Cogo takes an approach to assessing climate change risks that is in line with our scale. Risks have been assessed in the following areas:
As a technology company, we do not consider ourselves to be significantly exposed to the acute or chronic physical risks of climate change. Some exposure is possible in terms of our offices and staff being increasingly exposed to extreme weather events and changes in climate.
We are dependent on the provision of 3rd party cloud-based data centres to support our products. There is some risk that our ability to deliver our digital products is compromised by extreme weather event-related damage to this infrastructure.
As a purpose-led business that works to drive both business and consumer decarbonisation, we do not believe that we are highly exposed to transition risks related to climate change. Cogo is developing technology that can help to address the climate crisis, rather than being exposed to transition risks due to inaction or inability to change. We are also engaging with government and agency bodies on more rapid change in this space - specifically consideration of embodied carbon emissions in purchased products and services. Cogo stakes its reputation on delivering tools for businesses and consumers that are credible in the climate space. The only risk that we note here is that we need to continually invest in order to stay at the forefront of spend-based carbon footprint calculation.
Generally speaking, Cogo is well placed to benefit from many opportunities related to climate change. While this is not preferable, the increasing seriousness of our global situation is leading to increased public and business awareness of the need to take action, and therefore interest in our products. In particular consumers and small businesses increasingly want to know what their footprint is, and which meaningful actions they can take to reduce this.
Note: The TCFD Guide ‘Recommendations of the Task Force on Climate-related Financial Disclosures iv’ was referred to when conducting this assessment.