Covia’s Task Force on Climate-Related Financial Disclosures (TCFD) scenario analysis represents a thorough examination of potential future states, exploring the financial implications of various climate-related risks and opportunities on our operations, value chain, and strategic planning. By aligning the analysis with TCFD’s recommendations, Covia is better able to understand and respond to climate-related risks and opportunities.

Key highlights of the TCFD scenario analysis include:

1. In-Depth Risk Assessment: Covia conducted a detailed evaluation of physical and transitional risks across multiple climate scenarios, ranging from 1.5°C to 4.7°C warming scenarios.
2. Strategic Adaptation: The findings from the scenario analysis will be instrumental in how Covia shapes operations, supply chain management, and product development to support the move toward a low-carbon economy.
3. Enhanced Disclosure: By embracing the TCFD framework, Covia has strengthened its commitment to transparent reporting and providing stakeholders with detailed insights into the approach to addressing climate-related risks and opportunities.
4. Innovation and Resilience: The comprehensive approach to TCFD scenario analysis equips Covia to effectively integrate climate considerations into the strategic planning, in line with the commitments to resilience and innovation.

Earlier this year Covia released its 2023 ESG Report. Covia has also published Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) disclosure reports. For more information, see Covia’s Climate Risk and Opportunities Report (2023 TCFD Report).

Covia

Covia

At Covia, we are committed to being more than just a leading provider of high-performance mineral and material solutions – we believe that our company can make a positive difference in the world. This belief is what drives our environmental, social and governance (ESG) strategy, which is influenced by both our journey as an organization and the events in the world around us.

Our commitment to operating as a responsible corporate citizen has been embedded into every aspect of our business for decades and serves as the foundation for Covia’s ESG initiatives. From our operations to our Team Members and the communities in which we live and work, we continue to define WHAT WE’RE MADE OF as more than the materials we produce, but the impact we can make in every interaction.

In 2021, we enhanced our approach toward accelerating ESG performance by developing our formal GOALS THAT INSPIRE: ESG 2030. These 10 goals, broken into our three core areas - Environmental Stewardship, Positive Social Impact and Responsible Governance & Ethics - were developed by Covia Team members across the company and are designed to drive tangible and measurable progress in areas where we can make the most impact.

We have the commitment and strategy in place to drive meaningful progress and we are pledging to make a positive differences for our people, our planet and our communities.

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