GN broadly aligns time horizons for ESG-related risk assessment with that of the Corporate Risk Management (CRM) process, which apply a 1-to-3-year horizon (0 to 1 years for short-term and 2 to 3 years for medium-term). While our short-term time horizon is aligned with that of the ESRS-defined time horizons, the medium- and long-term time horizons deviate slightly. The main reason for this is to align with the existing CRM process. In the context of both climate-related physical and transition risks, the 1-to-3-year horizon is part of the CRM process, whereas longer term climate-related risks are considered only as part of the double materiality process, as well as in conjunction with the scenario analysis, where we have defined a 10-30 year long-term time horizon. From the scenario analysis, we assessed GN’s exposure to climate-related hazards and transition events in our own operations and across the value chain.