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Assessment of internal and external factors 4.3.2 As in the usual strategic assessment process, consideration could be given to relevant internal and external factors in evaluating the AI's strategic position and formulating the climate strategy. | 1neutral
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In addition, we have continued to progress our environmental management with the adoption of the International Air Transport Association (IATA) Environmental Assessment (IEnvA) management system. IEnvA is the airline industry version of | 1neutral
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Targets on climate-related risks and opportunities 5.4.1 Financing of low-carbon activities In 2017, Societe Generale pledged to help raise $100 billion in financing for the energy transition between 2016 and 2020 and to report regularly on achievements. | 2opportunity
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Investec is promoting sustainability as part of its core strategy and believes there needs to be a balance between economic and financial imperatives, the needs of society and their combined impact on the environment. Our commitment to sustainability recognises the interconnected nature of our business, the economy, the environment and society. Within our operations we support efforts to limit global warming to less than 2 C above pre-industrial levels; and to transition to a low carbon economy. We have achieved net-zero carbon emissions in our global operations and committed to ongoing carbon neutrality for our operational footprint. | 1neutral
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Oil and gas mining projects in the Arctic The Arctic Circle (an area north of the 66 33' latitude) is home to rare ecosystems and indigenous people with a unique culture. For mining projects in this region, environmental and social risk assessments are conducted, and close attention is paid not only to environmental considerations but also to measures to protect biodiversity and indigenous communities, when considering lending. | 0risk
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As our core operations and services are dependent on the weather and climate, we do not have specific climate risk metrics. Our climate metrics are inherent in what we monitor as standard practice, for example our performance commitments on interruptions to supply, leakage, pollution, flooding and customer satisfaction. | 1neutral
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METRICS & TARGETS Mobilization metric Banks play a crucial role in combating climate change and achieving the Sustainable Development Goals through their unique position to mobilize capital through investments, loans, issuances and advisory functions. The concept of mobilization is a more inclusive approach than pure financing, by including sustainable value propositions beyond bank financing activity. | 1neutral
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1. Investment return impact is less under 2 C - The portfolio investment returns are less impacted under a 2 C scenario for all time horizons, which we believe indicates that long- term investment returns will be best served by aligning the asset allocation with a 2 C scenario. While a scenario limiting warming to 1.5 C was unable to be performed due to a lack of availability of data and modelling, the results also support alignment to a to 1.5 C or significantly below 2 C scenario. | 1neutral
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Our climate change strategy Our Climate Change Strategy and Risk Assessment is available at: yorkshirewater.com/climatechange In our strategy we describe how we take a twin track approach of long term planning and gradual investment, combined with tactical operational responses and emergency planning. | 1neutral
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This project was achieved through collaboration between Corporate Services, Commodities and GSF. Global Capital Markets also joined the partnership for one of the wind farms to provide construction loan financing to the developer. The Commodities Team will manage the wind farms' energy pricing in the market while providing the firm long-term fixed pricing for RECs. | 2opportunity
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To address the residual risk, we have recently started to develop a carbon risk steering mechanism. Its key component will be a carbon risk model designed to measure our carbon intensity and the associated risks embedded in our re/insurance business. | 0risk
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The probability of flooding up to 2050 is set for both the 2oC scenario and 4oC scenario by utilizing data provided by a project assessing the risk of flooding due to climate change conducted by MS&AD InterRisk Research & Consulting in collaboration with the University of Tokyo and Shibaura Institute of Technology 4 . | 0risk
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Of these, the most important part is due to end use of energy products, for which international reference protocols do not indicate an unequivocal estimation methodology that allows a concise and comparable representation of Greenhouse gas emissions. | 1neutral
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4.3.6 The business plan of AIs normally covers a time horizon of one to three years, which is considered relatively short in the context of climate change. For example, the physical impacts of climate change (e.g. the rises in temperature and sea level) are more relevant over a longer horizon of more than five years. It thus follows that, in formulating climate strategy, a longer time horizon should be adopted to cater to the unique nature of climate risks. | 0risk
