Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Achieved zero waste to landfill before the end of 2011 at all UK sites.
• Made progress on several fronts, including heat reuse from the cooling water system at Hobro Dairy in Denmark, resulting in an approximate 10% reduction in greenhouse gas emissions.
• 20% savings on water consumption in Denmark Protein, mainly due to increased water recycling.

Social Achievements

• Improved image and increased recognition of the Arla brand in Denmark.
• Launched the Sustainability on farm programme.

Governance Achievements

• Reviewed responsibilities, duties, tasks, and organization of the Arla Board.
• Introduced a new model for handling the milk price paid to the owners.
• Strengthened both internal and external reporting.

Climate Goals & Targets

Environmental Challenges

• Declining dairy commodity prices.
• Increased competition from suppliers in countries such as New Zealand, Australia, Argentina, and Brazil.
• Increased price sensitivity among consumers in Europe and the US.
• Weak economic outlook in the UK.
• New Danish tax on fat products.
• Economic crisis in Western world leading to slower growth.

Mitigation Strategies

• Investing heavily in innovation to find answers to the global nutrition challenge.
• Conducting research to ensure continued product innovation and development of raw milk as a resource.
• Focusing on streamlining the supply chain to reduce costs and increase efficiency.
• Implementing Lean production techniques.
• Actively pursuing mergers and acquisitions and consolidation opportunities.
• Developing a Post-Merger Integration (PMI) model.

Supply Chain Management

Responsible Procurement

• Code of Conduct for Suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: ISO 22000

Awards & Recognition

• Best supplier of the year 2011 by Danish retailers

Environmental Metrics

ESG Focus Areas

• Responsible company
• Confidence in products
• Care for the environment and animal welfare
• Respectful relations

Environmental Achievements

• Reduced total climate impact by 12% compared to 2005 levels despite increased production
• Reduced water consumption by 44% at Holstebro Flødeost since 2009
• Increased renewable energy share in some Swedish sites to over 90%
• Reduced waste going to landfill by 82% at Concord, Canada plant
• 84% renewable material in milk carton caps in Sweden (4.5% increase)

Social Achievements

• Launched a global health strategy focusing on stimulating healthy diets, simplifying choices, inspiring good food habits, and accommodating specific needs
• Improved consumer views of Arla across core markets
• Implemented Arlagården® quality program in all owner countries except UK (to be introduced in 2015)
• More than 95% of affected colleagues found alternative employment after Ashby dairy closure
• 80 of former Falkenberg dairy colleagues reapplied for jobs at new facility

Governance Achievements

• Established a CSR committee with the CEO as chairman
• Developed a mandatory e-learning training module on Arla’s Code of Conduct (available in four languages)
• Updated anti-bribery policy
• Expanded whistleblowing function to more countries
• Implemented a new payment model for milk, providing equal pay for equal milk across all owner countries by 2018

Climate Goals & Targets

Environmental Challenges

• Volatile milk price due to increased global milk supply and reduced demand from China and Russia
• Relocation of production lines impacting employees and the environment
• Balancing efficiency goals with concern for colleagues during restructuring
• Ensuring compliance of purchases from preferred suppliers
• Maintaining high standards in new and developing markets

Mitigation Strategies

• Implemented a long-term savings program
• Developed specific plans to mitigate negative effects of production line relocations, including outplacement support
• Implemented a new IT system for sourcing, contract management, and supplier performance management
• Revised supplier audit setup with increased focus on social responsibility, environment, health, and safety
• Applied three key criteria when doing business in growth regions: never compromise food safety, always have a positive overall impact, and always be a long-term business opportunity

Supply Chain Management

Supplier Audits: Approximately 40 audits globally in 2014

Responsible Procurement

• Code of conduct for suppliers
• Total Cost of Ownership (TCO) process
• Focus on preferred suppliers
• Sharpened requirements on palm oil suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001, ISO 22000, BRC, IFS, SQF, FSSC 22000

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Lactose-free products
• Products with reduced salt, sugar, and fat content
• High-protein products

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Responsible company
• Confidence in products
• Care for the environment and animal welfare
• Responsible relations

Environmental Achievements

• Continuously reduce greenhouse gas emissions across the entire value chain
• Improve resource efficiency for water, energy and materials
• Avoid and/or reduce waste from operations by maximizing reuse, recycling and recovery of materials

Social Achievements

• Provide safe and healthy working conditions
• Invest in employee personal and professional development
• Contribute positively to sustainable development in the communities in which we operate

Governance Achievements

• Committed to complying with applicable laws, rules and regulations
• Zero fraud and bribery tolerance
• Ensure transparency in business conduct

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Expect suppliers to comply with Code of Conduct, including environmental, social and human rights aspects

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: UN Global Compact, UN Guiding Principles on Business and Human Rights, OECD Guidelines for Multinational Enterprises

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Health
• Inspiration
• Natural
• Sustainable Dairy Farming
• Environmental Sustainability
• Human Rights
• Food Safety

Environmental Achievements

• Reduced total climate impact by 18% since 2005 despite increased production.
• Increased use of biogas at dairies by 80% compared to 2016.
• Reduced water consumption by 700,000 m³ in collaboration with suppliers.
• Reduced waste to landfill by 77%.

