Supplemental reporting
Table of Contents
Maintain a foundation of trust
Obsessed with your success
Manage our impact responsibly
Overview
Appendices
Management oversight Our Executive team is responsible to progress our strategy, including our approach to sustainability and climate change, with development and execution supported by the following committees and functions:
Established in 2022, our ESG Steering Committee is chaired by our CEO and includes all members of our Executive team. The committee provides oversight of the integration of climate factors into our strategy and operations as part of the development of our approach to sustainability.
ESG Steering Committee
Our Executive Risk Committee is chaired by our Chief Risk Officer (CRO) and includes all members of our Executive team. The committee provides oversight of our developing approach to identify, assess, monitor and report on climate risks.
Executive Risk Committee
Reporting to the CFO, our Sustainability team engages with internal and external stakeholders and works closely with the GRM function to establish appropriate cross-functional working groups tasked with the development of various components of our approach to climate change. The team provides regular updates to the ESG Steering Committee and the Board of Directors on our developing approach to climate change, evolving and emerging climate- related trends, and developments in regulatory requirements and reporting frameworks. As the second line of defence, the GRM function provides independent oversight of risk- taking decisions, independent assessment of risk and effective challenge to the business. Our GRM team is responsible for the ongoing development of policies and processes to identify, assess, monitor, and report on social and environmental risks, including climate-related physical and transition risks. We have initiated several cross-functional working groups to support the development of specific components of our approach to climate change. In 2022, the working groups primarily focused on the estimation of our Scope 1 and 2 GHG emissions, development of a process to estimate Scope 3 emissions within our lending portfolio and the upcoming implementation of regulatory requirements related to climate change. As we move forward, our working groups will support the development of our climate strategy, risk management practices, and relevant metrics and targets.
Sustainability team
GRM team
Cross-functional working groups
Staying informed To remain well-informed on climate issues and emerging trends, our Sustainability and GRM teams provide representation on industry groups and local climate-related programs. Our CFO is a member of the Sustainable Finance Action Council, which is responsible to make recommendations on critical market infrastructure needed to attract and scale sustainable finance in Canada through disclosure of climate risks and opportunities, better access to climate data and analytics and a standardized climate risk taxonomy within the context of Canada’s capital markets.
59 2022 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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