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We explain this by UBS's relatively small lending book in climate-sensitive-sectors (see 'UBS corporate lending to climate- sensitive sectors 2019' further below) and availability of insurance where we have relevant exposures to such sectors (e.g., Swiss mortgage lending book). | 1neutral
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To guide engagements, questionnaires were developed in line with the guidance of the Transition Pathway Initiative, a global, asset-owner led initiative, which assesses companies' preparedness in addressing physical and transitional risks in the shift toward a low carbon economy. AIA is cognizant of, and devising ways to address and mitigate, risk of stranded assets in a low carbon economy. | 0risk
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We recognise the importance of disclosing to investors how we are ensuring that our material capital expenditure and investments align with the Paris Goals. This includes each material investment in the exploration, acquisition or development of fossil fuel (including thermal and coking coal) production, resources and reserves, as well as in resources, reserves and technologies associated with the transition to a low carbon economy. | 1neutral
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Specific targets are set for DBJ and for each department in regard to the environmental aspects of investment and loan operations and environmental protection initia- tives such as educational programs that encourage dialogue on relevant issues. | 1neutral
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The main transition risks Saint-Gobain manages the risks associated with the increasing scarcity of certain raw materials by developing the circular economy (see Chapter 3, Section 4.2). In this way, certain virgin raw materials such as sand and gypsum can be replaced by recycled materials. The Group is engaged in the development of channels to accelerate the collection of waste, particularly construction site waste. | 1neutral
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DBJ gauges the progress of its environmental initiatives in terms of the Greenhouse Gas Protocol's Scope 1 (direct) and Scope 2 (indirect) categories, which are concerned with the amount of greenhouse gas (GHG) emissions associated with corporate activities. Specific targets are set for DBJ and for each department in regard to the environmental aspects of investment and loan operations and environmental protection initia- tives such as educational programs that encourage dialogue on relevant issues. In these ways, DBJ works systematically and consistently to help preserve the environment. | 1neutral
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We explain this by UBS's relatively small lending book in climate-sensitive-sectors (see 'UBS corporate lending to climatesensitive sectors 2019' further below) and availability of insurance where we have relevant exposures to such sectors (e.g., Swiss mortgage lending book). | 1neutral
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deutscheboerse-2019-tcfd-governance Since the financial crisis of 2007/2008 the importance of Environmental, Social, and Governance (Environmental, Social, Governance) information as part of the comprehensive assessment of the medium to long-term forecast of a company's success has been steadily increasing. | 1neutral
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Such a calculation has no predictive value (it is very difficult to predict whether a carbon tax will be applied everywhere in the world, and at what level; and the Group's emissions de- crease regularly) but it can be used to get a rough idea of the order of magnitude of such a measure. | 1neutral
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Sustainability training at BBVA is an ongoing effort. Consequently, in 2021, BBVA will focus on strengthening the existing training options and developing new content with a focus on the expert level. | 1neutral
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Leadership sets the tone and provides clear direction and governance for effective risk management. The GEC remains responsible for the implementation of our climate change response. The GEC is supported by the PSSR to provide strategic climate change oversight and steer. The SSEC at Board level provides ultimate steer and oversight of climate change-related risks and opportunities. | 1neutral
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This is already significantly lower than the 0.25 per cent methane intensity target of the Oil and Gas Climate Initiative, which comprises 12 global oil and gas companies.17 Origin has a robust risk-based inspection and infrastructure integrity program that is designed to manage venting and minimise leaks. | 1neutral
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ANZ has defined three key elements that constitute a robust low-carbon transition plan for our customers regarding their level of governance, targets / long term plans and disclosures that are preferably TCFD-aligned3. | 1neutral
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Employee training While it is always necessary to have employees specialised in climate-related issues in charge of coordinating efforts, it is also important for all em- ployees to incorporate climate-related risks and op- portunities in the work they do each and every day. | 1neutral
