Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2018; 2019

Interim emissions reduction target Carbon neutral operations; 70% absolute for Scope 1, Scope 2, Scope 3 category 6 2018 baseline by 2030; Oil and gas: 35% reduction of emissions intensity gCO2e/MJ (2019 baseline, 7.6 to 4.9) for Scope 1 and 2; 11-27% reduction of emissions intensity gCO2e/MJ (2019 baseline, 68.6 to 61.1-50.2), excluding midstream and services by 2030; Power generation: 54% reduction of Scope 1 emissions intensity gCO2e/kWh (340 to 156 2019 baseline) by 2030; Automotive: combined Scope 1, 2, 3 tank-to-wheel 47% reduction emissions intensity (192 to 102 gCO2e/km) by 2030

Interim target baseline year Absolute: 144,320; Oil and gas Scope 1, 2 intensity: 7.6 Oil and gas Scope 3 intensity: 68.6; Power generation intensity: 340; Automotive intensity: 192

Most recent interim target progress Absolute: 100,337

Interim target goals Absolute: 43,296; Oil and gas Scope 1, 2 intensity: 74.9 Oil and gas Scope 3 intensity: 61.1-50.2; Power generation intensity: 156; Automotive intensity: 102

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA NZE (2022)

Does the company use multiple scenarios? The Network for Greening the Financial System (NGFS) scenarios; net zero scenario (1.5C); divergent net zero (1.5C); below 2C (1.8C); delayed transition (1.7C); nationally determined contributions (2.5C); IPCC RCP8.5 (4.3C); IEA NZE, Canada ERP for Scope 3 financed emissions targets

Physical risks Extreme weather events and longer term shifts in climate patterns can increase operation costs and create more disruptions to operations.

Policy & legal risks Climate change regulations, frameworks, and guidance that apply to banks are rapidly evolving. Specifically focusing on disclosures and costs of regulatory environmental compliance.

Technology risks Technological or behavioral changes resulting from the transition to a lower-carbon economy that may disrupt current business practices

Market risks Shifts in supply and demand for certain commodities, products, and services

Reputation risks Increased climate-related expectations from stakeholders and community

Climate metrics used to assess compensation Short-term incentives, but explicit metrics do not include emissions reduction targets yet; weight unknown

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2019

Interim emissions reduction target Carbon neutral operations; 25% absolute reduction by 2025 of operations emissions (Scope 1, 2, 3 categories 1, 2, 6, 9); Energy sector: Scope 1-3 29% reduction in emissions intensity (2078gCO2e/$ in 2019 to 1475 gCO2e/$ by 2030); Power generation: Scope 1 59% reduction in emissions intensity by 2030 (376 kgCO2e/MWH in 2019 to 156 kgCO2e/MWH in 2030); Automotive manufacturing: Scope 1-3 tank-to-wheel 50% reduction in emissions intensity by 2030 (195 gCO2/vkm in 2019 to 97 gCO2/vkm by 2030); Aviation: Scope 1 of airlines & Scope 3 of aircraft lessors 8% reduction in emissions intensity by 2030 (87 gCO2/pkm in 2019 to 80 gCO2/phm by 2030)

Interim target baseline year Absolute: 1,573,636; Energy Scope 1, 2 Intensity CO2/$: 204; Energy Scope 3 Intensity CO2/$: 1874; Power generation intensity: 376; Automotive manufacturing intensity: 195 Aviation intensity: 87

Most recent interim target progress Absolute: 1,286,349

Interim target goals Absolute: 1,180,227; Energy Scope 1-3 intensity CO2/$: 1,475; Power generation intensity: 156; Automotive manufacturing intensity: 97 Aviation intensity: 80

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA NZE (2021; 2022)

Does the company use multiple scenarios? IEA NZE (2021; 2022)

Physical risks Increased damage to real property asset and facilities, infrastructure and equipment, impact on business activity and continuity, impact on crop production and livestock farming, increased insurance costs, coastal tourism, electricity generation, damage to roadways

Policy & legal risks Carbon pricing, increased operational costs of compliance, market entry barriers, policy shifts, and increased litigation and regulatory costs

Technology risks Increased operational costs to shift to climate-friendly technologies; competition from peers utilizing climate-friendly technologies

Market risks Reduced ability to attract and retain customers; decreased profitability; insufficient cash flow to cover operational costs; higher insurance costs; higher retention of insurance losses; limitation on growth prospects

Reputation risks Increased costs to attract and retain customers; decreased sales due to changing customer preferences; increased marketing costs to maintain brand image

Climate metrics used to assess compensation Part of 20% weight with other ESG metrics for short-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? EY LLP Limited assurance

Does the company have a Net Zero commitment? No

Net zero target None found

N/A

Interim emissions reduction target Carbon neutral for Scope 1, 2, 3 (6, 7)

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? N/A

Does the company use multiple scenarios? N/A

Physical risks N/A

Policy & legal risks N/A

Technology risks N/A

Market risks N/A

Reputation risks N/A

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2018

Interim emissions reduction target 35% emissions intensity by 2030

Interim target baseline year 770.0

Most recent interim target progress 562.0

Interim target goals 500.5

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA NZE

Does the company use multiple scenarios? IEA STEPS, IEA APS, IEA NZE

Physical risks Increased severity and frequency of extreme weather events can result in business disruption, reduced capacity, and increased costs of repairs and adaptation measures.

Policy & legal risks Evolving government policy, legislation, and regulations focused on climate change may affect operations and increase climate-related litigation.

Technology risks Success depends in part on technology, innovation, and continued diversification

Market risks Increase in demand for lower-carbon energy

Reputation risks Ability to achieve climate targets, meet regulatory requirements, and meet stakeholder expectations

Climate metrics used to assess compensation Part of 10% weight with other ESG metrics for short-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2019

Interim emissions reduction target 43% emissions intensity (tCO2e/million GTM); 40% scope 3 from fuel- and energy-related activities by 2030

Interim target baseline year Scope 1 and 2 emissions intensity: 11.61; Scope 3 intensity: 3.61

Most recent interim target progress Scope 1 and 2 emissions intensity: 10.69; Scope 3 intensity: 3.04

Interim target goals Scope 1 and 2 emissions intensity: 6.62; Scope 3 intensity: 2.17

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA SDS (1.8C)

Does the company use multiple scenarios? IEA SDS; NDCs; IEA STEPS; RCP 2.6; RCP 4.5

Physical risks May result in loss of revenue due to extreme weather events affecting customer activities, asset availability, and damage

Policy & legal risks Carbon pricing and its impact on operating costs, and as well other regulations such as the Clean Fuel Regulations, and standards that impose increased costs to research and development

Technology risks Move towards renewable fuels or alternative energy sources will require significant capital expenditure

Market risks Changing consumer preference for cleaner energy

Reputation risks None found

Climate metrics used to assess compensation Emissions intensity fuel consumed/GTM a part of combined ESG weighing of 20% for short-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2019

Interim emissions reduction target 27.5% absolute Scope 1, 2 operations; 38.3% emissions intensity locomotive operations Scope 1, 2, and Scope 3 category 3 by 2030

Interim target baseline year Absolute: 866,000.00; Scope 3 intensity: 24.55

Most recent interim target progress Absolute: 884,000; Scope 3 intensity: 25.17

Interim target goals Absolute: 627,850; Scope 3 intensity: 15.15

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? CP Railway Transformative scenario (1.7C)

Does the company use multiple scenarios? BAU (5-6C); Incremental (3-3.5C); Transformative (1.7C)

Physical risks Changing climate conditions, and severe weather or natural disasters could result in business interruptions and costs. Insurance maintained by the CP is also subject to coverage limitations, and may not be sufficient to cover all of CP's damages.

