Responsible Business Report 2024 - Flipbook - Page 15
used and considered to be one of the most
comprehensive independent environmental data
sets available. The CDP Score Report allows us
to benchmark and compare our environmental
stewardship with peers, and provides additional
information that can help inform our forwardlooking improvement programmes.
Independent assurance
TCFD and CFD disclosure
We continued to work with third party assurers,
the Carbon Trust, across the past 12 months.
They have completed a review and verification
of our Group operations for Scope 1, 2 and 3
emissions for the year ended January 2023
against the 14064-3 standard.
The Task Force on Climate-related Financial
Disclosures (TCFD) and the Climate-related
Financial Disclosure (CFD) requirements both
provide a framework for companies to report
the potential financial impacts from climate
change on their business. They also require
reporting of the progress made by the
organisation against the targets set to mitigate
climate-related risks and to reduce its impact
on the environment.
Scope 1 and 2 verification for the year ended
January 2024 is underway.
C L I M AT E
H I G H L I G H T
A class rating
CDP score improves to A rating
Having developed the world’s first certification
for organisational CO2e Reduction Standard and
product carbon footprints, the Carbon Trust is a
leading carbon footprint certification body.
During 2023 we were also pleased to improve
upon our Climate Disclosure Project (CDP) rating
which has now increased to an A classification.
CDP is a not-for-profit charity that runs a global
environmental disclosure system. CDP is widely
These frameworks are designed to help
investors and wider stakeholders understand
how businesses are managing climate-related
financial risks, across four key areas:
Governance – setting out the respective roles of
the Board and management team in managing
risks and opportunities.
Strategy – identifying risks and opportunities
over different time horizons and explaining how
these impact strategic and financial planning.
Risk Management – having processes in place
for managing identified risks and including these
within the overall risk management framework.
Metrics and Targets – explaining how both
climate change impact and exposure to risks are
measured, setting targets and tracking ongoing
progress.
Governance
Board of Directors
The A.G. BARR Board has accountability
for the oversight of climate-related risks
and opportunities impacting the Group.
The Board of Directors considers climate-related
risks and opportunities when reviewing and
agreeing the Company strategy, agreeing future
objectives, budgets and KPIs, setting policies
and when considering potential M&A activity.
The Board carries out a full review of our Group
risk register and principal risks, including those
related to climate change, twice a year.
In addition, the Board regularly discusses
climate-related issues across a variety of Board
meeting agenda items. These include matters
arising from its sub-committees, particularly
from the Environmental, Social and Governance
(ESG) Committee, as well as from general
business updates, where climate-related issues
will often be integral. Examples during the year
include discussions on science-based targets,
net-zero roadmap, as well as the approval of
our strategic capital investment programme,
incorporating projects which will contribute
to greenhouse gas reduction.
Emerging Risks
& Opportunities Group
Executive teams
for each business division
Board
Group Risk Committee
Audit and Risk Committee
“No Time To Waste”
Steering Group
ESG Committee
Capital Allocation Committee
Remuneration Committee
Using this framework we set out our full
disclosures as follows.
Nomination Committee
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RESPONSIBLE BUSINESS REPORT
Our Executive teams are responsible for the
delivery and execution of our responsibility actions
and programmes, supported where appropriate
by sub-committees and functional or project teams.
Further information on the governance of our
climate-related risks and opportunities is detailed
in our TCFD and CFD disclosures as follows.