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TCFD (Task Force for Climate related Disclosure) is a voluntary framework for reporting climate related financial risks. Catena follows TCFD’s recommendations that encourage disclosure of consequent, reliable and clear climate related financial risks and opportunities. The aim is to navigate and support the transition towards a low-carbon economy.
By working with climate related risks, both physical and transitional, we see opportunities to take informed decisions, prepare for coming laws and regulations and increase competitiveness.
During spring 2021 all employees participated in a total of six workshops to identify and evaluate climate related risks and opportunities that Catena’s business is facing. Thereafter activities and solutions were identified to implement long-term strategies that address a changing climate. The analysis was based on two of IPCC’s climate scenarios: SSP5-8.5 and SSP1-2.6 with a time horizon set to the year 2050.
Based on the two scenarios we could state that in scenario 1 most risks identified were of physical nature, whereas in scenario 2 emphasis lay on transitional risks. Regardless of how climate change continues to develop we must prepare ourselves for both types of risks since we most likely we will be caught in a scenario in-between. Read more about IPCC's climate scenarios here.
Below are a few of the risks that were identified to have a high consequence and high probability per scenario – the risks also lead to opportunities
Scenario 1 "Business as usual" Sweden 2050 |
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Risks | Opportunities |
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Scenario 2 "We reach the Paris agreement" Sweden 2050 |
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Risks | Opportunities |
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Sprung from our identified risks and opportunities we have developed a number of concrete activities and routines that are to lead us towards a more resilient organization.
Three overall actions that were initiated with immediate effect:
Parallel to the new activities that resulted from our analysis, Catena works with external monitoring, for increased and up-to-date knowledge. We also participate in networks and pilot projects to support and accelerate innovation.