GOVERNANCE LEVEL
Board
Climate point person member of the Board
CorporateResponsibility Committee of the Board
Audit Committee of the Board
EXCOM
Climate point person member of the EXCOM
Risk Committee
CSR Strate
CECEG
Scientific Council
CPRPP
Stakeholder Council
OPERATIONAL LEVEL
Group Risk Department
Sustainable Development Department
Strategy Department
Financial Department
CAP 2030 work streams and deployment of the raison d’être including EDF group’s carbon neutrality work stream
Steering the financial and strategic performance of the Group’s entities
Entity
defines strategic, financial and economic guidelines by taking into account EDF’s climate issues
2020: shareholders’ vote of the raison d’être, on the proposal of the Board, that commits EDF in a CO2 neutral future
2020: appointment of a climate point person within the Board
The Executive CommitteeImplements the EDF group’s climate strategy 2020: appointment of a climate point person within the EXCOM
manages strategy on climate issues
examines in depth the alignment of the Group’s investment projects with the raison d’être and climate commitments
identifies the Group’s priority risks, including climate risk, and shares its strategy for mitigation
coordinates actions to convey the Group's positions to the French and European authorities
informs the strategy by presenting the progress of scientific knowledge
raises the expectations of civil society
2020-2021: integration of CSR commitments, including climate, in all Group policies
2020: inclusion and follow-up of the carbon trajectory and of the objectives set for the Group’s entities
The TCFD (Task force on Climate-related Financial Disclosures) is a G20 FinancialStability Board (FSB) working group set up after the 2015 COP 21 conference with a view to improving companies’ financial transparency in climate-related matters. The EDF group was one of the world’s first organisations to commit to supporting this approach and is officially listed on the TCFD site as a “TCFD supporter”(1).
The TCFD(2) recommendations set out the climate reporting components companies are expected to provide in their reference documents, in four broad areas: governance, strategy, risk management, and indicators. Since 2018, the EDF group’s non-financial performance statement has included a concordance table enabling exhaustive identification of the Group’s responses to the TCFD’s recommendations(see section 3.9.3 “Further details relating to compliance with TCFD requirements”).
The EDF group also responds every year to questionnaires from non-financial rating agencies specialised in analysing corporate strategies to combat climate change. One of the best-known is the CDP (originally “Climate Disclosure Project”) questionnaire, which is structured to match the TCFD’s recommendations. The EDF group’s response to the CDP questionnaire is public. Section 3.8 “Non-financial rating” features all the EDF group’s 2020 reporting results.
To assess climate risks, the EDF group uses the classification proposed by the TCFD that distinguishes between physical risks (extreme and chronic climate events) and transition risks (legal risks, political and regulatory risks, customer-market risks, technological risks, financial risks).
The EDF group identified climate risk as a priority in 2018, addressing it in a report from the Group’s Scientific Council in March 2019, as well as in the detailed analysis presented to the EDF group’s Executive Committee and the Board of Directors AuditCommittee in October 2019. section 3.9.4 “Summary of EDF group climate risks”provides a detailed description of the risks and opportunities identified in this analysis, as well as their potential impact on the Group’s business. These risks are also listed in section 2.2.3 “Group transformation and strategic risks”, risk factor 3B,“Adapting to climate change: physical and transition risks”.
(1) fsb-tcfd.org/tcfd-supporters.
(2) Recommendations of the Task Force on Climate related Financial Disclosures, TCFD, June 2017.
