Compliance with TCFD recommendations
| Recommended disclosures | Sections of the annual report | |
|---|---|---|
| Corporate governance Disclose the organisation’s governance around climate-related risks and opportunities. | а) Describe the board’s oversight of climate-related risks and opportunities. | |
| b) Describe the management’s role in assessing and managing climate-related risks and opportunities. | ||
| Strategy Disclose the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy, and financial planning where such information is material. | a) Describe the climate-related risks and opportunities the organisation has identified over the short, medium, and long term. | |
| b) Describe the impact of climate-related risks and opportunities on the organisation’s businesses, strategy, and financial planning. | ||
| c) Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. | The scenarios have not been developed so far. In 2022, the Company signed a memorandum with the EBRD under which the EBRD will develop a stress-testing model for KMG accounting for different climate scenarios (RCP2.6, RCP4.5 and RCP8.5) | |
| Risk management Disclose how the organisation identifies, assesses, and manages climate-related risks. | a) Describe the organisation’s processes for identifying and assessing climate-related risks. | |
| b) Describe the organisation’s processes for managing climate-related risks. | ||
| c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organisation’s overall risk management. | ||
| Metrics and targets Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material. | a) Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk management process. |
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| b) Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas (GHG) emissions and the related risks. | ||
| c) Describe the targets used by the organisation to manage climate-related risks and opportunities and actual performance against targets. | ||