Policy & legal risks Escalating carbon pricing could increase direct costs to fuel purchases and other purchased goods, materials, and electricity

Technology risks None found

Market risks CP transports energy commodities; shifting consumer demand may reduce the demand of freight transportation

Reputation risks Failure to meet and achieve greenhouse gas reduction targets could have material adverse effect on CP's reputation

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Assurance (no details specified)

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2019

Interim emissions reduction target Carbon neutral operations; 30% emissions reduction of operations by 2030; Oil and gas: 33% emissions intensity (tCO2/TJ of primary energy) Scope 1 and 2 of upstream oil and gas. 24% absolute reduction of downstream Scope 3 oil and gas by 2030; Power generation: 0.06 tCO2/MWh by 2030 within portfolio by 2030

Interim target baseline year Absolute: 136,129; Oil and gas Scope 1 & 2 Canada physical intensity: 5.3 Oil and gas Scope 1 & 2 ROW physical intensity: 3.4; Oil and gas Scope 3 absolute 38,914 ktCo2; Power generation intensity: 0.2

Most recent interim target progress Absolute: 95,835

Interim target goals Absolute: 95,290.3; Oil and gas Scope 1 & 2 Canada physical intensity: 3.71 Oil and gas Scope 1 & 2 ROW physical intensity: 2.38 Oil and gas Scope 3 absolute 29,574 ktCo2; Power generation intensity: 0.06

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA NZE; OECM 1.5

Does the company use multiple scenarios? London metals and mining: Short-term Carbon Tax | Long term NGFS Phase 2 (REMIND) Residential mortgages: RCP8.5 Market risk: BoE 2021 Climate Biennial Exploratory Scenario: Late Action; 2021-BoC-OSFI Pilot Scenario: 2C Delayed Financed emissions: IEA ETP 2020; IEA NZE; OECM 1.5; NGFS REMIND MAgPIE 2.1-4.2 Net Zero 2050

Physical risks Flood-related risks to residential mortgages

Policy & legal risks Carbon pricing, and increase in climate-related litigation due to perceived actions or inaction in relation to climate change

Technology risks Emerging technologies that disrupt or displace demand for commodities, products, and services

Market risks Trading and underwriting positions may be exposed as markets respond to climate policy

Reputation risks Managing and reporting on climate-related risks could result in new risks. Stakeholders may also look to hold banks responsible for financing clients with operations responsible for negative impacts of climate change.

Climate metrics used to assess compensation Part of 25% tied to ESG for short-term incentive payments; no specific metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Indirectly

Net zero target Scope 1, 2 by 2050

2016; 2020

Interim emissions reduction target 50% methane by 2030; 40% Scope 1 and 2 by 2035

Interim target baseline year Million tonnes CO2e: 4.61; Scope 1: 23.81; Scope 2: 3.22

Most recent interim target progress Million tonnes CO2e: 2.55; Scope 1: 23.25; Scope 2: 3.09

Interim target goals Million tonnes CO2e: 2.31; Scope 1: 14.29; Scope 2: 1.93

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Shell Sky 1.5 scenario

Does the company use multiple scenarios? Shell - Sky 1.5 ; IEA SDS; Equinor Rebalance; Shell - Waves; IEA STEPS, Equinor Rivalry; Equinor Reform; IEA APS; Shell Islands

Physical risks Extreme rainfall, flooding, wildfires, and availability of water can impact and shorten window for operations

Policy & legal risks Increased compliance costs due to carbon pricing, Clean Fuel Regulations, as well as legal costs associated with the failure to meet reporting requirements

Technology risks Available technologies may not prove to be economic; risk of implementing new technologies and retrofitting existing facilities

Market risks None found

Reputation risks Changes in public support for climate action and increased activism in opposition to fossil fuels impact the market for products and services

Climate metrics used to assess compensation Part of 15% under Safety, Asset Integrity and Environmental performance measure; greenhouse gas emissions, absolute methane emissions for short-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC LLP Reasonable Scope 1 & 2; Limited Scope 3

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2016

Interim emissions reduction target 35% reduction absolute emissions Scope 1, 2 3(6) by 2030; Oil and gas: reduce emissions intensity by 30% for Scope 1 and 2; Power and utilities: reduce emissions intensity by 55-60% Scope 1 and 2 by 2030

Interim target baseline year Absolute: 134,782.00; Oil and gas Scope 1 and 2 intensity: 5.8; Oil and gas Scope 3 intensity: 65; Power generation intensity: 0.34

Most recent interim target progress Absolute: 109,286

Interim target goals Absolute: 0; Oil and gas Scope 1 and 2 intensity: 4; Oil and gas Scope 3 intensity: 48.75-55.25; Power generation intensity: 0.14

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? Net Zero 2050

Does the company use multiple scenarios? Net Zero 2050; NDCs; Delayed Transition

Physical risks Severe weather from environmental events such as droughts, floods, wildfires, earthquakes, and hurricanes and other storms could also potentially disrupt our operations

Policy & legal risks Failure to comply with climate-related regulations

Technology risks None found

Market risks Repayment challenges from clients in failure to adapt to a net zero future

Reputation risks Negative perception due to misalignment with climate commitments

Climate metrics used to assess compensation Variable pay 20% combined with ESG and customer experience metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2018

Interim emissions reduction target Carbon neutral; 50% absolute emissions reduction Scope 1 & 2; 25% Scope 3 (3, 6, 7) by 2030

Interim target baseline year Scope 1, 2: 97,600

Most recent interim target progress Scope 1, 2: 53,200

Interim target goals Scope 1, 2: 48,800

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Frequency and intensity of severe weather events could interrupt operations of third-party service providers

Policy & legal risks None found

Technology risks None found

Market risks None found

Reputation risks Failure to satisfy stakeholders if climate objectives are not met

