Task Force on Climate-related Financial Disclosures

Where to find more information in bp’s 2019 Annual Report

Governance

Disclose the organization’s governance around climate-related issues and opportunities.

a) Describe the board’s oversight of climate-related risks and opportunities.

Climate-related financial disclosures - Governance, page 42.

b) Describe the management’s role in assessing and managing climate-related risks and opportunities.

Climate-related financial disclosures - Governance, page 42.

Strategy

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s business,

strategy and financial planning where such information is material.

a) Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term.

Achieving the Paris goals, page 13 – for a discussion of the different pathways and time horizons considered

RIC framework, page 41 – for an outline of opportunities.

Risk factors, pages 70-71 – description of principal risks.

b) Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy and financial planning.

Risk factors, pages 70-71 – description of principal risks.

c) Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario.

Achieving the Paris goals, page 13.

Our strategy, page 16.

Risk management

Disclose how the organization identifies, assesses and manages climate-related risks.

a) Describe the organization’s processes for identifying and assessing climate-related risks.

Risk management, page 44.
Upstream, page 50.
Downstream, page 56.
 

Other businesses and corporate, page 63.

b) Describe the organization’s processes for managing climate-related risks.

Risk management, page 44.

c) Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization’s overall risk management.

Risk management, page 44.
How we manage risk, pages 68-69.
Risk factors, pages 70-71.

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 organization to assess climate-related risks and opportunities in line with its strategy and risk management process.

Relevant group-wide metrics and targets, page 17.

b) Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 GHG emissions, and the related risks.

GHG emissions data, page 40.

c) Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets.

RIC framework, page 41.
 

(Also note: Net zero ambition and aims, page 6).