X5 Retail Group. Годовой отчет за 2022 год (на английском) - часть 16

Compliance statement

TCFD compliance 

statement and index

ANNEX

TCFD COMPLIANCE STATEMENT AND INDEX

X5 Group took into consideration the documents referred 
to in the updated guidance found in Implementing the 
Recommendations of the Task Force on Climate-related 
Financial Disclosures, published in October 2021.

In the table below, we include cross-references to disclosures 
made elsewhere within the Report and offer explanations for why 
we partially comply with some of the TCFD recommendations 
and recommended disclosures. X5 is set to cover most of the 
partially compliant disclosures in future reporting.

X5 Group fully complies with the 

following TCFD recommendations 

and recommended disclosures:

Governance – 

(a) and (b)

Strategy – 

(a) and (c)

Risk management – 

(a), (b) and (c)

Metrics and targets – 

(b) and (c)

X5 Group partially complies with the 
following TCFD recommendations and 
recommended disclosures:

Strategy – 

(b)

Metrics and targets – 

(a)

242

page 92

The Supervisory Board meets at least four times per year and discusses climate-
related issues through the Audit and Sustainable Development and Innovation 
Committees. 

The Executive Board is in charge of properly managing progress against the 
Company’s strategy and the sustainable development strategy as well as 
associated risks, including all climate-related risks and opportunities. 

By reviewing the detailed reports submitted by relevant committees, the 
Supervisory Board keeps track of all key projects and activities, including 
progress measured against the sustainable development strategy, the 
implementation of climate-related mitigation measures, and project outcomes.

a)

Describe the Supervisory 
Board's oversight of climate-
related risks and opportunities.

page 92

The Group has set up a Sustainable Development Committee at the Executive 
Board level. The Committee is responsible for implementing decarbonisation 
measures and developing action plans to mitigate climate-related risks, which are 
then submitted to the Sustainable Development and Innovation Committee, as 
well as the Supervisory Board, for approval. 

Representatives of business units implement the proposed measures and 
changes within the Group’s sustainability agenda.

b)

Describe management’s role in 
assessing and managing climate-
related risks and opportunities.

page 93–97

In 2022, we have qualitatively reassessed the impact of our identified 
climate-related risks, results may be found on pages 93–97.

The Group periodically (less than 
once a year) assesses the impacts 
of climate-related risks and 
opportunities on X5’s financial 
performance through 2030.

X5 Group plans to disclose 
information on this metric 
in future disclosures.

b)

Describe the impact of climate-
related risks and opportunities 
on the organisation’s businesses, 
strategy and financial planning.

Strategy

page 92–96

The Group’s climate risk assessment is aligned with three time horizons: 2023, the 
short-term horizon; 2023–2030, the medium-term horizon; and 2030–2050, the 
long-term horizon. 

The Group analyses its transition and physical risks for each business unit 
separately in order to glean a comprehensive understanding of risk exposure 
across different business activities and geographies. A full list of identified climate-
related risks is published in our 

 on pages 68–72.

2021 Sustainability Report

a)

Describe the climate-related 
risks and opportunities the 
organisation has identified over 
the short, medium and long term.

ANNEX

TCFD COMPLIANCE STATEMENT AND INDEX

243

TCFD disclosure

Summary of the climate-related financial disclosures

Explanation for non-compliance

Next steps

Governance

Cross-reference for the 
disclosure in the Report

page 97

c)

Describe how processes for 
identifying, assessing and 
managing climate-related risks 
are integrated into the 
organisation’s overall risk 
management.

Our climate risk assessment process aligns with the Group’s general risk 
assessment and is closely reviewed on a regular basis during the Supervisory 
Board’s strategy sessions.

Risk management

page 97

Climate-related risks, including physical and transition risks, are incorporated 
in the general risk register and are reviewed annually. 

The Group’s climate risk assessment process is aligned with its general risk 
assessment. 

The results are plotted on a scale, representing risk impact from the lowest 

possible impact (green) to the most significant possible impact (red).

a)

Describe the organisation’s 
processes for identifying and 
assessing climate-related risks.

page 93–97

Our decarbonisation initiatives feed into measures to mitigate climate risk to 
ensure our sustainable development strategy remains adequate and effective 
in scope. 