Social Achievements

• Introduced Arlagården® Plus for increased transparency in animal welfare and sustainable production (75% of farmer owners signed up).
• More than 480,000 consumers visited farms through Open Farm events.
• 93% of Arla® branded products fulfill Nutrition Criteria.
• Launched initiatives to improve nutrition in Bangladesh and Ethiopia.
• Published first corporate marketing policy on responsible food marketing.
• Improved management of product quality incidents.

Governance Achievements

• Strengthened commitment to respect human rights in all business areas and processes.
• Published a Modern Slavery statement.
• Aligned tools and processes for human rights assessment of business partners and suppliers.
• Introduced a common milk quality model in all member countries.

Climate Goals & Targets

Environmental Challenges

• Reducing the climate impact of transportation.
• Maintaining refrigerated supply chains in emerging markets.
• Balancing taste, affordability, and shelf-life when reformulating products.
• Addressing food waste in production and at consumer level.
• Ensuring sustainable sourcing of ingredients (palm oil, cocoa, soy).
• Negative human rights impacts in emerging markets.

Mitigation Strategies

• Investing in larger milk collecting tankers and eco-driving training.
• Developing long-life yogurt that doesn't require refrigeration.
• Using ingredients complementing dairy nutrients and optimizing processing/packaging.
• Donating surplus products to food banks.
• Conducting supplier audits and implementing a code of conduct.
• Conducting human rights due diligences and collaborating with NGOs and government bodies.

Supply Chain Management

Supplier Audits: 63 audits globally in 2017

Responsible Procurement

• Code of conduct for suppliers
• Supplier assurance team
• Monitoring programs for raw material safety and quality.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications: GFSI

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• 2
• 8
• 12
• 3
• 5
• 6
• 7
• 13
• 15
• 17

Arla's activities positively impact several SDGs through sustainable production, job creation, responsible sourcing, and providing healthy and affordable dairy products.

Sustainable Products & Innovation

• Long-life yogurt
• New packaging innovations reducing climate impact

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Sustainability
• Climate Change
• Animal Welfare
• Diversity and Inclusion
• Human Rights

Environmental Achievements

• Reduced farm level emissions by 24% per kg of milk compared to 1990.
• Launched Arla® Øko (Eco) milk carton, reducing climate impact by 358 tonnes of CO2 annually.
• Reduced emissions by 35% since 2014 compared to the production of the traditional milk carton.

Social Achievements

• Launched Arla &More range of healthy products.
• Relaunched Dano as Dano Power in Bangladesh, generating over 18 million digital engagements and 8% revenue growth.
• Sommarmjölk® initiative in Sweden, compensating farmers for extra summer grazing time for cattle, with three out of four conventional Arla farmers participating.
• Reduced product recalls by 80% in 2018.
• Arla Sweden began labelling fresh dairy products ‘Best before, often good after’ to reduce food waste.

Governance Achievements

• Transformed structure to become ONE Arla with direct membership for all owners.
• Improved delivery services with key accounts across Europe.
• Increased digital engagement for Arla® brands by 90% compared to 2017.

Climate Goals & Targets

Environmental Challenges

• Declining milk and commodity prices.
• Uncertainty from Brexit negotiations.
• Significant shifts in fat and protein prices.
• Weak GBP and unfavourable fat and protein prices.
• Challenges in bulk business in Nigeria.
• Delays in authority approvals in China.
• Changes in Chinese infant formula regulations.
• Declining dairy consumption trends in Europe.

Mitigation Strategies

• Strong focus on price and margin management.
• Introduction of Calcium transformation programme.
• Substantial cost reductions.
• Relentless focus on growing strategic brands.
• Acquisition of Yeo Valley organic brand.
• Planned acquisition of Mondeléz’ Kraft-branded processed cheese business in MENA.
• 21-year license agreement with StarbucksTM.
• Enhanced price performance management.
• Increased hedging of GBP exposure.
• Ambitious strategy to accelerate the transition to sustainable dairy.