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In terms of thermal coal, the Group has set an exit deadline, in line with the SDS (Sustainable Develop- ment Scenario) scenario of the International Ener- gy Agency (IEA), compatible with the climate goals of the Paris Agreement: In 2019 and in 2020, the Group strengthened its position on coal, announ- cing its plan to reduce its thermal coal exposure to zero by 2030 in OECD countries, and by 2040 in the rest of the world. | 1neutral
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Global warming was ranked in the Top 3 concerns of survey participants in each of these countries, sen- ding a strong signal of what civil society expects from the Group in terms of its contribution to the energy transition and decarboni- sation of the economy. | 1neutral
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Societe Generale's strategy is set to be reviewed in 2020. By then, the Group is considering taking more ambitious engagements, which are likely to be informed by 2 C scenario. announce-the-acquisition-of-Lumo-the-pioneering-renewable-energy-crowdfunding-platform 15 Only the corporate credit portfolio has been evaluated. The Sovereign, Retail, Institutional and other portfolios have not. https://www.societegenerale.com/en/content/Societe-Generale-is-pleased-to-announce-the-acquisition-of-Lumo-the-pioneering-renewable-energy-crowdfunding-platform https://www.societegenerale.com/en/content/Societe-Generale-is-pleased-to-announce-the-acquisition-of-Lumo-the-pioneering-renewable-energy-crowdfunding-platform | 1neutral
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Since the Fund is a small organisation, where several senior executives are directly involved in climate work, the executive management is judged to have a good knowledge of the work that is taking place. Thus, the Fund has god opportunities to assess and manage cli- mate-related risks and opportunities. | 1neutral
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Opportunities. The adherence to these voluntary commitments provides us with references to integrate environmental, social and corporate governance issues into investment practices for the purpose of mitigating risks and identifying opportunities for our clients. | 1neutral
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As part of this process of transforming society as a whole Deutsche Borse Group is engaged in a continuous exchange with internal and external stakeholders on sustainability, climate action and sustainable finance. It sees this not only as part of its strategic approach but also as managing climate-related opportunities and risks. | 1neutral
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Scenario analysis is an emerging industry practice. TD is dedicated to undertaking the process thoughtfully to gain valuable insight into our overall business strategy. As such, we have embarked on a multi-year journey to conduct climate scenario analysis, using new methods, data and tools. In this report, we outline our approach and progress in laying the foundation for our analysis. As our scenario analysis practice matures, so too will our analytical inputs and results. | 1neutral
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4. We strictly comply with environment-related laws and regulations. 5. We practice the highest level of information disclosure related to the Group's environmental activities and consistently improve our efforts to contribute to environmental preservation by communicating with our staff as well as the third parties. | 1neutral
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ANZ acknowledges stakeholder interest in banks' exposure to the transition risks faced by some customers in the energy sector, including the potential risk of 'stranded assets' in the transition to a net zero economy. | 0risk
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We have reduced carbonrelated assets on our balance sheet to 0.8% or USD 1.9 billion as of 31 December 2019, down from 1.6% at the end of 2018 and 2.8% at the end of 2017. | 1neutral
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Not surprisingly, the analysis (summarised in the table below) uncovered disparities between the nine sectors reviewed. The semi-conductor, tech and di- gital equipment, and pharmaceutical sectors had the highest exposure: the first two due to the depen- dence of their value chains on components made in countries (predominantly in Asia) with high exposure to physical risks. In the third sector (pharma), ope- rational chains are dependent on satisfactory water and energy availability, which may be locally jeopar- dised by climate change (sometimes significantly). Differences can also be observed between different regions of the world, with greater vulnerability seen in Southeast Asia than in North America. Lastly, the degree of exposure to physical risks varies depen- ding on the type of operational risk reviewed. Accor- ding to the analysis, the sample is more exposed to water and heat stress and to floods. | 0risk
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Compared to other forms of power generation, coal-fired power generation produces more greenhouse gases, in addition to producing harmful substances such as sulfur oxide and nitrogen oxide. Therefore, it presents a higher risk of contributing to climate change, air pollution, and other environmental impacts. | 0risk
