Task Force on Climate-Related Financial Disclosure (TCFD)

In alignment with the UK Listing Rules – which mandates climate-related disclosure for all UK listed companies – we have produced a comprehensive TCFD Report. Our report covers the four pillars recommended by TCFD: governance, strategy, risk management and metrics/targets, and the 11 disclosures recommended by TCFD except as noted below.  

To ensure consistency across our report, we adhered to section C of the TCFD Annex, titled “Guidance for All Sectors”.  

As a result the following are documented as partially consistent, with further detail available within this report: 

• Strategy B and C – these disclosures have not been fully met because our priority this period has been to manage a change in year end financial reporting and we did not have the bandwidth to do financial implications of climate scenarios in our financial planning. Our aim is to begin, this in FY25 as part of developing our net zero journey and set credible science-based targets.  

• Metrics and targets B – for FY24 we are reporting full Scope 3emissions for our business, incorporating for the first time employee commuting and purchased goods and services. There are caveats on this as some of our business travel is a challenge to report against due to limitations of the expense system we had in place. We have invested in a new system to improve not only reporting but also the health, safety and wellbeing of our colleagues. With this improved data collection, we aim to be consistent in our FY25 report. 

Our assessment indicates a low risk of exposure to physical and transitional climate changes, thanks to our business model. However, we acknowledge the high importance of mitigating greenhouse gas emissions, which emerged as a priority from stakeholder feedback as part of our ‘ongoing assessment’ of double materiality in accordance with ESRS.  

In FY24 Planet Mark, calculated and verified our GHG emissions. We have appointed a new partner – Positive Planet – for FY25 as we prepare to map our net zero journey and set credible science-based targets.  

We recognise the considerable opportunities presented by the growing climate-focused market. Our collaborations with clients in industries such as electric vehicles, renewable energy, operational technology and other climate-friendly technologies underscore our readiness to seize these opportunities for sustainable growth.