You can view or download a copy below. So whether that's in the way that we transact our business with them, whether that's digitally or over the phone, or in the simplicity of the products that we provide to them. See the highlights from our 2021 Annual Report and download the full details. These forward looking statements may be identified by the use of forward looking terminology, or the negative thereof such as outlook, plans, expects or does not expect, is expected, continues, assumes, is subject to, budget, scheduled, estimates, aims, forecasts, risks, intends, positioned, predicts, anticipates or does not anticipate, or believes, or variations of such words or comparable terminology and phrases or statements that certain actions, events or results may, could, should, shall, would, might or will be taken, occur or be achieved. He will join a growth business, with a multi-channel distribution model and a distinctive geographic footprint, This resulted in higher gas prices and led to over a third of all the UKs energy suppliers going out of business over a short period of time. Of course, cash is key to Aviva's results, Sarah, and the cash remittances are up 22%. Sustainability. | We are Future. 10 Annual saving from full year 2021 costs, based on full year 2021 exchange rates. Well, today we're announcing that the final dividend for 2021 is just over 22p, which is 5% up on 2020. The Group transacts business in locations where it is exposed to a risk of overt or effective expropriation or nationalisation. Identifying, quantifying and managing risk is complex and challenging. We continue to invest in the business including extending Pulse beyond a consumer app so that it covers Prudentials key Wednesday, 10 August. We operate under a Group Tax Policy, annually reviewed by the Board, which sets out the Groups commitment to comply with all applicable tax laws, rules and regulations, without exception, and to be characterised as a good corporate fiscal citizen. Annual report 2021 Annual report 2021 collapsed. We have a dedicated programme to enhance the monitoring and security of our Operational Technology (OT) platforms. We saw robust margins in the BPA business and volumes at over 6 billion, which I think is great. increase in Aviva Investors external net flows to 3.3bn. The first half of the year saw considerable macroeconomic volatility, characterised in many markets by lower equity index levels, However, there can be no assurance that such policies, standards, procedures, and controls will adequately protect the Group against fraud, bribery and corruption, market abuse, sanctions breaches or other unlawful activities. One of the areas that we've long spoken about is our desire to really bolster our capabilities in the advice space and Succession Wealth does just that. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets. However, the overall credit quality of our counterparty portfolio significantly improved in 2021 as global economic growth improved, Covid-19 restrictions eased and, in particular, energy prices rebounded strongly. We see so many opportunities in the markets in which we operate, UK, Ireland and Canada, in the wealth space and in the general insurance space and the opportunity for the Life company to work together with Aviva Investors I think really plays to that. demonstrating our financial flexibility following recent actions. So we've simplified the portfolio, now we need to simplify the businesses within the portfolio and you'll have seen we've made great progress on the cost reduction. Our scenario planning and stress testing may accordingly prove to be optimistic, particularly in situations where material negative events occur in close proximity. Glencore continues to cooperate with a previously disclosed investigation by the Office of the Attorney General of Switzerland (OAG) into Glencore International AG for failure to have the organisational measures in place to prevent alleged corruption. Led by the Head of Industrial Assets and the Industrial Leads across each commodity department, management teams at each industrial operation are responsible for implementing processes that identify, assess and manage risk. During 2021, we continued investing for customers and clients by developing innovative solutions to help them save for the lifestyle they want. The legal system and dispute resolution mechanisms in some countries in which we operate may be uncertain, meaning that we may be unable to enforce our understanding of our rights and obligations under these laws. The Group continues to invest in its sustainability risks assurance process and its focus continues to be on the Groups HSEC catastrophic hazards. While the Committee cannot forecast with certainty the cost, extent, timing or terms of the outcomes of the investigations, the Committee presently expects to resolve the US, UK and Brazilian investigations in 2022. Solvency II operating own funds generation, R, Estimated Solvency II Shareholder cover ratio,R, Operational carbon emissions reduction since 2010. WebExplore Jostens personalized college and high school class rings, customizable yearbooks, championship rings, graduation products, and more to celebrate big moments this year. The Investigations Committee (Committee) of the Board manages the Groups responses to these investigations. While our Group policies and standards apply to all our businesses, we tailor our community approach to be relevant and appropriate to the local context. Resource