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In addition, our NGESO published an update to their operability strategy showing the milestones to deliver zero carbon operation of the Great Britain Transmission network by 2025. See page 39. | 1neutral
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As a first step towards performing a proper scenario analysis, UniCredit is partnering with the global think tank 2 Investment Initiative (2 ii) in road-testing their Paris Agreement Capital Transition Assessment (PACTA) methodology in a pool of 17 international banks. Originally developed to assess the exposure of both equity and bond portfolios to transition technologies across key sectors, a research programme to expand the model to the banks' corporate lending portfolios has been launched by 2 ii . | 1neutral
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BBVA seeks to publish environmental information on its strategy and impact management measures, so that external agents which interact with the Bank (analysts, investors, rating agencies, etc.) are able to internalize BBVA's current approach to these matters and the path it will take in the coming years. | 1neutral
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Regulatory developments on biofuels, including the new directive on renewable energies (RED II which will come into force as from 2021), will define the feedstocks that can be used for production, progressively privileging those that are not in competition with the food supply chain and those able to guarantee levels of Greenhouse gas savings still higher than the reference fossil fuel. | 1neutral
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4.2.9 It is acknowledged that most AIs are at the stage of formulating their approaches to measuring exposures to climate risks. As such, the consideration of climate risks in the RAS may be qualitative in the initial stage. The RAS should however be regularly reviewed and enhanced, in the light of the evolving impacts arising from, and the data availability and capability in assessing, climate change. | 1neutral
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We are planning to further define targets and limits so as to ensure that ABN AMRO's vulnerability to climate risks in both the short and longer term remains in line with a moderate risk profile. | 0risk
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Reducing Carbon dioxide Emissions in Production Activities In 2019, Toyota's plant manufacturing departments worked with production engineering and drive force departments to conduct energy diagnoses at production sites, propose improvements and implement measures. | 1neutral
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Projects for 2019 include: - Smart intelligent Uninterruptible Power Supply controls upgrade helps to reduce UPS power consumption and building electricity usage. - Continued improvement in data center energy efficiency by reducing unnecessary energy consumption associated with unused server equipment - Lighting upgrades at various facilities to new energy efficient LED bulbs and fixtures | 2opportunity
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Replacing the clinker in our final cement products with alternative mineral components such as pozzolan, slag or fly ash reduces the carbon intensity of the cement. A significant portion of these constituents come from waste or byproducts recovered from other industries. Currently, our products use an average of 28 percent of constituents to replace clinker, resulting in one of the lowest levels of clinker content in the sector. | 2opportunity
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As such, BlackRock's exposure to climate-related risk is primarily indirect, with the potential to affect future revenues and expenses. Exhibits 6 and 7 provide a list of key climate-related opportunities and risks that BlackRock has identified.36 | 1neutral
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Joint article in Nature Climate Change on the climate change challenges for central banks and financial regulators, published in May 2018. This article presents the key controversies in central banks' and regulators' response to climate change, and potential areas for future research and policy; | 0risk
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La Poste SA's trajectory was SBTi-certified in 2019. It aims to achieve an overall objective of a 30% reduction in Scope 1, 2 and 3 emissions by 2025(1) compatible with the 2 C scenario of the Paris Agreement. This can be broken down into two sub-objectives: | 1neutral
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In terms of thermal coal, the Group has set an exit deadline, in line with the SDS (Sustainable Develop- ment Scenario) scenario of the International Ener- gy Agency (IEA), compatible with the climate goals of the Paris Agreement: In 2019 and in 2020, the Group strengthened its position on coal, announ- cing its plan to reduce its thermal coal exposure to zero by 2030 in OECD countries, and by 2040 in the rest of the world. The Group had already elected in 2017 not to finance any projects in the thermal coal sector. To work towards its gradual exit goal, BNP Paribas plans to step up its dialogue with cor- porate clients using coal to generate part of their electricity, in order to determine to what extent their projections are aligned with the Group's exit goals by geographic area. BNP Paribas will no longer ac- cept any new customers with a coal related revenue share of more than 25% and will end up terminating its relations with any companies developing new coal-based electricity generation capacities. | 1neutral
