Unilever recognises the importance of disclosing climate-related risks and opportunities. Adopting the Taskforce on Climate-Related Financial Disclosures (TCFD) recommendations is an important step forward in enabling market forces to drive efficient allocation of capital and support a smooth transition to a low-carbon economy. The Boards take overall accountability for the management of climate change risks and opportunities with support from the ULE and the USLP Steering Team. Chaired by Keith Weed, the USLP Steering Team includes nine members of the ULE and meets five times a year. For 2,872 senior management employees, incentives include fixed pay, a bonus as a percentage of fixed pay and a long-term management co-investment plan (MCIP) linked to financial and USLP performance – including our climate change, water and sustainable sourcing targets. Climate change has been identified as a principal risk to Unilever.