[PDF] climate-change-riskspdf

213670 1 2 3 5 6 16 managing climate change related risks and opportunities are integrated into a multidisciplinary company-wide risk management framework. The Company supports its risks management through the Integrated Risk

Management System (IRMS), which is based on

the ISO 31000 & COSO-WBCSD Enterprise Risk

Management standards. The IRMS enables Argos

the successful execution of its strategy, through following processes: the identificationof possible risk scenarios considering materiality, global trends and company strategic framework; the assessmentof the level of exposure to all risks; the managementthrough action plans including adaptation and continuity plans and the corporate insurance program; the monitoringof effectiveness of action plans, and the reportingto the Board of Directors 7 13

Our Integrated Risk Management System (IRMS)

is aligned with the best practices and based on international standards such as ISO 31000 and

COSO-WBCSD, which are recognized by different

stakeholders and worldwide. Climate change risks and opportunities might impact the achievement of our strategic objectives, and hence they are addressed under the IRMS framework, aligned with the guidelines from relevant standards regarding carbon disclosure and climate change management. Climate change risks are managed at all levels of the company (strategic, tactical and operational), making them a company-wide priority, which is integrated to all processes throughout the organization (see graph below).

Climate change risks are identified and assessed

at a strategic level and periodically reported to the

Audit, Finance and Risk committee, which

supports the decision-making of the Board of

Directors. As these risks can deviate us from our

company's strategy (sustainability and corporate strategies), a climate change risk matrix is built under qualitative and quantitative criteria (see page 4 and 5), and it is reported and updated annually. Level

STRATEGIC

Level

TACTICAL

Level

OPERATIVE

We perform financial assessments of the

impact of climate change risks on the most relevant metrics of the company, in order to estimate the potential deviation from strategic objectives, building our climate change risk matrix (see page 6).

We set the guidelines, objectives and

goals of our climate change adaptation plan (see page 13 and 14) anddevelop standard methodologies for risk assessments and monitoring in the facilities.

We support the facilities in evaluating

their climate change risk exposure and in designing action plans to improve their resilience.

The top management leads the

mitigating actions for the main company-wide physical and transition risks.

Climate-change OKR are included

Regional Vice-Presidents and managers,

and corporate technical teams actions for the main physical and transition risks in countries or regions.

Facility or zone managers and staff lead

the mitigating actions of physical risks, and the ways they can be supported by other actors in the organizations.

At Argos, climate change risk management is a

top-down and bottom-up integrated team effort in which the areas responsible for risk management, environmental, energy 1 2 3 5 6 16 managing climate change related risks and opportunities are integrated into a multidisciplinary company-wide risk management framework. The Company supports its risks management through the Integrated Risk

Management System (IRMS), which is based on

the ISO 31000 & COSO-WBCSD Enterprise Risk

Management standards. The IRMS enables Argos

the successful execution of its strategy, through following processes: the identificationof possible risk scenarios considering materiality, global trends and company strategic framework; the assessmentof the level of exposure to all risks; the managementthrough action plans including adaptation and continuity plans and the corporate insurance program; the monitoringof effectiveness of action plans, and the reportingto the Board of Directors 7 13

Our Integrated Risk Management System (IRMS)

is aligned with the best practices and based on international standards such as ISO 31000 and

COSO-WBCSD, which are recognized by different

stakeholders and worldwide. Climate change risks and opportunities might impact the achievement of our strategic objectives, and hence they are addressed under the IRMS framework, aligned with the guidelines from relevant standards regarding carbon disclosure and climate change management. Climate change risks are managed at all levels of the company (strategic, tactical and operational), making them a company-wide priority, which is integrated to all processes throughout the organization (see graph below).

Climate change risks are identified and assessed

at a strategic level and periodically reported to the

Audit, Finance and Risk committee, which

supports the decision-making of the Board of

Directors. As these risks can deviate us from our

company's strategy (sustainability and corporate strategies), a climate change risk matrix is built under qualitative and quantitative criteria (see page 4 and 5), and it is reported and updated annually. Level

STRATEGIC

Level

TACTICAL

Level

OPERATIVE

We perform financial assessments of the

impact of climate change risks on the most relevant metrics of the company, in order to estimate the potential deviation from strategic objectives, building our climate change risk matrix (see page 6).

We set the guidelines, objectives and

goals of our climate change adaptation plan (see page 13 and 14) anddevelop standard methodologies for risk assessments and monitoring in the facilities.

We support the facilities in evaluating

their climate change risk exposure and in designing action plans to improve their resilience.

The top management leads the

mitigating actions for the main company-wide physical and transition risks.

Climate-change OKR are included

Regional Vice-Presidents and managers,

and corporate technical teams actions for the main physical and transition risks in countries or regions.

Facility or zone managers and staff lead

the mitigating actions of physical risks, and the ways they can be supported by other actors in the organizations.

At Argos, climate change risk management is a

top-down and bottom-up integrated team effort in which the areas responsible for risk management, environmental, energy