ESG Report 2022 single pages web - Flipbook - Page 73
b. Impact of climate-related risks and
opportunities on our business, strategy,
and financial planning
The impact is as follows:
Products and services
Following COP26 in Glasgow, and throughout the
pandemic, we have seen the demand for sustainable
products and services increase exponentially. RWS
continues to take this market shift very seriously and
has investigated ways to optimise services to reduce
carbon emissions and improve satisfaction. We continue
to improve our value chain engagement strategies and
are focusing on reducing our Scope 3 emissions through
improving operational efficiency.
The successes of our investigations can be seen through
the increased demand of specific products and services.
For example, in FY21 we saw an increase in demand
of our Tridion products amongst new electric vehicle
(EV) market clients. These clients’ business offering is
focused on reducing demand of finite fossil fuels and
therefore their suppliers will need to demonstrate green
credentials. Other examples of services we have provided
include providing patents related to climate change (e.g.
a windmill generator and insulation material), localisation
relating to sustainable products, content or regulation
(e.g. EVs, rapid-charging stations, home batteries, and
solar panels, Sustainable Finance Disclosure Reporting,
website content, white papers, and reports for many of
our clients to market and sell financial products with a
sustainable objective).
As a natural consequence, the demand for our products
and services may well increase.
Supply chain/value chain
We recognise that the majority of an organisation's carbon
footprint is the result of their value chain i.e., suppliers and
clients. Therefore, organisations who truly want to have a
substantive impact on climate change must engage these
core stakeholder groups. We promote a sustainable and
carbon management ethos through our business and
have started to engage our suppliers and clients to ensure
our sustainability goals are understood throughout our
value chain.
To help achieve this goal, we are rolling out our updated
Supplier Code of Conduct which is supported by a new
Sustainable Development Policy. This shows that we
expect all suppliers and subcontractors to demonstrate
effective management of their environmental and
social impacts and we favour suppliers who are able to
demonstrate they are aligned with the UN Ten Principles
and reducing their environmental footprint actively.
Investment in research and development
The Covid-19 pandemic provided us the opportunity
to invest in new and innovative ways of working. As
we emerge from the pandemic restrictions, we are
committed to continue investment into how we can deliver
our products and services more efficiently. Currently,
our research and development investment focuses on
enhancing our service offering. This in turn reduces
the carbon emissions generated from our business
operations.
Our commitment to reducing carbon emissions through
R&D can be seen by our efforts to use the most energy
efficient and latest technology e.g., our datacentres.
We review technological advancements continually to
see if they can be used to support the attainment of our
sustainability and climate change goals.
Operations
As the demand for sustainable products and services
has increased exponentially, so has the demand
for organisations to show effective climate change
management. We are committed to being an ethical,
responsible, and trustworthy company by complying with
all relevant climate related regulations, as well as publicly
reporting on our climate change management through
Annual Reports and our disclosures to CDP. We continue
to review our operations globally against climate risk and
take steps to mitigate it where necessary. We are focused
on reducing our global carbon footprint through a range
of initiatives including improving energy efficiencies of
our offices and adopting green leases which include
securing 100% renewable energy contracts across our
estate portfolio where possible; LED lighting with motion
sensors; measured recycling; energy efficient heating
and cooling; and detailed reporting of resource use. We
are also reducing travel where possible, increasing the
availability of homeworking, and developing a socially
responsible suppliers’ network.
Adaptation and mitigation activities
As mentioned above under ‘Governance’, the Board
reviews performance against climate targets and is
working towards setting a carbon net zero commitment.
Initially, the aim is to reduce carbon emissions by 55%
by 2030.
Applicable risks and opportunities are identified by the
CEO, CFO and Head of Sustainability and ESG in order to
direct business strategy. The CFO is also responsible for
environmental compliance and reporting which also helps
focus the company’s attention on climate-related risks,
opportunities and mitigation.
FRAMEWORKS
RWS — ESG Report 2022
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