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 3 financed by 2050

2020

Interim emissions reduction target Reduce emissions across 1/3 of AUM by 2030 from a 2020 baseline

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? NGFS Current Policies (3C+); NGFS Delayed Transition (1.6C); NGFS Net Zero (1.4C); SSP1-2.6; SSP5-8.5

Physical risks None found

Policy & legal risks Carbon pricing

Technology risks Transition to net zero will require significant build out of renewable infrastructure; high rates of transition risk related to assets in energy sectors

Market risks Changes to real estate demand; changes to commodity prices; changes to lower-carbon preferences

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? EY LLP Limited assurance

Does the company have a Net Zero commitment? No

Net zero target None found

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Road to Paris (SSP1-1.9 + IEA NZE); Path to Progression (SSP2-4.5 + IEA APS); Forged in Fire (SSP5-8.5; IEA STEPS)

Physical risks More frequent and severe extreme weather events may inundate coastlines, interrupt business operations, create supply chain disruptions, and increase the cost of clean-up and environmental remediation

Policy & legal risks Carbon pricing and other emerging regulations that could reduce the global demand for road transportation

Technology risks New technologies to improve fuel efficiency may result in decreased demand for product

Market risks Reduced demand for transportation fuel, changing uptake in EVs, biofuels

Reputation risks Public negative attitude towards fuel products

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Not verified

Does the company have a Net Zero commitment? No

Net zero target None found

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Extreme weather can negatively impact operations

Policy & legal risks None found

Technology risks None found

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target None found

2020

Interim emissions reduction target Carbon neutral by 2025; 58% absolute Scope 1 and 2 by 2030; 42% reduction of absolute Scope 3 emissions excluding purchased goods and services by 2030

Interim target baseline year Absolute: 303,544

Most recent interim target progress Absolute: 262,951

Interim target goals Absolute: 127,488.48

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA SDS

Does the company use multiple scenarios? RCP 8.5/SSP5; IEA SPS; BoC NDC; RCP4.5/SSP2; IEA SDS; BoC Consistent

Physical risks Extreme weather can increase operating costs, lead to asset impairment, service disruption, while increased temperatures can lead to increased costs for cooling requirements and increased investments for resilient technology

Policy & legal risks Carbon pricing regulations

Technology risks Increased costs due to e-waste treatment

Market risks Increased costs due to rising price of energy

Reputation risks Decreased demand for products and services due to failure to managing climate-related impacts

Climate metrics used to assess compensation Short-term incentive payments 8% tied to 'Engage and invest in our people and create a sustainable future' (20% out of 40% or total short-term incentive payments); Includes greenhous gas emissions reduction metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2019

Interim emissions reduction target 30% emissions intensity Scope 1 and 2 by 2030

Interim target baseline year 0.96

Most recent interim target progress 1.00

Interim target goals 0.67

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Extreme temperature and weather can affect market demand for power and natural gas, reduce efficiency and production

Policy & legal risks Carbon pricing, and increased climate-related litigation associated with meeting greenhouse gas regulations

Technology risks Uncertainty around traditional and energy transition technology development and deployment

Market risks Commodity price and volume risks; emerging decarbonization policies could affect energy consumption patterns and preferences

Reputation risks Inadequate management of rights holder and stakeholder relationships can impact projects

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

N/A

Interim emissions reduction target 10Mt Scope 1 and 2, 3 by 2030

Interim target baseline year N/A

Most recent interim target progress 254,810,000

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? No

Does the company use multiple scenarios? Low Carbon scenario (1.8C) by 2100; Free Markets scenario (2.4C) by 2100; Discord scenario (2.9C) by 2100

Physical risks No expected impacts of chronic costs beyond those already incorporated into the design of resilient infrastructure; shortened business operations due to extreme weather events; reduced productivity due to extreme temperature

Policy & legal risks Carbon pricing and fiscal incentives, renewable fuel mandates, electrification, oil and gas cap

Technology risks Risks of implementing energy efficiency, low-carbon technologies

Market risks Commodity prices, changes to added carbon pricing costs may make projects less profitable or uneconomic

Reputation risks Increased activism and public opposition to fossil fuels, risk of failure to meet climate targets

Climate metrics used to assess compensation Suncor introduced in 2022 a separate, mid-term, three-year climate performance share unit based on progress towards Suncor's climate-related initiatives (10Mt reduction)

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? EY LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2020

Interim emissions reduction target Carbon neutral by 2024; 30% for Scope 1, 2, 3(1, 6, 9) by 2030; Oil and gas: 35% reduction of Scope 1 and 2 by 2030, 27% reduction of Scope 3 by 2030 Power generation: 32% reduction of Scope 1 by 2030

Interim target baseline year Absolute operations: 90,826; Oil and gas Scope 1 and 2 intensity: 5.17; Oil and gas Scope 3 intensity: 68.54; Power generation intensity: 230

Most recent interim target progress Absolute operations: 67,531

Interim target goals Absolute operations: 63,578.2; Oil and gas Scope 1 and 2 intensity: 3.34; Oil and gas Scope 3 intensity: 50.04; Power generation intensity: 156

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Below 2C immediate; below 2C delayed; net zero 2050

Physical risks Business disruptions and extreme weather events can impact real estate lending portion of business

Policy & legal risks Carbon pricing and its impact on the increased cost of energy, oil and gas cap, further exposure to climate-related litigation

Technology risks Failure to invest in technology needed to transition, costs of lower-emissions technologies, cost of substituting existing products

Market risks Changing consumer interest in sustainable or 'green' financial products, uncertain market signals, increased cost of raw materials

Reputation risks Shift in consumer preferences, impacts resulting from association with traditionally high-carbon-emitting sectors

Climate metrics used to assess compensation Compensation business performance factor 3.6% based on accelerating climate action (36% out of 10% of ESG Index)

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Morrison Hershfield Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2019

Interim emissions reduction target 40% absolute Scope 1 and 2 reduction by 2035; 80% global real estate portfolio by 2050 (2019 baseline) by 2035; Power generation project finance: 72% reduction in tCO2e/kWh by 2035

Interim target baseline year Absolute operations: 272,218

Most recent interim target progress Absolute operations: 240,128

Interim target goals Absolute operations: 163,330.8

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? 1.5C (no details shared)

Does the company use multiple scenarios? 1.5, 2, 3, 4C

Physical risks Disruption and business losses from extreme weather; higher claims

Policy & legal risks Adapting to climate-related regulatory frameworks

Technology risks None found

Market risks Changes in customer preferences or expectations towards products; change in valuation of invested assets

Reputation risks Commitments may not meet the expectations of stakeholders or regulations

Climate metrics used to assess compensation Combined weighing of 20% with other ESG metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? LRQA Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Offsets from operations exceed 3.4 times net zero

2019

Interim emissions reduction target 15% reductions of absolute Scope 1 and 2 emissions by 2033

