Mercuria CSR Report 2024 - Flipbook - Page 24
PLANET 2024
TCFD REPORTING
The Task Force on Climate-related Financial Disclosures (TCFD)
was created by the Financial Stability Board to develop consistent
climate-related financial risk disclosures.
Our CSR report has been prepared, to the extent possible, with
reference to the recommendations of the TCFD, particularly in the
areas of governance, strategy, risk management, and metrics and
targets.
Our
TCFD
framework
supports
the
continuous
development of our governance, strategy, and risk
management during the energy transition. It also sets the
metrics and targets for the years ahead.
GOVERNANCE
Mercuria’s team includes specialists with expertise in
sustainability,
supply
chains,
social
responsibility,
governance, and health and safety. The team meets
regularly4often weekly4with active participation from the
Global Head of Corporate Responsibility & Compliance. The
Global Head of Corporate Responsibility & Compliance
engages in daily discussions about these topics with senior
leadership, including Mercuria’s CEO, and presents them at
quarterly board meetings. These ongoing engagements
ensure that these topics are incorporated into the
company’s strategy, including initiatives under Mercuria’s
Agenda 2030 and carbon emissions reduction plans.
In our Climate Disclosure, we align our reporting with the
Task Force on Climate-related Financial Disclosures (TCFD)
recommendations, which, along with our emissions
calculations and materiality analysis, provide a doublemateriality assessment of our business. This approach
enables us to identify and actively manage climate-related
risks and opportunities across short-term, medium-term
and long-term horizons.
STRATEGY
Mercuria has set out a net zero goal by 2050, similar to the
Swiss Federal Council climate goals, and continues to work
towards this goal. We align our strategy to the Swiss Energy
Perspective (EP2050+). According to the Swiss EP2050+, the
main levers for reducing emissions in industry are increased
energy efficiency, the substitution of fossil fuels with
renewable energies and greater electrification.
Since Mercuria’s establishment, we have strategically
diversified our trading portfolio, transitioning from a
primarily oil-focused business model to one that
emphasizes lower-carbon energy sources, with a particular
focus on gas and power trading.
This aligns with the objectives of the Swiss EP2050+, which
highlights the importance of electrifying the energy system.
Electrification serves as both a substitute for higher-carbon
fuels and as a supportive backup for renewable energy
sources, playing a critical role in the energy transition.
Moreover, in 2021, Mercuria formulated a transition plan and
pledged that, by 2025, more than fifty percent of our
investments would be directed towards the energy
transition. Mercuria has achieved and exceeded this
commitment ahead of schedule.
Mercuria Corporate Social Responsibility Report 2024 | 24
