Introduction
DSV Panalpina becomes even more transparent on climate performance towards investors and customers.
Stakeholders are increasingly expecting companies to focus more on climate when setting their targets, and that they identify climate-related risks and opportunities in relation to their business.
DSV Panalpina is already on this journey with our purpose to reduce our CO2 emissions by setting approved Science Based Targets and we have set a clear strategy towards these targets. By supporting the Task Force on Climate-related Financial Disclosures (TCFD) this is a way for us to acknowledge the importance of the financial community in this transformation.
TCFD is one among a number of reporting frameworks within corporate responsible reporting that DSV Panalpina is working with. Sustainability Accounting Standards Board (“SASB”), Global Reporting Initiative (“GRI”), EU Taxonomy and others are standards that we during 2021 will closely look into. Our corporate responsibility reporting is already GRI compliant and similar to our approach to TCFD we will conduct a gap analysis between the existing reporting and the SASB framework with a view to have a complete mapping available during the course of 2021.
The table below shows DSV Panalpina’s initial response to the TCFD recommendations, with reference to our disclosures in our 2020 Corporate Responsibility Report and Annual Report
Governance
| TCFD Recommentations | Disclosure | Reference |
| 1. Describe the board's oversight of climate-related risks and opportunities. |
2020 Corporate Responsibility Report:
Governance Section |
Page 35 |
| 2. Describe management's role in assessing and managing climate-related risks and opportunities | 2020 Annual Report: Governance section |
Page 35-37 |
| 2020 Annual Report: Risk Management Section |
Page 29-34 |
Strategy
| TCFD Recommentations | Disclosure | Reference |
|
1. Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term. |
2020 Corporate Responsibility Report: |
Pages |
| 2020 Annual Report: Vision and strategy, Risk Management |
Pages 12, 30 |
|
| 2. Describe the impact of climate-related risks and opportunities on the organization's businesses, strategy, and financial planning | 2020 Corporate Responsibility Report: Environmental Management, Sustainable Logistics Services, Innovation |
Pages 14-16 |
| 3. Describe the resilience of the organization's strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. | 2020 Corporate Responsibility Report: Science Based Targets |
Pages 12-13 |
| 2020 Annual Report: Vision and strategy, Risk Management |
Pages 11, 29 |
Risk Management
| TCFD Recommentations | Disclosure | Reference |
|
1. Describe the organization's processes for identifying and assessing climate-related risks. 2. Describe the organization's processes for managing climate-related risks. |
Annual Report 2020: |
Pages |
| 3. Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization's overall risk management. |
Metrics
| TCFD Recommentations | Disclosure | Reference |
|
1. Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process. |
Corporate Responsibility Report 2020: |
Pages |
| 2. Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks. | Corporate Responsibility Report 2020:
Factbook |
Pages |
| 3. Describe the targets used by the organization to manage climate-related risks and opportunities and performance against target | Corporate Responsibility Report 2020: Environment, Science-Based Targets |
Pages 11-13 |
Any questions?
Contact Lindsay Zingg, Senior Director, Group Sustainability
