Has the company evaluated the extent to which its assets and business activities are exposed and sensitive to identified climate-related hazards? This evaluation should consider the likelihood, magnitude, and duration of these hazards, as well as the geospatial coordinates specific to the company's locations and supply chains, in accordance with Disclosure Requirement E1-9 and ESRS 2 IRO-1. Additionally, clarify whether the anticipated financial effects from material physical and transition risks, as well as potential climate-related opportunities, have been assessed, noting that quantification of financial effects from opportunities is not mandatory if it does not meet the qualitative characteristics of useful information as outlined in ESRS 1 Appendix B.

Question

Accepted Answer

A screening of the climate-related hazards was performed to identify the ones that may affect the business, based on the type of activities, equipment and materials, and the geographical footprint of the portfolio. Risk engineers and industry experts were consulted to perform the screening. This analysis was done considering the climate-related hazards indicated by the EU Taxonomy for sustainable activities and the CSRD. For the climate-related perils considered as material, experts identified the most representative climate indicators from its proprietary database (+130 indicators) which are sourced from open sources and paying models such as JBA, WRI and IAASA. Climate indicators were retrieved for each asset, based on their location. Up to 10 climate models for each indicator were used by expert scientists to evaluate the evolution of such values due to climate change, according to different scenarios.

Unibail-Rodamco-Westfield

ESRS disclosure: E1.IRO-1_06

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