The sustainable development strategy is based on cost-effective 

decarbonisation measures that are set to benefit X5’s long-term value.

b)

Describe the organisation’s 
processes for managing climate-
related risks.

page 93

By analysing how climate-related risks affect us, we unlock a more comprehensive 
understanding of how the Group’s strategy should be built, as well as how we 
should mitigate the consequences of potential issues in the future. 

The risk assessment used the following climate scenarios from the IPCC’s Sixth 

Assessment Report (AR6): the 1.5 °С scenario (scenario SSP1-2.6), the 2.0 °С 
scenario (scenario SSP2-4.5) and the 4.0 °С scenario (scenario SSP5-8.5). 

X5 Group pays particular attention to materiality scores in the SSP2-4.5 scenario. 
We consider SSP2-4.5 the primary scenario for our industry, and we believe it will 
have a long-term effect on the Group’s strategic resilience and estimated financial 

impacts.

c)

Describe the resilience of the 
organisation’s strategy, taking 
into consideration different 
climate-related scenarios, 

including a 2 °C or lower 

scenario.

ANNEX

TCFD COMPLIANCE STATEMENT AND INDEX

TCFD disclosure

Summary of the climate-related financial disclosures

Explanation for non-compliance

Next steps

Cross-reference for the 
disclosure in the Report

244

page 98

In 2022, the Group regularly reviewed qualitative results relating to climate-
related risks and opportunities. 

When charting its pathway to net zero, X5 established a feasible internal carbon 
price to aid in strategic decision-making. 

X5 Group has set climate-related KPIs for management to help motivate them to 
implement our 2023 and 30x30 agenda. The KPIs include the LTI programme, 
which aims for a 10% carbon footprint cut by 2023 vs a 2019 baseline. The KPIs 
also include other sustainability metrics, such as boosting the share of packaging 
that is recycled, as well as waste management initiatives, which are vital for 
decreasing Scope 3 emissions. Overall, climate-related KPIs hold a 5% weighting 
for total management team KPIs.

X5 Group has set an internal carbon 
price; however, the methodology for 
establishing its value is being revised.

X5 Group plans to disclose internal 
carbon price information in future 
disclosures.

a)

Disclose the metrics used by the 
organisation to assess climate-
related risks and opportunities in 
line with its strategy and risk 
management process.

page 98

Since 2019, the Group has been measuring GHG emissions (Scope 1, Scope 2 
and Scope 3) in accordance with the GHG Protocol. In 2021, this assessment 
included GHG emission sources at key business units that make up at least 95% 
of all GHG emission sources. The 2022 GHG emissions calculation results and a 
full description of the calculation methodology will be published in our 2022 
Sustainability Report.

b)

Disclose Scope 1, Scope 2, and, 
if appropriate, Scope 3 
greenhouse gas (GHG) 
emissions and the related risks.

page 98

c)

Describe the targets used by the 
organisation to manage climate-
related risks and opportunities 
and performance against targets.

The long-term goal of the strategy is for the X5 Group to achieve carbon 
neutrality by 2050, in line with the Paris Agreement and Russian decarbonisation 
goals. As one of the steps to attain this objective, X5 has introduced the 30x30 
agenda, which encompasses the following medium-term targets for 2030:

A 30% reduction in GHG emissions intensity (Scope 1 and Scope 2) per 
square metre of selling space against a 2019 baseline

A 30% share of renewable energy in X5 operations against a 2019 
baseline

A 30% reduction in the ratio of waste generated to retail sales against a 
2019 baseline

ESG and climate considerations are also being incorporated into its short-term 
corporate strategy to 2025, which is currently under development. 

X5’s GHG reduction targets are based on the methodology and requirements of 
the Science Based Targets initiative (SBTi) and look to achieve net zero by 2050. 

More detailed information on GHG emissions will be published in our 2022 
Sustainability Report.

ANNEX

TCFD COMPLIANCE STATEMENT AND INDEX

TCFD disclosure

Cross-reference for the 
disclosure in the Report

Summary of the climate-related financial disclosures

Explanation for non-compliance

Next steps

Metrics and targets

245