Provide an explanation detailing how the climate scenarios utilized align with the critical climate-related assumptions outlined in the financial statements, as per Disclosure Requirement E1-9 concerning anticipated financial effects from material physical and transition risks and potential climate-related opportunities. Note that quantification of financial effects from opportunities is not mandatory if it does not adhere to the qualitative characteristics of useful information as specified in ESRS 1 Appendix B.

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_16

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