nationalism continues to be a challenging issue in many countries. Except as required by applicable regulations or by law, Glencore is not under any obligation and Glencore and its affiliates expressly disclaim any intention, obligation or undertaking, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Our operations around the world can have direct and indirect impacts on the environment and host communities. major insurer globally to commit to Net Zero by 2040, 2021 pre-tax profits invested in communities, invested in UK infrastructure and real estate. Copyright 2023 Surperformance. Create your future with us. This will be available from approximately 10.00pm HKT 3.00pm UKT 10.00am ET on 10 August until 6.59am HK time on 25 August 2022 11.59pm UKT 6.59pm ET on 24 August. See note II of the Additional financial information for further explanation. approved our application to early adopt the RBC framework in Hong Kong, and this is incorporated within our GWS position at 30 Prudential plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Hong Kong Insurance Authority and other regulatory authorities. Severe operating or market difficulties may result in impairments, details of which are recorded in note 7. 6. What Stress Management Skills Should I Learn? This year we have made good progress on our journey to transform our performance. The benefits of global policy responses to tackle the impacts of the pandemic have helped reduce the negative consequences on the global economy. ransomware), nation-state activity, increasing degree of connectivity and a material increase in monetisation of cybercrime. business processes, from enabling agents by using tools designed to enhance productivity, to fulfilment of policy sales and We can also reduce the production of any commodity within our portfolio in response to changing market conditions. The Group understands an emerging risk as a risk that has not yet fully crystallised but is at an early stage of becoming known and/or coming into being and expected to grow in significance in the longer term. The Board assesses and approves our overall risk appetite, monitors our risk exposure and overall evaluation of internal controls. Centrica plc registered office: Millstream, Maidenhead Road, Windsor SL4 5GD, UK Tel: +44 (0)1753 494000, Registered in England & Wales No 3033654 VAT registration number: GB 684 9667 62. WebBristol Water acquisition. These and other important factors may, for example, result in changes to assumptions used for determining results of operations or re-estimations of reserves for future policy benefits. These are: Find out more about our responsible initiatives. Industrial operations are inherently dangerous. download the annual report or find out how to invest in bp. Can you tell me a bit more about those? The government deployed public security to return law and order in the region around the operation without harm to community members, security forces or our workforce. Our corporate factsheet provides an overview of Centrica's business, our portfolio and our People & Planet Plan. This priority is reflected in the principles of our sustainability programme and related guidance, which require regular, open, fair, and respectful communication, zero tolerance for human rights violations, fair remuneration and, above all, a safe working environment as outlined in the Our people section on page 34 and our website at: glencore.com/careers/our-culture. In addition, mark-to-market exposures in relation to hedging contracts are regularly and substantially collateralised (primarily with cash) pursuant to margining agreements in place with such hedge counterparts. health, safety, environment, including catastrophic hazards. Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com, Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com, John Burton t: +41 41 709 26 19 m: +41 79 944 54 34 john.burton@glencore.com, Nicola Leigh t: +41 41 709 27 55 m: +41 79 735 39 16 nicola.leigh@glencore.com, Lionel Mateo t: +41 41 709 28 47 m: +41 79 152 09 05 lionel.mateo@glencore.com. Constant exchange rates are calculated by translating prior period results using the current period foreign Post 2035, we have set ourselves the ambition to achieve, with a supportive policy environment, net zero total emissions by 2050. WebNMB Bank Plc., is a commercial bank in Tanzania, the second-largest economy in the East African Community. Glencore plc (Glencore or the Company) has today: published its Annual Report for the year ended 31 December 2021 (Annual Report) on its website www.glencore.com as required by DTR 4.1.3 R and 6.3.5 R; and those disclosed in the Risk Management section of the 2021 Annual Report. These include those risks which would threaten the business model, future performance, solvency, or liquidity of the Group. We have regular contact with our key counterparties and, in the vast majority of cases, deliveries and payments have continued in the normal course of business. The Board actively manages and monitors the Group's risks, financial exposure and related internal controls to mitigate these risks. A leading savings and investment company with a long-term outlook, A place where you can be exceptional every day, "We have delivered on our demerger commitments while making exciting progress in a number of areas, both organically and through strategic acquisition., "It is a testament to the resilience of our business model and the determination of our people that we have nonetheless delivered another robust performance, demonstrating our consistent strength in capital generation and increasing our shareholder Solvency II ratio.. WebAnnual Report 2021; GSK delivers strong Q3 2022 sales of 7.8 billion +18% AER, +9% CER and Total EPS 255.9p +>100% AER, +>100% CER; Adjusted EPS of 46.9p +25% AER, +11% CER GSK plc. Zillah Byng-Thorne has been CEO since 2014. Our strategy is driven by our purpose to help our customers live sustainably, simply and affordably. 