Teck Resources Limited (Teck) is a leading Canadian resource company focused on responsibly providing the metals essential for global development and the global energy transition. The company operates a smelter and copper mines and zinc mines across the Americas.
Teck leverages Manifest Climate to rapidly improve and iterate on its climate disclosures. With changing external expectations and regulations, the climate team needs to adapt to new disclosure requirements quickly — and having Manifest Climate on hand makes this process much faster.
How would you describe Manifest Climate?
I’ve essentially got an online tool with the analytical capabilities to tell me how my climate disclosures are looking, and how they compare to expectations and standards. It references a whole bunch of inventories on best practices from other companies, and keeps an eye on trends in the climate space. It’s a tool that finds the gaps in our disclosures and helps us come up with the right solutions.
Chris Adachi, Director of Climate Change @ Teck
The climate reporting pressures facing Teck
Like all natural resources companies, climate change presents a wide range of risks and opportunities for Teck. As the company’s Director of Climate Change within the company’s Sustainability and External Affairs department, Chris Adachi is responsible for all things climate-change-related. With his department, he provides advice, recommendations, and analysis to the Board of Directors and executive leadership team, and also provides operational support to interpret regulations and prepare for the physical impacts of climate change.
“In the last five or six years, we’ve seen increasing scrutiny,” says Adachi. As the world of investors became increasingly interested in climate-related information, companies like Teck have worked to fully respond to investor demands for climate transparency.”
With disclosure requirements growing and climate trends changing so quickly, the team turned to Manifest Climate to help them quickly assess the robustness of their climate disclosures, close remaining gaps, and take inspiration from best practice examples on the market.
How Teck uses Manifest Climate
The Teck team has their hands full dealing with internal company changes at the same time as external reporting commitments. As the team are now in the thick of the report-writing phase, informed by requirements such as IFRS S2, there are two ways Manifest Climate makes the entire team’s job easier.
Benchmarking
Being able to benchmark their disclosure performance against other relevant companies is a critical help for Adachi’s team. Getting a sense of how other companies are addressing disclosures, and accessing what best practice looks like at the click of a button, is game-changing for the team. “You’re quickly able to see multiple examples of how people have set up their strategy or disclosures – this is quite helpful,” says Adachi. “The ability to say, ‘here’s your gap, and here’s what good looks like’ — that’s a huge value-add.”
Gap assessments
“The real value added is in the gap assessment against the different standards,” says Adachi. “Being able to go in, export the assessment, and get a sense of how Manifest has assessed our practices and mapped our existing disclosures against the criteria is quite helpful.” The team uses their gap assessments as a roadmap of how they’re performing against the requirements. Being inside a software tool (rather than a commissioned report), the assessments are always available and up to date, allowing the team to also benchmark their disclosures against their own historical data.
The disclosure assessment tool allows the Teck team to move fast — an advantage given that reporting is just one item on their list of responsibilities. “The speed at which you can evaluate your disclosure against good practice standards is really the core value for us,” Adachi explains. Ultimately, the combination of gap assessments and best practice benchmarking creates a powerful feedback loop for the Teck team.
Manifest Climate validates Teck’s confidence to push forward in their disclosures
Although the team is rarely ‘surprised’ by the results of their gap assessments, Manifest Climate gives them “more comfort and confidence in the assessment we’re making around our gaps, and the robustness of our report,” says Adachi. “It’s clearly structured and communicated, which makes the whole task a bit more manageable and makes it easier for me to take action.” For Adachi, Manifest Climate offers that encouraging third-party confirmation that helps to reinforce the team’s own thoughts around their disclosures, and offers new ideas to help inspire new approaches.
Give your climate team a competitive edge with Manifest Climate
Manifest Climate is the leading Climate Intelligence Software that provides decision-makers with climate-related insights and recommendations to inform decisions, seize opportunities, and mitigate risk.
Manifest Climate uses industry-leading AI models to create comparability from qualitative climate information faster, more accurately, and more consistently than humans.
Issuers, service providers, and financial institutions choose Manifest Climate for ease of use, in-house climate expertise, and depth of qualitative climate data.
With Manifest Climate, teams reduce time spent on manual research by 99%, improving precision and consistency as a result.
