15 2023 CLIMATE REPORT ROYAL GOLD Overview Governance Strategy Risk Management Metrics and Targets Appendices Strategy In This Section Climate strategy Climate scenario analysis Climate scenario 1: Current policies Climate scenario 2: Delayed transition Climate scenario 3: Net Zero 2050 Water risk Future water risk Physical risk summary Transition risk summary Financial risk Climate change risk summary Climate-related opportunities Organizational resilience to climate change impacts Site visit , British Columbia, Canada