12.00am ET on Wednesday, 10 August 2022 using the following link: https://www.investis-live.com/prudential/62d51c1fd9438014009aa544/hebae. Analyst recommendations: Adobe, American Tower, Bohoo, DoorDash,.. Jefferies Raises On The Beach Group To Hold From Underperform, Lifts PT. You are about to enter the website of our US affiliate PPM America, an indirect subsidiary of Prudential plc of the United Kingdom. Mitigating factors - We seek to diversify our counterparties and to ensure adherence to open account limits. We also expect that ransomware will remain an area of heightened threat focus. LEGAL AND COMPLIANCE For legal and compliance risk, see Ethics and Compliance section on page 43, and the laws and enforcement risk on page 75. 12 GWS capital resources in excess of the Group minimum capital requirement attributable to the shareholder business, before allowing for the 2022 first cash interim We operate in many countries across the globe. It should not be relied on by private investors and the information should not be construed as a financial promotion under the Financial Conduct Authoritys (FCA) Conduct of Business rules. Glencore's companies employ around 135,000 people, including contractors. in EEV under our active economic methodology. M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. Access resources for journalists and Aviva followers. Our purpose is 'with you today, for a better tomorrow'. ", Throughout 2021 weve been working hard to steer your company in the right direction. communities and Sustainability is fundamental to our strategy and culture. However, in every case these do not attempt to be an exhaustive list. See the highlights from our 2021 Annual Report and download the full details. ESEF file with a built-in iXBRL tag viewer (.xHTML), Downloadable zip file of the xHTML document (.zip). It should be noted that the credit ratings agencies make certain adjustments, including a discount to the value of our Readily Marketable Inventories, so that their calculated net debt is higher. The cost of cooperating with investigations and/or defending proceedings can be substantial. We have been engaging with DRC authorities to try to recover control of Chabara following a peaceful relocation of the ASM cooperatives. Annual Competition Report June 2022. The Group regularly back-tests its VaR to establish adequacy of accuracy and to facilitate analysis of significant differences, if any. are not less than the Group Minimum Capital Requirements (GMCR). Were the first major insurer worldwide to target Net Zero carbon by 2040. All rights reserved. Centrica plc is an international energy services and solutions business. WebFuture plc is an international multimedia company established in the United Kingdom in 1985. representing a cover ratio of 548 per cent6 Such impacts are uncertain, being particularly dependent on long-term changes in the energy mix related to power generation and transportation, as well as consumption efficiencies, behavioural change and co-ordinated implementation of government policy and regulation frameworks, which will materially fall outside the four-year period selected for assessment of longer term viability. M&Gs social housing team recently financed 180 homes at The Mill near Cardiff city centre let through a combination of market rent and discounted or social rent. It's not so complex today. We believe everyone at Aviva should be able to be themselves. Glencore devotes significant resources to developing and implementing policies and procedures to identify, monitor and manage these risks. Such factors include, but are not limited to, current and future market conditions including fluctuations in interest rates and exchange rates, inflation (including interest rate rises as a response), sustained high or low interest rate environments, the performance of financial and credit markets generally and the impact of economic uncertainty, slowdown or contraction, (including as a result of the Russia-Ukraine conflict and related or other geopolitical tensions and conflicts) which may also impact policyholder behaviour and reduce product affordability, asset valuation impacts from the transition to a lower carbon economy, derivative instruments not effectively mitigating any exposures; global political uncertainties, including the potential for increased friction in cross-border trade and the exercise of laws, regulations and executive powers to restrict trade, financial transactions, capital movements and/or investment; the impact of Covid-19 outbreaks, including adverse financial market and liquidity impacts, responses and actions taken by governments, regulators and supervisors, the impact on sales, claims and assumptions and increased product lapses, disruption to Prudentials operations (and those of its suppliers and partners), risks associated with new sales processes and technological and information security risks; the policies and actions of regulatory authorities, including, in particular, the policies and actions of the Hong