Our approach to the low-carbon transition will be steered by our commitment to set science-based emission reduction targets as well as to reaching net-zero emissions in our proprietary investment portfolio by 2050. To this end, we will set ourselves long-term and intermediary emissions reduction targets for our business operations as well as our proprietary investment portfolio in line with the Paris Agreement’s target of limiting global warming to 1.5°C. We expect publication of carbon reduction targets for our investment portfolio as part of the AOA towards the end of 2020, since the target-setting methodology for financial institutions is yet to be defined by sectoral initiatives like SBT for Financial Institutions within the SBTi.