Regarding the new S.06.04 QRT we kindly request your clarification on "Climate change-related physical risk - KPI" (R0020). There seems to be an inconsistency in the definition of the denominator between DPM Dictionary and ITS on supervisory reporting. The former (EIOPA_DPM_Dictionary_2.8.0.xlsx, Sheet PP, Name x80) states "Investments exposed to physical risk TO TOTAL OF INVESTMENTS ratio" while the latter ("ITS_reporting_AnnexII_solo instructions_S.01_to_S.13_reviewed 20220615.docx") states "Proportion of the Solvency II value of property exposed to physical risk, in relation TO TOTAL OF PROPERTY". Following the first statement we would compare investments exposed to physical risk to the sum of "Investments (other than assets held for index-linked and unit-linked contracts)" and "Property, plant & equipment held for own use" (respectively cells R0070 and R0060 of S.02.01 QRT), the second statement instead would compare property exposed to physical risk to total value of property. Which of the two statements is correct?