At CLAS’ existing operational properties, environmentally-friendly practices, infrastructure and equipment upgrades are also being carried out, where Disclaimer The purpose of this section is to provide climate-related disclosures which contain information related to climate risks and opportunities, consistent with the TCFD recommendations. The information and opinions contained in this section are provided as of the date they are made and subject to change. This report contains forward-looking statements and statements of opinion. All statements, other than statements of historical fact, including without limitation, statements regarding the plans, strategies and objectives of management in relation to climate and CLAS’ future performance, are forward-looking statements. Forward-looking statements are predictive in character and involve subjective judgement, assumptions and analysis, and can be subject to potentially significant risks, uncertainties and other factors, many of which are outside the control of, and are unknown to, CLAS. Other unpredictable or unknown factors not discussed in this report could also have material adverse effects on forward-looking statements. CLAS does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. Users of this report are cautioned not to place undue reliance on such statements, particularly in light of the long-term horizon which this report discusses and the inherent uncertainty in possible policy, market and technological developments in the future. CLAS will continue to publish relevant climate-related disclosures in its future sustainability reports and users of this report are advised to check its website for and refer to the latest published report. While CLAS has prepared the statements in good faith, there are also limitations with respect to climate scenario analysis derived from a third-party platform. The degree of potential risk identified in this platform does not consider mitigation or adaptation strategies that may be in place or are being implemented at the portfolio company or specific asset. It also does not consider planned mitigation or adaptation strategies at the country level. The climate scenario analysis in this report was reviewed with and augmented by another third-party consultant. Scenario analysis is not an indication of probable outcomes and relies on assumptions that may or may not prove to be correct or eventuate. Scenario analysis is a process for identifying and assessing the potential implications of a range of plausible future states under conditions of uncertainty. Scenarios are hypothetical constructs and not designed to deliver precise outcomes or forecasts. Additionally, scenarios are not warranted or guaranteed to be free from technical inaccuracies or omissions. Instead, scenario analysis provides a way for organisations to consider how the future might look if certain trends continue or certain conditions are met. In the case of climate change, for example, scenarios allow an organisation to explore and develop an understanding of how various combinations of climate-related risks, both transition and physical risks, may affect its businesses, strategies, and financial performance over time1. While every effort was made to provide accurate and complete information, CLAS does not represent or warrant that the information in this report is free from errors or omissions, or is complete. This report is not intended to be and should not be relied upon as advice to investors or potential investors. In particular, no representation or warranty is given as to the accuracy, likelihood of achievement or reasonableness of any forward-looking statements contained in this Statement or the assumptions on which they are based. Climate scenarios may change and third-party platform outputs may change and improve over time. Such material is, by its nature, subject to significant uncertainties and contingencies outside of CLAS’ control. Actual results, circumstances and developments may differ materially from those expressed or implied in this report. CLAS’ TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES (TCFD) Since 2017, CLI aligned its climate-related disclosures with the TCFD recommendations in the four key areas of governance, strategy, risk management and metrics and targets. CLI further declared its support for TCFD and its recommendations in 2019. Aligned with CLI’s commitment and in compliance with regulations, CLAS has progressively developed its climate-related disclosures since 2021, and is striving to continuously enhance its reporting against the TCFD recommendations. This chapter contains CLAS’ 2023 progress update. feasible, to meet green certification standards. Every property is studied in detail, and appropriate climate change adaptation measures are considered to address risks. 1 For an overview of a scenario analysis, please see page 25 of TCFD’s Recommendations of the Task Force on Climate-related Financial Disclosures. SUSTAINABILITY REPORT 2023 18
RkJQdWJsaXNoZXIy NTkwNzg=