Your browser is not up to date and is not able to run this publication.
Learn more

87

We have evaluated the following risks deriving from climate change as per the Integrated Risk Management System (IRMS) adopted by our company and pur- suant to the two main risk categories de- fined by the TCFD.

We have completed the first phase of the Short-term Risk Assessment (five years)

at company level, and are committed to furthering this analysis during 2019, tak- ing a top-down approach to focus on each business unit in the medium and long term. We have also identified the follow- ing opportunities of climate change in the areas defined by the TCFD and various steps to mitigate and strengthen our re- silience to climate change.

In order to achieve the aforementioned objectives, we measure our performance with regard to climate-related matters

at all levels of the company. The findings of these measurements in 2018 are pre- sented below.

These risks and opportunities will be in- cluded in our forthcoming Carbon Strat- egy in which we will endeavour to define them, including their medium- and long- term impact and the investments and

targets to cut GHG emissions. This infor- mation is shown in our Carbon Disclosure Project (CDP) Climate questionnaire re- sults. We achieved a B rating in the 2018 CDP.

Risks and opportunities

Metrics

OPPORTUNITIES Efficient use of resources Energy sources. Products and services.

Markets. Resilience.

RISK

TRANSITION

Policies and legislation. Technology. Markets. Reputation.

PHYSICAL

Acute.

Chronic.

2018 ANNUAL AND CORPORATE RESPONSIBILITY REPORT

AF_CEPSA_IARC19_ENG_V9.indd 87 17/5/19 11:46