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Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Our approach has four elements: Awareness, Engagement, Integration, and Innovation. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | On one hand we see growing interest for low-carbon investments, reflected in the growth in low-carbon products, services and technology and a budding interest from institutional investors in investment solutions that not only account for climate risks but also tap into opportunities. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Tapping on these opportunities, in 2016 we launched the Hermes Global Equity Low Carbon strategy aiming to invest in companies with specific products and business strategies that support the transition to the low-carbon economy. | Strategy b) |
Does the company describe the climate-related risks or opportunities it has identified? | 1. Should our products fail to meet energy-efficiency standards and regulations, we will risk losing sales opportunities. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 2. In order to minimize these risks, we take into consideration such factors as location and the possibility of damage from flooding when setting up a new plant or deciding on the deployment of equipment. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 3. Hitachi is promoting the efficient use of resources by reducing waste, recycling, and undertaking other measures. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 4. Hitachi proactively uses renewable energy for our factories and offices. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | 5. Hitachi sees climate change risks and opportunities as important management issues. | Strategy a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We use several metrics to measure and track our progress against key targets, and we will be refining our approach to financed emissions (scope 3), including carbon intensity, for specific portfolios. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We set a new sustainable finance and investment target of $750bn to $1tn by 2030, after reaching $93.0bn of our $100bn by 2025 target. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We continue to disclose our wholesale loan exposure to the six high transition risk sectors, and use our corporate customer transition risk questionnaire to help inform our risk management. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We continue to disclose business travel, energy-related emissions and renewable energy use, and aim to disclose further details on our own scope 3 emissions in future reporting. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We have carried out various exercises to analyze our resilience, including using the Paris Agreement Capital Transition Assessment (‘PACTA’) tool to assess our customers’ impact on climate and help develop clear pathways to net zero financed emissions. | Metrics and Targets a) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | We have also developed a system to meet the target by purchasing allowance units through the emissions exchange at times when the target has not been met. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Regulations on fuel efficiency and emissions across the world, including Korea, the U.S., Europe, China and India. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Enhance fuel efficiency technology for all models and develop eco-friendly cars. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Increase in sales of eco-friendly cars due to reinforced GHG regulation. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Opportunity for sales increases of the company. | Strategy b) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Listed equities, reporting 91%, of which comprehensive reporting accounted for 86%. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | No corrections were made to the corporate bond portfolio’s reported figures. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We have investments in a total of five ESG-oriented ETFs, i.e. sustainable exchange-traded index funds. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Proportion of investments with reported greenhouse gas emissions, listed equities 84% 87% - share of comprehensive reporting, listed equities 99% 85% | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Proportion of investments with reported greenhouse gas emissions, corporate bonds 66% 68% - share of comprehensive reporting, corporate bonds 99% 85% | Metrics and Targets a) |
Does the company describe the climate-related risks or opportunities it has identified? | Content: heavy snowfalls, extreme temperature variations)Short/medium/long term Possible damage to the Bank’s infrastructure, increased costs related to the change in average outside temperature and possible interruptions in banking activitiesAdoption of a business continuity plan and measures to prevent physical damage to the Bank’s Structures | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Regulations and incentives on renewable energyShort term Negative impact on loans to customers that want to invest in renewable energy sources | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Uncertainty surrounding environmental regulationsShort term Negative impact on the possibility of implementing new products and servicesActive collaboration with policy makers to highlight the need for stable and clear regulations and to be kept up-to-date on changes underway | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Fluctuation of socioeconomic conditionsMedium/long term Reduction of customers’ economic capacity and subsequent difficulty in repaying debtsImplementation of a Disaster events ceiling for the reconstruction of damaged properties and suspension of payments in the case of major natural events | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Extreme atmospheric events Short/medium/long term Financial implications related to the default risk of businesses seriously damaged by extreme atmospheric eventsSuspension of repayments of loans and allocation of specific funding at special conditions in favour of damaged customers | Strategy a) |
