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Claims and insurance supply chain  Risks of growing numbers of natural perils related claims was demonstrated by the bushfire, hail and storm events this financial year. This presents a short-term risk to operational claims handling capacity. In the medium term, supply and demand imbalances have the potential to impac...
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Climate change and the rapidly evolving response to it may lead to a number of risks, including but not limited to: • Increased political, policy and legal risks (e.g. the introduction of regulatory changes aimed at reducing the impact of, or addressing climate change, including reducing or limiting carbon emissions); ...
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In development, too, we must harmonise the desire to create jobs and growth with a serious approach to climate investment. After all, our EU climate action will not stop global warming by itself, because 90% of emissions are generated outside the European Union. If the growing demand for energy in Africa, for example, ...
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CLIMATE SOLUTIONS change. “When we think about livelihoods at risk from climate change impacts, we know that people living in developing countries, and especially the least-developed countries and small island states, are often most vulnerable and yet have the fewest financial resources to adapt,” says chief climate ch...
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Climate change is already a measurable global reality and our home country, South Africa, along with other developing countries, is likely to see a more pronounced impact due to the perceived lack of financial resilience. South Africa has an energy-intense economy and, as such, is a significant contributor to global ca...
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No changes have been made to the Bank Windhoek exclusion list, which is used to assess clients against activities that are not permitted due to unacceptable environmental and social impacts. No applications were declined on account of high risk, the exclusion list or any other environmental or social related reasons. N...
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The main credit risk the group faces is in relation to its Energy Efficiency Loan Scheme. This risk is actively managed with formal credit checking procedures at customer acquisition, and allowances for impairment are made where appropriate. Our bad debt provisioning policy is restricted to provide for loans in adminis...
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The Group faces many other risks which, although important and subject to regular review, have been assessed as less significant and are not listed here. These include, for example, natural catastrophe and business interruption risks and certain financial risks. A summary of financial risks and their management is prov...
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Climate change presents an evolving set of risks and opportunities for Coles, and has the potential to contribute to and increase the exposure of other material risks. These include increased frequency/intensity of extreme weather events and chronic climate changes which can disrupt our operations and compromise the sa...
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An inability to successfully manage and leverage our strategic third-party relationships, or a critical failure of a key supplier or service provider, may expose Coles to risks related to compromised safety and quality, misalignment with ethical and sustainability objectives, disruptions to supply or operations, unreal...
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2020 has been one of the most challenging and volatile years in recent history. In the first half of the financial year Australia experienced serious and prolonged drought conditions; the bush fires in early 2020 caused devastation along the eastern seaboard, and since then, the global COVID-19 pandemic has been causin...
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Over the long term, climate change will result in both acute events (e.g. increased severity and frequency of extreme weather phenomena) and chronic environmental changes (e.g. sustained higher temperatures). Resultant risks may manifest as: • operational risk (e.g. fines and penalties due to non- compliance) resulting...
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In the short term, changes in client behaviour and investor preferences for less carbon-intensive assets and products may result in market, reputational or legal risks for the group. The market risk arises from changes in asset prices and market spreads given investor capital allocation changes. Reputational or legal r...
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In 2013, Nationwide identified a gap in how and when lenders collect data regarding the mortgage security property, which impacts risk management and the customer journey. This often means that consideration of environmental risks on the property is limited and only takes place after the mortgage offer has been issued ...
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In the fiscal year ended March 31, 2020, GHG emissions from the Head Office, Company offices and branches, and domestic and overseas subsidiaries were 0.75 million tons. Further, GHG emissions from un-incorporated joint ventures in the metal resources and energy field totaled 3.07 million tons. As a result, total GHG e...
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Ensuring our business is resilient to long-term supply and demand requirements is a stretching target but critical to fulfil our customers’ needs. Climate change is a major challenge to our business that can impact our assets and service to our customers. We operate in the driest region of the UK, classed as ‘water str...
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Page 44 • Physical risks: There could be significant physical risks from climate change under both our 4°C and 1.5°C scenarios. These risks could be driven by increased temperature, increased storm intensities, sea level rise and changes in rainfall amount, seasonality and the intensity of extreme events. The types of ...
