We describe Elisa’s processes for managing climate and increasingly also nature related dependencies, impacts, risks, and opportunities, as recommended in TCFD& TNFD- Risk & impact management, B.
As an example, in our climate risk assessment, we recognise flooding risks from high precipitation. This is a risk to those data and tele centres that are located below sea level. Extreme weather conditions, such as extreme precipitation, increase in the future. Elisa takes insurance to cover flooding risks for our telefacilities.
To ensure the availability of renewable energy at a reasonable price, Elisa will utilise also power purchase agreements. Utilisation of solar power at base station sites and data centres is another opportunity example.
Elisa is continuously looking for ways to improve risk management and actively tries to learn from external best practices. It is crucial to engage internal key stakeholders in climate risk management.
Energy and emission targets, progress status and necessary actions are reviewed quarterly. The management process, where the scope is operational risk management, includes assessment, treatment, monitoring and review of operational risks. The goal is to manage the risk level via acceptance, mitigation or avoidance of risks.
Not all climate risks will be impactful in the short term. They can nevertheless cause significant risks in the long term, and therefore it is important to acknowledge the effect of such risks even though they would not lead to immediate action. Prioritisation of mitigation actions related to network and data centre projects is mainly based on return on investment. If there are actions that have a longer payback time, but are otherwise significant, they can be assessed separately.