Does the company describe the resilience of its strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario? | We think that this scenario offers the best means of evaluating the changes needed to align portfolios to the Paris Agreement. | 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? | Aggregate valuation impacts are negative in the 1.5 °C scenario. | 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? | Transition risk impacts outweigh physical risk impacts. | 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 mitigate these long-term risks, climate transition risk must take place in the short term, and there is a cost to it. | 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? | Under the 1.5 °C scenario, this could reduce investment value by 4%. | Strategy c) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | The main reason is that companies seek to protect themselves against climate risks by broadening responsibilities and consequently the risks for insurance companies. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Since 2012 we are signatories to the Principles for Sustainable Insurance (PSI) and our assessment of E&S risks on insurance follows these principles. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | We use the climate change variables for pricing the insurance for companies. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Portfolios will be monitored from time to time and these data will be used in other internal studies and projects to identify any risk mitigation and opportunities. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | In the valuation process of the climate change variable for management of third-party’s assets, we build up scenarios for each issue as follows: physical damages, disease spreading, changes in the water cycle, emission pricing, agricultural and forest production, and new products. | Risk Management a) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | "To achieve this short-term target, we have steadily implemented measures by upgrading to fuel efficient aircraft such as the Airbus A350 and the Boeing 787, and reducing fuel consumption in daily flight operations." | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | "The medium- to long-term target is to achieve growth without increasing CO2 emissions beyond 2020." | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | "We will achieve this target by upgrading to fuel-efficient aircraft and reducing fuel consumption in daily operations, supporting the development and use of SAF in accordance with the CORSIA scheme, and engaging in emissions trading." | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | "CO2 emissions in fiscal 2018 were 1.6% lower than the previous year, and we have achieved 19.4% of cumulative total reduction since fiscal 2005." | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | "The JAL Group, as an emitter of large amounts of CO2 in its daily flight operations, is aware of the significant financial impact that climate change will have on business due to restrictions on CO2 emissions as well as increases in the price of fuel-efficient aircraft, changes in crude oil and Sustainable Aviation Fuel (SAF) prices, and changes in the percentages of each type of fuel used, among others." | Metrics and Targets c) |
Does the company describe its processes for managing climate-related risks? | The Risk Control Department is responsible for identifying, assessing, mitigating and monitoring financial risks inherent to JBS’s operations. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | The department also helps operational units identify and monitor financial risk specific to their own activities, supported by specialist staff and specific systems. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Financial transactions with financial institution counterparties: exposure thresholds are defined by the Risk Management Committee and approved by the Board of Directors, based on rating agency classifications. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | JBS also monitors indicators representing the volume of water and electricity used by its operations in order to optimize production processes and gradually reduce consumption. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | In Brazil, JBS monitors supplier farms located in the Legal Amazon States using a geospatial system capable of identifying non-conformities and barring raw material purchases from non-compliant suppliers. | Risk Management b) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Our sustainability ambition focuses on Climate, Circular Economy, Environment and Communities. The ambition articulates our efforts to improve the sustainability performance of our operations and puts the focus on developing innovative and sustainable solutions for better building and infrastructure. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Ethics, Integrity & Risk Committee is responsible for overseeing the risk assessment process and the activities performed by assurance functions including Legal, Compliance, Internal Control, Risk Management, Internal Audit, Group Investigations, Health & Safety and Security. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Ethics, Integrity & Risk Committee reports to the Audit Committee of the Board of Directors and meetings are held on a quarterly basis. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | As a business leader, we must ensure transparency and action around climate-related risks and opportunities. LafargeHolcim therefore supports the voluntary recommendations of the Financial Stability Board (FSB) Task force on Climate-related Financial Disclosures. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The identification, assessment and effective management of climate-related risks and opportunities are fully embedded in our risk management process (as described on page 66), which is subject to continuous improvement. | Governance a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | These two processes are connected, meaning that if climate change risks are identified in the global risk registration, they are considered in the environmental aspects analysis — and vice versa. