Sands conducted an initial internal climate risk assessment in 2021. The assessment concluded that the following risks are relevant, but not material to Sands at this time. In 2022, we employed a third-party climate scenario modeling tool to validate prioritization of physical climate risks, in addition to other publicly available climate risk assessment tools. Additionally, we refined our carbon pricing risk based on International Energy Agency (IEA) Net Zero Emissions by 2050 and its stated policy scenarios. TCFD I NDEX Board Responsibilities Board of directors The board has delegated authority on ESG-related issues to the nominating and governance committee. The committee provides updates to the board on pertinent issues as needed. Nominating and governance committee The nominating and governance committee oversees ESG risk by reviewing and assessing the company’s ESG goals, policies and programs, and assists the board in overseeing succession plans for senior management. Audit committee The audit committee, among other responsibilities, oversees enterprise risk management. It reviews the company’s major financial risk exposure and discusses with management the steps taken to monitor, control and manage these exposures, including the company’s risk assessment and risk management guidelines and policies. Compensation committee The compensation committee oversees the company’s compensation policies to determine whether they create risks that would reasonably or likely have a material adverse effect on the company. A portion of performance-related compensation for the senior leadership team is linked to strategic ESG goals for the company. Compliance committee This committee assists the board in overseeing the company’s compliance program, including compliance with the laws and regulations applicable to our business, the company’s Code of Business Conduct and Ethics, and other policies. Executive Leadership Chief executive officer and chief operating officer The company’s chief executive officer and chief operating officer provide overall direction for our People, Communities and Planet corporate responsibility pillars and oversee our performance in these areas. Working with the board, the most senior members of our executive team are responsible for implementation of our ESG policies and programs. Chief financial officer The company’s enterprise risk management (ERM) program, which includes ESG-related risks, is the responsibility of our chief financial officer (CFO). Chief sustainability officer Our chief sustainability officer is responsible for sustainability- and climate-related topics, projects and initiatives, and leads the global sustainability team. Management Level ERM committee The ERM committee comprises senior leaders across the organization, including property CFOs, compliance officers, operational leaders and audit services group leaders. The committee meets quarterly in advance of the audit committee meeting and company earnings announcement to discuss the ERM program. In these meetings, the committee addresses ESG risks, such as fraud, that may represent material impact to the company and our financial reporting. Disclosure committee The disclosure committee comprises members from Deloitte, the audit services group, corporate accounting, tax, legal, investor relations and property CFOs. The committee meets in advance of earnings announcements and financial statement filings each quarter to discuss items that may impact required disclosures for the company, including ESG disclosures. Governance APPENDIX GOVERNANCE SOCIAL ENVIRONMENT OUR PERFORMANCE INTRODUCTION OUR STRATEGY 103 CLOSING
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