Interim target baseline year 6,682,305

Most recent interim target progress 5,650,872

Interim target goals 5,679,959

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA SDS

Does the company use multiple scenarios? IEA STEPS; IEA SDS

Physical risks Changes in sea level and the availability of insurance, as well as extreme weather events resulting in damages to facilities, service interruptions, and increased volumes for cleanup efforts

Policy & legal risks Increased compliance costs and the impact of the value of carbon credits generated by operations, as well as the risks of failure to renew or obtain permits for operations

Technology risks Increased expenses for new technology requirements or improvements, increased technological development could decrease landfill utilization

Market risks None found

Reputation risks Investor perception of waste industry, WC's ability to generate carbon credits

Climate metrics used to assess compensation 15% ESG target weight for performance share units

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Verified (no details specified)

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2019

Interim emissions reduction target 35% absolute Scope 1, 2 by 2035; absolute methane emissions in upstream operations by 80% by 2028

Interim target baseline year 10,700,000

Most recent interim target progress 18,100,000

Interim target goals 6,955,000

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA SDS

Does the company use multiple scenarios? Aggressive diversification (IEA SDS); accelerated diversification; reference case

Physical risks Negative impact on operations, including shorter winter drilling program

Policy & legal risks Carbon pricing, oil and gas cap, low-carbon fuel standard, methane emissions regulations, among others can result in changes of emissions regulation of current and future projects, increasing operation costs, as well as legal costs associated with compliance

Technology risks Limitations related to the development, adoption, and success of low-carbon technology, development of disruptive technologies that could have a negative impact on business resilience

Market risks Opposition to new and expanded pipeline projects, lack of access to capital markets, volatility of global demand and commodity prices for fossil fuels

Reputation risks Negative public perception due to climate litigation, negative public perception of oil and gas sector, shareholder activism, accountability and accuracy of climate scenarios and assumptions

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2018

Interim emissions reduction target 30% absolute Scope 1 and 2 by 2030

Interim target baseline year 7,541,000

Most recent interim target progress 7,400,000

Interim target goals 5,278,700

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? SSP1-2.6 (1.8C)

Does the company use multiple scenarios? SSP1-2.5; SSP2-4.5; SSP5-8.5

Physical risks Volatile climate conditions that affect the stability and effectiveness of infrastructure and equipment

Policy & legal risks Increases in regulations, carbon pricing

Technology risks None found

Market risks Stability and cost of water and energy supply

Reputation risks None found

Climate metrics used to assess compensation 25% ESG and License to Operate for Long-term performance scorecard; tonne CO2e per tonne of ore processed, progress against absolute emissions target

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Apex Companies, LLC Reasonable assurance Scope 1 & 2, Limited assurance Scope 3

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2019

Interim emissions reduction target 50% absolute Scope 1, 2, 3 (4, 5, 6, 8); carbon neutral operations from 2021 by 2030 Listed corporate bonds: 40% reduction in carbon intensity tCO2e/$M invested by 2030; Directly managed listed equities: 50% reduction in carbon intensity by 2030 Commercial real estate: 50% carbon intensity by 2030

Interim target baseline year Absolute: 72,506; Listed corporate bonds intensity: 82.4 Directly managed listed equities intensity: 59.3 Commercial real estate intensity: 0.034

Most recent interim target progress Absolute: 65,632

Interim target goals Absolute: 36,253 Listed corporate bonds intensity: 49.44 Directly managed listed equities intensity: 29.65 Commercial real estate intensity: 0.017

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Bank of Canada and OSFI pilot project

Physical risks Increased severity and frequency of extreme weather events impacting health, food insecurity, malnutrition; impact by environmental events and damage on underlying properties; impacts could harm the financial condition of reinsurers and insurers of property

Policy & legal risks None found

Technology risks None found

Market risks Transition to low-carbon could affect asset values of portfolio investments in coal, conventional oil and oil sands, and related fossil fuel industries

Reputation risks Negative perception if failure to meet expectations on climate action

Climate metrics used to assess compensation Sustainability modifier up to 10 percentage points; metrics include sustainable investment, greenhouse gas emissions reductions in operations (not financed)

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2016

Interim emissions reduction target 30% emissions intensity Scope 1 & 2 by 2030

Interim target baseline year 0.39

Most recent interim target progress 0.38

Interim target goals 0.27

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? ExxonMobil Outlook for Energy (2C) for business decisions; IEA NZE; IEA STEPS; IEA APS

Physical risks Extreme weather events impact resilience of operations and facilities

Policy & legal risks Current and pending greenhouse gas regulations or policies may increase compliance and abatement costs, increase abandonment and reclamation obligations, impact decommissioning timelines, and lengthen project evaluation and implementation times. Failure of policy to enable or assist in the development and deployment of CCS. Changes to Canada's Impact Assessment Act could establish legally binding policies that could adversely impact the company's ability to advance new oil sands projects.

Technology risks Failure or delay in the development or deployment of CCS

Market risks Earnings may be significantly affected by changes in commodity prices

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Yes (no details specified)

Does the company have a Net Zero commitment? No

Net zero target Scope 1, 2 by 2050

2018

Interim emissions reduction target 30% emissions intensity Scope 1, 2 by 2030

Interim target baseline year Scope 1 intensity: 0.53; Scope 2 intensity: 0.14

Most recent interim target progress Scope 1 intensity: 0.51; Scope 2 intensity: 0.12

Interim target goals Scope 1 intensity: 0.37; Scope 2 intensity: 0.098

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA NZE

Does the company use multiple scenarios? IEA APS; IEA SDS; IEA NZE; SSP 1-2.6; SSP 5-8.5; SSP 2-4.5

Physical risks Strain upstream and downstream supply chains, reduce crop yield, and impair customer ability to purchase products

Policy & legal risks Carbon pricing costs; more stringent regulations

Technology risks None found

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Greenhous gas emissions reductions and progress towards climate plan under 44.5% weight of broader strategic performance indicators

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2040, Scope 3 including suppliers by 2050

2020

Interim emissions reduction target 50% absolute Scope 1, 2, 3(6) by 2030

Interim target baseline year 1,196,305

Most recent interim target progress 1,123,619

Interim target goals 598,153

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? 1.5C (no details shared)

Does the company use multiple scenarios? 1.5C (no details shared)

Physical risks Extreme weather and changes to global climate patterns may impact sourcing of food and food ingredients, and impose increased operational costs.