Kong Insurance Authority, as Prudential's Group-wide supervisor, as well as the degree and pace of regulatory changes and new government initiatives generally; given its designation as an Internationally Active Insurance Group, the impact on Prudential of systemic risk and other group supervision policy standards adopted by the International Association of Insurance Supervisors; the physical, social and financial impacts of climate change and global health crises on Prudential's business and operations; the impact of not adequately responding to environmental, social and governance issues (including not properly considering the interests of Prudentials stakeholders or failing to maintain high standards of corporate governance); the impact of competition and fast-paced technological change; the effect on Prudential's business and results from, in particular, mortality and morbidity trends, lapse rates and policy renewal rates; the timing, impact and other uncertainties of future acquisitions or combinations within relevant industries; the impact of internal transformation projects and other strategic actions failing to meet their objectives or adversely impacting the Groups employees; the availability and effectiveness of reinsurance for Prudentials businesses; the risk that Prudential's operational resilience (or that of its suppliers and partners) may prove to be inadequate, including in relation to operational disruption due to external events; disruption to the availability, confidentiality or integrity of Prudential's information technology, digital systems and data (or those of its suppliers and partners) including the Pulse platform; any ongoing impact on Prudential of the demerger of Jackson Financial Inc.; the increased operational and financial risks and uncertainties associated with operating joint ventures with independent partners, particularly where joint ventures are not controlled by Prudential; the impact of changes in capital, solvency standards, accounting standards or relevant regulatory frameworks, and tax and other legislation and regulations in the jurisdictions in which Prudential and its affiliates operate; and the impact of legal and regulatory actions, investigations and disputes. M&G plc is the direct parent company of The Prudential Assurance Company Limited. An additional 2 million was added to the fund in February, to offer customers more support throughout 2022. We will look to drive value from this through further deepening the emotional connection to the brand and leveraging this across our businesses. Given 2021s elevated implied market volatilities, together with statistically higher commodity correlations and the nature / extent (e.g. This announcement should be read in conjunction with and is not a substitute for reading the full Annual Report. Monitoring and reporting are the responsibility of the Group Risk Functions and the Heads of corporate functions who provide regular updates to the Board and its Committees covering various risks and the performance of the relevant controls in place. Some of our mining operations are in remote areas where they are a major employer in the region. We've actually rebuilt our financial strength, which is something that we committed to do,less than 20 months ago. We are innovating to meet the changing needs of our customers. The framework identifies material matters and supports our ongoing assessment of what matters most to our business and to our stakeholders. Governmental and other authorities have commenced, and may in the future commence, investigations against the Group (including those listed in note 23 to the financial statements) in relation to alleged non-compliance with these laws, and/or may bring proceedings against the Group in relation to alleged non-compliance. Risk movement in 2021 Decrease Risk appetite - Low. For M&G and Prudential UK customers and policyholders: In October 2019, Prudential plc separated its UK operations and, as a result of this separation, Prudential UK is now owned by M&G plc. exchange rate ie current period average rates for the income statement and current period closing rates for the balance sheet. WebThe ICO will be required to report annually on how it has discharged its functions in line with the new framework (discussed in section 5.2 (strategy, objectives and duties)). Alongside a focus on offering great guest experiences and expert owner support, we are building a stronger, more agile company, investing in our brands, sustainable operations and business, and looking to future growth with confidence. 1 Continuing operations represents the Asia, Africa and head office functions of the Group following the demerger of Jackson. The study asked 20,000 adults from five countries how their sustainability concerns impact their choices in-store and at home. Our industrial activities are subject to a level of significant residual risk throughout each operations life cycle, from initiation through development, operation and/or expansion and ultimate closure. Prudential plc, incorporated and registered in England and Wales. We are at the forefront of taking action against climate change, with a market-leading ambition. Delivered good sales growth despite another challenging year for the travel sector, ANNUAL REPORT & ACCOUNTS 2022 | ON THE BEACH GROUP PLC03. In the event that we cause or contribute to a negative impact on human rights, we strive to provide appropriate remedy to those affected in line with the UNGPs. Where desirable and possible, credit exposures are to be covered through credit mitigation products. Our purpose and strategy - and what to expect if you join us. Offered free Covid-19 tests in an industry first, First mainstream holiday company to offer free lounge and fast track on bookings. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom. Glencores Nickel operations in New Caledonia continued to face particular operating challenges; in 2021 there was a significantly extended shutdown on a furnace because of the pandemic leading to an extended run time on the other furnace resulting in difficulties being experienced with this furnace. We seek to apply the UN Voluntary Principles on Security and Human Rights in regions where there is a high risk to human rights from the deployment of public and private security forces. This attraction and retention of highly qualified and skilled personnel can be challenging, especially in locations experiencing political or civil unrest, or in which employees may be exposed to other hazardous conditions. copper, cobalt, and nickel for their use in electric vehicles and batteries more broadly), taking into consideration the transition to a low carbon economy. Industrial metals prices remained at strong levels throughout the year. Description and potential impact - While we adjust our minimum internal liquidity threshold from time to time in response to changes in market conditions, this minimum internal liquidity target may be breached due to circumstances we are unable to control, such as general market disruptions, sharp movements in commodity prices or an operational problem that affects our suppliers, customers or ourselves. Although it is our policy to identify and, where appropriate and practical, actively manage risk, our policies and procedures may not adequately identify, monitor and quantify all risks. Annual report archive; Financial downloads Financial downloads collapsed. And finally, our fourth priority is sustainability. So how did Aviva's core businesses perform in 2021? glencore.com/sustainability/ climate-change, glencore.com/sustainability/community-and-human-rights, published its Annual Report for the year ended 31 December 2021 (Annual Report) on its website www.glencore.com as required by DTR 4.1.3 R and 6.3.5 R; and. VaR remains viewed in the context of its limitations; notably, the use of historical data as a proxy for estimating future events, market illiquidity risks and risks associated with longer time horizons as well as tail risks. Developments - Our cyber security monitoring platforms frequently detect attempts to breach our networks and systems. Mark FitzPatrick, Group Chief Executive, said: Our resilient operational performance demonstrates the strength of our well An investment that will accelerate EnergyNests international growth plans to deliver CO2 and energy cost savings to even more industrial customers, and will also help us make progress towards our target of net zero carbon emissions across our investments by 2050. Regulatory regimes applicable to resource companies can often be subject to adverse and short-term changes. a prolonged downturn in the price and demand of commodities most impacting Glencores operations. Developments The Group has been cooperating extensively with the relevant authorities in order to resolve as expeditiously as possible the government investigations disclosed in note 23 to the financial statements. Our risk management framework allows us to identify, assess and mitigate HSEC-HR related risks. While demonstrating our ability to effectively manage an evolving pandemic, we have not wavered in our focus to build an even stronger IHG, by growing our brands, enhancing our guest and owner offer, supporting our people and communities, and protecting our planet. WebVirgin Money UK PLC 2022 Annual Report and Accounts (PDF, 11,054KB) Clydesdale Bank PLC - 2022 Annual Report and consolidated financial statements (PDF, 2,867KB) Pillar 3 report To continue reading it, access the original document here. Soft launch in Denmark, Raised 67m as a result of a share placing. The Groups shareholder surplus above the Group Minimum Capital Requirement (GMCR) was $19.4 billion12, We have a very strong ESG proposition and we're making sure that we would build that into the products that we develop. We have a geographically diverse business, operating in both developed and developing countries in an array of different contexts. News And Media 2022. Total number of Prudential plc shares in issue as at 30 June 2022 was 2,749,314,856. d. We are expected to announce our Half Year 2022 Results to the Hong Kong Stock Exchange and to the UK Financial Media at 12.00pm HKT 5.00am UKT 12.00am ET on Wednesday, 10 August 2022.. Registered in England and Wales No. Our net funding at 31 December 2021 was $30.8 billion (31 December 2020: $35.4 billion). If you look at the growth results, they're really strong, but also we've seen the cost reduction that we've committed to. Data from investis. This enables risks to be tackled and mitigated at an early stage by the team with the relevant level of expertise. The webcast will be available to replay afterwards using the same In addition, existing labour agreements may not prevent a strike or work stoppage. Failure to perform well may have long-term negative impacts for host communities and erode trust in the integrity of our organisation. The Group remains aware of the extent of coverage of risk exposures and their limitations. The