Boliden's climate disclosure using TCFD structure

Principles		Reference

Governance
Frequency by which the board and/or board committees are informed about climate-related risks		ASR 61-63
Board and/or board committees consider climate-related issues when reviewing and guiding strategy		SI 23
Board monitors and oversees progress against goals and targets for addressing climate-related issues		ASR 63
Description provided of the processes by which the board is informed about climate-related issues disclosed		ASR 62
Organization has assigned climate-related responsibilities to management-level positions or committees		ASR 63, SI 23
Description provided of the associated organizational structure(s)		SI 23
Description provided of how management monitors climate-related issues		SI 23

Strategy
Assessment of potential climate-related impacts on business conducted		ASR 4-7, SI 27
Description provided of what they consider to be the relevant short-, medium-, and long-term time horizons		ASR 4-7, SI 25-26
Description provided of the specific climate-related issues potentially arising in each time horizon		ASR 54, SI 24-25
Company discloses information on the potential impacts of climate-related risks and opportunities		ASR 4-7, 54, SI 24-27
Description provided of how the organization’s strategies might be affected by climate-related risks and opportunities		ASR 4-7, 54, SI 23-24
Climate-related scenario analysis conducted by the company		SI 25-27
Company discloses how resilient the organization’s strategies are to climate-related risks and opportunities		ASR 4-7, 35, SI 24

Risk management
Processes for identifying climate-related risks defined, covering potential size and scope of identified climate-related risks		ASR 35, 54, SI 7-8, 9, 24-27
Description provided of processes used to manage climate-related transition risks (policy and legal, technology, market, reputation)		SI 24
Description provided of processes used to manage climate-related physical risks (acute and/or chronic)		SI 24-26
Description provided of processes used to manage climate-related opportunities (resource efficiency, energy source, products & services, markets, resilience)		SI 27
Processes for managing climate-related risks defined		SI 27-29
Processes for identifying, assessing, and managing climate-related risks are integrated into overall enterprise risk management framework		SI 7-8, 9, 27-29
Climate-related risks and opportunities are integrated into current decision making and strategy formulation		ASR 1-6, SI 27-29

Metrics and targets
Company discloses GHG emissions quantitative metrics used to measure & manage climate-related risks & opportunities		ASR 9, 110-116, SI 27-29
Company discloses quantitative metrics (other than GHG emissions) used to measure & manage climate-related risks & opportunities		SI 27-29
Company discloses quantitative information regarding the financial implications on its metrics used to measure & manage climate-related risks & opportunities		SI 27-29
Quantitative disclosures relate to climate-related opportunities, such as revenue from products and services designed for a lower-carbon economy		SI 27-29
Performance metrics are incorporated into remuneration policies		SI 44, ASR 71, note 5
Company defines an internal price of carbon, which is factored into business decision-making		ASR 81, Note 13, SI 14-15
Industry-specific GHG efficiency ratios disclosed		SI 27-29
GHG targets in place		ASR 9, SI 18
Climate change non-GHG targets in place, covering: water, energy, land use, and waste management where relevant and applicable		ASR 9, 11, SI 18, 19