In terms of the transition, potential risks include: – policy and legal risks linked to GHG emissions, energy, water and biodiversity which may place constraints on the business, for example, possible higher costs of energy, more stringent resource regulations and tighter limits on permits; – technology risks including challenges in integrating new technologies with existing systems; – competing business outcomes, for example, greater electrification in our operations will improve health and safety outcomes but may increase GHG emissions in the short term until electricity supply is decarbonised; – possible short-term costs to transition to lower-emission technologies; – increased cost of raw materials due to embedded GHG emissions pricing; and  – reputational risks including shareholder action if we do not act in line with expectations.