outlook from S&P (BBB+) is also stable. Find out about our purpose, priorities and products. We have implemented a Group Ethics and Compliance programme that includes risk assessments, a range of policies, standards, procedures, guidelines, training and awareness, monitoring and investigations. transactions. Risk movement in 2021 Increase Risk appetite - High. Ultimately we believe this will help drive greater customer centricity and efficiency. Counterparty credit and performance. So we're really confident that the macro growth opportunities and the Aviva capabilitiessit side by side. making a robust assessment of emerging and principal risks, monitoring risk management and internal controls, Industrial and Marketing risk functions (Group Risk Functions), the implementation of several new health and safety measures at our industrial sites and offices around the globe, further mandatory shutdowns imposed by governments and shifts to. The Board mandates its ECC, HSEC and Audit Committees to identify, assess and monitor the principal and emerging risks relevant to their respective remits. when compared with the corresponding period in 2021. believe we will deliver on our purpose to help people get the most out of life and also build value for our shareholders over the long-term.. Depending on the duration of the conflict and the sanctions regime, global commodity flows may change materially from their pre-2022 situation. We're also today announcing an updated dividend policy. The Group aligns its established EEV and free surplus framework with the Groups We will build a leading Wealth business by strengthening our Workplace and Retail propositions. Challenges for market participants may include availability of funding to ensure access to raw materials, ability to finance margin payments and heightened risk of contractual non-performance. consideration of the potential impact of adverse movements in macroeconomic assumptions and their effect on the above key financial KPIs and ratios whichcould increase the Groups access to or cost of funding. WebANNUAL REPORT 2021/22 ANNUAL REPORT 2021/22. The Audit Committee considers and approves the risk-based Internal Audit plan, areas of audit focus and resources and is regularly updated on audits performed and relevant findings, as well as the progress on implementing the actions arising. 2 Total markets is 5. So given Aviva's performance and outlook, what does this mean for shareholder dividends? We routinely conduct third party penetration tests to independently assess the security of our IT systems. We anticipate that supply chain cyberattacks through which legitimate third party software is manipulated in an attempt to spread malware or gain access to systems will increase. Local cost control measures are complemented by global procurement that leverages our scale to seek to achieve favourable terms on high-consumption materials such as fuel, explosives, and tyres. We remain focused on the significant risks facing our industry arising from operational catastrophic events and take steps to implement appropriate controls to mitigate them. To make it easy for people to find, book and enjoy their perfect beach holidays, technology, low-cost base and strong customer-value proposition to provide a structural challenge to legacy tour operators, we continue our journey to disrupt the retail of beach holidays. Any successful claims brought against the Group could result in material damages being awarded against the Group, the cessation of operations, compensation and remedial and/or preventative orders. We also engaged parliamentarians across the UK to ensure they were up to date with the situation and provided information leaflets alongside drop-in sessions, to help answer their questions while raising awareness of the support available for constituents. In addition, global connectivity means that local issues can quickly escalate to a regional, national and global level potentially resulting in reputational damage and social instability. View Results, presentations and webcasts View information about the Unilever Investor Event taking place on 8 December 2022. Transcript Internal Audit reviews these areas of potential risk, and suggests controls to mitigate exposures identified. SafeWork focuses on identifying and managing the hazards in every workplace and is built on a set of minimum expectations and mandatory protocols, standards, behaviours, and safety tools. In particular, the Committee considers Internal Audits main conclusions, its KPIs and the effectiveness and timeliness of managements responses to its findings. During 2021 the Group issued $2.95 billion in US markets and EUR 1.1 billion debt under its EMTN programme. On an annual basis, Internal Audit also performs reviews at the direction of senior management and the Audit Committee. This requires the faithful representation of the effects of transactions, other events and conditions in accordance with the definitions and recognition criteria for assets, liabilities, income and expenses set out in the International Accounting Standards Boards Framework for the preparation and presentation of financial statements. In 2021 we reviewed and/or updated our Social Performance, Human Rights and Security Standards. This results in a residual risk for compliance with our HSEC&HR policies and standards, as well as with external laws and regulations. A perception that we are not respecting human rights or generating local sustainable benefits could