Climate Related Regulatory Disclosure for Annual Accounts

Motivation: 

In order to remain compliant with UK requirements, the client requested support on developing its understanding and reporting of climate related disclosures to ensure compliance with legal and regulatory requirements.

Our Approach: 

Goal7 provided key members of the Client's leadership team with a briefing on the regulatory reporting requirements in respect of climate related disclosures for UK based companies. Goal7's role focused on disclosure against the four TCFD pillars (Governance, Strategy, Risks, Metrics) discussing options for overall approach to each pillar, providing evidence to support claims and draft wording to reflect specific points. Goal7 assisted and developed climate scenario selection tailored to the company and assessed the potential impact these scenarios on the group operations. 

An audit was performed on the emissions calculations methodology and results for all of the group's UK sites. Recent acquisitions together with different activities at each site meant that climate reporting required site by site analysis. The final sustainability disclosure section of the report was drafted and delivered to the client which was then audited by a third party. Goal7 responded to auditors' comments and ensured that the disclosures were compliant with UK regulations. Goal7 was subsequently engaged by the client to improve improve its data collection, calculations for all of its global operations and to improve its reporting and disclosure for the next annual report.

Benefit and Impact:

Goal7's advice enabled the client to remain compliant with UK regulations, as well as improving the  understanding of their approach to sustainability. The sustainability related disclosures in the annual report were accepted by the external auditor. A sustainability committee was established to keep the business appraised of sustainable practices and reporting requirements.

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