Provide a detailed explanation of your company's capacity to modify or adapt its strategy and business model in response to climate change over the short, medium, and long term. This should include an assessment of your ability to maintain access to finance at a reasonable cost of capital, the potential to redeploy, upgrade, or decommission existing assets, the capability to shift your products and services portfolio, and the initiatives to reskill your workforce. This disclosure should align with the resilience analysis results as required under paragraph 19 (c) and should address the anticipated financial effects from significant physical and transition risks, as well as potential climate-related opportunities, in accordance with Disclosure Requirement E1-9 and ESRS 2 SBM-3.

Question

Accepted Answer

The concept of climate resilience involves organisations developing adaptive capacity to respond to climate change to better manage the associated risks and seize opportunities, including the ability to respond to transition risks and physical risks. Opportunities include improving efficiency, designing new production processes and developing new products. Opportunities related to resilience may be especially relevant for organisations with long-lived fixed assets or extensive supply or distribution networks; those that depend critically on utility and infrastructure networks or natural resources in their value chain; and those that may require longer-term financing and investment.

Unibail-Rodamco-Westfield

ESRS disclosure: E1.SBM-3_07

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