FUTURE PRIORITIES
We are committed to continue to advance our risk management practices related to social and environmental risks. Our current focus is on climate risks and our upcoming priorities include:
• Leveraging insights from the initial heatmap exercise and newly established regulatory data requirements to collect relevant climate risk related data with the aim of establishing climate-related key risk metrics and integrating those metrics into our Enterprise Risk Appetite framework; • Establishing reporting to identify and assess borrowers within industries or geographies that may be subject to elevated or emerging climate risks and develop monitoring capabilities; • Furthering our capabilities to perform climate scenario analysis that incorporates short-, medium- and long-term impacts and plausible scenarios; and, • Continued collaboration with industry working groups to share insights and formulate best practice approaches to climate-related risk management to help us meet the expectations of our regulators.
Refer to the Risk Management section of our climate related disclosures on page 66 for further information on our approach to environmental risks specifically related to climate change, including the results of the initial climate heatmap exercise.
56 2023 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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