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Arla® Øko (Eco) milk carton
• Arla Bio yoghurt

Awards & Recognition

• Over 50 marketing awards for Arla® brand
• 4 Effie marketing awards for Puck® brand
• Arla® Skyr Fruit & Oats voted Product of the Year in the UK

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Dyrevelfærd (Animal Welfare)
• Human Rights
• Responsible Sourcing
• Food Safety
• Nutrition
• Employee Well-being
• Governance

Environmental Achievements

• Achieved CO₂e-neutral fresh milk dairies and four distribution terminals in Denmark.
• Reduced greenhouse gas emissions from Danish dairies by 84% or 26,000 tons CO₂e annually through renewable energy.
• Implemented Climate Check on 8,126 farms (93% of farmers, 96% of milk volume).
• Launched new packaging initiatives reducing climate footprint (e.g., removing plastic lids from organic milk cartons).

Social Achievements

• Reached 75 million low-income consumers with affordable products in Nigeria and Bangladesh.
• Implemented updated Arlagården® quality assurance program, including quarterly animal welfare reporting.
• Launched Arla Deals, a digital platform for discounted short-shelf-life products.
• Increased products meeting Arla’s nutritional criteria by over 15,000 tons.

Governance Achievements

• Developed comprehensive manual for competition law compliance.
• Strengthened internal controls and monitoring activities to ensure Code of Conduct compliance.
• Improved management structure for reporting critical human rights risks.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting operations and stakeholder focus.
• Economic effects of COVID-19 disproportionately affecting vulnerable populations.
• Availability and price of renewable fuels.
• Challenges in communicating CO₂e-neutrality to consumers.
• Limited availability of segregated certified soy and palm oil.
• Data limitations in measuring biodiversity and water consumption on farms.

Mitigation Strategies

• Relied on cooperative democracy to address crisis effects.
• Continued investments in sustainable local dairy sectors in Nigeria, Bangladesh, and Indonesia.
• Introduced new initiatives on farms, operations, packaging, and logistics.
• Implemented online versions of Climate Check and training sessions.
• Developed alternative sourcing strategies for palm oil and soy.
• Improved communication on CO₂e-neutral products.
• Used RTRS and RSPO credits to promote sustainable production.
• Planning to introduce biodiversity assessments on farms in 2021.

Supply Chain Management

Supplier Audits: 71 audits (physical, virtual, and desk audits)

Responsible Procurement

• Code of Conduct for Suppliers
• Sourcing standards for soy, palm oil, and cocoa.

Climate-Related Risks & Opportunities

Physical Risks

• Climate change impacts on supply chain

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, SBTi, UN Global Compact

Third-party Assurance: EY (limited assurance for Scope 3 farm emissions)

UN Sustainable Development Goals

• Goal 2: Zero Hunger
• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 12: Responsible Consumption and Production
• Goal 13: Climate Action
• Goal 15: Life on Land

Initiatives contributing to these goals are described throughout the report.

Sustainable Products & Innovation

• CO₂e-neutral organic dairy products
• Plant-based oat drinks (JÖRĐ brand)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Supply Chain

Environmental Achievements

• Reduced climate impact for scope 1 and 2 by 25 per cent from a 2015 baseline year.
• Received approval from the Science Based Target Initiative for its new emissions reductions target of 63 per cent by 2030 for scope 1 and 2.

Social Achievements

• Increased supplementary payments to farmer owners to 1.5 eurocent per kilo of milk.
• Maintained a competitive pre-paid milk price that increased by 23% throughout the year to support farmer owners challenged by rising costs.

Governance Achievements

• Board of Representatives approved a new retainment policy to support investment levels required by Arla and its farmer owners.

Climate Goals & Targets

Environmental Challenges

• Continued disruptions from the pandemic.
• Renewed market volatility created by high inflation.
• Rising costs and additional requirements on farms.
• Significant increases in raw material and energy prices challenging margins.

Mitigation Strategies

• Strong operational execution to navigate global challenges.
• Strengthened financial position.
• Grew brands while delivering savings across the supply chain.
• Calcium transformation and cost savings programme delivered EUR 287 million in net savings (EUR 634 million excluding inflation).

