SUSTAINABILITY REPORT Cont’d Climate Change Strategy, Roadmap and Adaptation Action Plans & Enablers Climate Change Strategy In responding to our climate-related risks and opportunities, we have implemented the Climate Change Strategy that is founded upon four (4) key pillars with both short- and long-term objectives and identified four (4) enablers to assist the Group to transition towards the realisation of our GHG Reduction Targets and ultimately, carbon neutrality by 2050. Strengthen Business Resiliency Over Climate Risk Reducing Operational Carbon Footprint Reducing Carbon Footprint Across Value Chain Low Carbon Product Climate Change Strategy Pillar #1: Strengthen Business Resiliency Over Climate Risk Press Metal is aligning with the TCFD framework to enhance the transparency of climate-related disclosures to stakeholders. In FY2022, we completed our climate scenario analysis to identify climate-related risks and opportunities, with reference to the IPCC Representative Concentration Pathway (“RCP”) 8.5/ 4.3°C (business as usual) and 2.6/ 1.8°C (more stringent) scenarios: Type of Scenario Scenario Description Temperature Increase by 2100 IPCC RCP 8.5/ 4.3°C A high-emission scenario that assumes GHG emissions will continue to rise rapidly throughout the 21st century, leading to a significant increase in global temperatures and a wide range of impacts on the climate and the environment. IPCC RCP 2.6/ 1.8°C A pathway that assumes rapid reductions in GHG emissions leading to a peak and subsequent decline in GHG emissions by mid-century and net negative GHG emissions in the second half of the century. Through this scenario analysis, we identified physical and transition risks and opportunities that could impact our business and introduced mitigating actions to manage the potential impacts. A dedicated Climate-related Risk Register has also been developed that incorporates the identified physical and transition risks. Read more on our climate risks at Table X. Identified climate-related risks and opportunities for Press Metal and Table Y. Implications of physical and transition risks identified by Press Metal in TCFD Recommendations section of this Report ANNUAL REPORT 2022 118
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