Climate Change Data

JTC Group

Climate Impact & Sustainability Data (2021, 2022)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:1,572.67 tonnes
Scope 1 Emissions:451.45 tonnes
Scope 2 Emissions:461.32 tonnes
Scope 3 Emissions:659.90 tonnes
Carbon Intensity:10.66 tCO2e per £1m revenue

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Became a Carbon Neutral+ organisation

Social Achievements

  • £20m Shared Ownership award to all employees
  • Focus and investment in training and development
  • Internal promotions and sector-leading retention
  • Employee wellbeing and wellness initiatives including formalisation of remote work policy

Governance Achievements

  • Enhanced Board level oversight of ESG risks
  • Appointment of CSO (post period end)
  • Updates to Terms of Reference to provide Board level consideration on ESG risks and opportunities (post period end)
  • Appointment of a new female Independent Non-Executive Director, Kate Beauchamp (post period end)

Climate Goals & Targets

Long-term Goals:
  • Define a strategy and target date to achieve net zero
Medium-term Goals:
  • Conduct a more in-depth materiality assessment (2-3 years)
Short-term Goals:
  • Define timeframes to complete activities which may include setting net zero targets, conducting materiality assessments, etc. (by end of 2022)

Environmental Challenges

  • Managing transition risk for the business in the evolving climate change regulatory environment
  • Understanding the longer-term impacts of climate change on JTC and its client base
Mitigation Strategies
  • Undertook an exercise to become a Carbon Neutral organisation to understand the current risk that environmental impacts have on the business
  • Enhanced governance oversight and employee capabilities related to ESG
  • Strategic acquisitions to bolster expertise in ESG advisory and impact and socially responsible investing globally
  • Planning to conduct a more in-depth materiality assessment in the medium term (2-3 years)

Supply Chain Management

Responsible Procurement
  • Commitment to purchase all stationery from responsible suppliers that are committed to sustainable source materials

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather impacting global offices and clients
Transition Risks
  • Changes to regulatory frameworks, carbon tariffs, stranded assets
Opportunities
  • Providing ESG support for clients

Reporting Standards

Frameworks Used: TCFD, SASB

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:1,924.93 tonnes CO2e
Scope 1 Emissions:440.10 tonnes CO2e
Scope 2 Emissions:500.60 tonnes CO2e
Scope 3 Emissions:984.23 tonnes CO2e
Carbon Intensity:9.62 tCO2e per £1m revenue (2022)

ESG Focus Areas

  • Climate Risk
  • Natural Capital
  • Carbon Emissions
  • Energy Efficiency
  • Waste Management
  • Diversity
  • Equity and Inclusion
  • Human Rights
  • Community Relations
  • Shared Ownership
  • Data Management and Security
  • Ethics
  • Risks
  • Succession
  • Stakeholder Engagement
  • Purpose and Culture
  • Board Composition
  • Executive Compensation
  • Audit
  • Employee Wellbeing

Environmental Achievements

  • 9.7% YoY reduction in CO2 emissions per employee
  • Maintained Carbon Neutral+ status
  • Reported to Carbon Disclosure Project (CDP) for the first time
  • Luxembourg office leased 7 hybrid/electric vehicles

Social Achievements

  • Launched inaugural Employee Survey with 60% response rate
  • Conducted global benefits review resulting in enhancements to family-friendly policies
  • £225k donated, fundraised and contributed to charities
  • 28,000 training hours logged on JTC Academy
  • 276 employee promotions
  • 8% employee turnover rate
  • 57% of employees are female

Governance Achievements

  • Appointment of Wendy Holley as CSO
  • Appointment of Kate Beauchamp as a new Independent NED
  • Audit & Risk Committee split into an Audit Committee and a Risk & Governance Committee
  • Updates made to Terms of Reference to provide Board level consideration on ESG risks and opportunities
  • 38% of board members female
  • 63% of Board members are Non-Executive Directors

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions before 2030
Medium-term Goals:
  • Establish more detailed targets to manage climate-related risks and opportunities
Short-term Goals:
  • Conduct a more detailed, formal materiality assessment of climate-related risks and opportunities

Environmental Challenges

  • Potential impact of physical risks from climate change on global offices and clients
  • Transition and regulatory risks (changes to regulation, carbon tariffs, potential for stranded assets)
  • Long-term events (macroeconomic impacts, population shifts)
  • Need for more detailed, formal materiality assessment of climate-related risks and opportunities
Mitigation Strategies
  • Business continuity and disaster recovery plans
  • Formal remote working policy
  • Globally dispersed teams
  • Backup power generation
  • Offsite disaster recovery center
  • Strategic acquisitions bringing ESG advisory expertise
  • ESG advisory and administration services to clients
  • Engagement with stakeholders (investors, clients, employees) to assess materiality of climate risk

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
Transition Risks
  • Regulatory changes
  • Carbon tariffs
  • Potential for stranded assets
Opportunities
  • Expanded range of Sustainability Services

Reporting Standards

Frameworks Used: TCFD, SASB (reported in 2021)

Sustainable Products & Innovation

  • ESG Services