Our governance framework applies to nature and extends from the board of directors through executive and senior management to the operations in each of our business units (BUs). The Public Policy and Sustainability Committee (PPSC) of the Board of Directors has oversight of nature-related risks and impacts that could affect business activities and performance. The PPSC reviews and monitors policies, programs and practices with respect to nature-related trends and risks. In 2023, the PPSC received nature-related briefings on the following topics:

• Nature-related risks identified in the annual sustainable development (SD) risk assessment process.

• Evolving expectations for sustainability disclosures and assurance.

• Briefings on the Convention on Biological Diversity's 15th Conference of the Parties Global Biodiversity Framework, trends in nature-related financial reporting, as well as progress updates on nature-related business priorities.

• Review of nature-related sustainability achievements in 2023 and priorities for 2024.

The executive-level Sustainability and Public Policy Executive Council (SPEC) has the highest level of management responsibility and accountability for nature-related priorities. Their role is to review and assess nature-related strategy, policies, programs, practices and processes as well as risks and impacts prior to PPSC review.

Read more about sustainability governance.