ESG 23 Final Single pages - Flipbook - Page 81
INVESTMENT IN R&D
ACQUISITIONS AND DIVESTMENTS
Technological advancements have been identi昀椀ed as a
primary risk in the Group’s risk management programme.
RWS scans for and reviews innovations in technology
that can improve e昀케ciencies while reducing energy
consumption. As virtual workplaces become more
common and its clients span across the globe, important
consideration is given to new, innovative ways to deliver
products and services as e昀케ciently as possible. RWS
is committed to investing in growth areas, technology
products and infrastructure with a view to accelerate
organic growth.
In FY23 RWS acquired Propylon Holdings Limited
(Propylon), a leading legal and regulatory content
management solution provider, for €30.1 million on
a cash-and-debt free basis with additional deferred
payments of €6.45 million due on each of the 昀椀rst and
secondary anniversary of completion. The acquisition was
funded from existing cash resources of RWS and bank
facilities.
Throughout FY23, RWS has been investing in a technology
transformation programme which will reduce the carbon
emissions generated from its business operations.
Investing in this technology transformation is a key
component of the RWS strategy for becoming carbon net
zero.
OPERATIONS
RWS has noted a signi昀椀cant increase in the number of
clients requesting robust climate-change management
from their suppliers. To ensure RWS meets or exceeds
these expectations, it complies with all relevant climatechange regulations and actively improves its climate
change management wherever possible. RWS holds itself
to high accountability standards. As a result in FY22 RWS
improved the accuracy of its footprint by improving data
collection and GHG emissions to include both operations
and supply chain, and committed to setting carbon
reduction targets which are aligned with the SBTi. The
new targets were submitted to the SBTi in December
for validation and will be published once validated. The
accuracy of emissions measurement was further improved
in FY23. To encourage transparency, the RWS climate
change management strategy is publicly reported on
several platforms, including Annual Reports, TCFD, and
CDP disclosures.
Propylon’s Component Content Management System
allows users to author, edit, and 昀椀nalise content in a
user-friendly way. It also provides software to a range
of standards bodies and global regulated professional
services organisations, helping them solve the content
challenges with drafting, amending, publishing and
updating legislation, regulation and guidance.
Including Propylon’s CCMS and software within the RWS
portfolio compliments and further strengthens the RWS
business o昀昀erings, helping its clients reach further around
the globe.
ACCESS TO CAPITAL
Many of the measures detailed throughout this section
contribute to ensuring RWS has access to capital.
Strengthening its climate-change management strategy
through commitments to carbon net zero, transparent
engagement with its value chain, and investments in
technological advancements can generate additional
revenue from drawing in new clients with similar values.
The initiatives themselves may have several bene昀椀ts,
e.g. improving the accuracy of its data collection and
carbon footprinting not only aids with our carbon net
zero journey, but also can lead to improved business
decisions to reduce costs on an ongoing basis, while also a
reduction in our systems and as such reducing run costs.
A long-term strategy to net zero also allows RWS to access
new sources of investment, while also more traditional
lenders are favouring businesses with a clear strategy.
FRAMEWORKS RWS Holdings plc — ESG Report 2023
81