Policy & legal risks None found

Technology risks None found

Market risks None found

Reputation risks Failure to satisfy stakeholders if climate objectives are not met

Climate metrics used to assess compensation Part of 10% tied to ESG for short-term incentive payments, which includes progress to net zero by 2040

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? No (on-going)

Does the company have a Net Zero commitment? Yes

Net zero target N/A

N/A

Interim emissions reduction target Carbon neutral operations

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? IEA SDS

Does the company use multiple scenarios? SSP1-2.6; SSP5-8.5; IEA SDS

Physical risks Extreme weather and gradual shifts in climate may lead to recurring production delays, cessation of operations, increased operating costs, and project abandonment

Policy & legal risks Increased expenditures and costs due to carbon pricing and other existing or developing regulations. Enhanced reporting obligations may also impose additional compliance costs and increase exposure to climate-related litigation.

Technology risks None found

Market risks Changing customer behaviour and reduced demand for products as a result of the energy transition

Reputation risks Stigmatization of sector, shifts in consumer preference, increased stakeholder concern of environmental performance

Climate metrics used to assess compensation 5% (10% of 50% of corporate goals) for ESG for incentive compensation

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Net carbon neutral by 2030

2019

Interim emissions reduction target 46% Scope 1 & 2, 3(6, 7) absolute by 2030; 75% Scope 3 (1, 2, 11) emissions intensity by 2030

Interim target baseline year Absolute: 322,776 Intensity: 275

Most recent interim target progress Absolute: 231,332 Intensity: 273

Interim target goals Absolute: 174,299.04 Intensity: 68.75

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks None found

Policy & legal risks Increased and/or uncertain carbon prices, including the indirect impact of carbon costs

Technology risks None found

Market risks Price and supply shocks in the energy and commodities markets increase cost of operations

Reputation risks Current and pending greenhouse gas regulations or policies may increase compliance and abatement costs, increase abandonment and reclamation obligations, impact decommissioning timelines, and lengthen project evaluation and implementation times. Failure of policy to enable or assist in the development and deployment of CCS. Changes to Canada's Impact Assessment Act could establish legally binding policies that could adversely impact the company's ability to advance new oil sands projects.

Climate metrics used to assess compensation 10% under Social Capitalism Index under corporate scorecard (80%), which includes greenhous gas reductions for bonus award and executive performance share units

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Deloitte LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2019

Interim emissions reduction target Carbon neutral by 2025; 50% absolute Scope 1, 2, 3(5, 6) by 2030

Interim target baseline year 46,237

Most recent interim target progress 35,638

Interim target goals 23,119

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Bank of Canada and OSFI pilot project

Physical risks Increased frequency and intensity of extreme weather events could increase costs and further impact operations

Policy & legal risks Climate-related litigation could increase, with implications for liability coverage

Technology risks None found

Market risks Some sectors could experience contraction of market demand; decline in the valuation of certain assets held that are vulnerable to transition risks

Reputation risks Increased greenwashing concerns; failure to meet climate commitments

Climate metrics used to assess compensation Part of 25% weight for short-term incentive payments, climate targets included within personal goals

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2021

Interim emissions reduction target 30% absolute Scope 1 and Scope 2 emissions by 2030

Interim target baseline year 1,183,903

Most recent interim target progress 1,183,903

Interim target goals 828,732

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes SSP1-1.9

Does the company use multiple scenarios? Net Zero 2050 (SSP1-1.9); SSP4-3.4; SSP3-4.5; SSP5-8.6

Physical risks Increased weather events contribute to infrastructure damage, increased insurance cost, reduced production, damage to supply chains and local communities. Gradual temperature rise also decreases time available for northern operations and leads to increased permafrost degradation and increased restrictions on employee productivity.

Policy & legal risks Increased costs associated with carbon pricing, and exposure to climate-related litigation

Technology risks Increased costs due to high fuel dependency, reduced competitiveness against peers in other regions

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation 10% of corporate performance score factor in broader ESG category; includes greenhous gas emissions as metric

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Disruption of internal operations or the operations of clients impact employee health and safety and increase insurance and other operating costs

Policy & legal risks Not specified

Technology risks Not specified

Market risks Not specified

Reputation risks Failure to meet climate targets and level of disclosure

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations and financed) by 2050

2019

Interim emissions reduction target 25% absolute Scope 1, 2, 3 (5, 6) by 2025; Oil and gas: 31% emissions intensity Scope 1, 2, 3 2019 baseline year by 2030; Real estate: 50% emissions intensity from 2019 baseline Scope 1 and 2 by 2030; Power generation: 33% emissions intensity Scope 1 from 2019 baseline by 2030

Interim target baseline year 20,562

Most recent interim target progress 17,867

Interim target goals 15,422

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Orderly transition - Net zero 2050 (1.4C); Disorderly transition - Divergent net zero (1.4C); Hot house world - Current policies (3.0C)

Physical risks Impact of climate events on capital assets, employees, and third parties affecting business continuity

Policy & legal risks Carbon pricing likely leads to higher energy costs

Technology risks None found

Market risks Commodity price volatility; decreased repayment capacity or value of asset; fluctuations in the demand for products and services in carbon-intensive sectors

Reputation risks Negative perception from public in terms of how the Bank manages climate risks related to activities; impact of negative perceptions related to financing certain industries

Climate metrics used to assess compensation ESG priorities can influence STI between 95% and 105%; greenhous gas emissions metric included

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2019

Interim emissions reduction target 50% absolute Scope 1, 2; Scope 3 (1) emissions intensity by 50% per metric ton of food and per franchise restaurant by 2030

Interim target baseline year Scope 1, 2: 60,804; Emissions intensity: 5.17

Most recent interim target progress Scope 1, 2: 63,104; Emissions intensity: N/A

Interim target goals Scope 1, 2: 30,402; Emissions intensity: 2.585

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Increased extreme weather events in general negatively impact operations. Profitability will depend on ability to anticipate and react to changes in food, commodity, and supply costs. Markets for beef and chicken are subject to significant price fluctuations due to seasonal shifts.

Policy & legal risks Regulation imposing additional costs on environmental compliance and increasing pressure to deepen climate commitments

Technology risks None found

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? No

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2019

Interim emissions reduction target 50% absolute Scope 1 and 2 by 2030

Interim target baseline year 156,203

Most recent interim target progress 131,322

Interim target goals 78,102

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? Plan to perform a 1.5C/ well below 2C scenario and a stressed scenario

Physical risks Increased severity and frequency of extreme weather events can cause damage to network cell towers, flood power stations, cause blackouts, and disrupt operations and business. Increased average temperatures and precipitation can also impact wireless connectivity performance and damage critical infrastructure.

Policy & legal risks Carbon pricing increases operating costs

Technology risks Market expectations for low-carbon technologies

Market risks Shifts in energy supply and energy demand

Reputation risks Increased stakeholder perception for failing to take climate action and offer low-carbon products could negatively impact stakeholder and customer relationships, and reduce revenues

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2020

Interim emissions reduction target Net zero Scope 2 by 2025, Net zero Scope 3 by 2050; Carbon intensity of Scope 1 & 2 by 30% by 2030

Interim target baseline year Carbon intensity: 0.08

Most recent interim target progress Carbon intensity: 0.09

Interim target goals Carbon intensity: 0.056

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? IEA STEPS; IEA SDS; IEA NZE

Physical risks Changes in water availability and increased severity and frequency of extreme weather events can impact ocean transportation and shipping facilities, disrupt operations.

