RWS Annual Report 2022 web - Flipbook - Page 49
TCFD pillar
Governance
Strategy
Risk
management
Metrics and
targets
TCFD recommended
disclosures
Cross-reference or reason
for non-compliance
Comments and next steps
1. Board oversight of climaterelated risks and opportunities
Page 50
Compliant
The Board will continue to review the climaterelated risks and opportunities and review
performance against targets.
2. Management’s role in
assessing and managing climaterelated risks and opportunities
Pages 50 to 51
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 52
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 financial
planning
Pages 53 to 54
Partially compliant – we have
completed a scenario analysis
in respect of climate-related
risks and opportunities.
In FY23 we will further integrate our climaterelated 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 different climaterelated scenarios, including a
2°C or lower scenario
Pages 55 to 56
Partially compliant – through
our climate scenario analysis
we believe our business is
resilient in the short, medium,
and long term.
Based on current weather fluctuations, we have
made a number of assumptions associated with
those states and what could be experienced.
In FY23 we will continue to review how climate
change may impact our strategy.
6. Our processes for identifying
and assessing climate-related
risks
Page 56
Compliant
The Executive Team will continue to be
responsible for identifying potential climaterelated risks which will be assessed as part of the
Group's risk process.
7. Our processes for managing
climate-related risks
Pages 56 to 57
Compliant
Climate change risks are managed through our
risk management process and after they are
assessed, risk profiles are produced at a business
level with Board-level oversight.
8. Describe how processes
for identifying, assessing, and
managing climate-related
risks are integrated into the
organisation’s overall risk
management
Page 57
Compliant
We will continue to monitor and manage our
climate-related 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
Partially compliant – due to
expanding the tracking and
reporting of Scope 3 indirect
emissions, in FY22 we created a
new baseline year.
Although we were able to report against our
carbon-related performance metrics for Scope 1
and 2 in FY22, due to our changing and improving
our methodology for capturing and measuring
Scope 3, as such the Scope 3 carbon emissions
changed significantly from FY21.
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 science-based targets.
11. Describe the targets used
by the organisation to manage
climate-related risks and
opportunities and performance
against targets
Page 59
Partially compliant – in FY23 we
propose to prepare and submit
science-based targets to the
SBTi for validation in FY23.
In FY23 we propose to prepare and submit
science-based targets to the SBTi for validation
and will continue the process of developing and
reporting on our climate-related performance
metrics.
We will continue to monitor regularly our progress
to reduce our carbon emissions.
STRATEGIC REPORT RWS — Annual Report 2022
49
