Task force on Climate

The Board of Directors (BoD) determines BOBST’s corporate strategy and is responsible for the general risk evaluation process and the internal control system. In 2022, an update was provided to the BoD regarding the upcoming Swiss legislation on climate reporting, including an initial awareness training and the first activities undertaken to formalize the management of climate-related risks and opportunities at BOBST. The BoD signs and approves the sustainability report, including the TCFD part, from this report onwards.

To successfully consider climate-related risks and opportunities, BOBST will adapt roles, responsibilities, and reporting processes where relevant. Further, specific training sessions on the topic will be held at the executive and board level to foster their knowledge and support their responsibilities.

BOBST’s business activities might be affected by the impacts of climate change. These could be physical impacts, such as impacts from increased severity of extreme weather events or impacts from the transition towards a low-carbon economy, such as potential pressure on the availability of raw materials. In 2021, BOBST performed an initial ad-hoc review of potential climate-related risks and opportunities. One opportunity identified is, for example, reducing energy consumption and emissions from the machines.

BOBST’s key priority is identifying the most material climate-related risks and opportunities over different time horizons. Further, the Group will aim to assess their potential impacts on the business.

BOBST has a Group-wide risk management system in place that is based on the COSO Enterprise Risk Management framework. During the past year, there was analysis of how to best integrate climaterelated risks and opportunities into the framework and how to consider their specific characteristics.

The objective for 2023 is to formally embed climate-related risks and opportunities within the existing framework and processes. A key component is an annual process for identifying and assessing risks, including several dialogues with Group managers and Business Unit representatives. Based on the outcome of this process, BOBST will define mitigation measures where deemed necessary.

BOBST’s Greenhouse gas (GHG) inventory shows that most carbon emissions occur downstream in its value chain (see the detailed breakdown of the scope 1, 2, and 3 emissions and the comparison to the previous year on page 21 in the Sustainability report 2022).

Bobst Group will communicate its SBTi reduction targets in its sustainability report 2023 and then closely monitor and report on its progress and achievements. Additionally, based on the annual risk identification and assessment process results, BOBST will consider additional metrics and targets each year to reduce climate-related risks and leverage climate-related opportunities.