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Each business unit is required to identify risks and assess their impacts on Lenovo’s strategy execution, then develop mitigation plans for select identified risks. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | We also evaluate climate change risks; the results of this evaluation are considered in the annual risk registration process described above. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Per these requirements, climate change is evaluated relative to its actual and potential influence on the environment and the business. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Climate change risks and opportunities are identified and evaluated as part of two processes within Lenovo’s business management systems: our global annual risk registration process and our annual environmental significant aspect evaluation. | Risk Management a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We exited our underwriting relationship with Adani Carmichael and entered into an agreement to exit thermal coal investments in Alberta, Canada, identifying a partner that is also committed to a decarbonized future. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | No longer accept underwriting risk for companies where more than 25% of their exposure arises from the extraction and/or production of energy from thermal coal. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Total investments in alternative energy sources (US$) $861 million. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Since 2007, we have invested more than $1.25 billion in wind, solar and hydro power projects and sustainable forestry initiatives. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Our total investment in alternative energy sources as of December 2020 was $861 million. | 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? | Meridian supports of climate action policy that would increase electricity demand in other sectors, in particular the use of electricity in the transport and industrial heat sectors of the economy. | 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? | Meridian has a mature commodity risk framework that includes specific limits for allowable exposure to spot electricity price risk. | 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? | Table 1. Top climate-related financial risks for Meridian Energy Top Risks Risk driversExtreme rainfall in hydro catchmentsNegative demand disruption - emissions intensive industriesIncrease in electricity spot price volatility Type Physical Transition Transition Scale Medium Medium Medium Likelihood About as likely as not About as likely as not Likely Timeframe Long-term (30 years) Long-term (30 years) Medium-term (5-10 years) ImpactsIncreasing intensity of extreme rainfall events in hydro catchments.Sudden drop in electricity demand as emissionsintensive industries are disrupted by ambitious climate change legislation or shifting consumer preferences for sustainable goods and services. As New Zealand increases its share of renewable generation, it may lead to higher levels of electricity spot price volatility. | 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? | Reduced electricity demand may negatively impact on Meridian’s revenue, for example if the dairy industry was curtailed due to climate action policy. | 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? | Probable Maximum Flood values are reviewed once every ten years to incorporate climate change. | Strategy c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | We identify and assess climate-related risks using our group-wide risk management framework. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Climate change has the potential to affect our business in various ways. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | We have identified both transition and physical risks. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Our commitments to 2025 and 2050 include reducing Scope 1 and 2 GHG emissions and establishing a Certification Managers Network. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | We are taking action and managing our impacts by transitioning to low carbon energy technologies, reducing the carbon footprint of our products, and refining our approach to sustainable fibre and forest management. | Risk Management c) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | That’s why we’re promising to be net zero based on our 2018 baseline, no matter how much our company grows. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | By 2025, we will reduce our emissions by 20%. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | By 2030, we will reduce our emissions by 50%. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Total GHG emissions were 113 million tonnes (CO2 equivalent) in 2018, 92 of which are in scope of our UN 1.5°C pledge. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Advanced agricultural techniques will deliver a regenerative food system at scale, supported by zero emission logistics and company operations. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | We’re also investing CHF 1.2 billion to help spark regenerative agriculture across our supply chain, as part of a total investment of CHF 3.2 billion by 2025. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | This analysis described potentially significant impacts from climate change on the Fund’s total portfolio, and concluded that the Fund’s allocation to public equity in developed markets, if left unchanged, would be at high risk in the event of the swift and strong policy action envisioned under the 2-degree scenario. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | While new low-carbon technologies may pose an investment risk for specific industries and companies across the portfolio, the Fund anticipates that there will also be significant opportunities to invest in those new or expanded technologies over the short to medium term, including low carbon energy generation and transportation, and the infrastructure to support those climate change solutions. