Investor Presentaiton
En+
GROUP
En+ Group Annual Report 2021
STRATEGIC REPORT
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
APPENDICES
STRATEGIC REPORT
DIRECTOR FOR
SUSTAINABLE
DEVELOPMENT
Task Force on Climate-related
Financial Disclosures (TCFD)
This chapter of climate risk analysis
has been prepared in line with the
recommendations of the Task Force on
Climate-related Financial Disclosures
(TCFD). We intend to provide our
stakeholders with additional information
on the principles guiding our approach
to climate change, including identified
and assessed risks for our assets and
measures taken to mitigate and adapt
CLIMATE RISK
GOVERNANCE STRUCTURE
those risks. The conducted climate
risk analysis of the Metals and Power
segments, which includes transitional
and physical risks, was implemented in
terms of the Company's consolidated
operations in line with the TCFD disclosure.
The project on the assessment of
climate change risks and opportunities
for our value chain is completed. As
part of the strategy development,
the detailed disclosure in accordance
with the TCFD recommendations
will be published in autumn 2022.
HSE
COMMITTEE
TECHNICAL
OFFICER
DIRECTOR FOR
CHIEF
CAPITAL MARKETS
AND FINANCIAL
PRODUCTS
SUSTAINABLE
DEVELOPMENT
DIRECTORATE
DEPARTMENT OF
CAPITAL MARKETS
AND FINANCIAL
PRODUCTS
TECHICAL
DEPARTMENT
BOARD OF
DIRECTORS
AUDIT AND RISK
COMMITTEE
CEO
CLIMATE CHANGE TASKFORCE
CHIEF
OPERATING
OFFICER
CHIEF
FINANCIAL
OFFICER
FINANCIAL
DIRECTORATE
In 2020-2021, the Board and
HSE Committee discussed
climate-related issues in
Governance
The Group's climate risk corporate
governance system outlines the
relationship between the Group's
shareholders, the Board, the CEO and
the management team, as well as the
and duties of the Board
18 out of 43 meetings committees in relation to managing
the global climate change agenda.
When making strategic decisions
concerning climate change, the Group is
guided by its environmental policy, whose
main objective is the continual reduction
of environmental and climate impacts,
as well as mitigation and management
of related risks, with a view to preventing
global temperature rises above 1.5°C.
The Board of Directors possesses
strong capacity and competence to
respond to climate-related risks and
opportunities effectively. The Board
oversees the implementation of all ESG-
related corporate policies, monitors
the attainment of the Company's
environmental protection and climate
goals, performs annual analysis of the
progress towards climate change goals
and the implementation of activities
related to climate change, and makes
decisions to revisit the targets and
implement new activities that will be
included in the business plans.
On the subject of climate change, the
Board is mainly assisted by the Health,
Safety and Environment Committee (HSE
Committee). The HSE Committee assists
the Board in solving climate change
issues. The HSE Committee currently
oversees climate-related risks and reports
them to the Board of Directors to enable
the Board to address these risks.
In 2020-2021, the Board and HSE
Committee discussed climate-related
issues in 18 out of 43 meetings.
The main issues related to climate
change, which were addressed by
the HSE Committee, are as follows:
⚫ Health, safety and environment KPIs
Environmental risk management
Results of the environmental audits
Introduction of the UN Global Compact
Business Ambition for 1.5°C initiative
• UN Global Compact's SDG
Ambition Accelerator
Should any obstacles or important
matters related to climate change arise
that require a decision by the Board
of Directors, meetings may be held
dedicated specifically to discuss the
particular climate issue, in order to make
an immediate decision, such as potential
acquisitions and divestitures entailing
consideration of climate related risks.
To manage our pathway to net zero, we
have created the En+ Climate Change
Taskforce to drive our transformation.
The Taskforce is headed by the
Chief Operating Officer and reports
directly to the Chairman. Each of the
transformational verticals is led by a
senior executive from our management
team. The Taskforce works in continuous
collaboration across multiple lines
of business. The key objective of the
Taskforce is to develop an integrated
climate strategy that will enable us to
achieve our ambitious net zero GHG
emissions goal by assessing climate
change risks and opportunities.
The Group cooperates with branch
managers to stay up to date with the
most recent information on risks and
opportunities in all regions of operations.
KPIs are applicable to management
team members to ensure the absence
of environmental incidents, accidents,
or violations by such members. For the
CEO, KPIs also include other sustainability
metrics. A detailed list of goals is given
in the Metrics and Targets section.
Environmental protection activities are
carried out in both of our segments by
the specialised sustainable development
directorate. We are working on the
development of a climate risk register
covering the Group's assets. Managers
at all levels are responsible for the
timely identification and assessment of
risks, development of risk management
activities and communication of risks to
all of the Company's stakeholders within
their area of responsibility, and also for
ensuring that identified risks are included
in risk maps for the Group's divisions
and in the Group's corporate risk map
in a timely and complete manner.
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