IVL embraced the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) into financial and non-financial evaluations. We have considered the IEA 450 scenario for financial analysis by using the internal carbon price as a parameter to quantify monetary impacts, if the carbon tax were imposed in OECD and non-OECD countries. We conducted stress-testing analysis to anticipate the impacts on production, EBITDA, and revenue as part of our risk management process. In addition, as suggested by the TCFD, we applied the AQUEDUCT water risk atlas to forecast the change in future water stress to identify sites that face the most significant risk in future water demand and supply. The results of these studies have been incorporated in our long-term adaptation measures, which allows management to can make informed and long-range decisions for IVL’s sustainability.