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Additional Australian context was also provided for these scenarios, using the Commonwealth Scientific and Industrial Research Organisation's (CSIRO) Australian National Outlook (ANO) scenarios, and the Australian Energy Market Operator's (AEMO) 2019 forecasting and planning scenarios. Three scenarios were developed based on these sources to help provide meaningful insights for Telstra and our stakeholders. | 1neutral
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When publishing its supervisory expectations, the PRA acknowledged that firms still face barriers to implementing the forward-looking, strategic approach necessary to minimise the risks. To reduce these barriers, in March 2019, the PRA together with the Financial Conduct Authority (FCA) set up the Climate | 0risk
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At the global level, in 2018 an agreement was reached within the IMO (International Maritime Organization) on the adoption of an initial strategy to reduce greenhouse gas emissions from the shipping sector. | 1neutral
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In North America, the resource sector is a very important contributor to the economy but also a source of carbon emissions. We expect the resource sector will be an important contributor to addressing environmental challenges including climate change globally. Addressing these challenges will require a balanced approach, one where CIBC will continue to support traditional energy sources and associated infrastructure but also efforts by the resource and other sectors to reduce emissions through innovative technologies and other transitionary activities. | 1neutral
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Investment Management Investment Management operates in the strong belief that Environmental, Social, and Governance factors- including climate change-influence risk, return and opportunity. Investment Management teams strive to incorporate Environmental, Social, and Governance in their investment process, including consideration of climate-related risks and opportunities that could have significant impact on value. Portfolio managers and investment teams evaluate, as applicable, the carbon footprint and intensity of their investments as well as climate resiliency and adaptation strategies. | 1neutral
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We are developing an operational carbon accounting data infrastructure: a prototype that calculates carbon intensities and footprints across a variety of metrics (see metrics section for more details). The calculations are based on emissions data of scope 1 and 2, and selected scope 3 data. | 1neutral
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Mitigating the impact of our operations 'Mitigation is a key component of a process, it is essential to achieve a healthy environmental plan' (USAID) Investing in internal projects We share the vision that there is no management without measurement. | 1neutral
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E M P L O Y E E E N G A G E M E N T AT PSEG, WE RECOGNIZE that our full workforce must rise to the challenge climate change presents. | 0risk
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(CBI), the Association for Financial Markets in Europe (AFME) and the Institute of International Finance (IIF). On a senior level, we chair the UK Government's Global Resource Initiative and are members of the UK Finance Sustainable Finance Committee and the CBI Energy and Climate Change Board. | 1neutral
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In the outlook we produced using the projections in the IEA's SDS, while overall power generation in Japan will remain more or less constant through 2050, thermal power generation will fall by approximately 90%, and restarted nuclear power generation and renewable energy will make up the gap. | 1neutral
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Furthermore, within the Business Lines there are specific functions and units responsible for achiev- ing what is stated in the strategy. For example, in the R&M Business, there is the Bio development, Sustainable mobility & Circular Economy (BSCE) unit, in the Chemicals business (Versalis) there is the Circular Economy, Sustainability & Product Stewardship unit which guarantees the processing of the Versalis positioning on circular economy ensuring the monitoring of the initiatives, while in Eni- Rewind there is the Circular economy & business services unit. | 1neutral
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The analysis can be used to identify companies that need to be placed on the watchlist, in which case their climate strategies are carefully observed during the next several non-financial performance assessment campaigns. | 0risk
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At present, about half of Eni's direct Greenhouse gas emissions are subject to the European Emission Trading Scheme (ETS) regulations which provide for charges for purchase of emissions certificates on the open market, after exceeding the free assignment limit of shares established according to the regulations. | 1neutral
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Its purpose is to identify strategic Environmental, Social, and Governance opportunities, Environmental, Social, and Governance Products Business Ethics Risk Compliance & Crisis Management Information Security Our Material Environmental, Social, and Governance Factors Environmental Management Board Diversity Board Governance Diversity & Inclusion Talent Attraction & Retention Training & Development coordinate market and product development across the Company and solidify S&P Global's position as a trusted provider of Environmental, Social, and Governance data. | 1neutral
