ESG Content Index

TCFD Reporting

a) Describe the board’s over- sight of climate-related risks and opportunities. At Hafnia, ESG and Climate Strategy, and Governance are prioritised from the top and anchored with the Board of Directors and our Leadership Group. The Board discusses and includes sustainability considerations into our corporate strategy, governance, risk profile and decision making. The ESG performance and sustainability–linked topics are discussed between the Board and CEO on a quarterly basis. The Audit Committee oversees our climate related-risks and opportunities as well as our ESG disclosures, processes, controls and external assurance.
b) Describe management’s role in assessing and managing risks and opportunities. Management reviews climate-related risks and opportunities on an ongoing basis, as part of its responsibilities for enterprise risk management. Risks and opportunities identified are integrated into Hafnia’s Climate Risk assessment and evaluated over time, considering the possible impacts for our business in the short and long term
a) Describe the climate-related risks and opportunities the organisation has identified over the short-, medium-, and long-term. Climate-related risks and opportunities have been identified for short-, medium-, and long-term and the results have been synthetised in the Risks and Opportunities table.
Refer to the Chapter 3
b) Describe the impact of climate-related risks and opportunities on the organisation’s businesses, strategy, and financial planning. Refer to the Chapter 3.3.
c) Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2oC or lower scenario. Following the recommendations of TCFD, Hafnia considered two climate risk scenarios, a 1.5 degree Celsius and a 3.0-degree Celsius scenario. Hafnia is investing into climate reduction pathways required to achieve the targets including the IMO’s and Paris Agreement’s current 2030 and 2050 reduction goals. The strategy will continuously evolve and adapted to ensure resilience of our business both in the short and long term.
Risk Management
a) Describe the organisation’s processes for identifying and assessing climate-related risks. Our company assessed the transitional and physical risks within each scenario and identified the impacts, opportunities, and mitigation strategy within each of the major risk categories. A formal Climate Risk Review had been conduct- ed, including management workshops, led by an external advisory.

A summary of the outcomes is included in Chapter 3.3

b) Describe the organisation’s processes for managing climate-related risks. Various management approaches are used for addressing climate-related risks. This includes measurement, mitigation and adaptation strategies. The climate-related risks are also integrated into our Enterprise Risk Management system, to further assess which initiatives can tangibly and effectively manage them.
c) Describe how processes for identifying, assessing, and managing climate-re- lated risks are integrated into the organisation’s over- all risk management. Climate-related risks are fully integrated into Hafnia’s risk management approach and will be assessed by the Board and Management on an ongoing basis.
Metrics & Targets
a) Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk manage- ment process. GHG emissions are measured in CO2 equivalents. Risk categories are defined, and proper measurements developed for an effective measurement of risk management.
b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks. Refer to Chapter 2.2
c) Describe the targets used by the organisation to man- age climate-related risks and opportunities and performance against targets. Refer to Chapter 2.2

Login to: