioned to audit the consolidated financial statements and the combined management report including the contents of the non-financial declaration with reasonable assurance. | Risk Management b) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | We cannot provide an answer as none of the excerpts labeled as Risk Management in the provided sources contain sentences that directly describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management. | Risk Management c) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The comparative figure for 2019 has been adjusted to take account of the fact that in South America and Mexico the values relating to large customers managed by the generation companies have been reallocated to the End-user Markets Business Line. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Fighting climate change and ensuring environmental sustainability. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Main climate change indicators. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Specific direct greenhouse gas emissions - Scope 1 (gCO2eq/kWh). | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Ordinary EBITDA for low-carbon products, services and technologies. | Strategy b) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | The Group constantly monitors developments in the competitive environment and the market in order to tailor its strategic development to this evolution. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Enel has adopted an internal control and risk management system (ICRMS) aimed at identifying, measuring, monitoring and managing the main risks applicable to the Group, including those connected with climate change. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | In order to identify the main types of risk and opportunity and their impact on the business associated with them in a structured manner consistent with the TCFD, we have adopted a framework that explicitly represents the main relationships between scenario variables and types of risk and opportunity. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Extreme events expose the Group to the risk of prolonged unavailability of assets and infrastructure, the cost of restoring service, customer disruptions and so on. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | The energy transition towards a more sustainable model characterized by a gradual reduction of CO2 emissions has risks and opportunities connected both with changes in the regulatory and legal context and trends in technology development, electrification and the consequent market developments. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | The Group constantly monitors developments in the competitive environment and the market in order to tailor its strategic development to this evolution. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Enel has adopted an internal control and risk management system (ICRMS). This system is the set of rules, procedures, and organizational structures aimed at identifying, measuring, monitoring and managing the main risks applicable to the Group. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | The Board of Directors performs a policy-setting role and is committed to developing guidelines to ensure that decisions at all levels of the Group are made in an informed manner consistent with the associated risks (including those connected with climate change). | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | In order to identify the main types of risk and opportunity and their impact on the business associated with them in a structured manner consistent with the TCFD, we have adopted a framework that explicitly represents the main relationships between scenario variables and types of risk and opportunity, specifying the strategic and operational approaches to managing them, comprising mitigation and adaptation measures. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Global risks associated with pandemics or other crises that may impact the continuity of the supply of materials or commodities, migratory flows or economic activity are also considered given that the impacts depend so closely on economic, social and even energy conditions in individual countries. | Risk Management b) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Due to the nature of its business, the Group is exposed to a variety of risks, notably financial risks, industrial and environmental risks, strategic risk connected with the evolution of markets and risks connected with sustainability and climate change. In order to effectively deal with such risks, Enel has adopted an internal control and risk management system (ICRMS). This system is the set of rules, procedures, and organizational structures aimed at identifying, measuring, monitoring and managing the main risks applicable to the Group. The Board of Directors performs a policy-setting role and is committed to developing guidelines to ensure that decisions at all levels of the Group are made in an informed manner consistent with the associated risks (including those connected with climate change). To this end, the Board draws on the expertise of the Control and Risk Committee, which issues prior opinions on a variety of matters, including the guidelines of the ICRMS. In order to identify the main types of risk and opportunity and their impact on the business associated with them in a structured manner consistent with the TCFD, we have adopted a framework that explicitly represents the main relationships between scenario variables and types of risk and opportunity, specifying the strategic and operational approaches to managing them, comprising mitigation and adaptation measures. The identification and management of risks connected with climate change. Extreme events expose the Group to the risk of prolonged unavailability of assets and infrastructure, the cost of restoring service, customer disruptions and so on. Chronic changes in climate conditions expose the Group to other risks or opportunities. The energy transition towards a more sustainable model characterized by a gradual reduction of CO2 emissions has risks and opportunities connected both with changes in the regulatory and legal context and trends in technology development, electrification and the consequent market developments. | Risk Management c) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The basic assumption for illustrating interdependencies is that a change in one key performance indicator can also lead, in many cases, to changes in one or more other key performance indicators. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Non-financial aspects such as environmental and climate protection goals will be taken into account to a greater extent for investment projects. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | EnBW aims to continuously improve its reputation. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Maintaining the quality of supply to its customers is of central importance to EnBW in the further development of the grids of its grid subsidiaries. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | EnBW is focusing on three main areas in its digital transformation: products and processes, technologies, and people and organizations. | Strategy b) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Eni has built a resilient Oil & Gas portfolio. With the adoption of a model of operational excellence based on successful exploration at competitive costs, reduction of time-to-market of reserves, a phase-based approach to project development and continuous control of operating expenditure, Eni has built a resilient Oil & Gas portfolio. The stress test, performed under the IEA SDS scenario, showed that the overall book values of the assets were stable with a reduction in fair value of around 11%, or around 5% in the event of contractual and fiscal recoverability of the costs of direct CO2 emissions. Analyses carried out on the 3P10 reserves of the current upstream portfolio confirmed their resilience and flexibility. Eni’s decarbonisation path includes, in the short term, a progressive growth of hydrocarbon production until a plateau is reached in 2025, followed by a downward trend mainly in the oil component. | Strategy c) |