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Science Based Target initiative (SBTi)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Dairy Farming
• Biodiversity
• Health and Nutrition
• Diversity and Inclusion
• Employee Well-being
• Human Rights
• Responsible Sourcing
• Governance

Environmental Achievements

• Reduced CO2e emissions from owner milk to 1.12 kg/kg milk from 1.15 kg/kg milk in 2021.
• Reduced scope 3 emissions by 2 percentage points per kg of milk and whey, and in total by 9% compared to the 2015 baseline.
• Reduced scope 1 and 2 emissions by 4 percentage points in 2022, and in total by 29 per cent compared to our 2015 baseline.
• Secured 100% green electricity for all production in Denmark by 2025 through power purchase agreements.
• Saved around 3 million litres of raw milk in three UK production sites by installing real-time material loss sensors.

Social Achievements

• Launched a Sustainability Incentive Model rewarding farmers for sustainability actions with up to 3 EUR-cent/kg of milk.
• Arla Protein delivered 48.9% volume growth in 2022.
• Reached over 87 million consumers with affordable nutrition products.
• Launched new affordable milk-based powder in Nigeria and Ghana.
• Food Movers educational program reached over 56,000 students in Denmark.

Governance Achievements

• Introduced a Sustainability Incentive Model for farmers.
• Divested Russian business due to the war in Ukraine.
• Enhanced risk management process across business units.
• Published data ethics policy.
• Revised and strengthened Code of Conduct for Suppliers.

Climate Goals & Targets

Environmental Challenges

• Inflation and uncertainty in global markets and supply chains.
• Russia's invasion of Ukraine exacerbated pressure on global markets and supply chains.
• Soaring production costs for farmers.
• Significant downwards trend in consumer spending.
• Decline in branded volumes due to cost-of-living crisis.
• High inflation in energy prices, ingredients, and packaging.
• Climate-related regulatory changes and potential carbon taxes.
• Risk of decline in milk volumes due to climate-related risks.
• Risk of impairment of production capacity due to climate-related risks.
• Risk of increased production costs due to climate-related regulations.

Mitigation Strategies

• Agile execution and price increases across business segments.
• Introduced a sustainability incentive for farmers.
• Adjusted expectations regarding branded volume growth and efficiencies.
• Implemented energy efficiency initiatives at production sites.
• Developed alternative sourcing strategies.
• Strengthened risk management process.
• Published data ethics policy.
• Revised and strengthened Code of Conduct for Suppliers.
• Implemented a Sustainability Incentive Model.
• Entered into power purchase agreements for green electricity.

Supply Chain Management

Supplier Audits: 58 supplier audits conducted in 2022

Responsible Procurement

• Code of Conduct for Suppliers
• Responsible sourcing of palm oil, soy, cocoa, and forest fibre.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Climate-related regulatory changes
• Regulations to reduce emissions in production and from agricultural activities
• Land use regulations
• Environmental footprint and origin labelling
• Change in dietary guidelines and trends

Opportunities

• Development of energy-efficient products and processes
• Sustainability Incentive Model

Reporting Standards

Frameworks Used: TCFD, UN Sustainable Development Goals, UN Global Compact, GRI, Danish Financial Statements Act §99a and §99b

Third-party Assurance: EY Godkendt Revisionspartnerselskab

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 2 (Zero Hunger)
• Goal 3 (Good Health and Well-being)
• Goal 8 (Decent Work and Economic Growth)
• Goal 16 (Peace, Justice and Strong Institutions)

Arla's initiatives contribute to these goals through sustainable dairy farming, emission reductions, affordable nutrition products, employee well-being programs, and responsible governance.

Sustainable Products & Innovation

• Arla Protein
• Probiotic quark range in sustainable fibre cup
• Personalised lids from consumers in Luonto+ yoghurt cup range
• Recyclable packaging for cheeses in UK
• Simplified sachet and pilot recycling project for Arla® Dano Daily Pushti in Bangladesh

Environmental Metrics

ESG Focus Areas

• Climate change
• Animal welfare
• Biodiversity
• Resource use and circularity
• Own workforce
• Workers in the value chain
• Consumers
• Business conduct
• Food safety

Environmental Achievements

• Reduced scope 1 and 2 emissions by 4 percentage points in 2023, reaching a total reduction of 33% compared to the 2015 baseline.
• Reduced scope 3 emissions per kg of milk and whey by 3 percentage points (2022: 2 percentage points), and in total by 12% compared to our 2015 baseline.
• Increased renewable electricity share to 69% in 2023 from 52% in 2022.
• Reached 0% virgin fossil-based plastic in packaging for some own brands.

Social Achievements

• Launched the Sustainability Incentive model, paying out EUR 226 million to farmer owners based on their sustainability activities.
• Employee Engagement Index was 86% in 2023.
• Reached 97 million low-income consumers with affordable nutrition products (target: 90 million).

Governance Achievements

• Implemented a Sustainability Incentive model linking farmer payments to on-farm sustainability actions.
• Strengthened risk management process by enhancing the approach across business units.