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From a business continuity standpoint, MGC has identified production downtime due to drought or flooding of production facilities as a water-related risk, formulated the business continuity plan (BCP) that addresses this risk and implemented measures to mitigate it. None of the areas in which MGC’s plants are located h...
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Physical risks • Risks that consist of chronic physical risks (rise in average temperatures and sea levels, etc.) and acute physical risks (increase in abnormal weather, such as typhoons and flooding, etc.) which are associated with physical changes due to climate change • Impacts could increase under the scenario of s...
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(changes in consumption behavior, failure of investments in new technologies, etc.), policy and regulatory system risks (tightening of regulations on greenhouse gas emissions, etc.), and reputational risks (criticism of industry, changes in consumer choices, etc.), which are associated with the transition to a low carb...
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(11) Climate change The negative effects of climate change are becoming increasingly severe and are thus recognized as social issues that must be addressed globally, as demonstrated by the Paris Agreement and the SDGs. The process of manufacturing chemicals emits large amounts of greenhouse gases (GHG), the primary cau...
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In terms of physical risks, extreme weather events such as typhoons and floods have the potential to become more serious. Such events could lower production capacity at the Group’s manufacturing bases and trigger an increase in costs from damages. Moreover, in regions where there is a heightened water risk owing to flu...
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We worked with the UK government to accelerate the transition to electric vehicles to cut carbon emissions and improve air quality for communities the length and breadth of the country. We were pleased to see a £500 million commitment in the 2020 Budget to support the rollout of new rapid-charging hubs so drivers are n...
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Our ESO RIIO-2 plan proposes new activities that will generate net benefits of around £2 billion for consumers over the five-year RIIO-2 period and spend over its two-year price control (2021–2023) of £514 million. The ambitious ESO plan focuses on how the ESO must evolve to meet the challenges of the changing energy l...
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Our investors also expect that we stand for something far more than providing economic returns. To facilitate the change towards net zero, in January 2020, we also announced the launch of our first green bond, issued by National Grid Electricity Transmission plc. The €500 million proceeds from the bond issuance will fi...
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In our Electricity Transmission business, we propose £1.35 billion of expenditure to connect new generation and transport electricity across the country to where it is consumed, connect us to neighbouring electricity markets and support the Electricity System Operator in being able to operate a zero-carbon electricity ...
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Across all our businesses our plans include targets and commitments to manage our own environmental impact, with £530 million of investment planned across Electricity and Gas Transmission. We have committed to reducing NOx emissions from our gas compressors, and achieving net zero construction emissions by 2025/26. We ...
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In the US gas distribution businesses, we are focused on decarbonising our gas networks and the heating sector. We are doing this by reducing emissions related to natural gas through energy efficiency and demand response, continued investment in our leaking pipe replacement programmes and advancement of the future of h...
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We strengthened our commitment to responsible ownership by investing directly in projects and companies that are making a positive impact, such as a $170 million commitment to affordable housing. And through the development of our new Climate Change Portfolio Transition Plan, we’ve committed to transitioning our invest...
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IFC Catalyst Fund: The $418 million IFC Catalyst Fund was launched in 2012 and invests in funds that provide growth capital to companies developing innovative ways to address climate change in emerging markets. It also may invest directly in those companies. As of June 30, 2020, the fund had made 22 commitments totalin...
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IFC partners with more than 30 governments, 20 foundations and corporations, and a variety of multilateral and institutional entities. In FY20, our development partners committed $288 million for IFC’s Upstream and advisory services and $22 million for blended finance initiatives to support private sector investments i...
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Climate Action Plan: IFC continues to focus on five strategic priority areas of climate business — clean energy, climate-smart agribusiness, green buildings, climate-smart cities, and green finance — as well as account for climate risk in key high-risk sectors. IFC’s climate strategy is part of the World Bank Group’s C...
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IFC is targeting new growth areas in energy storage, transportation logistics, distributed renewables, off-shore wind, nature-based solutions, and carbon capture and storage. In March 2020, IFC hired an electric vehicle (EV) industry specialist to help build IFC’s business across the EV value chain, including charging ...
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Medium-Term Business Plan 2017 includes a capital expenditure plan of ¥400 billion over five years as a means of “preparing the way for the future” to achieve our Vision for the Future. As of the end of FY2020.3, we have invested ¥273.4 billion cumulatively. In FY2021.3, we will continue investing in our real estate le...
