{"id":4634,"date":"2021-09-28T22:30:51","date_gmt":"2021-09-28T22:30:51","guid":{"rendered":"https:\/\/www.gfni.com.ph\/staging\/3148\/?page_id=4634"},"modified":"2022-03-28T17:52:11","modified_gmt":"2022-03-28T17:52:11","slug":"climate-related-risk-and-opportunities","status":"publish","type":"page","link":"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/climate-related-risk-and-opportunities\/","title":{"rendered":"Climate Related Risk and Opportunities"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"4634\" class=\"elementor elementor-4634\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d0386e0 elementor-section-height-min-height elementor-section-items-bottom elementor-section-boxed elementor-section-height-default\" data-id=\"d0386e0\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cb02766\" data-id=\"cb02766\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-23afe67 elementor-widget elementor-widget-heading\" data-id=\"23afe67\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Climate-Related Risk and Opportunities<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-74b884d elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"74b884d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-44133a4\" data-id=\"44133a4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8178a56 sidebar-menu elementor-widget elementor-widget-wp-widget-nav_menu\" data-id=\"8178a56\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"wp-widget-nav_menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5>Sustainability<\/h5><div class=\"menu-sustainability-menu-container\"><ul id=\"menu-sustainability-menu\" class=\"menu\"><li id=\"menu-item-4615\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4615\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/\">Sustainability Framework<\/a><\/li>\n<li id=\"menu-item-4676\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4676\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/materiality\/\">Materiality<\/a><\/li>\n<li id=\"menu-item-4675\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4675\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/materiality-2\/\">Stakeholder Engagement<\/a><\/li>\n<li id=\"menu-item-4616\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4616\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/social-performance\/\">Social Performance<\/a><\/li>\n<li id=\"menu-item-4719\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4719\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/employees-welfare\/\">Employees Welfare<\/a><\/li>\n<li id=\"menu-item-4718\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4718\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/community-welfare-and-development\/\">Community Welfare and Development<\/a><\/li>\n<li id=\"menu-item-4630\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4630\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/environmental-performance\/\">Environmental Performance<\/a><\/li>\n<li id=\"menu-item-4642\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4642\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/climate-related-risk-and-opportunities\/\">Climate-Related Risk and Opportunities<\/a><\/li>\n<\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2cc731d elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-sidebar\" data-id=\"2cc731d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"sidebar.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div id=\"ocean_custom_menu-2\" class=\"sidebar-box widget-oceanwp-custom-menu custom-menu-widget clr\"><h4 class=\"widget-title\">Browse more at GFNI<\/h4><div class=\"oceanwp-custom-menu clr ocean_custom_menu-2 left dropdown-hover\"><ul id=\"menu-gfni-menu-side-bar\" class=\"dropdown-menu sf-menu\"><li  id=\"menu-item-4918\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-home menu-item-4918\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/\" class=\"menu-link\">Home<\/a><\/li>\n<li  id=\"menu-item-4919\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4919\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/about-us\/\" class=\"menu-link\">About Us<\/a><\/li>\n<li  id=\"menu-item-4920\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4920\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/corporate-governance\/\" class=\"menu-link\">Corporate Governance<\/a><\/li>\n<li  id=\"menu-item-4921\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4921\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/company-disclosures\/\" class=\"menu-link\">Company Disclosures<\/a><\/li>\n<li  id=\"menu-item-4922\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4922\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/news\/\" class=\"menu-link\">News<\/a><\/li>\n<li  id=\"menu-item-4923\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4923\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/investor-relations\/\" class=\"menu-link\">Investor Relations<\/a><\/li>\n<li  id=\"menu-item-4926\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-4926\"><a href=\"https:\/\/www.gfni.com.ph\/staging\/3148\/sustainability\/\" class=\"menu-link\">Sustainability<\/a><\/li>\n<\/ul><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-eb44328\" data-id=\"eb44328\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f56641e elementor-widget elementor-widget-heading\" data-id=\"f56641e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">CLIMATE-RELATED RISK AND OPPORTUNITIES<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-607e6d1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"607e6d1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c321d66\" data-id=\"c321d66\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-99919a7 