INTRODUCTION Part IFRS S2 new requirement Available in Banpu 2023 Climate Change report Available in Banpu 2024 Climate Change report Governance Related skills and training of Governance body No Yes Working & monitoring strategy, policy and process. Especially those relevant to climate-related risks & opportunities No Yes Whether and how related performance metrics are included in remuneration policies, for example climate-related KPI No Yes Strategy Identify industry-based physical and transitional risk Yes Yes Response/plan to respond to risk & opportunity Yes Yes New criteria for current financial effects No Yes New criteria for anticipated financial effects & financial planning No Yes Scenario analysis Yes Yes How & when scenario analysis is carried out No Yes Risk & Opportunity Management Use of climate scenario analysis to inform risk Yes Yes Risk prioritization and monitoring Yes Yes Identify, assess, prioritize opportunities No Yes Integrate opportunity into overall risk management No Yes Metrics & Targets Indicator link to SDGs No Yes Identify metric used to assess climate-related risks and opportunities No Yes Industry-based metrics Yes Yes FROM TCFD TO IFRS S2 OVERVIEW: TCFD & IFRS S2 STATUS: No longer in used (since 1 Jan 2024) STATUS: In use to replace TCFD PURPOSE: • Encourage companies and financial institutions to disclose climate-related risks and opportunities in their financial filings • Voluntary requirement PURPOSE: • Encourage companies to disclose climate-related risks and opportunities • In effective from January 2024 • IFRS S2 is in used in accordance with IFRS S1* • Compulsory VS Voluntary depends on local jurisdiction AUTHORITY: the Financial Stability Board (FSB) AUTHORITY: The International Sustainability Standards Board (ISSB) COUNTRY ADOPTION Plan to adopted • Australia - start 1 Jan 2025 (partially adopt) • China - plan to adopt nationwide by 2027 • Japan - plan to adopt within 31 March 2025 • U.S. - other jurisdictions with related disclosure standards * IFRS S1 - General Requirements for Disclosure of Sustainability-related Financial Information. Source: (S&P global, 2024) IFRS S2 TCFD Climate Change Report 2024 7 Introduction Governance Strategy Risk Management Metrics & Targets Looking Ahead
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