Climate Goals & Targets

Environmental Challenges

• Market volatility and shifting consumer behavior due to inflation and decreasing commodity prices.
• Adverse foreign exchange rate effects.
• High inflationary pressure on operational costs.
• Maintaining competitiveness in a deflated dairy market.
• Addressing deforestation and conversion-free sourcing of primary risk commodities.

Mitigation Strategies

• Implemented efficiency program, Fund our Future, delivering net savings of EUR 114 million.
• Launched Customer Sustainability Programme to commercialize on-farm sustainability efforts and help customers achieve their scope 3 reduction targets.
• Established sourcing policies for palm, soy, and forest fibre to achieve deforestation and conversion-free status by 2025.
• Implemented a carbon pricing scheme to incorporate carbon impact into investment decisions.

Supply Chain Management

Supplier Audits: 73 physical and virtual audits in 2023

Responsible Procurement

• Code of Conduct for Suppliers and Business Partners
• Global Purchasing Policy
• Responsible Sourcing Policies for palm, soy, and forest fibre

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Heat waves

Transition Risks

• Climate-related regulatory changes
• Regulations to reduce emissions from agricultural activities
• Land use regulation
• Animal welfare regulations
• Environmental footprint and origin product labelling
• Change in dietary guidelines and trends

Opportunities

• Development of energy-efficient products and processes
• Leadership in sustainable dairy production

Reporting Standards

Frameworks Used: ESRS, GRI, TCFD, UNGC, SDG

Certifications: Global Food Safety Initiative

Third-party Assurance: SGS (limited assurance for most disclosures; reasonable assurance for key metrics)

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)
• Goal 12 (Responsible consumption and production)
• Goal 13 (Climate action)
• Goal 2 (Zero hunger)
• Goal 3 (Good health and well-being)
• Goal 8 (Decent work and economic growth)
• Goal 16 (Peace, justice and strong institutions)

Arla's initiatives contribute to these goals through various programs and targets related to climate change, resource efficiency, food safety, animal welfare, employee well-being, and responsible business conduct.

Sustainable Products & Innovation

• Arla Protein
• Improved recipes for Puck cheese with reduced fat and salt, increased protein

Awards & Recognition

• Arla® recognised as Europe's most popular dairy brand by the 2023 Kantar Brand Footprint report

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Food Systems
• Food Security
• Farmer Engagement
• Digitalization of Agriculture

Environmental Achievements

• Achieved -63% reduction target for Scope 1 & 2 emissions (approved by SBTi)
• Achieved Scope 3 target of -30% per tonne of standardized raw milk (approved by SBTi)
• Launched FarmAhead™ Incentive, paying out €2.2 billion by 2030 to support farmer sustainability efforts.
• Launched FarmAhead™ Customer Partnership to accelerate on-farm sustainability and help customers achieve Scope 3 emission reduction targets.

Social Achievements

• FarmAhead™ Incentive program engaging nearly 80% of farmer owners in the first six months.
• FarmAhead™ Check program collecting on-farm data to identify top levers for emission reduction.
• Focus on generational renewal in agriculture, addressing the challenge of aging farmer population.

Governance Achievements

• Arla Foods is a farmer-owned cooperative, giving farmers a central role in governance.
• Active participation in UN Global Compact and UN Sustainable Development Goals (SDGs).

Climate Goals & Targets

Environmental Challenges

• Global volatility, economic shocks, and sustainability crisis.
• Uncertainty about future legislation impacting investment and innovation.
• Polarization in agricultural policy discourse.
• Aging farmer population and generational renewal.
• Lack of digital infrastructure in rural areas.
• Threats to global food supply chains due to weather events, pandemics, and geopolitical conflicts.
• Need to increase food production by 40-45% by 2050.

Mitigation Strategies

• Advocating for an empowering, incentivizing, and enabling policy framework.
• Promoting open dialogue between public and private sectors.
• Implementing FarmAhead™ Incentive and Customer Partnership programs.
• Investing €4 billion in sustainability, digitalization, new production technologies, and product development (Future26 Strategy).
• Promoting public-private partnerships.
• Supporting digitalization of agriculture.
• Advocating for a holistic food systems approach.
• Supporting research and innovation.

Supply Chain Management

Responsible Procurement

• FarmAhead™ Check requirements covering climate, nature, milk quality, animal welfare, and people.

Climate-Related Risks & Opportunities

Physical Risks

• Droughts
• Floods

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: Science Based Targets initiative (SBTi), UN Global Compact, UN Sustainable Development Goals (SDGs)