Based on the described context, the transition scenario framework the Group used as a basis for the impact analysis regarding the risks and opportunities inherent to climate change considers two scenarios: one “inertial” (Reference), established mainly based on current or announced policies as well as specific internal assumptions regarding the evolution of individual variables of interest, and a more ambitious one (Brighter Future), in line with reaching the Paris goals, which presupposes stricter objectives in terms of reductions in carbon dioxide emissions and increases in energy efficiency, as well as the possible acceleration in the reduction in cost of some technologies.