Risk
management
To act with discernment and strengthen our ability to adapt to climate change, 
structured, rigorous risk management is essential.
Our integrated risk approach
Climate-related risks are included in our integrated risk management 
process. We consider their potential impacts on our strategic objectives, as well 
as their interdependencies with other risks or internal or external factors that 
may influence them.
They are also taken into account in our crisis simulation program and our risk 
appetite framework, which sets out the level of risk we are prepared to accept 
and the associated monitoring mechanisms. This allows us to develop scenarios, 
analyze the results, and better prepare for extreme conditions.
This work helps to deepen our understanding of risks, assess the effectiveness 
of existing mitigation measures and controls, develop appropriate action plans, 
and ensure regular monitoring of climate risks.
Climate risks, whether physical or transition-related, are treated as cross-cutting 
factors that may act as drivers or amplifiers of financial, operational, strategic, 
and reputational risks.
2025 – CSR SUMMARY
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