RWS AR 23 Final Single pages - Flipbook - Page 52
Task Force on Climate-related Financial Disclosures (continued)
Technology
Time horizon
Risks
Opportunities
Short-term
Due to the nature of the RWS business o昀昀erings,
it has identi昀椀ed data centres as being one
of the most signi昀椀cant sources of its energy
consumption and carbon emissions. To reduce
this impact, they have committed to sourcing
100% renewable energy contracts wherever
practicable and to investigate the viability of
increasing the implementation of physical
renewable technology across its portfolio in the
short-term e.g. solar PV.
Opportunities for implementing new technology
is likely to include improved energy e昀케ciency,
which will translate to direct cost savings
and reduced carbon emissions. For example,
improved energy e昀케ciencies are expected
through the signi昀椀cant upgrades to the RWS
IT infrastructure currently being implemented
through a Group-wide digital transformation
programme.
Medium-term
Our technology use constitutes the majority of its
energy consumption and associated Scope 1 and
Scope 2 carbon emissions. Innovation focused on
low/no carbon technology forms a central part
of RWS sustainability agenda and climate change
goals. To aid with this, signi昀椀cant upgrades to IT
infrastructure are being implemented through a
Group-wide digital transformation programme,
which includes the upgrading of existing
equipment and software.
In response to global events such as the Covid-19
pandemic and the war in Ukraine, RWS has
adapted practices by enhancing IT infrastructure
improvements and enabling agile working
practices. This in turn has reduced direct costs
and encourages further innovation to improve
resource diversi昀椀cation.
Long-term
Risks and opportunities from emerging
technology are always considered. To
manage this, RWS constantly investigates
new technologies which have the potential
to improve energy e昀케ciencies and reduce its
carbon footprint. Examples of this can be seen
with recent technological innovations in solar PV
e昀케ciencies.
As RWS continues to transition to carbon net zero
and implements energy e昀케ciency improvements
across its portfolio, its products and services will
become even more low carbon, providing RWS
with the opportunity to improve its marketing and
attract new clients.
Market and Reputation
Time horizon
Risks
Opportunities
Short-term
Increasingly, clients are aware of environmental
issues and have a strong preference for
businesses which demonstrate good climate
change and environmental management
practices. Our climate change management
strategies are aligned with various frameworks
and guidance such as the TCFD. In addition, RWS
continues to demonstrate transparency through
annual CDP disclosures and published reports.
RWS has been preparing science-based targets
for submission and veri昀椀cation and is aiming
that these will be in place within the next 12
months. This, in conjunction with meeting client
expectations, will have a positive impact on
reputation and in identifying further opportunities
to provide new services to emerging markets.
Medium-term
Carbon net zero commitments and sciencebased targets are gaining traction and quickly
becoming a standard for responsible businesses.
If businesses are unable to demonstrate this level
of commitment, they risk losing clients.
Identifying market and reputational risks aids
RWS in continually reviewing and improving its
climate change management practices. This
bene昀椀ts clients and can provide competitive
advantage in the marketplace.
In FY22, RWS committed to carbon net zero by
2050 and is in the process of implementing shortterm science-based targets aligned with the SBTi.
Long-term
52
The commitment to becoming carbon net zero
is long-term. This will require regular updates
and carbon emission calculations. If RWS is
unable to achieve these targets or demonstrate
adequate progression, there is a potential risk of
losing clients. RWS continually reviews its energy
consuming assets to identify ways to reduce
carbon emissions.
RWS Holdings plc — Annual Report 2023
STRATEGIC REPORT
Showing good progress towards achieving
carbon net zero will likely attract new clients and
generate additional revenue.