Policy & legal risks Increased impact of costs from carbon pricing and other regulations such as the Clean Fuel Standard, and increased exposure to climate-related litigation

Technology risks Displacement of demand for products; ability to develop and deploy lower-carbon technologies

Market risks Shifts in the demand for certain commodities

Reputation risks Poor performance could lead to public and regulatory opposition to projects

Climate metrics used to assess compensation At least 5% in short-term incentive payments for climate change and sustainability; greenhous gas emissions; 20% weight in sustainability progress index linked to long-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1 by 2050

2019

Interim emissions reduction target 50% absolute Scope 1 by 2030

Interim target baseline year 11,925,000

Most recent interim target progress 9,742,000

Interim target goals 5,962,500

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Global net-zero scenario (1.5C); low-carbon scenario (1.5C); 2C scenario; high-carbon scenario (2.7-3.7C)

Physical risks Operational risks to utilities

Policy & legal risks Risk of inability to keep pace with regulatory requirements without support

Technology risks Ability to develop and deploy lower-carbon technologies; concerns around the timing of technologies that must deploy and operate at scale; timeline and design risks

Market risks Customer demand for clean, renewable energy will likely increase along with decreases in conventional fossil fuels; potential risk of stranded assets

Reputation risks Non-compliance with regulations increasing negative stakeholder perception; customer affordability issues will arise due to costs associated with the delivery of cleaner energy; higher weather outages increasing customer criticism in relation to reliability

Climate metrics used to assess compensation Part of 40% weigh under corporate performance for short-term incentive payments; three-year reduction in corporate-wide Scope 1 emissions to 75% by 2035 for 10% weighing for LTI

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? No; Internal assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2, 3 (operations) by 2050

2018

Interim emissions reduction target 50% Scope 1 & 2 absolute by 2030; carbon neutral scope 2 and 3 operations only

Interim target baseline year 25.93

Most recent interim target progress 32.03

Interim target goals 12.97

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? BAU scenario/IEA CPS (4.5C); IPCC SSP-8.5; IPCC RCP-8.5; IEA NZE2050 (1.5C); IPCC SSP1-1.9; IPCC RCP1.9

Physical risks Increased severity and frequency of extreme weather events impair ability to operate in mines, disrupt operations, and increase costs

Policy & legal risks Increased costs from carbon pricing, and increased exposure to climate-related litigation as a result of the failure to adhere to more stringent environmental regulations and stricter reporting standards

Technology risks Delay in the implementation of lower-carbon technologies at mining sites

Market risks Commodity price volatility; increased pricing in of climate resilience in company valuation

Reputation risks Stigmatization of sector; increased stakeholder concern

Climate metrics used to assess compensation 15% weight in corporate performance score; no specific metrics (qualitative only)

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Deloitte LLP Limited assurance

Does the company have a Net Zero commitment? No

Net zero target N/A

2019

Interim emissions reduction target 45% Scope 1, 2 emissions intensity by 2030

Interim target baseline year 7.70

Most recent interim target progress 4.90

Interim target goals 4.24

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? N/A

Physical risks Risks of stores being impacted by extreme weather

Policy & legal risks Not specified

Technology risks None found

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Yes (no details specified)

Does the company have a Net Zero commitment? Interim only

Net zero target N/A

2019

Interim emissions reduction target 30% emissions intensity by 2030

Interim target baseline year 0.00

Most recent interim target progress 0.00379

Interim target goals 0.00269

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? IEA STEPS; IEA SDS

Physical risks Extreme weather events can disrupt operations, lower revenues, and impact pipeline safety. By contrast, colder weather may increase the demand for natural gas.

Policy & legal risks Changes to environmental regulations such as carbon pricing and the Clean Fuel Standard can result in crude oil and natural gas production becoming uneconomical. Increased litigation risks can also occur due to increased stringency of regulations.

Technology risks Costs associated with investing in, implementing, and deploying technologies to reduce emissions; risk of changes in customer demand due to the cost-effectiveness of renewable energy

Market risks Changing consumer preferences, new technologies; lower global demand for crude oil and natural gas

Reputation risks Stigmatization of industry; delays in obtaining regulatory approvals; divestment concerns; reduced attraction of investor base

Climate metrics used to assess compensation Sustainability 10% weight in short-term incentive payments; greenhous gas intensity targets and supplier diversity spent targets

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Indirectly

Net zero target N/A

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? N/A

Does the company provide a scenario aligned with a 1.5 degree pathway? N/A

Does the company use multiple scenarios? N/A

Physical risks N/A

Policy & legal risks N/A

Technology risks N/A

Market risks N/A

Reputation risks N/A

Climate metrics used to assess compensation N/A

Is executive compensation linked to climate-related metrics? N/A

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? N/A

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2020

Interim emissions reduction target Reduce emissions across 1/3 of AUM by 2030 from a 2020 baseline

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? N/A

Physical risks N/A

Policy & legal risks N/A

Technology risks N/A

Market risks N/A

Reputation risks N/A

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? N/A

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2018

Interim emissions reduction target 30% absolute Scope 1 & 2 by 2030

Interim target baseline year 332,173

Most recent interim target progress 305,129

Interim target goals 232,521

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? High warming scenario (2.7C-3.7C); low warming scenario (2C); intermediate scenario (Unknown ITR)

Physical risks Facility exposure to severe weather conditions and natural disasters. No insurance on transmission and distribution infrastructure; repair costs; adverse effects on grid resilience.

Policy & legal risks Increased costs due to carbon pricing, changes to Environmental Assessment Act approvals can result in the failure to recover investment in a project that is forfeited. General risks associated with the increased exposure to climate-related litigation.

Technology risks Rapid and dramatic technological change, increasing innovation, could have a material adverse effect including reduction in revenues.