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Wealth Management Wealth Management's long-standing Investing with Impact platform (IIP) offers retail investors more than 130 products and strategies across thematic issues, including climate change. A 2018 internal survey of third-party managers on the platform found that over half of IIP strategies aligned with at least one SDG, with climate action among the three most common themes. We also equip our Financial Advisors with Climate Change and Fossil Fuel Aware investing toolkits to help clients develop a tailored investment approach that incorporates these issues into their portfolios. | 2opportunity
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As of November 2020, 100% of active portfolios and advisory strategies have met this goal, and as of December 2020 all Environmental, Social, and Governance integration statements for actively managed publicly offered funds are published directly on the relevant product pages. These statements are relevant for all active products, not just for sustainable investment products. | 1neutral
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SEPTEMBER 2020 BBVA launched a basic course on sustainability addressed to the more than 125,000 employees of the Group around the world. This course focuses on environmental risks and includes specific content on the fight against climate change, on BBVA's direct and indirect impacts. | 1neutral
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Awareness campaigns: As in previous years, BBVA joined the 'Earth Hour' initiative, during which 114 buildings and 183 Bank branches in 113 cities in Spain, Portugal, Mexico, Colombia, Argentina, Turkey, Peru, Uruguay and the United States turned off their lights to support the fight against climate change. In addition, a large number of employee awareness-raising activities were carried out in several countries during World Environment Day. | 2opportunity
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In order to help FRM understand which risks may have substantive or strategic impact, Morgan Stanley is also conducting focused stress tests on concentrated physical and transition risk vulnerabilities as well as a broader scenario analysis. The findings will help our leadership refine our strategy and risk management processes and determine how to incorporate climate considerations into firm strategy more holistically. In particular, we are evaluating where the firm may be vulnerable to outsized, climate-driven losses. | 0risk
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Principle 4 - Implementation Organisational structures, business policies, processes and resources availability should be reviewed and enhanced to ensure effective integration of climate strategy into the operation and corporate development of an AI. | 1neutral
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The cooperation with CICERO has also helped provide us with an overview of climate-related risks and opportunities in some of the industries we lend to. This is combined with our own analyses. The analysis is at the double-digit NACE code level. b) Describe manage- ment's role in assessing and managing climate- related risks and oppor- tunities: | 1neutral
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Our analysis tells us that, among other things, an RCP 2.6 scenario results in a high risk in our loan portfolio due to high restructuring risk in our industries. RCP 6 results in an especi- ally high risk in the agriculture sector due to physical climate change. c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization's overall risk management: | 0risk
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Covers almost all chemical products. This is complex to estimate, since many chemicals have multiple applications, and the details of processing and conversion of chemicals by customers is not always known. Efforts will be considered to quantify these emissions for future reporting. Where customers request focused engagements, we collaborate to innovate on process improvements (see example described on page 21). | 1neutral
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We have undertaken an analysis of the impact to our business model of transitional scenarios where decarbonisation goals are, or are not, met. The details of this are presented in the scenarios section of this disclosure. | 1neutral
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For more information regarding the identification, analysis and management of risks at Iberdrola, see the following public documents, available on its website: - Section 'E' of the Annual Corporate Governance Report for financial year 2019. - The 'Principal risks and uncertainties' section of the Consolidated Management Report for financial year 2019 (particularly the section on climate change), as well as note 4 to the financial statements. - The Integrated Report. - The General Risk Control and Management Policy. https://www.iberdrola.com/ https://www.iberdrola.com/wcorp/gc/prod/en-US/corporativos/docs/gsm20-AnnualCorporateGovernance2019.pdf https://www.iberdrola.com/wcorp/gc/prod/en-US/corporativos/docs/gsm20-FinancialStatements-AuditorsReport-Consolidated.pdf https://www.iberdrola.com/corporate-governance/general-shareholders-meeting/documents https://www.iberdrola.com/corporate-governance/corporate-governance-system/corporate-policies/general-risk-control-management-policy | 1neutral
