TCFD recommended disclosures |
Where to find more information in bp’s 2019 Annual Report |
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Governance Disclose the organization’s governance around climate-related issues and opportunities. |
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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. |
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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
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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.
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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. |
Risk management Disclose how the organization identifies, assesses and manages climate-related risks. |
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a) Describe the organization’s processes for identifying and assessing climate-related risks. |
Risk management, page 44. 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. |
Metrics and targets Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material. |
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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). |