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The Group is a major provider of non-retail loans. A key step in credit risk due diligence for non-retail lending is the assessment of potential transactions for environmental, social and governance (ESG) risks, including climate risk, through our ESG Risk Assessment Tool. All Institutional Bank loans, as well as large...
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Funds, launched a Climate Risk Monitoring Service and we also launched our £2.1bn All World Equity Climate Multi Factor Fund. RI will remain a high priority for all stakeholders in the Central Pool in the years ahead and we will continue to develop and enhance our corporate capabilities in this area.
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In 2020/21 we are investing €4.9m to improve the Erne and Derg cross border river catchments that are a source of our drinking water, piloting changes in land management techniques such as fencing to exclude livestock and replacing boom spraying of the herbicide MCPA for rush control, with weed wipers, which helps to r...
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Business Opportunities MUFG aims to contribute to environmental and social sustainability and help realize United Nations Sustainable Development Goals (SDGs) through financial services. We have committed to extending a total of ¥20 trillion for sustainable financing over a period spanning fiscal 2019 through fiscal 20...
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Of this, ¥8 trillion will be used for environmental finance aimed at helping counter climate change and otherwise addressing environmental concerns. Specifically, we will help popularize renewable energy via project finance while issuing Green Bonds whose net proceeds are allocated to Eligible Green Projects. We will a...
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That is where the European Circular Bioeconomy Fund steps in. On its way to raising €250 million for the bioeconomy and circular bioeconomy, the Fund invests in early-stage companies with proven technologies that need financing to scale up their operations and to expand into bigger markets. The bioeconomy and circular ...
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The European Investment Bank, the EU climate bank, signed a loan of up to €57.5 million to the Greek state in July 2020 to finance the construction and equipment of the Geophysical Observatory in Antikythera and the new oceanographic vessel. These projects have an implementation horizon of five to six years.
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On the other hand, we believe that green finance in companies, technologies, and projects that contribute to a low-carbon society will lead to an increase in investment and finance opportunities. For the Medium-Term Management Plan period from fiscal 2017 to fiscal 2020, we have set a quantitative target for ESG-themed...
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$40 trillion in assets. Signatories to Climate Action 100+ are requesting the boards and senior management of companies to: • Implement a strong governance framework which clearly articulates the board’s accountability and oversight of climate change risks and opportunities • Take action to reduce greenhouse gas emissi...
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Our first £250-million, eight-year bond will mature in August 2025 with a return to investors of 1.625 per cent. Since the successful launch of that debt transaction, we have raised a further £627 million of Green Bonds to investors in the UK and the United States in accordance with the ICMA Green Bond Principles.
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Our capital expenditure programme is focused on maintaining and improving our assets and services, ensuring we can deal with growth, and on meeting water quality and environmental standards. In AMP6, we completed a £2.2 billion programme of investment, delivered by our alliance partners, which will help provide our ser...
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In 2020, we invested £880,000 in delivering over 20 energy efficiency projects including a boiler upgrade, building management systems optimisation, improved lighting controls, and the installation of LEDs. These are expected to result in annual energy savings of 2,250,000 kWh. Over the next 12 months, we will pursue I...
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To bring focus to operational performance, we undertook a pilot certification of seven assets under BREEAM In Use. We will certify a further 30 assets over the next 24 months and have underpinned this goal with the announcement in March of a £450m ESG linked Revolving Credit Facility that requires a continual increase ...
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Key actions: • • Refreshed our Climate Change Roadmap Refreshed our Climate Change Roadmap to include commitment and pathway to to include commitment and pathway to target a 45% absolute emissions reduction target a 45% absolute emissions reduction by 2030 and net zero greenhouse gas by 2030 and net zero greenhouse gas...
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With regards to the energy transition, we carefully monitor sector-specific developments linked to the move towards a low-carbon economy. For upstream oil and gas, our credit assessments include a strong focus on production costs. By focusing on low-cost production, we work with our clients to ensure their businesses a...
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In regard to public policy risks, S&P Global monitors and engages on relevant developments globally through its Government Affairs function. The Company has established internal governance and reporting frameworks to identify, analyze, elevate, and engage on public policy risks and opportunities, including those associ...
