TCFD adoption is encouraged in engagements related to the use of fossil fuels and climate change. For example:
· In responsive climate-related engagements, one of the goals of the engagement is for the companies to develop and publish a 2 degree scenario analysis.
· We participate in the Climate Action 100 engagement, in which adoption of / alignment with TCFD is one of the objectives.
· In a proactive engagement with six companies on energy efficiency, one of the objectives is for the companies to perform and publish conduct scenario analyses that include a 2 degree scenario?
Target companies for active ownership are identified through their risk exposure and management (mitigation) score in light of the transition to a low carbon economy.