Ferrari
ESRS disclosure: ESRS E1 \ DR E1-1 \ Paragraph 16 d
Tags Tree
- ESRS ESRS 2ESRS 2 Framework
- ESRS E1Climate Remuneration Disclosure
- ESRS E2Pollution Management
- ESRS E3Water & Marine Resources
- ESRS E4Material Sites Disclosure
- ESRS E5Resource Use & Circular Economy
- ESRS S1Workforce Impact Disclosure
- ESRS S2Value Chain Workers Scope
- ESRS S3Affected Communities Disclosure
- ESRS S4Consumer Impact Disclosure
- ESRS G1Governance Disclosure
- Provide a qualitative assessment of the potential locked-in greenhouse gas (GHG) emissions from your company's key assets and products. Explain whether and how these emissions could jeopardize the achievement of your GHG emission reduction targets and contribute to transition risk. Additionally, if applicable, describe your company's plans to manage its GHG-intensive and energy-intensive assets and products.
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Question Id: E1-1_07
We are aware that the transition to a climate-neutral economy could be slowed down by locked-in GHG emissions. Regarding Scope 1 and 2, certain processes cannot be converted to electricity yet. For Scope 3 downstream, the locked-in emissions depend on how the market will evolve in the coming years, in particular on the share of BEVs (Battery Electric Vehicle). However, it is important to point out that the higher the share of BEVs, the harder it is to reach the target set for Scope 3 upstream. We are developing plans to reduce emissions from downstream ICEs, and in particular, we are evaluating various technologies, including alternative fuels.
Report Date: 4Q2024Relevance: 80%
- Does the undertaking's process for identifying and assessing material climate-related impacts, risks, and opportunities include an explanation of whether and how the identification of climate-related hazards and the assessment of exposure and sensitivity are informed by high emissions climate scenarios, such as those based on IPCC SSP5-8.5, relevant regional climate projections, or NGFS climate scenarios with high physical risk like "Hot house world" or "Too little, too late"?
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Question Id: E1.IRO-1_07
More specifically, for physical risks, the Representative Concentration Pathways (RCP) correspond to defined emissions and global warming levels. Each RCP scenario is modeled by the scientific community in terms of physical impacts. In particular, we have considered the RCP 8.5, RCP 4.5 and RCP 2.6 scenarios:
- The RCP8.5 scenario is the most extreme of the business-as-usual scenarios. It forecasts an increase above 4°C by 2100. This scenario can translate into reality if the world adopts no mitigation policy. High economic and population growth rates (SSP5) favor this scenario. This scenario triggers most of the climate “points of non-return” and hence, its consequences are difficult to model;
- The RCP4.5 scenario is the most probable given current pledges by countries. It forecasts an increase in temperature between 2 to 3°C by the end of the century, well above the limits of Paris 2015 and Kyoto Protocol. Pledges as of October 2022 lead to an increase of 2.5°C by 2100, as calculated by the United Nations; and
- The RCP2.6 scenario is a Paris/Kyoto one and foresees emissions approximately at the same levels of today (below 1.5°C by 2100 ).
Each climate scenario is characterized by different levels of greenhouse gas concentrations. Specifically, we considered a pessimistic scenario (RCP 8.5), an intermediate scenario (RCP 4.5) and a more optimistic scenario (RCP 2.6) to assess the various situations we might face.
Report Date: 4Q2024Relevance: 85%