have a negative impact on our ability to operate effectively, our reputation with stakeholders, our ability to secure access to new resources, our capacity to attract and retain the best talent and ultimately, our financial performance, Description and potential impact - Respecting human rights and building strong relationships are fundamental to the current and future viability of our business. Share price data delayed by 15 minutes. We will also continue to reduce our property footprint and focus on the simplification of our organisation through optimised outsourcing and improved cost discipline. Together these constitute the material required by DTR 4.1.12 R and 6.3.5 R to be communicated to the media in unedited full text through a Regulatory Information Service. This detailed total government contributions in 2020 of $5.8 billion. We seek to mitigate the risk of breaching applicable laws and external requirements through our risk management framework. Glencore uses a one-day VaR approach based on a Monte Carlo simulation with a weighted data history computed at a 95% confidence level. dividend is 5.74 cents per share, up 7 per cent11, equating to one third of the prior year full-year dividend of 17.23 cents per share. Near term confidence in stability of global demand (and thus indirectly FX rates for relevant producer countries) hinges on many factors, particularly those that relate to the prospects of global economic recovery and growth, including U.S./China trade relationship, political/economic tension across the CIS and the ongoing disruption caused by the coronavirus pandemic. No statement in this document is intended as a profit forecast or a profit estimate and past performance cannot be relied on as a guide to future performance. MARKETING RISK (MR) MANAGEMENT Glencores marketing activities are exposed to a variety of risks, such as commodity price, basis, volatility, foreign exchange, interest rate, credit and performance, liquidity and regulatory. The response to the pandemic has varied by jurisdiction, with authorities imposing different requirements, often changing as the pandemic evolves. Important notice concerning this document including forward looking statements This document contains statements that are, or may be deemed to be, forward looking statements which are prospective in nature. This may cause production to be reduced or to cease and may further result in personal injury or death, third party damage or loss or require greater infrastructure spending. The structure of the transaction should result in some recovery of the residual economic value in the asset whilst reducing operating and country risks that had proven to be challenging. We have set ourselves a short-term target of an absolute 15% reduction of our total emissions (Scope 1, 2 and 3) by 2026, and a medium-term target of an absolute 50% reduction of our total emissions by 2035. In this section, we have sought to update our explanations, reflecting our current outlook. In accordance with UK Financial Reporting Council guidance, we define a principal risk as a risk or combination of risks that could seriously affect the performance, future prospects or reputation of Glencore. Sian grew up learning about the threat of climate change and is pleased to be investing for her future in a way that will help contribute to a better world. Distributed by Public, unedited and unaltered, on 21 December 2022 13:38:03 UTC. Each of the core businesses made a really great contribution to 2021. Mitigating factors - We endeavour to operate our businesses according to high legal, ethical, social, and human rights standards, and to ensure that our presence in host countries leaves a positive lasting legacy (see sustainability risks later in this section). We seek to build enduring and trusting relationships by engaging openly and honestly and participating as an active member of society. It means we have less systems. On a quarterly basis we monitor and review the progress to close out the corrective actions and address any outstanding issues with the local management teams. Although there are signs that Covid-19-related impacts in many of our markets are stabilising, over the remainder of the year we By doing so, we Build loved and VAR One of the tools used by Glencore to monitor and limit its primary market risk exposure, namely commodity price risk related to its physical marketing activities, is the use of a value at risk (VaR) computation. Important factors that could cause these uncertainties include, but are not limited to, those disclosed in the Risk Management section of the 2021 Annual Report. Mitigating factors Our approach is to minimise the local detrimental impacts of our business, engage openly and honestly to build lasting relationships and foster socio-economic resilient communities. Quick links. Throughout this results announcement discontinued operations refers to the US operations (Jackson). The strategic priorities below show where we are heading and our focus for 2022. https://www.prudentialplc.com/. We are expected to announce our Half Year 2022 Results to the Hong Kong Stock Exchange and to the UK Financial Media at 12.00pm HKT 5.00am UKT 12.00am ET on Wednesday, 10 August 2022.. Though the pandemic again tested our industry, our resilient business model and peoples desire for travel have shone strongly. And the next phase is about delivering Aviva's promise. These reports cover various topics, including Group VaR, credit exposure, material