RWS AR 23 Final Single pages - Flipbook - Page 58
Task Force on Climate-related Financial Disclosures (continued)
METRICS AND TARGETS
a. The metrics used to assess climate-related risks and opportunities in line with
strategy and the risk management process
RWS uses two metrics to compare its carbon emissions and measure its climate change impact: revenue (£m) and
number of employees (FTE). To align with science-based targets, RWS has adjusted its baseline to FY22. The following
table demonstrates the FY23 results and how they compare to FY22.
Intensity metric
Year
Intensity metric 1
Metric tons CO2e per unit revenue (£M)
FY22 (Baseline)
% change
to baseline year
FY23
Intensity metric 2
Metric tons CO2e per unit FTE
FY22 (Baseline)
FY23
% change
to baseline year
Scope 1
0.73
0.67
9.3%
0.07
0.06
11.0%
Scope 2 (location-based)
5.56
7.01
-26.2%
0.53
0.65
-23.7%
Scope 3
45.34
42.04
7.3%
4.29
3.90
9.1%
Total
51.63
49.72
3.7%
4.89
4.61
5.6%
Scope 1 and 3 intensity metrics show reductions when compared to FY23, ranging from 7.3% to 11.0%. The Scope 2
intensity metrics show increases of 23.7% to 26.2%. Collectively, RWS can demonstrate carbon emission improvements
in both intensity metrics of 3.7% and 5.6%.
The rise in the Scope 2 intensity 昀椀ndings stems from greater utilisation of o昀케ce space during FY23. RWS has
implemented an energy performance site selection programme proactively where the energy e昀케ciency of new
buildings is considered before leases are secured. This, along with identifying energy e昀케ciency improvements, will help
improve Scope 2 emission performance in the future.
Each member of the Executive Team and Senior Leadership Team has objectives to further RWS climate change and
sustainability goals. Additional remuneration can be awarded for reaching appropriate benchmarks and milestones.
Once RWS science-based targets have been 昀椀nalised and veri昀椀ed by the SBTi, additional metrics will likely be developed
and included within the existing remuneration reward scheme.
b. Scope 1, Scope 2, and Scope 3 greenhouse gas (GHG) emissions and the related risks
RWS Scope 1, 2 and 3 greenhouse gas (GHG) emissions
are included in detail on pages 28 to 30 of this report.
These have been calculated using the GHG Protocol
methodology. RWS emissions are as follows
Scope
Scope 1
FY23 GHG
Emissions
(tCO2e)
488
Scope 2 (location-based)
5,147
Scope 2 (market-based)
4,634
Scope 3* (location-based)
30,851
Scope 3* (market-based)
30,824
Total (location-based)
36,486
Total (market-based)
35,946
Note: The above Scope 3 emissions include the following
categories:
•
•
•
•
•
•
•
Category 1 (Purchased Goods and Services)
Category 2 (Capital Goods)
Category 3 (Fuel- and Energy-Related Activities Not
Included in Scope 1 or Scope 2)
Category 5 (Waste Generated in Operations)
Category 6 (Business Travel)
Category 7 (Employee Commuting)
Category 8 (Upstream Leased Assets)
RWS recognises that the risks associated with ignoring
climate change include physical climate disruption,
resource depletion, and various knock-on transitional
e昀昀ects, as well as the business speci昀椀c risks already
identi昀椀ed and discussed in detail within the previous
TCFD strategy section.
As a business with a complex and vast value chain, RWS
also recognises that it must play its part to mitigate
the e昀昀ects of climate change through a robust climate
change management strategy.
58
RWS Holdings plc — Annual Report 2023
STRATEGIC REPORT
