ESG risks are assessed annually in the materiality analysis, which selects and assesses the impacts and risks connected with material topics.
Also for 2022, the analysis shows that risks linked to the most relevant material topics in terms of impact are mapped and overseen by the ERM model through speciﬁc mitigation activities deﬁned by the Risk Owners with the support of the Risk Management Department.
Among the mapped company risks, “Climate” risk is managed in line with the model proposed by the Task Force on Climate-related Financial Disclosures(1), which recommends disclosure by the company of the metrics and targets used to assess and monitor risks and opportunities linked to the climate, including Scope 1, 2 and, where possible, Scope 3 emissions.
To measure the actual and potential impact of this risk, we use a short, medium and long-term assessment model that provides an economic financial risk output.
(1) The Task Force on Climate-related Financial Disclosures (TCFD) is created by the Financial Stability Board (FSB), the international body that monitors and makes recommendations on the global financial system to improve and increase climate-related financial disclosure.
(2) Derive from climate change impacts.
(3) Derive from actions associated with a transition towards a lowcarbon economy, e.g., the introduction of new low-carbon climate or technology policies.
TIM Group's alignment with the recommendations of the Task Force on climate-related financial disclosures (TCFD) (.pdf) - download and consult the document