Akamai has aligned on maintaining strong climate governance structures that ensure accountability, drive sustainability initiatives, and align with global best practices. A key element of this governance approach has been focused on adhering to the recommendations of the TCFD, which has served as a foundation for our climate-related reporting and risk management strategies. With the announcement in 2023 that the TCFD would be evolving into the IFRS S1 and S2 standards, we are actively planning for the future.

Integrating the ISSB Disclosure

Akamai recognizes the recent shift toward the International Sustainability Standards Board (ISSB) disclosures, specifically IFRS S1 and S2. These standards, building on TCFD’s foundational principles, represent a new benchmark for corporate sustainability reporting that we are preparing to adopt in the future.

As we plan our transition from TCFD to the IFRS standards, this signifies Akamai’s readiness to adapt to evolving best practices in climate and sustainability governance. By supporting an ISSB-aligned disclosure, Akamai will continue to uphold transparency and accountability, leveraging the comprehensive guidance of IFRS S1 and S2 to enhance our climate and sustainability reporting. This shift aligns with Akamai’s dedication to responsible corporate governance and underscores our focus on building a resilient, sustainable future for our business and stakeholders.

Akamai’s Governance and Transparency Efforts

The TCFD framework has provided a structured approach for companies to disclose climate-related risks and opportunities, covering governance, strategy, risk management, and metrics. Akamai aligned with TCFD to strengthen our climate governance in several ways, and we feel this will be translatable to the IFRS S1 and S2 when we transition.

Transparency in Climate-Related Risk and Strategy

Adopting TCFD standards allows Akamai to transparently communicate how we assess and manage climate-related risks, enhancing trust among stakeholders. By disclosing both physical risks (e.g., extreme weather events affecting infrastructure) and transitional risks (e.g., policy shifts toward lower carbon), Akamai demonstrates how climate considerations are embedded in our long-term strategic planning and operational resilience.

Accountability Through Defined Governance Structure

Under TCFD guidance, Akamai has established clear oversight responsibilities within our board and executive leadership for climate-related decisions. Regular reviews ensure that climate considerations are integrated into overall business risk assessments, and specific accountability channels are set up to monitor progress against our climate goals. This governance structure also enables Akamai to identify emerging risks and respond proactively, further reinforcing our dedication to responsible corporate governance.

Enhancing Investor Confidence and Meeting Regulatory Expectations

With growing global regulatory interest in climate-related disclosures, TCFD compliance positions Akamai favorably in both U.S. and international markets. Investors increasingly seek robust climate governance as a marker of a sustainable, future-focused company. By aligning with TCFD, Akamai not only meets investor expectations but also anticipates forthcoming regulatory requirements, including the EU Corporate Sustainability Reporting Directive (CSRD) and similar U.S. and global mandates.

Driving Long-Term Value and Stakeholder Trust

Transparent climate governance is integral to sustaining long-term value. Through our TCFD-compliant disclosures, Akamai continues to reinforce our priority to address climate change responsibly, which resonates with customers, employees, and communities. By proactively addressing climate risks and reporting progress in line with TCFD, it has helped Akamai to foster stakeholder trust, which we believe is crucial for ongoing business resilience and success.

Continuous Improvement

The TCFD framework is a strategic tool that has enabled Akamai to continually assess and enhance our climate governance. As Akamai prepares for the IFRS S1 and S2 transition, we reaffirm our alignment with the latest global standards, supporting our mission of robust climate governance and transparency. This evolution reflects our leadership in sustainability and readiness to meet the changing needs of investors, regulators, and the global community.