APPENDIX 4 – TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURESFor more information about the Group’s governance around climate-related risks and opportunities, risk management processes, strategy and metrics used to assess climate-related risks and opportunities please see our official website.
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Disclose the organisation’s governance around climate-related risks and opportunities
Section “Climate risk and GHG emission management”, section “Health, safety, and environment”
Issues related to climate change are considered at regular meetings of the Board of Directors and Sustainability Committee of the Board of Directors. The Board of Directors oversees the process of managing climate-related risks and opportunities and approves the Group’s risk appetite. The Sustainability Management Committee (attended by the CEO, Vice Presidents, heads of business units) considers different climate-related issues, including the analysis of available decarbonisation technologies, asset-oriented measures to achieve emission quotas.
Disclose the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy, and financial planning where such information is material
Section “Decarbonisation pathway”
EVRAZ considers climate-related risks and opportunities, plans and designs measures to mitigate identified risks to make its business strategy and business model more resilient to the consequences of climate change. The decarbonisation pathway developing is started and will be integrated into operations and planning. Until 2030, decarbonisation initiatives will be mainly focused on energy efficiency, technological upgrade of equipment, and higher production productivity. EVRAZ analyzes long-term possibilities for decarbonisation.
Disclose how the organisation identifies, assesses, and manages climate-related risks
Section “Decarbonisation pathway”, section “Sustainability governance”
Climate-related risk management is integrated into the corporate risk management system. The Group determines relevant climate-related risks for the short, medium, and long term in line with TCFD within the categories of transition and physical risks. The Risk Management Group plays a key role in identifying, assessing, and monitoring climate-related risks and mitigation measures within the Group.
Metrics and Targets
Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material
Section “Climate risk and GHG emission management”, figures:
Section “GHG emissions and energy efficiency” targets (by 2030 compared to 2019):