Climate Change Data

Caledonia Investments plc

Climate Impact & Sustainability Data (2021, 2022, 2024)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:73 tonnes CO2e
Scope 1 Emissions:19 tonnes CO2e
Scope 2 Emissions:47 tonnes CO2e
Scope 3 Emissions:7 tonnes CO2e
Total Energy Consumption:47 KWh
Carbon Intensity:8 Tonnes CO2e per FTE

ESG Focus Areas

  • Governance
  • Environmental
  • Social

Environmental Achievements

  • Dramatic reduction in carbon emissions due to cessation of international travel during Covid-19. Lower electrical consumption in refurbished Buckingham Gate property.

Social Achievements

  • Established The Caledonia Fund to assist employees of investee companies negatively impacted by Covid-19, providing around £260,000. Established The Caledonia Investments Charitable Foundation. Partnered with #10,000BlackInterns, offering paid work experience.

Governance Achievements

  • Commitment to increasing board diversity. External review of board effectiveness.

Climate Goals & Targets

Environmental Challenges

  • Covid-19 pandemic impact on investee companies, particularly those in the consumer leisure sector. Sale of Buzz Bingo for a nominal sum. Strengthening of Sterling against the US dollar negatively impacting returns.
Mitigation Strategies
  • Established The Caledonia Fund to support employees of impacted businesses. Provided additional capital to support investee companies. Continued monitoring of the Covid-19 pandemic and its economic impact. Maintained a strong balance sheet.

Supply Chain Management

Responsible Procurement
  • Clear payment practices ensuring fair and prompt payment for goods and services.

Climate-Related Risks & Opportunities

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:160 tCO2e/year (location based); 115 tCO2e/year (market based)
Scope 1 Emissions:21 tCO2e/year
Scope 2 Emissions:45 tCO2e/year (location based); 47 tCO2e/year (market based)
Scope 3 Emissions:94 tCO2e/year
Renewable Energy Share:100% of electricity use
Total Energy Consumption:733 KWh/year
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental, Social, and Governance (ESG)
  • Climate Change

Environmental Achievements

  • Electricity supply sourced from 100% renewable energy

Social Achievements

  • Partnership with #10000BlackInterns internship program
  • Charitable giving through The Caledonia Investments Charitable Foundation (£230,000)

Governance Achievements

  • Succession planning with the appointment of Mathew Masters as CEO
  • Appointment of new independent non-executive directors: Lynn Fordham and Anne Farlow

Climate Goals & Targets

Long-term Goals:
  • Investee businesses to target net zero emissions by 2050
  • Caledonia to achieve net zero emissions by 2030 (Scope 1 and 2)
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Russia's invasion of Ukraine increasing geopolitical risks and exacerbating inflationary pressures
  • Higher levels of volatility in markets adapting to interest rate increases
  • Supply chain constraints
  • Integrating ESG and climate change issues into investment decision-making
Mitigation Strategies
  • Well-diversified portfolio
  • High levels of cash provide a cushion to market reversals
  • Active approach to portfolio management
  • Developing ESG policy and processes
  • Training for board directors and investment professionals on ESG and climate change

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Clear payment practices, over 94% of invoices paid within 30 days

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Regulation, changing customer behaviour, reputational risks
Opportunities
  • Sustainable business opportunities, technology for lower emission energy solutions

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:390 tCO2e/year (market-based)
Scope 1 Emissions:14 tCO2e/year
Scope 2 Emissions:14 tCO2e/year (market-based)
Scope 3 Emissions:375 tCO2e/year (business travel) + 1 tCO2e/year (other)
Renewable Energy Share:100% (electricity)
Total Energy Consumption:286 kwh/year
Water Consumption:Not disclosed
Waste Generated:2 tons/year
Carbon Intensity:60 tonnes CO2e/$m invested (2024)

ESG Focus Areas

  • Climate change
  • Diversity & Inclusion
  • Governance
  • Employee well-being
  • Community Investment

Environmental Achievements

  • Switched to 100% renewable electricity in 2021, significantly reducing market-based Scope 2 carbon emissions.
  • Cooke Optics installed solar panels, reducing grid energy usage and achieving 20% renewable energy share.

Social Achievements

  • 98% of employees would recommend Caledonia as a great place to work (based on a 94% response rate employee survey).
  • Successful internship program with 100% of respondents rating it excellent.
  • Established the Caledonia Investments Charitable Foundation, supporting various charities.

Governance Achievements

  • Implemented a formal internship program.
  • Strengthened the team across multiple functions, promoting internal talent and hiring new expertise.
  • Established a Responsible Investment/Responsible Corporate Working Group.

Climate Goals & Targets

Long-term Goals:
  • Investee companies to target net zero emissions (Scope 1 and 2, market-based) by 2050.
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Achieve net zero Scope 1 and 2 emissions (market-based) by 2030.

Environmental Challenges

  • Foreign exchange headwinds impacting returns.
  • Slowdown in distributions from Asia funds due to market volatility.
  • Sentiment towards investment companies investing in private assets weighing on discounts.
  • Hollywood writers' and actors' strikes impacting Cooke Optics.
Mitigation Strategies
  • Disciplined capital allocation across investment pools.
  • Review of investor relations and communications program.
  • Working with Cooke Optics to enhance value creation plan and support investment in the team.
  • Enhanced stress-testing and capital allocation modeling.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Clear payment practices ensuring fair and prompt payment.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Regulatory changes
  • Consumer preference shifts
  • Pressure to reduce carbon emissions
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: BDO LLP

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed