2.2. Board oversight The CEO is accountable to the Board for ensuring implementation of climate policies. The Board has responsibility for reviewing all risks, including climate-related risk and opportunities, and ensuring these are appropriately managed to support delivery of our business strategy. Recognising and managing risks is an overarching Board accountability under its charter ((2.2 (h)) A copy of the Charter is available in the Corporate Governance section of our website. The Board reserves to itself specific responsibility to: “Understand the material risks faced by the Company and ensure the Company has appropriate risk management strategies and control measures in place and is actively managing these.” —Board Charter, 3.3 (h). The process for considering risks is set out in the company’s risk management system framework. The framework meets the requirements of the ASX Corporate Governance Principles and Recommendations, Principle 7: Recognise and Manage Risk. The Board Operational Risk and Sustainability Committee (ORSC) sets, reviews and agrees relevant risk policies, practices, frameworks, targets and performance. The Committee’s Charter makes it the responsible for approving environmental policy and monitoring progress, including climate change responses. The ORSC Charter is also published on our website. Cue’s risk register assesses risks related to climate policy, climate-related events, and public perception. Examples of risks are disclosed below in the section titled Climate-Related Risks. Management is responsible for identifying, assessing and managing risk and reporting this to the Board through the ORSC. Management risk owners identify and manage risks. Management regularly reviews the corporate risk framework, including the Risk Register. The ORSC receives a report on updates to the register. Management retains specialist expertise to review risk management. At an operational level, responsibility for day-to-day oversight of climate risk and opportunity (including managing climate objectives and targets) rests with the Chief Executive. 3. Strategy TCFD category Recommendation Summarised in this document at Strategy Disclose the actual potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy and financial planning where such information is material. 3.1 Describe the climate related risks and opportunities the organisation has identified over the short, medium and long term. 3.2, 4.3 Describe the impact of these risks on businesses, strategy and financial planning. 3.3 Describe the resilience of the organisation’s strategy, taking into cosideration different climate related scenarios including a 2 degree celsius or lower scenario. 3.4 Taskforce on Climate–Related Financial Disclosures (TCFD) Statement continued 21 Cue Energy Resources Limited Annual Report 2023
RkJQdWJsaXNoZXIy MjE2NDg3