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Does the company describe its processes for managing climate-related risks? | Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Describe the organization’s processes for identifying and assessing climate-related risks. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Climate-related risks are identified, assessed and managed as part of the general risk management process. | Risk Management b) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Climate-related risks are identified, assessed and managed as part of the general risk management process. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Disclose how the organization identifies, assesses, and manages climate-related risks. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Describe management’s role in assessing and managing climate-related risks and opportunities. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | The board’s oversight of climate-related risks and opportunities. | Risk Management c) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | By the end of the 2020 business year, we had evaluated 98.4%1 of the relevant portfolio.2 This refers to the BASF Group’s sales from products in its strategic portfolio to third parties in the business year concerned. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | A significant steering tool for the product portfolio, based on the sustainability performance of our products, is the Sustainable Solution Steering method. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Transparently classifying our products on the basis of their contribution to sustainability enables us to systematically improve them. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Accelerator products make a substantial sustainability contribution in the value chain. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We aim to make sustainability an even greater part of our innovation power and achieve €22 billion in Accelerator sales by 2025. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | This Report aligns with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and we have structured the Report to address the TCFD’s themes of Governance, Strategy, Risk Management, and Metrics and Targets. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We have previously published two climate-related portfolio analysis reports: Climate Change: Portfolio Analysis (2015) and Climate Change: Portfolio Analysis – Views after Paris (2016), which are available online at bhp.com/climate. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We constantly evolve our approach so we can deliver them sustainably into the future. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | The IPCC states that limiting global warming to 2°C may avoid some material climate change impacts, but the consequences will be significantly worse than if global warming can be limited to 1.5°C. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | The focus for this Report is on climate change, energy, greenhouse gas (GHG) emissions and the risks and opportunities linked to the transition to a low carbon future. | Metrics and Targets a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Our Risk Framework requires identification and management of risks to be embedded in business activities through the following processes: Risk identification, Risk assessments, Risk treatment, Monitoring and review. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Current material risks are required to be evaluated once a year at a minimum to determine whether the risk exposure is within our risk appetite. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Strategy risks inform, are created, or are affected by business strategy decisions or pursuit of strategic objectives. The Risk Appetite Statement and KRIs are available to assist in determining whether a proposed course of action is within BHP’s appetite. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Emerging risks are identified and initially monitored by subject matter experts. Ongoing management is handed over to risk owners when the impact and our response is defined. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | BHP has a dedicated climate change team that monitors and manages the emerging risks relating to climate change as they evolve. | Risk Management a) |
Does the company describe its processes for managing climate-related risks? | Our Risk Framework requires identification and management of risks to be embedded in business activities through the following processes: Risk identification, Risk assessments, Risk treatment, Monitoring and review. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our Risk Framework includes requirements and guidance on the tools and process to manage all risk types (current, strategy and emerging). | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our focus for current risks is to prevent their occurrence or minimise their impact should they occur. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our focus for emerging risks is on reducing the impact should an event occur, and on advocacy efforts to reduce the likelihood of the risk manifesting. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | BHP has a dedicated climate change team that monitors and manages the emerging risks relating to climate change as they evolve. | Risk Management b) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Our Risk Framework requires identification and management of risks to be embedded in business activities through the following processes: | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Our Risk Framework includes requirements and guidance on the tools and process to manage all risk types (current, strategy and emerging). | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Once a decision has been made, our risk process as described above applies. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organisation’s overall risk management. | Risk Management c) |
Does the company describe how processes for identifying, assessing, and managing climate-related risks are integrated into overall risk management? | For example, BHP has a dedicated climate change team that monitors and manages the emerging risks relating to climate change as they evolve. | Risk Management c) |
