Sustainability Report 2023 32 The scenario analysis results highlight the need for us to promote resiliency within our operations and supply chains, particularly against extreme heat and flooding events. We target to integrate these specific action plans into our strategic priorities and overall business strategy, including: • Clear governance to monitor and track the management of climate-related risks and opportunities. • Integration of climaterelated risks and opportunities into roles and responsibilities and decision-making processes across our operations. • Collaboration with stakeholders to reduce costs and emissions. • Consider investment in deployment of low carbon technologies. • Identify opportunities to reduce reliance on supply chains that have a potentially high risk of disruption from natural hazards. • Conduct sitespecific physical risk assessments for assets identified as having the highest risk in the hotspot analysis, to account for asset-specific information. • Consider relevant natural hazards in emergency response plans for each site. • Identify alternate supply chains/routes and more flexible procurement and planning processes to enable resiliency to physical risks in the supply chain. • Regular employee training plans for safety measures and evacuation procedures relating to physical risks. These measures will help Geo Energy meet the growing expectation of our stakeholders in transitioning towards a low-carbon economy and be prepared for compliance with tighter climate-related legislation. Beyond 2030, we will continue to raise our ambitions to further reduce our carbon footprint in order to mitigate the identified climate-related risks and seize opportunities in the low carbon economy before 2050. Metrics and Targets Geo Energy keeps track of the climate-related risks impacting our business and seeks to leverage on opportunities to enhance growth. To build trust with our stakeholders and be accountable towards our sustainability performance, we aim to develop a comprehensive set of climaterelated metrics and targets. Data on our Scope 1, 2 and 3 GHG Emissions is elaborated in the Energy and Climate Change and Sustainability Performance sections. Applying the findings from the gap analysis we conducted against TCFD recommendations in 2021, we intend to explore ways to reduce our GHG emissions that are aligned to the relevant climate risks and opportunities identified during transition and physical risk assessments. As Geo Energy’s climate journey progresses, climate risk and opportunity-related metrics and targets will be publicly disclosed. DIGITALISATION AND TECHNOLOGY [GRI 3-3] The emergence of innovative technologies like artificial intelligence, Internet of Things (IoT) applications, and cloudbased software provides us with fresh prospects to enhance our operational efficiency, minimise costs, and effectively oversee and control the effects of our actions on the broader environment and society. To address any associated risk, we have put in place measures focusing on business continuity to ensure smooth operations even in any event of technological disruption. Supporting the health and safety, well-being of our people and value chain How we manage this We are cognisant of the associated negative impacts of data security breaches and technological issues on our value chain, particularly on our customers’ privacy. While we strive to utilise technology as a key driver to adapt to changing industry circumstances, we also focus on cybersecurity to reduce the risks of data breaches. To maintain digital security and ensure that our employees have secure access to our networks, information technology (IT), and data systems, we implement virtual private network (VPN)
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