Strategic Report
Governance Report
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Responsible business Supporting our environment
We are a responsible Group committed to improving our environmental and social impact. Operational emissions
Highlights
122MWh Overall energy consumption decrease 35% Total greenhouse gas emissions decrease for gas consumption 16% Total greenhouse gas emissions decrease for electricity consumption 14% Overall energy consumption decrease
Our progress toward our GHG reduction targets will be tracked and communicated through annual public reporting, aligned with Article 4.9 of the Paris Agreement. ESG Advisory Committee The sustainability landscape is constantly evolving – what is considered a differentiator today could become a standard expectation tomorrow. It is therefore imperative to look ahead and continuously challenge our approach. To advance our ESG agenda, we have established the ESG Advisory Committee (“ESGAC”), comprising senior business representatives from across the Group. Historically, ESG values have been integrated into our centralised investment processes and across all areas of the business. However, until the establishment of the ESGAC, these efforts had not been consolidated. We believe that now is the appropriate time to develop a strategic framework for the firm, which will be led by the ESGAC and encompass all corporate functions. The ESGAC is reviewing existing initiatives to develop a preliminary strategic framework and provide recommendations for the business moving forward. The three areas of focus within the strategic framework are responsible investing, corporate and operational, and people and charity. Advancing sustainability in facilities management We have implemented a range of practices designed to enhance the environmental performance of our facilities management. Recognising the importance of sustainable
operations, we have focused on optimising resource efficiency, reducing our carbon footprint, and promoting eco-friendly initiatives. Our property strategy is reviewed annually and continually updated to safeguard the health, safety and welfare of colleagues, as well as considering the bigger picture and the future view in terms of environmental credentials. We focus on providing offices that boost engagement, trust, energy, commitment, and productivity by selecting properties that offer a flexible, hybrid approach. We have reduced our offices to 14 across the UK, expanding our serviced office strategy. By leveraging the inherent efficiencies and sustainability-focused operations of serviced offices, we can significantly reduce our environmental footprint whilst maintaining operational flexibility and resilience. Benefits include: • Resource efficiency: serviced offices maximise resource use through shared amenities and services, reducing the overall consumption of energy, water, and other resources per occupant. • Reduced carbon footprint: with flexible leasing options, we can right-size our office space, minimising the environmental impact associated with maintaining under- utilised areas. • Waste reduction: shared facilities implement robust recycling and waste management programmes, leading to more efficient waste reduction practices. • Sustainable infrastructure: our serviced office providers prioritise sustainability in their building operations, employing energy- efficient lighting, heating, and cooling systems, and using eco-friendly materials.
In comparison with the previous financial year our overall energy consumption has decreased by 14% or 122 MWh, and our total greenhouse gas emissions have decreased by 16% for electricity and 35% for gas. This year our energy consumption has dropped for electricity and gas due to a change in our workplace strategy. We are deeply committed to understanding and mitigating the environmental impact of our operations. In line with the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”), we have undertaken a comprehensive assessment of our Scope 1, 2, and 3 emissions. This assessment is crucial in identifying the steps necessary to achieve the significant carbon reductions required to reach our goal of net zero emissions by 2030. By analysing our direct and indirect emissions, we continue to develop targeted strategies that not only address our current environmental footprint but also pave the way for a more sustainable future. These efforts reflect a steadfast dedication to environmental stewardship, ensuring that our business practices contribute positively to the global fight against climate change. Our target remains to be net zero across all our operations by 2030. By the end of 2025, we will set out a clear plan for how we will achieve this, which will include our short- term and long-term greenhouse gas (“GHG”) emission reduction goals. These goals will provide the direction and prioritisation needed to accurately calculate our emissions.
• Flexibility and adaptability: the ability to scale office space up or down as needed reduces the necessity for new construction, which in turn decreases the environmental impact associated with building new facilities. When we buy new materials, we prioritise carbon neutrality and make sure we use the most sustainable products available, with long lifecycles and made from reclaimed and reused materials.
Brooks Macdonald Group plc Annual Report and Accounts 2024
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