Does the company describe the climate-related risks or opportunities it has identified? | The risk of Climate Change is identified as one of Eni’s top strategic risks and is analysed, assessed and monitored by the CEO as part of the IRM process. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Eni has defined a path to decarbonization and pursues a clear and well-defined climate strategy, integrated with its business model. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | The adoption of policies designed to support energy transition to low carbon sources could have significant impacts on the business. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Technologies to capture and reduce GHG emissions as well as leaks of natural gas along the oil&gas value chain will be fundamental for affirming the dominant role of natural gas in the global energy mix. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | The intensification of extreme/chronic weather and climate phenomena could result in an increase in costs for adaptation measures to protect assets and people. | Strategy a) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | The IRM Model is aimed at ensuring that management takes risk-informed decisions, with adequate consideration of actual and prospective risks, including medium and long-term ones, within the framework of an organic and comprehensive vision. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | The risks are assessed with quantitative and qualitative tools considering both the likelihood of occurrence and the impacts that would occur in a defined time horizon when the risk occurs. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | The IRM process ensures the detection, consolidation and analysis of all Eni’s risks and supports the BoD to verify the compatibility of the risk profile with the strategic targets, also in a medium-long term approach. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | The IRM process starts from the contribution to the definition of medium and long-term plans and Eni's Strategic Plan (risk strategy) through the identification of proposals for de-risking objectives and strategic treatment actions, as well as the analysis of the risk profile and business opportunities underlying the plan and the long-term development. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | The IRM Model is characterized by a structured approach, based on international best practices and considering the guidelines of the Internal Control and Risk Management System, that is structured on three control levels. | Risk Management c) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | Since 2016 we have been testing the resilience of our portfolio against the scenarios from the IEAs World Energy Outlook (WEO) report. | 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 use of the IEA scenarios enables standardisation of the stress testing and allows for comparison between companies. | 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 SDS has moved from being consistent with a 1.7-1.8°C to 1.65°C, represented by lower energy prices compared to 2019. | 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? | To cater for this uncertainty, we test our portfolio with SDS as a basis and an oil price which gradually decreases to USD 50 in 2040 (compared to USD 53 in SDS). | 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 sensitivities are illustrated in the chart below. | 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? | Changes in management’s view on long -term oil and/or natural gas prices or further material reductions in oil, gas and/or product prices could have an adverse impact on the economic viability of projects that are planned or in development. | 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? | It is impossible to predict future price movements for oil and/or natural gas with certainty. | 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? | A prolonged period of low oil and natural gas prices will adversely affect Statoil's business, the results of operations, financial condition, liquidity and Statoil's ability to finance planned capital expenditure, including possible reductions in capital expenditures which could lead to reduced reserve replacement. | 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? | Such reviews would reflect the management's view of long-term oil and natural gas prices and could result in a charge for impairment that could have a significant effect on the results of Statoil's operations in the period in which it occurs. | 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? | This will affect both PSAs and fields with concession types of agreement. | Strategy c) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Scope 3 emissions data are flawed on account of the lack of a comprehensive measurement and reporting standard, as well as the fact that relatively few companies publish data for these emissions. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | ERAFP uses a double result grid for the scopes of emissions taken into account in the carbon intensity calculation. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Since 2015, ERAFP has used the method that measures the investor’s carbon risk on the basis of carbon intensity. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | ERAFP’s approach consists in considering that a portfolio’s exposure to climate risk is reflected by the average carbon intensity of its constituent companies or countries, weighted by their respective weights in the portfolio. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | ERAFP has carried out a historical analysis of this indicator to find out whether the trend in the portfolios is towards rising or falling GHG emissions. | Metrics and Targets a) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | There are no sentences in the provided excerpts that describe the targets the company uses to manage climate-related risks or opportunities. | Metrics and Targets c) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | This is seen as the first line of defence and involves a technical asset-by-asset review of the portfolio to assess asset-specific climate change risks and options to build resilience. These reviews go beyond basic carbon foot-printing to assessing exposures to plausible climatic events, supply chains, policy or technological change and public activism. The reviews are conducted by First State Super in collaboration with its asset managers and advisors over a two-year cycle. A key part of First State Super’s ESG Policy is proactive engagement with senior executives and boards of the companies we hold, even where our percentage of share-holdings is small, e.g. listed shares. Moreover, when many pension funds divest en masse, this can increase the cost of capital for new projects, and may have real signalling effects that change corporate attitudes. First State Super has prepared this paper to share with other investors how we are thinking about climate change and how we are responding to the very significant and multi-dimensional risks climate change presents. We firmly believe that large institutional investors not only have a fiduciary responsibility to manage these risks, but through shared insights and action, can actually support more sustainable returns to portfolios over time. | Risk Management a) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Due to the concern over the possible expansion of areas stricken by water shortage issues, the Group created a matrix system for water risk evaluation in 2014 that uses conditions in “water stress regions” and “impact on businesses based on water usage” as its two indicators, and has engaged in continual evaluation of water risks for all business operations under the Group. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Long-term target: Reduce the amount of water the Fujifilm Group uses for production by 30% by FY2030 (compared to the FY2013 level) | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Mid-term target: Reduce the amount of water the Fujifilm Group uses for production by 15% by FY2020 (compared to the FY2013 level) | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Short-term Target: Reduce the amount of water the Fujifilm Group uses for production by 1% by FY2019 (compared to the FY2018 level) | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | We are conducting efforts to use resources effectively and reduce waste through measures which take into account the total lifecycle of a product, by considering the 3Rs (reduce, reuse, recycle) in the product design, reducing loss at the manufacturing stage, collecting, reusing and recycling used products, and recycling or converting into valuables. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | In the production of the motion picture and photographic film that had formed the mainstay of its business operations since its foundation, the Fujifilm Group had made extravagant use of clean water. | Metrics and Targets c) |
Does the company describe the climate-related risks or opportunities it has identified? | An example of how this process has influenced business strategy is the development of an ongoing dedicated fund for energy savings projects of $20 million USD and use of energy performance contracting to fund energy- and carbon-reduction methods. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | GM must have a long-term approach to regulatory risks. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | The Chief Risk Officer of GM is Mary Barra, also Chairman and CEO. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | With regard to climate change, risks and opportunities vary from government regulations to supply chain disruption. | Strategy a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Every five years we review our vulnerability to climate change and develop Group-wide strategies and programmes in response to these. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Gold Fields’ objectives are to minimise the Company’s contribution to climate change and to build resilience to impacts of climate-related risks on our operations and host communities. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Gold Fields’ disclosures cover all three carbon emission scopes, Scope 1 – 3, both in absolute figures and intensities. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | In 2018, Gold Fields became the second Johannesburg Stock Exchange Limited (JSE)-listed company in South Africa (and the first mining company) to publicly back the United Nations (UN)-endorsed recommendations of the TCFD. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Our commitment to low-carbon and renewable energy is a significant contributor to our efforts in reducing carbon emissions. | Risk Management a) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | N/A - The provided excerpts do not contain any information related to processes for identifying, assessing, and managing climate-related risks. | Risk Management c) |
Does the company describe the climate-related risks or opportunities it has identified? | 1. Poor agriculture productivity and food provision ● High | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 2. Decrease in water availability for electricity generation● Low | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 3. Disruption of electricity supply from hydro schemes● Medium | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 4. Intense rains exceed pumping and treatment capacity, potentially compromising slope stability near opencast mines● Low | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 5. Weather-related delays in the transport of fuel ● Medium | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | The risks have not been included in the section Internal Control and Risk Management System (pp. 61-65). | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Growing concern on the part of stakeholders and institutions over climate change could lead to reforms, in the future, to current legislative provisions governing emissions. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Climate change is a major issue for all industries, and no less so for publishing. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Constant oversight of the issue through the continuous monitoring of overall greenhouse gas emissions produced by the various operations of the Group. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Loss of opportunities for economic benefits due to a reduced effectiveness of energy efficiency measures. | Strategy a) |
Does the company describe its processes for managing climate-related risks? | The risks have not been included in the section Internal Control and Risk Management System (pp. 61-65). | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Climate change is a major issue for all industries, and no less so for publishing. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Constant oversight of the issue through the continuous monitoring of overall greenhouse gas emissions produced by the various operations of the Group and the identification of useful actions to reduce them. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Constant oversight of the issue through the continuous monitoring of overall energy consumption, strong focus on the upgrading of IT equipment and the identification of energy efficiency measures in workplaces. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Progressive extension across the Group of the use of FSC and PEFC certified paper. | Risk Management b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | We factor climate-related risks and strategies into our investment strategies or products. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | We have a formal comprehensive and integrated approach to manage our exposure to carbon risks and access opportunities from the transition to a low-carbon economy. | Strategy b) |