) Climate change strategic risk assessment is a multi-faceted process, occurring at several levels and in several parts of the company, depending on the
nature and materiality of the specific sub-risk.
The scope of the process is wide, with the intention of being comprehensive. Categories of climate change risk that are considered include the following:
• Policy and regulatory risk assessment, at the global, regional, national and sub-national levels, in the short, medium and long term.
• Short and medium term business risk, arising from the costs of compliance with legislation and regulation, and with respect to the company as a whole,
its regional, national and sub-national interests, and business segments and individual businesses. This is assessed both in gross terms, and relative to
our sector and industry competitors. • Long term strategic business risk, arising from policy, technology and customer behaviour, including changes in demand patterns, and with respect to
fundamental portfolio balance, financial resource allocation and geographical participation.
• Operational and compliance risk, down to the individual asset level, for example with respect to mandatory measurement and reporting of operational
GHG emissions.
• The risk from the changing climate to new projects and existing operations, over all relevant time scales, to help inform new business investments and to
assist existing operations to consider and take action as needed in relation to potential impacts.
s
) Climate change strategic risk assessment is a multi-faceted process, occurring at several levels and in several parts of the company, depending on the
nature and materiality of the specific sub-risk.
The scope of the process is wide, with the intention of being comprehensive. Categories of climate change risk that are considered include the following:
• Policy and regulatory risk assessment, at the global, regional, national and sub-national levels, in the short, medium and long term.
• Short and medium term business risk, arising from the costs of compliance with legislation and regulation, and with respect to the company as a whole,
its regional, national and sub-national interests, and business segments and individual businesses. This is assessed both in gross terms, and relative to
our sector and industry competitors. • Long term strategic business risk, arising from policy, technology and customer behaviour, including changes in demand patterns, and with respect to
fundamental portfolio balance, financial resource allocation and geographical participation.
• Operational and compliance risk, down to the individual asset level, for example with respect to mandatory measurement and reporting of operational
GHG emissions.
• The risk from the changing climate to new projects and existing operations, over all relevant time scales, to help inform new business investments and to
assist existing operations to consider and take action as needed in relation to potential impacts.
s
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