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The Task Force on Climate-related Financial Disclosures (TCFD) recommendations form a global foundation for climate-related disclosures. The standards set by the Sustainability Accounting Standards Board (SASB), Climate Disclosure Standards Board (CDSB), and Global Reporting Initiative (GRI) support implementation of the TCFD recommendations by providing structures for collecting and disclosing uniform quantitative and qualitative information on material, climate-related risks and opportunities. This section provides an overview of the EPCOR disclosures that align with these standards, with a climate-related focus.

Corporate governance

Our governance of climate-related risk, and the roles of the board and management in that process, are described in the December 31, 2020 Management's Discussion and Analysis (beginning on page 29) and in the 2020 Annual Information Form (beginning on page 24).

This report also describes the roles of the board and management in developing this ESG report, including the materiality assessment that informed the report content; performance measures and qualitative disclosure selection; and performance monitoring.

​Strategy

Our Environment and Climate Change Strategy is described in the 2020 Annual Information Form (on pages 25–27). This report expands on that disclosure with:

  • Broadened and accelerated targets for greenhouse gas mitigation, and information on how the 2025 target will be met and what work will remain.
  • A description of risks to certain utility infrastructure from river flooding, the investments and timelines for mitigating those risks, and the residual risk that will remain following completion of that work.
  • A description of risks to water sources in Canada and the United States, and our programs and investments to monitor and sustain water volume and quality.
  • Information on the capital investment opportunities and benefits from our community flood mitigation programs.
  • Links to additional public information that describes these programs and investments in greater detail.

​Risk management

Our approach to risk management, including climate-related risk and its integration into the company's Enterprise Risk Management (ERM) system, are described in the December 31, 2020 Management's Discussion and Analysis (MD&A) (beginning on page 29), and in the 2020 Annual Information Form (on pages 23–25). The MD&A discusses weather and climate change risks the company faces, including physical and transitional risks (on pages 32–33). This ESG report expands on that disclosure with additional information on physical climate risks from flooding, drought and weather pattern changes, and our​​ work to monitor and mitigate those impacts.

​Metrics and targets

In alignment with global reporting standards, this ESG report discloses Scope 1 and Sco​pe 2 greenhouse gas emissions for EPCOR-owned operations by volume and by source type. The report discloses targets for net emissions in 2025, 2035 and 2050. These targets have been broadened and accelerated from those disclosed in the 2020 Annual Information Form. The company also reports on the activities underway to meet the 2025 targets, and the residual emissions that will remain to be addressed to achieve its medium- and long-term targets. The Scope of Reporting section provides additional detail on the emissions data reported, including material assumptions, assurance processes and range of uncertainty. ​