risks from the risk register, internal audit findings, compliance monitoring, HSEC-HR matters and HSEC Assurance. I'm very excited that this gives us a great enhancement to our current capabilitiesin this area. You are about to enter the website of MandG Investments Southern Africa (Pty) Ltd a direct subsidiary of M&G plc. We are doing this through a combination of venture building, where we work closely with InsurTechs and FinTechs to build new customer propositions, in-house rapid proposition development and venture capital investing. While the transition to renewables technologies continues to accelerate, the global economic recovery from Covid-19 has highlighted the ongoing importance in the short term of traditional fuels in meeting global energy needs. We employ a skilled workforce of 90,500 people in more than 40 countries. Through strong relationships with stakeholders we endeavour to secure and maintain our licences to operate. The Directors confirm that the Annual Report and accounts taken, as a whole, is fair, balanced and understandable, and provides the information necessary for shareholders to assess the performance, strategy and business model of the Company. Their employing company may not be able to satisfactorily renegotiate its collective labour agreements when they expire and may face tougher negotiations or higher wage demands than would be the case for non-unionised labour. As well as the ongoing work of the Board and its Committees on the various major areas of risk, the Board undertakes a complete review of the Group's principal and emerging risks in its main Q4 meeting, which is then updated and considered in subsequent meetings for the purposes of this report and the interim report. New business profit was (5) per cent9 Expertly produced. A transition to a low-carbon economy and its associated public policy and regulatory developments may lead to: These cost increases are likely to reduce demand for fossil fuels and could lead to coal assets no longer being economically viable. This Identifying and managing risks to the safety and health of our people is essential for their long-term wellbeing. Contact details for M&G and Prudential UK customers and policyholders. Developments - Some of our customers and suppliers are experiencing financial difficulties particularly arising from Covid-19 or the recent material price volatility in some commodity markets. Therefore, to find the best way to make contact, please visit www.pru.co.uk/contact-us, For further information on the M&G plc group, please visit the M&G website: www.mandgplc.com. The continued operation of our existing assets and future plans are in part dependent upon broad support, our social licence to operate, and a healthy relationship with the respective local communities see further Community Relations and Operating risks concerning workforce disputes. Glencores MR is managed at an individual, business and central level. Mitigating factors - We are committed to ensuring the safety and wellbeing of our people, communities, and environment around us. R Symbol denotes key performance indicators used as a base to determine or modify remuneration. To achieve external benchmarks including the National Equality Standard and LGBT Great equality index. Our medium-term target is consistent with the midpoint of Intergovernmental Panel on Climate Changes 1.5C scenarios, and with the Net Zero scenario set out by the International Energy Agency. Click here to proceed. Further information is available on our website at: glencore.com/sustainability/community-and-human-rights. We have sought to support our communities by augmenting communication programmes to promote prevention measures, providing basic sanitation and medical materials and supporting local health systems and services. Mostly this entails emphasising certain risks more strongly than other risks rather than the elimination of, or creation of, risks. So even after returning 4.75 billion, we have the capacity and the confidenceto invest in the business and what we show today is that we will invest 300 million to accelerate some of the great growth opportunities that there are in the market. The MR function strives to continuously enhance its stress and scenario testing as well as improve measures to capture additional risk exposure within the specific areas of the business. Letter to shareholders . Our activities depend on digital capabilities for industrial production, efficient operations, environmental management, health and safety, communications, transaction processing and risk management. Health, Security, Safety and the Environment. LONGERTERM VIABILITY In accordance with the requirements of the UK Corporate Governance Code, the Board has assessed the prospects of the Groups viability over the four-year period from1 January 2022. Risk movement in 2021 - Stable Risk appetite - Low. All rights reserved. Certain tranches of the refinancing were longer dated than the instruments they replaced, up to 30 year maturities. 1 Controllable costs from continuing operations, excluding cost reduction implementation and IFRS 17 costs. Mitigating factors - We seek to integrate climate considerations, such as energy and climate policies in countries where we operate and sell our products, expectations of our value chains, and the various commitments to achieve the goals of the Paris Agreement, into our strategic decisions and day-to-day operational management. 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