Market risks Meeting electrification targets will also require the enablement of investments in grid infrastructure

Reputation risks None found

Climate metrics used to assess compensation Short-term incentive payments includes ESG Indicators in Safety, System Reliability and Customer measures, and individual scorecards, but no specific emissions metrics linked to short-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? GHD Reasonable assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2040

2018

Interim emissions reduction target 60% absolute Scope 1, 2 emissions reductions by 2030; 30% absolute Scope 3 (1, 2, 3, 5, 6, 7) by 2030

Interim target baseline year 519,639

Most recent interim target progress 394,557

Interim target goals 340,797

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? NGFS Net Zero; NGFS Current Policies; NGFS Delayed Transition; RCP 8.5; RCP 4.5

Physical risks Disrupt operations and exacerbate acute risks

Policy & legal risks Increased operating costs due to carbon pricing, and increased exposure to climate-related litigation due to the failure to comply with more stringent environmental regulations

Technology risks New technologies in a low-carbon economy could disrupt business model and decrease demand

Market risks Reduced demand for the services of traditional energy companies

Reputation risks Projects not aligned with a low-carbon transition could be negatively perceived; inability to meet sustainability commitments

Climate metrics used to assess compensation Short-term incentive payments performance measure based on clean revenue growth

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Apex Companies, LLC. Limited assurance

Does the company have a Net Zero commitment? Indirectly

Net zero target N/A

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? N/A

Physical risks N/A

Policy & legal risks N/A

Technology risks N/A

Market risks N/A

Reputation risks N/A

Climate metrics used to assess compensation N/A

Is executive compensation linked to climate-related metrics? N/A

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? N/A

Does the company have a Net Zero commitment? No

Net zero target N/A

2020

Interim emissions reduction target 30% absolute Scope 1 & 2 by 2025, 50% absolute and intensity of Scope 1 and 2 by 2030

Interim target baseline year 4,252,000

Most recent interim target progress 4,440,000

Interim target goals 2,976,400

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? IEA STEPS; IEA SDS; IEA NZE

Physical risks Extreme weather events can lead to disruptions to mining activities, increase risk of failing of tailings storage facilities, supply chain risks, and power supply risks. Longer-term impacts of climate change can impact local communities and increase health and safety concerns.

Policy & legal risks Carbon pricing costs; more stringent regulations

Technology risks Increased costs to deploy lower carbon technologies; risk of success in the deployment of lower carbon technologies

Market risks Shift in energy policies and the impact on the price of electricity; changing customer behaviours; increased cost of input materials

Reputation risks Sector stigmatization; increased pressure to decarbonize

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? No

Net zero target N/A

2018; 2020 methane

Interim emissions reduction target 25% Scope 1 emissions intensity by 2027; 55% methane emissions intensity by 2027 (2020 baseline)

Interim target baseline year Emissions intensity: 0.0185

Most recent interim target progress Emissions intensity: 0.0161

Interim target goals Emissions intensity: 0.013875

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? IEA STEP; IEA APS; IEA SDS

Physical risks Extreme weather and long-term changes in weather can impact operations and transportation capabilities

Policy & legal risks Regulation imposing additional costs on environmental compliance and increased cost of production through carbon pricing

Technology risks Lack of technological advancement, scalability, and cost effectiveness to assist in the reduction of emissions

Market risks Decreased market demand due to political factors, lack of pipeline access, discrepancies in carbon policies and pricing in different jurisdictions, and substitution from natural gas to alternatives

Reputation risks Potential for political and regulatory rhetoric to negatively impact the reputation of Canada’s energy sector, making it difficult to operate and access capital

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? EY LLP Limited assurance

Does the company have a Net Zero commitment? No

Net zero target Carbon neutrality by 2030

N/A

Interim emissions reduction target Carbon neutral by 2030

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? Yes

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Extreme weather can negative impact operations, along with water scarcity

Policy & legal risks Fuel Efficiency Regulations; phase-out of new ICE vehicles; vehicle restrictions in urban centres can impact costs

Technology risks Increased demand for ZLEVs

Market risks Increased volatility in commodity prices

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Yes (no details specified)

Does the company have a Net Zero commitment? No

Net zero target Aim to achieve net zero, no specific timeline yet.

2015

Interim emissions reduction target 30% Scope 1, 2 reduction by 2030

Interim target baseline year 515,000

Most recent interim target progress 290,747

Interim target goals 360,500

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? IEA STEPS; IPCC RCP4.5; IPCC RCP8.5

Physical risks Extreme weather can negative impact operations, and damage buried infrastructure. Increased heat can stress working conditions and cooling systems

Policy & legal risks More stringent regulations for large emitters could impose higher operating costs; Clean Electricity Regulations likely to increase indirect cost as electricity prices rise to support grid upgrades; Clean Fuel Standard increases indirect cost from suppliers; risk of nuclear exclusion from taxonomies

Technology risks None found

Market risks None found

Reputation risks Lack of sufficient transparency and climate action could result in reputational damage

Climate metrics used to assess compensation Clean environment weighed 15% under corporate performance multiplier as part of STI. ESG considerations are also weighed under long term incentive payments under performance weighing. Currently, meeting this consists only of developing a low-carbon transition plan.

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? PWC Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2020

Interim emissions reduction target Reduce emissions across 1/3 of AUM by 2030 from a 2020 baseline

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? N/A

Physical risks N/A

Policy & legal risks N/A

Technology risks N/A

Market risks N/A

Reputation risks N/A

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? No

Net zero target N/A

2020

Interim emissions reduction target 37.5% absolute reduction Scope 1, 2 by 2035

Interim target baseline year 288,633

Most recent interim target progress 281,417

Interim target goals 180,396

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Rise in temperatures can increase cooling costs and overall operating costs, and negatively impact operations

Policy & legal risks Clean Fuel Standard; existing regulations on refrigerants in Quebec

Technology risks Technological advancements in the energy sector present opportunities

Market risks None found

Reputation risks Risk in failure to act with integrity and maintain activities in climate action

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 , 3 (operations) by 2040

2022

Interim emissions reduction target 50% absolute reduction Scope 1, 2, 3 by 2030

Interim target baseline year 48,968

Most recent interim target progress 48,968

Interim target goals 24,484

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Extreme weather can negatively impact operations

Policy & legal risks Increased costs of regulatory compliance

Technology risks None found

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 , 3 (operations) by 2040

2005

Interim emissions reduction target 55% CO2 emissions by 2025

Interim target baseline year 25,048,100

Most recent interim target progress 14,676,459

Interim target goals 11,271,645

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Extreme weather and precipitation changes can lead to negative impacts on operations, decrease availability of hydroelectricity generation, and increase costs against rising sea levels

Policy & legal risks Regulatory requirements increase operating costs to address emissions contraints; carbon pricing; utility regulator asset cost recovery mechanisms

Technology risks Risk of stranded assets or early retirement of exsting assets; large capital investments required for renewable deployment

Market risks Increased customer demand for cleaner energy reduces demand for existing supply; challenges to procuring insurance

Reputation risks Increased stakeholder concern with carbon-intensive business; reduced access to capital

Climate metrics used to assess compensation 10% weight of corporate scorecard; no climate metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? No

Net zero target N/A

2020

Interim emissions reduction target 20% CO2 intensity; 10% energy intensity by 2025

Interim target baseline year Tonne CO2e/tonne of product: 0.2221; GJ/tonne of product: 3.00

