In the coming years, Northern Trust expects to conduct a screening-level analysis of its largest portfolio of assets and business functions to determine the climate-related risks and opportunities to assets managed for clients. Further, Northern Trust expects to explore further its top climate-related opportunities, including those around energy efficiency, subscription of renewable energy sources and energy resilience measures. Investing in newer energy-efficient systems and resource-efficient processes, sourcing renewable energy and diversifying its energy sources (i.e., minimizing fossil fuel sources) that are less susceptible to climate-related interruptions and are more resilient, may also position Northern Trust well to continue transitioning to a lower-carbon economy. Finally, as Northern Trust has exceeded its goal of reducing its carbon emissions by 25% by 2020, it expects to use the findings of its climate-related scenario analysis to set further metrics and targets aligned to the TCFD framework.