Our strategy needs to be resilient under a range of climate-related scenarios. This year we have undertaken climate-related scenario testing of a select group of customers in the thermal coal supply chain. We assessed these customers using two of the International Energy Agency’s scenarios; the ‘New Policies Scenario’ and the ‘450 Scenario’. Our reporting reflects the Financial Stability Board’s (FSB) Task Force on Climate-Related Disclosures (TCFD) recommendations. Using the FSB TCFD’s disclosure framework, we have begun discussions with some of our customers in emissions-intensive industries. The ESG Committee is responsible for reviewing and approving our climate change-related objectives, including goals and targets. The Board Risk Committee has formal responsibility for the overview of ANZ’s management of new and emerging risks, including climate change-related risks.