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Physical Risks The physical impacts of climate change are already affecting businesses around the world, and the rate of impact is accelerating. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | The Fund has set a strategic priority of evaluating the constantly shifting individual factors and the complex interaction among those factors to inform the Fund’s investment, engagement and public policy advocacy strategies. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | With the transition to a low-carbon economy already underway and accelerating globally, and likely to affect virtually every investment in the Fund’s broadly diversified portfolio, the Fund is developing strategies to address both the risks and opportunities presented by climate change. | Strategy b) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | 1 Recycled materials thousand tonnes 35 39 Includes hazardous and non-hazardous materials. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | T o lead the next wave of sustainability in agriculture, we are offering growers products and technologies with a lower environmental impact and facilitating the adoption of agronomic best practices. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | 1 EM-MM-130a.1 Energy Intensity (company-wide) gigajoules per tonne of product (weighted average) 13.5 12.0 | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Water T otal water intake, by source million m3 2 17 208 RT-CH-140a.1 | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | T otal non-hazardous waste Mining waste or byproducts disposed million tonnes 26 31 Includes potash mining tailings and phosphogypsum byproduct. | Metrics and Targets a) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | New target: By 2030, reduce greenhouse gas (GHG) emissions by 50% both in own operations and third party supply chains. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Science based targets developed | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | GHG footprint calculator developed for AtSource supply chains | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | By 2020, all Olam farms, plantations and Tier 1 facilities to have implemented their 2020 GHG reduction plans | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Energy strategy developed to focus on 20 plants contributing 80% of Tier 1 processing emissions | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Climate-Smart operational plans in place at all plantations and farms | Metrics and Targets c) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Effective risk management is an integral part of Olam’s business model and a key success factor for realizing our strategic objectives. Olam has implemented a rigorous risk management framework that identifies and assesses the likelihood and impact of risks, and the actions needed to mitigate the impact across the entire business. Every year we assess the risks that could impact achievement of our strategic objectives at a consolidated level (top-down approach) and on a segment level (bottom-up approach). Among the key risks that escalated in 2019 – and our efforts to mitigate them – include: Agricultural Risk: as climate change becomes more prominent, its impact on agriculture will increase in the future. Many of the 50 risks which are tracked concern agricultural risks e.g. yield risk, and mitigation measures are being put in place accordingly such as drip irrigation on our palm plantation in Gabon. As well as working with farmers on mitigation and adaptation measures, we are exploring other ways to measure climate risk, e.g. climate VaR. The Group’s Chief Risk & Compliance Officer (CRCO) is also a member of the Executive Committee and reports to both the CEO and the Chair of the Risk Committee. The Company’s Risk Appetite Framework (RAF) provides periodic updates on the magnitude of the risks being run across the businesses and regions set against Board-approved boundary conditions. The RAF, GRD and ERS are updated and presented to the Board quarterly. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | Effective risk management is an integral part of Olam’s business model and a key success factor for realizing our strategic objectives. Olam has implemented a rigorous risk management framework that identifies and assesses the likelihood and impact of risks, and the actions needed to mitigate the impact across the entire business. The framework defines individual risks across 11 categories. Overall responsibility in monitoring and assessing risk lies with the independent risk function (Risk Office), and oversight of each risk is divided among the five Board Committees – Risk Committee, Audit Committee, Capital & Investment Committee, Corporate Responsibility & Sustainability Committee and Human Resources & Compensation Committee. The Group’s Chief Risk & Compliance Officer (CRCO) is also a member of the Executive Committee and reports to both the CEO and the Chair of the Risk Committee. The Company’s Risk Appetite Framework (RAF) provides periodic updates on the magnitude of the risks being run across the businesses and regions set against Board-approved boundary conditions. The RAF, GRD and ERS are updated and presented to the Board quarterly. Cyclone Idai impacted the Beira edible oils operations but the team were able to implement business continuity plans quickly and all employees were safe. Under our insurance program, there was also enough cover to ensure we were fully compensated. | Risk Management b) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Board members oversee management’s implementation of responsible investing principles and approve investment policies and enterprise risk appetite. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Management reports to the board at least annually on responsible investing initiatives and results, and this includes discussion of climate-related risks and opportunities. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The CEO, Chief Risk & Strategy Officer and Chief Investment Officer set responsible investing priorities, strategies and guidelines that help manage risk. | Governance a) |