Risk type Recommendation Description Time Control Physical risks Acute & Chronic To increased frequency and intensity of extreme weather events such as storms, flooding, coastals inundation, lack of water availability, or slips. Offshore drilling and production delayed or shut in by increased weather events m,l Engineering anticipates environmental conditions. Carbon policy provides for review of climate issues in strategic and operational decisions. Opportunities Commercial Global reduction in high carbon sources such as coal is increasing demand for natural gas as a lower carbon partner to renewables. s,m,l Strategic preference for natural gas. Support for our joint venture partners pursuing low carbon innovations on sites. TCFD category Recommendation Summarised in this document at Targets and Metrics Disclose the metrics and targets used ti assess and manage relevant climate-related risks and opportunities where such information is material. 4.2 Disclose the metrics used by the organisation to assess the climate related risks and opportunities in line with its strategy and risk management process. 4 Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas emissions, and the related risks. 5.1 The company does not report Scope 3 emissions as the information does not exist. Describe the targets used by the organisation to manage climate-related risks and opportunities and performance against targets. 5.2, 5.3 5. Measurements and targets The TCFD recommends disclosure of: – the measures we use to assess climate-related risks and measure them, – emissions (by Scope 1, 2 and 3), and – the targets that we use to manage climate-related risk. Measures used to assess risks and measures them are described in section 4, above. Scope 1 and 2 emissions are disclosed below in Table 5.1. Scope 1 and 2 emissions relate to Cue’s share of emissions from production facilities in New Zealand, Australia and Indonesia and corporate office activities. The Company does not report Scope 3 emissions as the information is not obtainable from end users, and reporting would double count emissions across the economies in which we operate. Taskforce on Climate–Related Financial Disclosures (TCFD) Statement continued 26 Cue Energy Resources Limited Annual Report 2023
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