Our commitment to the TCFD Taking action on climate change Considering the impacts of climate change on our investments is one of our three key priorities within our RI strategy. We’re committed to: 1. Implementing 2. Assessing transition the TCFD and physical risks We’re continuously applying We’re taking a phased approach to and implementing TCFD analysing how exposed our portfolio recommendations, always is in the global transition to a low looking for ways to improve risk carbon economy, as we’re bound by management and transparency. data availability. We’re also starting to consider the physical risk factors of climate change across all asset classes, although again, the data on this is nascent. The TCFD guidance was created to help companies and We’ve formally 3. Engaging with our 4. Collaborate with investors voluntarily disclose climate-related 昀椀nancial supported the fund managers industry risks clearly, consistently and reliably to help lenders, TCFD framework insurers and investors make informed decisions. since 2018. We’re working tirelessly with We’re engaging and collaborating our fund managers across all with industry peers and the wider We’ve formally supported the TCFD framework since strategies and regions to ensure investment community on climate 2018 and have continually implemented it across our they consider, manage and report change initiatives and furthering best investment process. We’ve shared our progress in our to us on the climate-related risks practice, including support for the and opportunities our investments Paris Agreement, TCFD and Climate Annual Reports, along with our annual RI reports, which might face. Action 100+. also detail our stewardship activities and work as an active owner.