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8.2 Generation Portfolio Metrics AGL has heavily invested and continues to invest in renewable energy generation. In the past decade AGL has increased its renewable energy generation fourfold to over 4.4 TWh. AGL's percentage of generation from renewables has also grown over this period. Table 15 below outlines the changes in AGL's proportion of generation and capacity from renewables. | 2opportunity
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Using a more narrow application of climate-related scenarios to inform Prudential's efforts to mitigate its environmental impact, the company initiated a high-level analysis of science- based target setting methods to inform an update to its Global Environmental Commitment. | 1neutral
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In July 2020, BlackRock provided comments to the Department of Labor's proposed rule on 'Financial Factors in Selecting Plan Investments' (the 'DoL Proposal') highlighting our concern that the DoL Proposal could interfere with plan fiduciaries' abilities and willingness to consider financially material Environmental, Social, and Governance factors. BlackRock provided recommendations that aimed at helping the Department of Labor improve the DoL Proposal, while mitigating the potential burdens the DoL Proposal would have placed on plan fiduciaries. We were pleased to see several of our suggestions incorporated into the final rule. | 1neutral
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Strategy. We assessed the risks and opportunities we may face in 2030 under two climate scenarios; a 'Pessimistic' scenario and an 'Optimistic' scenario. The 'Pessimistic' scenario is where the world fails to address climate change, leading to global temperatures continuing to rise well above 2 degrees. This scenario assumes limited policy or regulatory support and looks at physical climate risks. The 'Optimistic' scenario is where the world rises to the challenge of tackling climate change and limits global warming to well below 2 degrees. This low-carbon transition scenario centres on the rapid changes that will be needed by 2030 to cut emissions in line with the Paris Agreement. Our scenarios are based on those developed by the Intergovernmental Panel on Climate Change. | 1neutral
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Impacts on societe generale's financial planning 3.5.1 Operating costs and revenues The deployment of climate-related product and services, investment in research and development as well as operational changes has led to changes in revenue and operational costs for Societe Generale, although we expect these changes are marginal. | 0risk
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The estimated associated emissions amounted to 780,000 Tonnes of carbon dioxide equivalent e. We do not believe these figures will have changed significantly since then, but we will regularly review them as part of our climate change strategy. | 1neutral
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2. Sustainable growth portfolio provides positive optionality - Under a 2 C scenario, a sustainable growth portfolio has stronger returns. We believe that this indicates investment returns will be best served through inclusion in the portfolio of a component of sustainable investments, particularly within equities, infrastructure and private equity. | 2opportunity
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Investec Limited banking book South Africa is significantly dependent on coal for its energy requirements, which makes it challenging to find a balance between the need for increasing energy access and economic growth in the country, and the urgency to reduce carbon emissions. The mix of our energy portfolio in South Africa reflects the trajectory of the country's energy transition. We see natural gas as part of this transition in the short-to-medium term as the country shifts away from coal and builds up renewable sources. | 0risk
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As the examples show, energy labels are a common way of qualitatively or quantitatively describing the transition risk for residential real estate. It is therefore important to note that the current availability and accuracy of energy label information is limited. Energy labels are not publicly disclosed in all countries. Where they are disclosed, we have noticed they are often inaccurate. As transition risk becomes apparent and the need to quantify this in our portfolio grows, the greater the need for correct data will become. https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2020/does-energy-efficiency-predict-mortgage-performance.pdf?la=en&hash=CC1DED249BFE86DB22A1AE70429BF235EA0325D8 https://eedapp.energyefficientmortgages.eu/wp-content/uploads/2020/08/EeDaPP-D57-27Aug20-1.pdf | 0risk
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In 2020, sustainability factors have been incorporated as one of the dimensions of the analysis in the Operating Frameworks of Autos, Energy, Utilities, Steel and Cement. All these sectors are included in the taxonomy as transition risk-sensitive. | 0risk
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AP2 follows up these decisions every two years with an analysis of whether additional companies are to be divested or whether companies should be re-included as they are no longer considered to have a significant financial climate risk. | 0risk
