3 Taskforce on Climate-related Financial Disclosures (TCFD)
The TCFD recommendations are a set of voluntary, climate-related financial disclosures for use by companies to provide information to their stakeholders. We were among the first companies to commit to implementing, as fully as practicable, these recommendations as outlined in the TCFD’s implementation path. The recommendations are structured around four elements ‒ Governance, Strategy, Risk Management, and Metrics and Targets. This Report includes various disclosures relevant for the TCFD recommendations. To highlight this, for each TCFD theme reference is made to relevant sections.
TCFD elements |
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Recommended disclosures |
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References in this report |
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Governance |
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1. Managing Board’s oversight on climate-related risks and opportunities |
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Governance Framework – Sustainability
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2. Management’s role in assessing and managing climate related risks and opportunities |
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Planet – Climate change mitigation
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Strategy |
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1. Description of climate related risks and opportunities |
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2. Impact of climate-related risks on the company’s business activities and strategic and financial planning |
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Planet – Climate change mitigation
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3. Resilience of the organization’s strategy |
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Risk management |
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1. The company’s processes for identifying and assessing climate-related risks |
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2. The company’s processes for managing climate-related risks |
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3. Integration of processes for identifying, assessing and managing climate-related risks into the company’s general risk management system |
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Risk Management – Performance
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Metrics and targets |
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1. Metrics with which the company assesses climate-related risks and opportunities |
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Planet – Progress against our DSM Responsible Care Plan
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2. Disclosure of scope-1, scope-2 and scope-3 GHG emissions |
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Planet – Climate change mitigation |
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3. Targets used to manage climate-related opportunities and risks against performance |
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