Provide a detailed explanation of the processes utilized to identify and assess material climate-related impacts, risks, and opportunities. Specifically, describe how climate-related scenario analysis, incorporating a variety of climate scenarios, has been employed to inform the identification and assessment of physical risks and transition risks and opportunities over the short, medium, and long term, as required under ESRS 2 IRO-1, paragraphs 20 (b) and 20 (c).

Question

Accepted Answer

For the climate risk assessment and the development of adaptation strategies, the scenarios employed for URW’s climate risk assessment are: An intermediate GHG emissions scenario: SSP2-4.5, and A high GHG emissions scenario: SSP5-8.5. Considering the current commitments for GHG emissions reductions, the scenarios SSP1-2.6 and SSP1-1.9 are considered as not relevant to build adaptation strategies in the context of an effective ERM framework.

Unibail-Rodamco-Westfield

ESRS disclosure: E1.IRO-1_08

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