Does the company describe its processes for managing climate-related risks? | The ESG group and ES group work in partnership with the lines of business and Corporate Support areas to manage environmental and social risk within our business. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | As part of our enterprise risk management framework and credit risk management framework, we evaluate the environmental and social risk associated with credit and counterparty transactions and exposures. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We have developed and implemented specific financing guidelines to address environmental and social risk for specific lines of business. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | To assess exposure to clients’ environmental risks, we apply enhanced due diligence to transactions with clients operating in environmentally sensitive industry sectors, and we avoid doing business with borrowers that have poor environmental and social risk management track records. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We expect our suppliers to be aware of, understand and respect the principles of our Supplier Code of Conduct, which outlines our standards for integrity, fair dealing and sustainability. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Maintain quality as a management requirement at BRF, at all levels and instances, from the field to the table, reinforcing this message in the markets where we operate. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our Quality System deals with aspects involving food safety, including the Program Best Practices in Production and Hazard Analysis and Critical Control Points. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | To become a benchmark for environmental efficiency initiatives and monitoring of climate risks that affect the acquisition of raw materials and our industrial processes. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We monitor the entire production chain attempting to anticipate impacts on operating costs and availability of grains. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We also prioritize risks and opportunities arising from climate change, evaluating the potential financial impact, considering those with greatest influence. | Risk Management b) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Committee meets as frequently as required but not less than twice a year and any Committee Member may call a meeting. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Between 1 January 2018 and the date of this Report, the Committee met four times (including three times in 2018 and once in 2019). | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Sustainability Committee is appointed by CLP Holdings’ Board of Directors and the Members who served on the Committee during the reported period were: | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Mr Richard Lancaster (Chief Executive Officer) as the Chairman; | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | Ms Quince Chong (Chief Corporate Development Officer); and | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | In addition to the Members, the regular attendees at the Committee’s meetings include: Chief Financial Officer – Mr Geert Peeters. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Board oversees CPPIB's efforts to understand and manage 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? | They receive updates about broad trends and specific investment-related developments via ongoing risk reporting and approve our overall risk appetite and risk policy, including the integration of ESG factors and climate change specifically. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Head of Sustainable Investing provides the Board with updates on our sustainable investing activities. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The CFRO has explicit accountability to oversee and enhance the risk management framework and to ensure it is appropriate given CPPIB’s unique mandate and risk profile. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Board is therefore very much engaged in the oversight of the organization’s efforts to understand and manage these, including regular updates about broad trends and specific investment-related developments via ongoing enterprise risk management reporting. | Governance a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Our Risk Group is using various approaches to assess climate change risk, including scenario analysis, and “bow-tie” risk & control assessments. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Disclosure by our portfolio companies is critical to helping us assess climate change-related risks, so we work actively with companies to improve climate change-related disclosures. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | Climate change is a key risk in CPP Investments’ Integrated Risk Framework (see Risk taxonomy figure above). | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | CPP Investments is in the process of identifying and monitoring climate-related factors that may have an impact on our investment portfolio. | Risk Management a) |
Does the company describe its processes for identifying and/or assessing climate-related risks? | CPP Investments also uses its voting power to support shareholder proposals that encourage companies to improve disclosure of climate change-related risks. | Risk Management a) |
Does the company describe the climate-related risks or opportunities it has identified? | Danone conducts its business in highly competitive markets that include large multinational companies and numerous local players of different sizes. This competition could lead Danone to lose market share, increase its advertising and promotional expenditures, reduce its prices in order to defend its market shares or prevent it from raising its prices in order to overcome cost increases, which could have a significant adverse effect on Danone’s strategy and results. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Danone is developing and implementing actions, procedures, tools and policies that seek to prevent and reduce these risks, notably its Climate Policy which aims in particular to reduce its greenhouse gas emissions, foster “carbon positive” solutions, offer healthy and sustainable products, reinforce the resiliency of its water and food cycles, and eliminate deforestation from its supply chain by 2020. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Danone’s geographic expansion sometimes leads it to be present in regions exposed to natural risks, notably seismic. Natural disasters could therefore cause damage to persons, property or the environment, and directly affect Danone, its consumers or the regions where it is present, potentially having a negative impact on Danone’s activities, financial situation and image. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Danone’s businesses are directly related to nature and agriculture and are naturally faced with climate change, which could have negative effects on the natural water cycles, soil, biodiversity and ecosystems. Climate change could therefore affect the activity of Danone, its suppliers and its customers, which could have negative impacts on its results and financial situation. | Strategy a) |
Does the company describe the climate-related risks or opportunities it has identified? | Seasonal consumption cycles pertaining to certain Danone products and weather variations could adversely affect Danone’s activities and results. | Strategy a) |
