POWER OF 3: WHY SCOPE 3 EMISSIONS MATTER a speci昀椀c decarbonisation pathway. Detailed frameworks are evolving for the value chain of each sector. Over time, we believe this could allow for a genuinely connected alignment of emissions reductions targets from the top of the value chain to the bottom, which is critical to achieving net-zero goals. 1. Source: GHG Protocol Corporate Value Chain Reporting Standard 2. Source: sciencebasedtargets.org, Scope 3: Stepping up science-based action 3. See: Headine statements from the Summary for Policymakers: Global Warming of 1.5C 4. Source: europa.eu, Corporate sustainability reporting 5. Source: SEC.gov, SEC Proposes Rules to Enhance and Standardize Climate-Related Disclosures for Investors 6. Source: HKEX, Exchange Publishes Consultation Paper on Enhancement of Climate Disclosure under its ESG Framework 7. Source: Task Force on Climate-Related Financial Disclosures, TCFD Recommendations 8. Source: IFRS, Exposure Draft IFRS S2 Climate-related Disclosures 9. Source: SBTi’s stated requirement for a Scope 3 target: If a company’s relevant Scope 3 emissions are 40% or more of total Scope 1, 2, and 3 emissions 10. Source: sciencebasedtargets.org, SBTi Corporate Net-Zero Standard 11. Source: sciencebasedtargets.org, Companies Taking Action – as at 25 July 2023 12. Source: Our World in Data, Emissions by sector 13. Source: sciencebasedtargets.org, Catalyzing Value Chain Decarbonization 14. Source: CDP – Supply chain 15. Source: sciencebased targets.org, New Supplier Engagement Guidance: Unlocking the Power of Supply Chains for Decarbonization 16. Source: coZEV, About coZEV 17. Source: CDP, Scoping out: Tracking nature across the supply chain 18. For reference, we collectively emit around 50 billion tonnes of CO2e each year, Our World in Data, 2021 19. Source: Global GHG Accounting & Reporting Standard, Financed Emissions Part A 20. The ISSB referred speci昀椀cally to Asset Management & Custody Activities, Commercial Banks and Insurance 21. Source: IFRS, Climate-related disclosures - Financed and facilitated emissions 22. Source: European Commission, Sustainability-related disclosure in the 昀椀nancial services sector 23. Source: European Insurance and Occupational Pensions Authority, July 2022, Principal adverse impact and product templates for the Sustainable Finance Disclosure Regulation 24. Source: Global GHG Accounting & Reporting Standard, Financed Emissions Part A, page 41 25. Source: Food Emissions 50 | Ceres 26. Allianz Global Investors Sustainability and Stewardship Report, page 92 Investing involves risk. The value of an investment and the income from it will 昀氀uctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. 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