AmazonScience/document-haystack

1and opportunities (Metrics and targets – 2disclosure C), in particular the physical risks 3outlined in Table 2. These updates will be 4included in the 2024 Annual Report. 5This statement was developed by following 6the guidance in Section C of the TCFD 7Guidance Document: Implementing the 8Recommendations of the Task Force on 9Climate-related Financial Disclosures. 10Table 1 is structured against the four pillars 11of the TCFD framework: Governance, 12Strategy, Risk Management and Metrics 13and Targets. Table 2 summarises our 14most material climate-related risks and 15opportunities and their estimated impact 16on the Group. Table 3 outlines the climate 17change scenarios used in our 2022 analysis 18and subsequent 2023 review.192022 scenario analysis, we reviewed our 20climate-related threats and opportunities to 21identify those that are the most significant 22to the group. This process helped us 23refine our analysis, and we have revised 24our list of climate-related threats and 25opportunities accordingly. 26Over the next year, we will continue refining 27the quantification of the impact of climate-28related risks on the Group and across our 29different markets. We want to further 30embed climate-related considerations 31into the Group’s financial planning and 32relevant business strategies, such as our 33Key Locations Strategy which determines 34where we will operate in the future. We will 35consider additional metrics and targets 36to monitor our climate-related threats 37Over the past year, we have made progress 38in integrating climate-related risks into our 39group enterprise risk management (“ERM”) 40framework. In line with the ‘comply or 41explain’ obligation under the UK’s Financial 42Conduct Authority Listing Rules, the Group 43can confirm it is fully compliant with ten of 44the eleven TCFD recommendations and 45partially compliant with disclosure C of 46the Metrics and Targets pillar. Where we 47are partially compliant, we continue to 48develop and mature our processes as 49outlined below.50Our priority for 2023 was to start 51evaluating the impact of our relevant 52climate-related risks on the group in line 53with our ERM methodology as described on 54pages 79 to 82. Using the outcomes of our 55TCFD Entain is a staunch supporter of the recommendations of the 56Task Force for Climate-related Financial Disclosures (“TCFD”), 57having made voluntary disclosures ahead of the FCA’s mandatory 58requirements for UK Premium Listed Companies. In this section, we 59disclose the threats and opportunities of different climate scenarios 60on our Group – whether these are the impacts of transitioning to a 61lower-carbon economy, or the adaptational impacts arising from a 62rapidly warming planet63Governance64(a)  Describe the board’s 65oversight of climate-66related risks and 67opportunities.68FC The Entain Board is ultimately responsible for climate-related threats and opportunities, with overall 69ownership of this agenda sitting with our CEO.70Responsibility for identifying and managing threats is delegated to the Sustainability and 71Compliance Committee, which is accountable for monitoring our progress against targets, and 72ensuring climate-related risks are adequately addressed, respectively. 73The Sustainability and Compliance Committee is also responsible for approving, and overseeing 74the implementation of, our environmental strategy. The Committee receives quarterly updates on 75our progress against our climate-related performance – including progress against our goals and 76targets – from the ESG Steering Committee (see below). In 2023, the Sustainability and Compliance 77Committee was briefed on climate-related issues and opportunities at four of their meetings. 78The Group Risk Committee, which reports to the Board, has operational responsibility for managing 79risks within the Group, including climate-related risks deemed to have a material financial impact. 80The Board ultimately approves the Principal Risks and significant risks as well as how they are 81allocated for monitoring.82(b)  Describe 83management’s role 84in assessing and 85managing climate-86related risks and 87opportunities.88FC Our ESG Steering Group is responsible for assessing and managing climate-related threats 89and opportunities, as well as overseeing our approach to climate change as part of our wider 90sustainability strategy. The ESG Steering Group is chaired by our Chief IR & Communications Officer 91and reports to the Board Sustainability and Compliance Committee every quarter (see pages 42 to 9243).93In addition to our ESG Steering Group, we set up a Net Zero Action Group to deliver Entain’s Net Zero 94strategy. The Action Group convenes senior colleagues across departments to identify practical 95measures which can be implemented throughout our global operations to reduce greenhouse gas 96emissions. It reports to the ESG Steering Group every quarter. 97Table 1 – Climate-related financial disclosures aligned with the TCFD recommendations9856 Entain plc Annual Report 2023991 Overview 8  Strategic report 88 Governance 140 Financial statements