Longer side-by-side fine-tuning

During the year,  there has been an increased focus on climate-related matters as the landscape evolved with regulatory developments and changes in stakeholder expectations

In addition, we have set the following interim targets: 80% reductions by 2030 and 90% by 2040

Handelsbanken works constantly to minimise the emissions generated by our operations

The projects are certified based on the Gold Standard, a certification endorsed by more than 80 non-governmental organisations (NGOs) that ensures the projects contribute to long-term sustainable development

Climate change has the potential to affect our business in various ways

While these may not be severe in the short term, we believe climate-related risks  are likely to have a medium and long- term impact on our business

The Statement is updated at least annually and is periodically reviewed by the Audit Committee

The Green Economy Transition (GET) approach, initially approved in 2015, covering the period 2016-20, and a second GET approach for 2020-25, approved in July 2020

The EBRD has considerable experience in the application of dedicated metrics for assessing climate-related risks and opportunities at the project level

These are ex-ante estimates of how projects will perform once fully implemented

In particular: • the EBRD’s Environment and Sustainability Department assesses the environmental and social impacts of every project and works with the Bank’s clients to achieve good international standards to reduce environmental risks, and • sector teams in Banking and in particular, Energy Efficiency and Climate Change, consider how to mitigate climate risk by reducing carbon emissions or by adapting to its effects through climateresilient investments

The Policy sets out detailed performance requirements applicable to the Bank’s clients, including in the context of (i) the assessment and management of environmental and social risks and impacts (Performance Requirement 1, or PR1) and (ii) resource efficiency and pollution prevention and control (PR3)