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Citi is on track to meet our climate-related targets. We will continue to set new goals and report new metrics as the need and opportunity arises to help us manage our climate change risks, opportunities and responsibilities. We will also continue to evaluate how we can create new and better metrics and targets to revi...
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We did so by replacing less-energy-efficient models with more efficient ones, all compliant with the latest standards of DOE2017 and e-star3, saving approximately 3.2 billion kWh of energy compared to 2015.
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Project using non-mechanized mining technology More than 2 new coal mine projects with underground mining face Project using backward production process equipment for coal mining While restricting the underwriting and investment in the coal industry, Ping An continuously optimizes financial resources to support the dev...
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In 2019, ING joined the United Nations Environment Programme FI Pilot Project on Implementing the Task Force on Climate-related Financial Disclosures Recommendations for Banks, where ING specialists participated in sector working groups, including the oil & gas group. This experience has given us further qualitative an...
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3.6.1 Measure of strategic resilience against a 2 C scenario Societe Generale's strategy is reflected in its portfolio allocation, and therefore a measure of the strategic resilience of the Group against a 2 C scenario is a measure of the portfolio allocation against a 2 C scenario.
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Our generation capacity represents approximately 14 per cent of Australia's total NEM. We have a slightly lower proportion of coal than the NEM average and we continue to grow our share of wind and solar renewables. We have less hydro than the NEM average, reflecting the significance of the government-owned Snowy Hydro...
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UBS is also involved in other activities to reduce gaps in climate-related financial data. We support the CDP, as an investor member as well as a questionnaire respondent, in their aim to improve company disclosure of risks and opportunities related to natural resources. We are also on the advisory panel of the Natural...
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HayWired Resilient Business Challenge In 2018, JPMorgan Chase participated in the San Francisco HayWired Resilient Business Challenge, which is designed to help businesses increase their own preparedness and mitigate the impact an earthquake or other natural disaster could have on their ability to resume business activ...
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The Bank will also use the scenarios and results from the 2021 BES to assess any vulnerabilities it may face on its own balance sheet. This will build on the work done to analyse the exposure of the Bank's investment portfolios to the risks from climate change, which are set out in Chapter 4.
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Assessing our portfolios in relation to the Paris Agreement on climate During 2019 we started implementing measures to fulfil the Collective Commitment on Climate Action. A key action was our participation, along with 16 other banks, in the PACTA (Paris Agreement Capital Transition Assessment)3 pilot led by 2 Investmen...
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Primarily concerning the below 2 C scenario, analysis was implemented on the impacts on credit rating in each scenario, and the financial impact on the overall credit portfolio in the targetted sectors.
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For separate account clients, we make this data available directly to the client upon request. In addition to supporting our clients in considering climate and other sustainability-related risks to which a given fund may be subject, making this data available to our clients supports our clients' abilities to report Gre...
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The cost of the loan is associated with a Greenhouse gas emissions reduc- tion target of 1 million metric tons by 2025; o another $750 million SLL was syndicated for Finnish forest industry company UMP.
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Mobilizing private and institutional capital: We mobilize capital to support environmental and social issues, including the transition to a low carbon economy. For example: - We offer 100% sustainable discretionary mandates and asset allocation funds based on our new dedicated SI Strategic Asset Allocation for private ...
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The new index was built in three stages: - Firstly, Controversial Weapons Manufacturers were excluded from the universe of stocks that make up the FTSE All World Index universe, as the Trustee has a financial preference for avoiding such stocks where possible. - Secondly, a four-factor index was created (Value, Quality...
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Environmental, Social, and Governance Evaluation In April 2019, Ratings launched a comprehensive Environmental, Social, and Governance Evaluation that enables companies to measure their long term preparedness to manage Environmental, Social, and Governance exposure and opportunities. The Environmental, Social, and Gove...
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25II. STRATEGY: ACTUAL AND POTENTIAL IMPACTS OF CLIMATE-RELATED RISKS AND OPPORTUNITIES ON BNP PARIBAS' BUSINESSES, STRATEGY AND FINANCIAL PLANNING nus. A total of 1,057 Auto Ecologiques loan were issued in 2019 amounting to $27 million. - BDDF also launched EnergiBio, a lower-rate consumer loan used to fund energy ren...
