36.6. Climate risks

The impact of climate risks on the Group operations has been described in the report on the operations of the Group.

As at the date of preparing the financial statements for 2022, owing to its specifics and nature, the climate issues did not affect:

• the balance of inventories disclosed in the balance sheet;
• the sales revenue disclosed;
• the presentation of financial instruments;
• the information and estimates related to non-current assets (there were identified no non-current assets whose useful life or residual value would be expected to change due to the above issues);
• the estimated cash flows or other assumptions made for the estimation of the impairment of assets in compliance with IAS 36;
• the recognition of provisions, including provisions for land reclamation;
• the expected credit losses for the purpose of measuring write-downs of receivables (due to the fast turnover of receivables);
• the assumption of operations continuation in the foreseeable future, i.e. in the period of at least 12 months of the balance-sheet date.

In the test assumptions, no alternative scenarios for cash flows related to climate changes have been included.

There were no agreements of major importance whose terms and conditions would refer to climate issues.