Falabella: Integration of climate risks in the organization's risk management system
Identification and analysis of climate risks, both physical and transitional.
Quantification of the financial impact of priority risks, using climate models and scenario analysis.
Construction of a climate risk management framework and its integration into existing risk management systems.
Governance recommendations, including responsibilities and incentives, for climate risk management and identification of gaps in current governance.
Proposal of metrics and targets to enable timely management of climate change over time.
Report on progress made, in line with Falabella’s reporting requirements (NCG461, DJSI, etc.).
Implementation of TCFD recommendations in Falabella S.A. and its subsidiaries to identify, assess, manage and report financial risks derived from climate change. Identify how the organizational structure should be adapted in order to meet this challenge.
The organization can anticipate the impacts derived from climate change, associated with physical and transition risks, generating adaptation and mitigation projects, respectively, to address them. This increases its resilience to the financial impacts of climate change and enables it to prepare for the more severe impacts of a transition to a low-carbon economy through a decarbonization strategy that permeates all levels of the company.