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S&P Global has developed a suite of products across its underlying business units that help clients in this transition and will continue to invest in innovative solutions that power sustainable markets of the future.
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In 2018, our Robo Investment Subsidiary Wealthify launched an ethical investment option, focused on four ethical/SRI funds. Interest from customers has grown steadily with 25% of new customers selecting the ethical option. This now accounts for 13% of total assets under allocation for Wealthify and growing.
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Sasol promotes effective management and achievement of climate-related targets and objectives through appropriate performance incentives. With the exception of Mining employees below management levels who participate in production bonus plans, short-term incentives are distributed through the single short-term incentiv...
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Based on the information provided by the business delivery teams and the work of the Environment and Sustainability Department, Risk Management: - provides an independent assessment of risks associated with individual investments undertaken by the EBRD - performs an ongoing review of the portfolio to monitor the risks ...
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In anticipation of regulatory policies we are seeking to take advantage of the opportunity to deliver sustainable solutions for our clients. One example is our Mission 2030 statement, in which we state that we want to raise the average energy performance of all buildings financed by ABN AMRO to energy label 'A' by 2030...
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That said, over the next year, we are undertaking an assessment of available methodologies for measuring financed emissions in order to determine the feasibility of using these methodologies to help align our financing activities with the goals of the Paris Climate Agreement.
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In addition to participating in international working groups associated with the Principles for Responsible Banking, the Bank participates in the work of the Canadian Bankers Association on the following issues: Scenario analysis Integrating climate-related concepts into risk management Defining a Canadian taxonomy Mon...
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We are further improving the Greenhouse gas intensity of our manufacturing and fleet operations through the use of alternative and renewable fuels, such as renewable compressed natural gas (RNG) and biomass, as well as renewable electricity purchased or generated on site.
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In 2018, we committed to halving our scope 1 and 2 emissions intensity by 2030, from a 2017 baseline. We use a carbon intensity target per person, as headcount is closely linked to levels of business activity and this allows us to reflect the impact of acquisitions and disposals without needing to adjust our baseline. ...
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In May 2020, BBVA was the first private financial institution in Europe to issue a COVID-19-related social bond and, two months later, the Bank was the first financial institution to issue contingent convertible perpetual bonds (CoCos) classified as green bonds, for EUR 1 billion. The funds will be used to finance elig...
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In the US, the SEC has taken positive steps to facilitate e- delivery of mutual fund shareholder reports through the adoption of Rule 30e-3, which allows Registered Investment Companies to transmit shareholder reports electronically (subject to certain requirements). The ICI estimated that the adoption of Rule 30e-3 wo...
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Give investors an understanding of the implications of developing portfolios in accordance with the Paris Agreement by testing approaches and methodologies for real portfolios and to analyse financial characteristics, risks and opportunities associated with developing portfolios in accordance with the Paris Agreement.
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Two key reports were published in the 2020 nancial year, including a nance report and a science report which are available at: https://www.cmsi.org.au/reports - Climate-KIC Australia (Climate-KIC) - The Group has been working with Climate-KIC and a number of other organisations, including government agencies and indust...
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The engagement is driving improved conversations with our customers about climate change risks, allowing us to make more informed lending decisions and policies. Over time we expect more of our customers to report on their transition plans. We also intend for discussions on climate-related risks and opportunities to be...
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In relation to our commercial activity we have set a green finance target to raise and facilitate 120Bn euros between 2019 and 2025 and 220Bn euros between 2019 and 2030. This includes Santander's overall contribution to green finance: project finance, syndicated loans, green bonds, capital finance, and export finance,...
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Accordingly, as of 2019, BNP Paribas uses the me- thodology developed, on a sector-by-sector basis, by the think tank '2 Degrees Investing Initiative', to calculate the loan book's profile at various maturity dates for five high-carbon sectors (extraction of fossil fuels, electricity generation, transport, steel produc...
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Paper and waste: the BBVAsinplastico project (https://www.bbva.com/es/el-plastico- una-especie-en-extincion-en-bbva/) was launched with the aim of eliminating most single-use plastics in corporate headquarters, replaced by biodegradable materials. Plastic bottles from catering services were also replaced with purified ...
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While supporting our customers to reduce their emissions, we are also seeking to reduce the environmental impact of our own operations. We have a suite of environmental sustainability targets aimed at lowering our carbon emissions, reducing our water and paper consumption and increasing our recycling rates. See our 201...
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Based on these metrics, BNP Paribas set interme- diate targets for itself. The long-term ambition is clear (to align its businesses with the Paris Agree- ment goals), but to achieve that ambition calls for short and medium-term targets in more specific bu- siness lines, allowing the Group to steer its various business ...
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The EBRD's target to increase green financing to 40 per cent of its total annual financing by 2020, was achieved in 2019, with total GET-eligible finance reaching 46 per cent.7 The Bank is currently in the process of preparing its next green economy targets to cover the period 2021-25.
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Reflecting our efforts to help expand re/insurance protection by working with public-sector clients, we made a commitment to the United Nations to advise up to 50 sovereigns and sub-sovereigns on climate risk resilience and to offer them USD 10 billion of insurance cover against this risk by 2020. You can see the progr...
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Any misalignments will be represented at sector, technologies and counterpart level and road-testing banks will be able to leverage the methodology for reporting and steering potential capital misallocation, in order to be aligned with the 2 C goal of the Paris Agreement. The underlying matching software and calibratio...
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As a result of this exercise, with data at 30 June 2020, 18.4% of the exposure measured by EAD (equivalent to 9.7% of the Group's EAD) of the wholesale portfolio has been identified as corresponding to sectors defined as 'transition risk sensitive', with a very high, high or intermediate level of exposure to this risk....
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Launched by Bill Gates during the Conference of the Parties - Climate Change 21 conference, the coalition combines innovative re- search funded by public-private partnerships; - BNP Paribas helped draft the Charter for Engagement 'Women leading climate action', of the Women's Forum, a charter that has now been signed b...
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For example: The Fuel Management team performance score is tied to the company's Canadian rail industry emission intensity reduction target of 6% by 2022 from a 2017 baseline and we engage with our suppliers to obtain key information on and optimize our fuel blends in alignment with the Canadian Renewable Fuel Standard...
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In Singapore, we have begun proactive engagement and advocating collaboration with the National Climate Change Secretariat and Centre for Liveable Cities as part of 100 Resilient Cities, and lead business engagement and roundtables to share and discuss longer term climate risks.
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STRATEGY (S) a. Identifying and managing cli- mate-related risks and opportuni- ties with different time perspec- tives The most significant and largest-impact cli- mate risks and opportunities are related to our investment assets. In terms of our own operations, the impacts are minor. Indirect risks mainly arise throu...
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Our Commitment to Transparency in Stewardship Given the growing interest in our stewardship efforts from clients and broader society, we have significantly increased investment stewardship disclosure in 2020, including: - BlackRock Investment Stewardship 2021 Global Principles and market- level voting guidelines: Sets ...
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In order to address stakeholder concerns, we will only provide financing to clients who have projects to reduce materially their overall emissions intensity, and a plan for the company as a whole to have lower emissions intensity than the level of the median global oil producer by the end of the decade. This approach t...
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JPMorgan Chase is committed to reporting on our approach to and performance on a range of environmental and social issues. Our annual Environmental, Social, and Governance Report is one of the principal channels through which we discuss how we are addressing Environmental, Social, and Governance matters that we and our...
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Plants. This methodology is forward-looking and uses the IEA's 2 C scenario. This has allowed the Group to set target and transition away from coal power generation and extraction. Output from this analysis shows that the credit portfolio in these two sectors is aligned and below a 2 C scenario. - Societe Generale has ...
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Metrics and Targets Scotiabank sets, monitors and reports on climate change related performance and targets annually in Scotiabank's Sustainable Business Report. The Bank also reports to Carbon Disclosure Project (formerly the Carbon Disclosure Project). As part of Scotiabank's Climate Commitments, the Bank is tracking...
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BNP Paribas work together withe banks having signed the Katowice Commitment to test and recom- mend to test and recommend ways to improve the general methodology developed by the 2 Degrees Investing Initiative.
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