Does the company describe its processes for managing climate-related risks? | Our sustainability and responsibility strategy is designed to support Diageo’s overall growth and performance. It aims to make a positive contribution to society while building our business by growing our brands’ relationships with consumers, strengthening our supply chain, supporting our productivity, and mitigating risk. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Key to our strategy is our assessment of our most material issues – those which are important to our stakeholders, the environment, and the future success of our business. These are reflected in our risk register and our growth plans too. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our 2020 targets help drive this strategy, which is underpinned by a commitment to acting as a good corporate citizen, with exemplary governance and ethics, respect for human rights and a focus on creating shared value. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | We measure and drive our performance in three interdependent areas: Creating a positive role for alcohol in society, Building thriving communities, Reducing our environmental impacts. | Risk Management b) |
Does the company describe its processes for managing climate-related risks? | Our 2020 targets each include metrics to evaluate the impacts of our work and help us coordinate our efforts. We aim to create value and contribute to the UN Global Goals at scale, bringing the maximum benefit for our stakeholders, and for us. | Risk Management b) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The company does not disclose the exact actual targets, as these qualify as commercially sensitive information, though they are in line with the published strategic, financial and sustainability goals of the company. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The targets contribute to the realization of the objective of long-term value creation. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The external auditors performed agreed-upon mandate procedures on target setting and realization. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The Deferral and Share Matching Plan thus provides an additional link between Managing Board remuneration and long-term sustainable value creation. | Governance a) |
Does the company describe the board’s or a board committee’s oversight of climate-related risks or opportunities? | The part of the STI that is linked to shared sustainability as well as to individual targets, represents 25% of base salary for on-target performance. | Governance a) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The targets are determined each year by the Supervisory Board, based on historical performance, the operational and strategic outlook of the company in the short term, and the expectations of the company's management and stakeholders, among other things. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The external auditors performed agreed-upon mandate procedures on target setting and realization. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The Deferral and Share Matching Plan thus provides an additional link between Managing Board remuneration and long-term sustainable value creation. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The part of the STI that is linked to shared sustainability as well as to individual targets, represents 25% of base salary for on-target performance. | Governance b) |
Does the company describe management’s or a management committee’s role in assessing and managing climate-related risks or opportunities? | The LTI performance targets are defined as follows: -Relative Total Shareholder Return (TSR) This is used to compare the performance of different companies' stocks and shares over time. | Governance b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Last year 41% of our purchased electricity came from renewable resources, compared with 21% the year before, which puts us on track to achieve 75% in 2030. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Not only do we work hard to improve our own operations; we also enable our customers to do the same with our innovative solutions. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Our innovative solutions are applied within three domains: Nutrition & Health, Climate & Energy and Resources & Circularity. | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | We will reduce our Scope 1 + 2 greenhouse gas emissions by 30% by 2030 (vs. 2016). | Strategy b) |
Does the company describe the impact of climate-related risks and opportunities on its businesses, strategy, or financial planning? | Sustainability is not only our core value and a key responsibility; it is also increasingly an important business driver that is fully engrained in our strategy, business and operations. | Strategy b) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Our new target, announced in 2018, is a 30% absolute reduction of our scope 1 + 2 emissions by 2030 versus our 2016 baseline. This is below a 2°C pathway. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Starting from 2019, business growth projects must either be GHG-neutral or else be compensated for. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | We actively manage our absolute GHG emissions reduction, GHG efficiency and energy efficiency. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Our scope 1 + 2 market-based GHG emissions decreased from 1.50 in 2017 to 1.23 million tons of CO 2eq in 2018. | Metrics and Targets a) |
Does the company disclose the metrics it uses to assess climate-related risks or opportunities? | Our GHG efficiency improved from 26% in 2017 to 33% in 2018 versus our 2008 baseline. | Metrics and Targets a) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our new target, announced in 2018, is a 30% absolute reduction of our scope 1 + 2 emissions by 2030 versus our 2016 baseline. This is below a 2°C pathway. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our scope 1 + 2 market-based GHG emissions decreased from 1.50 in 2017 to 1.23 million tons of CO2eq in 2018. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Our GHG efficiency improved from 26% in 2017 to 33% in 2018 versus our 2008 baseline. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | Starting from 2019, business growth projects must either be GHG-neutral or else be compensated for. | Metrics and Targets b) |
Does the company disclose Scope 1 and Scope 2, and, if appropriate Scope 3 GHG emissions? | We actively manage our absolute GHG emissions reduction, GHG efficiency and energy efficiency. | Metrics and Targets b) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Our new target, announced in 2018, is a 30% absolute reduction of our scope 1 + 2 emissions by 2030 versus our 2016 baseline. This is below a 2°C pathway. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Starting from 2019, business growth projects must either be GHG-neutral or else be compensated for. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | We actively manage our absolute GHG emissions reduction, GHG efficiency and energy efficiency. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | Our scope 1 + 2 market-based GHG emissions decreased from 1.50 in 2017 to 1.23 million tons of CO 2eq in 2018. | Metrics and Targets c) |
Does the company describe the targets it uses to manage climate-related risks or opportunities? | We use an internal carbon price of € 50/t CO 2eq in the valuations of key investment projects. | Metrics and Targets c) |