RWS AR 23 Final Single pages - Flipbook - Page 49
TCFD pillar
Governance
Strategy
Risk
management
Metrics and
targets
Cross-reference or
reason for noncompliance
Comments and next steps
1. Board oversight of
climate-related risks and
opportunities
Page 50
Compliant
The Board will continue to review the climate-related
risks and opportunities routinely.
2. Management’s role in
assessing and managing
climate-related risks and
opportunities
Page 50
Compliant
We will continue to develop the roles and
responsibilities of management in assessing and
managing climate-related risks and opportunities
across the Group.
3. Climate-related risks and
opportunities in the short,
medium, and long term
Pages 51 to 53
Compliant
We have completed a scenario analysis in respect of
climate-related risks and opportunities across the
short-, medium-, and long-term, and will continue to
review and update the respective scenarios.
4. Impact of climate-related
risks and opportunities on
our business, strategy, and
昀椀nancial planning
Pages 54 to 55
Compliant
We have completed a scenario analysis in respect of
climate-related risks and opportunities and these are
being incorporated into 昀椀nancial planning. In FY24 we
will further integrate our climate-related risk mitigation
into our strategic planning and forecasting, and
continue to review how climate change may impact our
medium-term strategy.
5. Resilience of the
organisation’s strategy,
taking into consideration
di昀昀erent climate-related
scenarios, including a 2°C
or lower scenario
Page 56
Compliant
Based on current weather 昀氀uctuations, we have made
a number of assumptions associated with those states
and what could be experienced.
6. Our processes for
identifying and assessing
climate-related risks
Page 57
Compliant
The Executive Team will continue to be responsible for
identifying potential climate-related risks which will be
assessed as part of the Group's risk process.
7. Our processes for
managing climate-related
risks
Page 57
Compliant
Climate change risks are managed through our risk
management process and after they are assessed, risk
pro昀椀les are produced at a business level with Boardlevel oversight.
8. Describe how processes
for identifying, assessing,
and managing climaterelated risks are integrated
into the organisation’s
overall risk management
Page 57
Compliant
We will continue to monitor and manage our climaterelated risks and ensure that each risk is monitored and
managed appropriately.
9. Disclose the metrics
used by the organisation to
assess climate-related risks
and opportunities in line
with its strategy and risk
management process
Page 58
Compliant
Although we were able to report against our carbonrelated performance metrics for Scope 1 and 2 in FY22,
due to changing and improving our methodology for
capturing and measuring Scope 3 in FY22, our Scope
3 carbon emissions changed signi昀椀cantly from FY21.
We are now able to report against our carbon-related
performance metrics for Scope 3.
10. Disclose Scope 1, Scope
2 and, if appropriate, Scope
3 greenhouse gas (GHG)
emissions and the related
risks
Page 58
Compliant
This is our fourth year we have disclosed our Scope 1, 2
and 3 emissions.
In FY22, we expanded the tracking and reporting of our
Scope 3 indirect emissions to enable us to set sciencebased targets.
11. Describe the targets
used by the organisation
to manage climate-related
risks and opportunities
and performance against
targets
Page 59
In FY23 we prepared our science-based targets for
submission to the SBTi for validation and will continue
the process of developing and reporting on our climaterelated performance metrics.
TCFD recommended
disclosures
Through our climate scenario analysis we believe our
business is resilient in the short-, medium-, and longterm. In FY24 we will continue to review how climate
change may impact our strategy.
Partially compliant
– we prepared our
science-based targets
in FY23 and these will
be submitted to the
SBTi for validation
early in FY24.
We will continue to monitor regularly our progress to
reduce our carbon emissions.
STRATEGIC REPORT
RWS Holdings plc — Annual Report 2023
49
