AP2 expects companies to assess climate risks – transition risks and physical risks – and opportunities, based on their business models. The companies are expected to communicate publicly on the items listed below, on their website and/or through their annual reporting.

AP2’s expectations of companies

Commitment and goals	Net zero commitment by 2050. Targets for emission reductions.
Emissions	Report absolute emissions, for Scope 1, 2 and 3. Report emission intensity, for Scope 1, 2 and 3.
Transition plan/Climate plan	Report a clear climate plan that outlines how the company will achieve emission reductions, with sufficient measures to reach emission targets. Report the share of green revenues and a plan for how these should increase.
Capital allocation towards net zero	The company must provide a clear picture of the company’s capital allocation towards net zero by 2050 at the latest. In the EU, this takes place via the taxonomy reporting under the heading Green Capex.
Corporate governance	The company’s board should ensure that climate risks and opportunities are integrated into the company’s strategy and risk management. Report on climate policy lobbying.
Transparency	Report based on TCFD (Task Force on Climate-Related Financial Disclosures).