Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change
• Environmental damage
• Biodiversity loss
• Societal impact
• Governance

Environmental Achievements

• Reduced Scope 1 and 2 emissions by at least 30% by 2030 (from a 2018 baseline) - Barrick Gold example

Social Achievements

• Building resilience of communities to environmental degradation - Barrick Gold example
• Inclusive employment practices, high percentage of host country nationals in workforce and management - Barrick Gold example

Governance Achievements

• Robust governance framework, including Sustainable Development Policy and related policies - Barrick Gold example
• Implementation of an ESG scorecard to track sustainability performance - Barrick Gold example
• Mandatory training on Code of Business Conduct and Ethics - Barrick Gold example

Climate Goals & Targets

Environmental Challenges

• Lack of mandatory, universally enforceable sustainable finance standards and guidelines
• Vast amounts of data processing required, spanning structured and unstructured data
• Data privacy concerns
• Embedded bias in Generative AI systems
• Robustness issues (hallucinations)
• Explainability challenges
• Cybersecurity vulnerabilities

Mitigation Strategies

• Localizing Generative AI systems for private usage (to mitigate data privacy and cybersecurity risks)
• Careful prompt engineering to customize document summaries and reports
• Using multiple versions and algorithmic support to meet user needs
• Ensuring a user-friendly interface to improve adoption
• Scaling and upgrading Generative AI systems to meet increasing demands

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• extreme weather

Transition Risks

• increase in regulations
• increase in global investment in innovation and low-carbon technologies

Reporting Standards

Frameworks Used: TCFD, TNFD, GRI, European Sustainability Reporting Standards (ESRS)

Certifications: ISO 14001