Targets
Targets
1. the objective of this standard is to establish disclosure requirements that enable Users of Sustainability statements to understand the following:
(a) how the company addresses climate change in terms of material positive and negative, actual and potential impacts,
b) the company's past, current and future climate change mitigation efforts in line with the Paris Agreement (or an updated international climate change agreement) that are consistent with the goal of limiting global warming to 1.5°C,
c) the company's plans and capabilities to adapt its strategy and business model in line with the transition to a sustainable economy and to contribute to limiting global warming to 1.5°C,
d) Any other actions taken by the company to prevent, mitigate or ameliorate actual or potential negative impacts and to manage Risks and Opportunities, and the results of these actions,
e) the nature, type and extent of the company's Material risks and opportunities arising from its Impacts and Dependencies related to climate change and how the company is managing these risks and opportunities; and
f) the financial effects of the Risks and Opportunities arising from the company's Impacts and Dependencies in relation to climate change in the short, medium and long term.
2. the disclosure requirements of this standard take into account the requirements of relevant EU legislation and regulations (i.e. the EU Climate Law (30), the Regulation on Benchmarks for Climate-related Change (31), the Sustainable Finance Disclosure Regulation ( 32), the EU Taxonomy (33) and the third pillar disclosure requirements of the EBA (34)).
3 This standard covers disclosure requirements related to the following sustainability aspects: Climate change mitigation and Climate change adaptation. In addition, it covers energy-related aspects insofar as they are relevant to climate change.
4 Climate change mitigation refers to the company's overall efforts to limit the increase in the global average temperature to 1.5°C above pre-industrial levels, as defined in the Paris Agreement. This standard includes disclosure requirements for the seven Greenhouse Gases (GHG ) carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF6) and nitrogen trifluoride (NF3). It also contains disclosure requirements on how the company deals with its greenhouse gas emissions and the associated transition risks.
5 Climate change adaptation refers to the company's process of adapting to actual and expected climate change.
6. this standard includes disclosure requirements related to Climate-related physical risks (Physical risk from climate change) to the entity and the adaptation solutions to mitigate these risks. It also covers Climate-related transition risks arising from the need to adapt to climate-related hazards.
7. the disclosure requirements relating to "energy" cover all types of energy production and consumption.
Interaction with other ESRS
Interaction with other ESRS
8. ozone-depleting substances (ODS), nitrogen oxides (NOX) and sulphur oxides (SOX), along with other emissions to air, are related to climate change but are covered by the reporting requirements of ESRS E2.
9. the impacts on people that may result from the transition to a climate-neutral economy are covered by ESRS S1 Company Workforce, ESRS S2 Value chain workforce, ESRS S3 Affected Communities and ESRS S4 Consumers and End-users.
10 Climate change mitigation and adaptation are closely related to topics covered in ESRS E3 Water and Marine resources and ESRS E4 Biodiversity and ecosystems. In relation to water, as illustrated in the table of climate-related hazards in AR 11, this standard addresses acute and chronic physical risks (Physical risk from climate change) arising from hazards related to water and oceans. Biodiversity loss and ecosystem degradation that may be caused by climate change are addressed in ESRS E4 Biodiversity and Ecosystems.
11 This standard should be read in conjunction with ESRS 1 General Requirements and ESRS 2 General Disclosures.
and ESRS 2 General Disclosures.
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