elementor-widget elementor-widget-text-editor\" data-id=\"99919a7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"page\" title=\"Page 23\"><div class=\"section\"><div class=\"layoutArea\"><div class=\"column\"><div class=\"page\" title=\"Page 32\"><div class=\"section\"><div class=\"layoutArea\"><div class=\"column\"><p>Concerns on Climate Change is a reality for the Company<br \/>as climate is a factor that affects the day-to-day operations. Climate-relation risks such as energy shortage, natural disasters such as extreme typhoons and flooding, as well as occupational injuries and ill health due to gradual increase<br \/>in temperature have been identified as priority risks that the Company addresses through its Enterprise Risk Management (ERM) system and various environment programs described in previous sections.<\/p><p>Supported by the Audit and Board Risk Oversight Committee, Corporate Internal Audit, SVP for Legal and Compliance,<br \/>SVP for Operations, and SVP for Finance, the Board has the responsibility of supervising the overall risk management within the Company. This ensures that all risks are identified, measured, and managed effectively and continuously through the ERM system. It plans to consider additional measures for specific climate-related risk events within 2020.<\/p><p>The management is primarily responsible for overseeing<br \/>all risks to the Company and maintaining communication with the Board and stakeholders on the performance of its ERM system. Consequently, an ERM core team is assigned to help the management assess the effectiveness of the Company\u2019s Risk Management System and, therefore, identify opportunities for improvement.<\/p><p>Using the established Risk Management Process, the Company regularly monitors current and emerging risks:<\/p><p>1. Assess<br \/>\u00a0 \u00a0 \u00a01.1 Assess risk management framework<br \/><span style=\"font-size: 14px; color: var( --e-global-color-text );\">\u00a0 \u00a0 \u00a01.2 Identify and prioritize risks<br \/><\/span><span style=\"font-size: 14px; color: var( --e-global-color-text );\">\u00a0 \u00a0 \u00a01.3 Source and analyze risks <br \/><br \/>2. Improve<br \/><\/span><span style=\"font-size: 14px; color: var( --e-global-color-text );\">\u00a0 \u00a0 \u00a02.1 Develop risk management strategies<br \/><\/span><span style=\"font-size: 14px; color: var( --e-global-color-text );\">\u00a0 \u00a0 \u00a02.2 Develop risk management action plans <br \/><br \/>3. Monitor<br \/><\/span><span style=\"font-size: 14px; color: var( --e-global-color-text );\">\u00a0 \u00a0 \u00a03.1 Develop risk monitoring process <br \/>\u00a0 \u00a0 \u00a03.2 Develop risk reports<\/span><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b2cb561\" data-id=\"b2cb561\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f9a035 elementor-widget elementor-widget-image\" data-id=\"3f9a035\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"470\" height=\"1024\" src=\"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities-470x1024.jpg\" class=\"attachment-large size-large wp-image-4531\" alt=\"\" srcset=\"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities-470x1024.jpg 470w, https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities-138x300.jpg 138w, https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities-768x1673.jpg 768w, https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities-705x1536.jpg 705w, https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities-940x2048.jpg 940w, https:\/\/www.gfni.com.ph\/staging\/3148\/wp-content\/uploads\/2021\/09\/W_Climate-Related-Risk-and-Opportunities.jpg 1010w\" sizes=\"(max-width: 470px) 100vw, 470px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ca381b1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ca381b1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7dbc6a6\" data-id=\"7dbc6a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Climate-Related Risk and Opportunities CLIMATE-RELATED RISK AND OPPORTUNITIES Concerns on Climate Change is a reality for the Companyas climate is a factor that affects the day-to-day operations. Climate-relation risks such as energy shortage, natural disasters such as extreme typhoons and flooding, as well as occupational injuries and ill health due to gradual increasein temperature have [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"parent":4445,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"nf_dc_page":"","ocean_post_layout":"full-screen","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"on","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"off","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"on","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","footnotes":""},"class_list":["post-4634","page","type-page","status-publish","hentry","entry"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"en","enabled_languages":["en","es","de","fr","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/pages\/4634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/comments?post=4634"}],"version-history":[{"count":16,"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/pages\/4634\/revisions"}],"predecessor-version":[{"id":5089,"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/pages\/4634\/revisions\/5089"}],"up":[{"embeddable":true,"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/pages\/4445"}],"wp:attachment":[{"href":"https:\/\/www.gfni.com.ph\/staging\/3148\/wp-json\/wp\/v2\/media?parent=4634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}