64 ITV plc Annual Report and Accounts 2023 ITV plc Annual Report and Accounts 2023 65 S RISKS AND UNCERTAINTIES CONTINUED T CLIMATE RELATED FINANCIAL DISCLOSURES R A T E G I 15. Operational Resilience Our commitment to Climate Action C R E P O Link to MB Sponsor: Chief Finance Officer / Chief Operating Officer R strategy E S O We recognise the climate crisis and the impact it may have on both the wider T Description What this risk category covers: Some of the things we do to manage it: world and the success of our business. We are commied to providing greater A major business • Maintaining business operations, including our ability to • Continue to focus on understanding the minimal viable transparency regarding ITV’s exposure to climate-related risk and the mitigating continuity incident broadcast linear TV, distribute & stream content and company and ITV’s recovery capability with linear/online generate Ad revenue is imperative • Annual major incident scenario testing and ahead of major actions we are taking to enhance our preparedness, responsiveness and transmission or a • We recognise the complexity of the infrastructure and live events critical ad system technology our critical business operations rely on, and the • Maintain and regularly update business continuity and resilience in the face of these uncertainties. may result in service impact these being compromised could have on our disaster recovery plans interruption and resilience. In particular, the number of third parties we rely on, revenue loss the increasing number of platform partners that we • Continue to review and monitor operational performance Link to Viability broadcast content across/through, the range of broadcasting • Continue to closely manage our broadcast chain partners This climate related financial disclosure report has been prepared to meet the minimum requirements outlined within the Task Force on Scenarios: 4 operations (i.e., multiple regions, sites and across multiple and suppliers to ensure the risk of incidents is minimised Climate-related Financial Disclosures (TCFD) as well as the mandatory reporting requirements set out in the Companies Act relating to systems) and the continually evolving methods by which we Climate-related Financial Disclosures (CFD). We have also released our first Climate Transition Plan which sets out ITV’s climate ambitions distribute content and our plans to transition the business to a net-zero pathway. For more information, see our Climate Transition Plan. • We seek to build resilience into our key IT systems and focus on maintaining robust and tested disaster recovery and business continuity plans TCFD and CFD Summary Disclosure Examples risks in this category: Some of the metrics we track: The table below signposts where the TCFD recommendations and CFD requirements can be found in the report. • Lack of resilience in our key IT systems • The development and agreement of metrics for the new Risk direction: • Inadequate IT disaster recovery plans to meet ITV’s business principal risk is underway Task Force on Climate-related Financial Relevant Companies (Strategic Report) (Climate-related Relevant 2023 operation needs Disclosures (TCFD) Recommendation Section Financial Disclosure (CFD)) Regulations Section New Risk • Ineffective operational business continuity plans Governance A. Describe the board’s oversight of Risk leadership and A. Describe the Company’s governance Risk leadership and climate-related risks and governance (page 66) arrangements in relation to assessing governance (page 66) opportunities. and managing climate-related risks and opportunities. B. Describe management’s role in Our Approach (page 66) assessing and managing climate- related risks and opportunities. Strategy A. Describe the climate-related risks and Strategy (page 66) D. Describe i) the principal climate- Strategy (page 66) opportunities the organisation has related risks and opportunities arising identified over the short, medium, and in connection with the Company’s long term. operations, and ii) the time periods by reference to which those risks and opportunities are assessed. B. Describe the impact of climate-related Strategy (page 66) E. Describe the actual and potential Strategy (page 66) risks and opportunities on the impacts of the principal climate- organisation’s businesses, strategy, related risks and opportunities on the and financial planning. Company’s business model and strategy. C. Describe the resilience of the Detailed Risks Strategy F. An analysis of the resilience of the Detailed Risks Strategy organisation’s strategy, taking into (page 66) Company’s business model and (page 66) consideration different climate- Resilience (page 71) strategy, taking into account Resilience (page 71) related scenarios, including a 2°C or consideration of different climate- lower scenario. related scenarios. Risk Management A. Describe the organisation’s processes Risk Management (page 66) B. Describe how the Company identifies, Risk Management and for identifying and assessing assesses, and manages climate Governance (page 66) climate-related risks. related risks and opportunities. B. Describe the organisation’s processes Governance (page 66) for managing climate-related risks. C. Describe how processes for identifying, Risk Management and C. Describe how processes for identifying, Risk Management and assessing, and managing climate- Governance (page 66) assessing, and managing climate Governance (page 66) related risks are integrated into the related risks are integrated into the organisation’s overall risk Company’s overall risk management management. process.