Most recent interim target progress Tonne CO2e/tonne of product: 0.2048 GJ/tonne of product: 2.95

Interim target goals Tonne CO2e/tonne of product: 0.17768; GJ/tonne of product: 2.7

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? IEA STEPS; IEA CPS; IEA NZE; RCP 1.9; RCP 4.5; RCP 8.5

Physical risks Extreme weather events can negatively impact operations, increase the price and availability of raw materials, and influence operations from upstream suppliers

Policy & legal risks Regulation imposing additional costs on environmental compliance and exposure to climate-related litigation; and increased cost of production through carbon pricing

Technology risks Exploring and developing alternatives to milk

Market risks Exploration of alternative products such as plant-based instead of animal milk

Reputation risks Failure to meet climate targets

Climate metrics used to assess compensation 15% weight for CO2 emission intensity targets under long-term incentive payments

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? EY LLP Limited Assurance

Does the company have a Net Zero commitment? No

Net zero target N/A

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Regulation imposing additional costs on environmental compliance and increased cost of production through carbon pricing

Policy & legal risks None found

Technology risks None found

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Apex Companies LLC Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target N/A

2020

Interim emissions reduction target 40% Scope 1 & 2, 3 (14) by 2030

Interim target baseline year 216,855

Most recent interim target progress 211,320

Interim target goals 130,113

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Extreme weather can negatively impact operations

Policy & legal risks None found

Technology risks None found

Market risks Level of competition, decrease/shifts in consumer attitudes, demand for lower-carbon products/services

Reputation risks The company recognizes that proper stewardship of environmental, social, and governance (“ESG”) matters that are relevant to its business contributes positively to the company’s reputation

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? DNV Business Assurance USA, Inc. Limited assurance

Does the company have a Net Zero commitment? No

Net zero target N/A

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? RCP 8.5; 2C scenario

Physical risks Business disruption, flight safety, supply chain disruption

Policy & legal risks Carbon pricing, building codes, increase in local taxes to maintain public service and infrastructure

Technology risks Reduced demand; increased cost to transition to lower-emission technologies; increased costs to upgrate aircraft fleet

Market risks Increased insurance premiums, insufficient energy and raw resources, higher cost of goods and services

Reputation risks Public procurement tied to net zero targets, rising customer expectation for climate action

Climate metrics used to assess compensation Part of 25% weight in short-term incentive payments for ESG-related issues linked to individual performance

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? No

Net zero target N/A

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks N/A

Policy & legal risks N/A

Technology risks N/A

Market risks N/A

Reputation risks N/A

Climate metrics used to assess compensation Unknown

Is executive compensation linked to climate-related metrics? Unknown

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Unknown

Does the company have a Net Zero commitment? No

Net zero target N/A

N/A

Interim emissions reduction target N/A

Interim target baseline year N/A

Most recent interim target progress N/A

Interim target goals N/A

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? None found

Physical risks Increased frequency and severity of extreme weather can raise capital expenditures, repairs, and maintenance costs, interupt operations, raise insurance premiums and operation costs, and endanger the health and safety of residents

Policy & legal risks Increased costs associated with carbon pricing; risks of regulatory uncertainty in emissions reduction regulations, and changes to building codes. Risks from non-compliance leading to increased exposure to climate-related litigation

Technology risks Transition to renewable sources and lower-carbon technologies will increase costs

Market risks Changes in commodity prices and prices of procured goods and services, loss of asset market

Reputation risks Greater scrutiny from investors and stakeholders on climate action

Climate metrics used to assess compensation Part of 25% weight under personal goals for short-term incentive payments; net zero target

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2017

Interim emissions reduction target 1 Mt by 2023

Interim target baseline year 3,220,317

Most recent interim target progress 2,364,336

Interim target goals 2,220,317

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? IEA SDS; IEA ETP; IEA STEPS

Physical risks Extreme weather can negatively impact operations

Policy & legal risks Regulation imposing additional costs on environmental compliance and increased cost of production through carbon pricing

Technology risks New and emerging technologies can impact grid efficiency, energy prices, and investment economics; reduce customer consumption; and provide customers with alternatives for meeting their energy and water needs through new sources rather than traditional regulated utility providers

Market risks Level of competition, decrease/shifts in consumer attitudes, demand for lower-carbon products/services

Reputation risks Lack of sufficient transparency and action on climate issues could result in reputational damage with local stakeholders and the investment community

Climate metrics used to assess compensation Short-term incentive payments weighed on 1400 MW renewable energy metric worth 5 pts out of 20 in sustainability metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? Yes

Net zero target Scope 1, 2 by 2050

2021

Interim emissions reduction target 30% greenhouse gas emissions intensity by 2030

Interim target baseline year 808.0

Most recent interim target progress 740.0

Interim target goals 565.6

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? None found

Does the company use multiple scenarios? Low CC - Orderly; High CC - Orderly; Low CC - Disorderly; High CC - Disorderly

Physical risks Extreme weather could curtail or close mining production, and prolonged periods of inadequate rainfall may impact time available for operations

Policy & legal risks More stringent regulations on emissions and energy efficiency add compliance costs.

Technology risks Risk of older, higher-emitting technologies versus new and future technologies

Market risks None found

Reputation risks None found

Climate metrics used to assess compensation Part of 25% weight in short-term incentive payments of ESG; setting climate targets only, no explicit greenhous gas emissions reductions metrics used

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? KPMG LLP Limited assurance

Does the company have a Net Zero commitment? No

Net zero target N/A

2018

Interim emissions reduction target 30% absolute Scope 1, 2 by 2030

Interim target baseline year 442,741

Most recent interim target progress 372,640

Interim target goals 309,919

Does the company purchase offsets to meet climate targets? No

Does the company provide a scenario aligned with a 1.5 degree pathway? Yes

Does the company use multiple scenarios? Failed Transition (SSP3-7.0 RCP6); Stated policies (IEA STEPS; SSP2-4.5 RCP 4.5); SDS (SSP1-2.6, RCP 2.6); NZE 2050 (SSP1-1.9)

Physical risks Extreme weather events and changing climate conditions can impact and disrupt the availability and cost of raw material, and the ability to distribute products

Policy & legal risks Carbon price, compliance, insurance premiums

Technology risks Increased capital investments to replace existing assets with lower emission technologies

Market risks Increased commodity prices; increased costs of procuring less sustainable raw materials

Reputation risks Increased customer preference for more sustainable apparel

Climate metrics used to assess compensation Short-term incentive payments 8% tied to 'Engage and invest in our people and create a sustainable future' (20% out of 40% or total short-term incentive payments); includes greenhous gas emissions reduction metrics

Is executive compensation linked to climate-related metrics? Yes

Are there any third-party auditing mechanisms in place to review climate targets and disclosure data? Yes (no details specified)