Climate scenario analysis and TCFD disclosure

Challenge

Antofagasta PLC is one of the most important conglomerates in Chile, specialising in mining and public infrastructure. Recognising the impact their work has and the importance of being transparent, Antofagasta is working towards full-disclosure against the Taskforce on Climate Related Financial Disclosure (TCFD) framework. To achieve this, Antofagasta enlisted the support of Corporate Citizenship (an SLR company) in developing a climate scenario analysis to assess its impacts, in financial terms, across the lifetime of its mining and transport assets.

Solution

Corporate Citizenship combined teams from its Chile and UK offices. The first step was to conduct a TCFD readiness review to assess gaps against TCFD recommendations. The team then conducted a qualitative assessment of the transition and physical risks and opportunities and then quantified the findings into financial value. Finally, they were able to support the clients TCFD implementation strategy, roadmap and end report.

Impact

Corporate Citizenship was able to help Antofagasta create an enduring process and climate scenario analysis model for the ongoing assessment of climate impacts and continued disclosure against TCFD recommendations.

Corporate Citizenship also supported Antofagasta to disclose against the TCFD recommendations in their TCFD Report 2020, Annual Report 2021, and Climate Change Report 2021.