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Business risks and opportunities related to climate change are identified through an analysis of the sector and emerging trends, the study of market drivers and the identification of customer requirements. In terms of opportunities, Leonardo is mainly involved in the development of technologies for products and services with a low environmental impact (lighter aircraft and helicopters, which consume less fuel thanks to carbon aerostructures, hybrid and electric maritime propulsion systems, air traffic and vessel traffic management systems to optimise air and maritime traffic, virtual training services for pilots), the development of Earth observation solutions and data collection, to be provided to specialist operators, to monitor and limit impacts induced by climate change and the development of products and services, with special configurations that can intervene in the case of natural disasters. For further details, refer to the chapter 'Continuous innovation' and section 'Solutions for society and the environment' (chapters 'Sustainable mobility' and 'Earth observation'). | 2opportunity
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The AIETI will focus on ve supply chains critical to achieving the Paris Agreement temperature goals ('well-below two degrees Celsius and striving for 1.5 degrees Celsius') given their signicance to global emissions and their relatively higher abatement costs. | 0risk
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Sydney Airport's contribution to climate change solutions will also present new opportunities. These include: - Supporting the move to a carbon-constrained world by working with airline partners to provide infrastructure to support further electrification and low emission fuels - Integrating climate adaptation opportunities into community investment strategies aimed at supporting the resilience of our communities and their support for our activities - Lower operating costs by reducing energy consumption. | 2opportunity
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No significant financial risk on our balance sheet identified in past stress tests. A group of 16 banks, including UBS, and United Nations Environment Programme FI have partnered to refine methodologies for risk and opportunities. | 1neutral
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We can engage on our own (via our own funds) and also together with other investors. Joint engagements are for example done via our active membership of the IIGCC (Institutional Investor Group on Climate Change) and the Principles for Responsible Investment. Kempen is also part of an international engagement initiative called Climate Action 100+ that was launched in December 2017 and targets over 150 carbon intensive companies. For more engagement examples see kempen.com/en/asset-management/ responsible-investment. | 1neutral
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The Trustee has a preference for engagement, rather than exclusion, as a method in encouraging greater disclosures and practices with regard to climate-related risks. Two examples of such engagements are: | 1neutral
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Greenhouse gas Mitigation Measures Our five year Greenhouse gas mitigation plan consists of three key elements - Energy Efficiency (Reduce), Renewable Energy (RE) Purchase (Replace) and Travel Substitution (Reduce and Replace); of this, RE procurement will contribute the maximum, 80% share to Greenhouse gas emission mitigation strategy for Scope 1 and 2. | 1neutral
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We have updated our external sector statements to include positions on six new sectors including manufacturing, automotive, agriculture, animal welfare, fisheries and UNESCO World Heritage Sites. This is in addition to the existing statements on power, coal, mining, oil and gas, forestry and defence. www.lloydsbankinggroup.com/Our-Group/ responsible-business/reporting-centre/. Our statement on coal has been updated and made more ambitious. We continue with our policy of not financing new coal fired power stations. We have now tightened our requirements for providing general banking or funding, and now require new clients to have less than 30 per cent of their revenue from the operation of coal fired power stations and/or coal mines (previously less than 50 per cent). | 1neutral
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STOREBRAND'S USE Task Force on Climate-related Financial Disclosures Alignment and Current Use Storebrand will mainly use consistent and comparable risk metrics and values information that shows how climate-related risks are considered, compared with other areas of risk management. | 0risk
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Estimations of nanced emissions indicate the indirect impact the Group could have on achieving environmental outcomes in the real economy as a result of the Group's nancing activities and highlights the crucial role nancing can play in achieving environmental outcomes. | 1neutral
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Emissions of CH4, which account for approximately 22.2% of our carbon footprint (Scopes 1 and 2), are mainly due to fugitive emissions (15.3%) and natural gas venting (6.9%). Venting may occur as a result of operation and maintenance, operating safety, pneumatic valves and analysis equipment (chromatographs, etc.) | 1neutral
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