"Physical risks and opportunities To assess the physical climate-related risks, Vopak has analyzed the potential impact of three IPCC scenarios for 2050 (RCP 2.6, 4.5/6.0, 8.5), which are based on global warming of respectively 2 degrees, 3 degrees and 4.5 degrees Celsius. The sensitivity analysis demonstrated potential acute and chronical impact on our current assets in the following areas by 2050: Possible damage and business interruptions from storms and hurricanes in the Gulf of Mexico, South China and Southeast Asia Rising sea levels possibly affecting our operation in Houston (United States) and Jakarta (Indonesia) Rising sea levels and drought possibly affecting our operation in Sydney (Australia) and Spain Smog and extreme heat possibly affecting health and operation in Canada and California (United States). The consequence of these potential developments could be an increase in (preventive and maintenance) investments and an increase in insurance costs for these areas. These concern not only Vopak, but also other actors in concerned port areas."