Responsible Business Report 2023

Further information


4. Metrics and targets

During the next reporting period we will expand and develop further, our metrics at country level, rolling up to a global level, so as to monitor our overall progress against the SBTi targets for our Net Zero strategy across the full extent of Scopes 1, 2 and 3. We use the Greenhouse Gas (GHG) Protocol to calculate our emissions and report these in our SECR Report on page 3 in our Financial Statements for the year to 30th April 2023 As a provider of legal services our GHG emissions primarily result from emissions within our supply chain, from our business travel and from the energy we consume or purchase. Our SECR report contains only the calculations for Scope 1, 2 and limited Scope 3 emissions, arising from our UK operations and as such do not include emissions from the remainder of our global operations. We are working with our sustainability partner, Accenture, to establish a Data Managed Service to report on our overall global emissions footprint. We expect to be able to retrospectively report scope 1, 2 and 3 emissions for the period 1 May 2022 – 30th April 2023 during the financial year 1 May 2023– 30th April 2024.

To support our SBT, we are developing metrics to monitor progress against these targets for key elements of our decarbonisation programme, which in turn help to mitigate our top climate-related risks, and these are summarised below: • Scope 1 and 2 targets - we commenced activity to reduce our usage through efficiency measures and green our energy in 2019. All our UK offices are now powered by 100% renewable energy sources. We are prioritising purchasing our electricity from 100% renewable sources for all office outside the UK. Where such tariffs are not available, we will acquire energy attribute certificates. • Scope 3 target - we launched our Supplier Engagement Programme in 2023. By collaborating with top suppliers (by spend) on emissions reduction, we will build resilience into our supply chain. Our initial target is our top 200 suppliers representing more than 80% of non- matter related spend value. With regards to KPI’s and metrics to monitor progress against targets, our initial focus has been on the UK as our single largest region. We have used the KPI’s within our SECR to monitor our progress against the targets noted above. We are therefore currently able to monitor the progress being made in the UK with regards to the SECR metrics.

Next Steps • Submit a long-term Net Zero Science Based Target in 2023, in addition to refreshing our existing near-term Science Based Target to account for the impact of the merger with BLM on 1 July 2022 • Implement decarbonisation clauses in supplier contracts aligned with the Chancery Lane project, in addition to climate- related requirements in our Supplier Code of Conduct and recently approved Global Sustainable Procurement Policy

Metrics and targets are central to implementing our ambitious climate strategy and achieving our targets. Our near-term Science-Based Target (SBT), which is approved by the SBTi, commits us to emissions reduction targets in line with a 1.5°C trajectory, an 80% reduction in absolute Scope 1 & Scope 2 emissions, as well a 50% reduction in absolute Scope 3 emissions by 2030 from a 2019 base year. We plan to submit a long-term Net Zero Science-Based Target to the SBTi for validation by the end of 2023. • Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk management process • Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas (GHG) emissions and the related risks • Describe the targets used by the organisation to manage climate-related risks and opportunities and performance against targets

• As signatories to Legal

Charter 1.5, collaborate on the methodology behind measurement of advised emissions (also known as Scope 4)

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