Classify the text into the following 29 labels: 'Impacts on suppliers and other parties in registrant's value chain', 'Physical climate risks', 'Climate risks Materiality', 'Progress on achieving climate-related targets', 'Impacts on business operations', 'Reporting to Board', 'Impacts on mitigation and adaptation activities', 'Adoption of Transition Plan', 'Impacts on products and services', 'Internal carbon price and Carbon pricing as a measure of climate risk', 'Plan on how to achieve the targets', 'Transition risks', "Board's oversight of climate-related targets and goals", 'Targets as a part of the business model', 'NO', 'Emissions. Scope 2', 'Identified impacts as part of business strategy', 'Emissions. Scope 1', 'Climate Risk Identification and Assessment', 'Climate risk management and integration', 'Impacts on expenditure for research and development', 'Use of carbon offsets', "Management's Oversight and Expertise", "Board's oversight", "Transition's Plan Cost", 'Adoption of scenario analysis', 'Management Oversight Process', 'GHG Methodology', 'Time Horizons of Risks', and return the answer as the corresponding climate disclosure label.
text: Zurich could be exposed to transition risks if it fails to manage changing market conditions and customer needs as part of the transition to a low-carbon economy, resulting in asset impairment, opportunity cost and lost market share. In a transition scenario, industries unable to de-carbonize could experience declining profitability and lack of re-financing, which could lead to a lack of maintenance with increasing rates of outages and equipment break-downs that translate into higher insurance losses. Failure to manage transition risk could also lead to reputational impacts, both internal and external, resulting from a failure to deliver on publicly stated commitments. Although not considered material in the near-term, the increasing frequency of climate-related legal action suggests climate-related litigation could represent a significant potential risk in the long term.
label: Transition risks