Climate Change Data

Braemar Plc

Climate Impact & Sustainability Data (2021, 2024)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:208 tCO2e/year
Scope 1 Emissions:9 tCO2e/year
Scope 2 Emissions:118 tCO2e/year
Scope 3 Emissions:90 tCO2e/year
Total Energy Consumption:450,809 kWh/year

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced GHG emissions per employee from 1.3 tonnes of CO2 to 0.4 tonnes of CO2

Social Achievements

  • Increased female representation in the global workforce to 25% from 22%
  • Launched a trainee program in Singapore to promote careers in shipbroking
  • No major safety incidents recorded in the Logistics Division for a second consecutive year
  • Extended mental health training to UK employees and launched a health and well-being site on the intranet

Governance Achievements

  • Appointed a new Group Chief Executive Officer and non-executive Chairman
  • Implemented a company-wide health and safety policy
  • Updated and rolled out the majority of company policies to all employees, supported by training modules

Climate Goals & Targets

Short-term Goals:
  • Develop return to work approach incorporating flexibility
  • Roll out mental health training internationally
  • Offer carbon offsetting scheme to customers

Environmental Challenges

  • COVID-19 pandemic and related operating restrictions
  • Uncertainty arising from the impact of new variants of COVID and sterling/dollar movements
  • Industry's focus on environmental, social, and corporate governance issues
Mitigation Strategies
  • Ensured COVID-secure environments and practices were in place
  • Transitioned to working from home seamlessly
  • Increased communications with employees, including mental health training
  • Developed a return-to-work approach with flexibility
  • Implemented several initiatives to address ESG concerns, including forming a Corporate Social Responsibility Committee

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:2,520 tCO2e
Scope 1 Emissions:11.84 tCO2e
Scope 2 Emissions:188.82 tCO2e
Scope 3 Emissions:2,319.36 tCO2e
Total Energy Consumption:865,099 kWh
Carbon Intensity:6.12 tCO2e/fte

ESG Focus Areas

  • Climate Change
  • People
  • Society
  • Governance

Environmental Achievements

  • Carbon neutral through investment in offset programmes

Social Achievements

  • Launched Trainee Broker Scheme in the UK
  • Increased percentage of women in the global workforce to 25% (2023: 23%)
  • Continued charitable donations to employee-selected charities

Governance Achievements

  • Completed internal independent investigation
  • Strengthened governance processes, improving internal audit, risk, legal and compliance functions
  • Appointed Cat Valentine as an independent non-executive director

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
Medium-term Goals:
  • Achieve net zero emissions by 2050
  • Protect 10,000km2 of marine biodiversity areas by 2030
Short-term Goals:
  • Developing programmes to diversify workforce
  • Strengthening existing charity partnerships
  • Focusing on key social issues affecting operating countries

Environmental Challenges

  • Increased GHG emissions due to increased business travel post-COVID
  • Internal independent investigation into historical transactions
Mitigation Strategies
  • Investing in offset programmes to remain carbon neutral
  • Established an independent Investigation Committee
  • Took remedial actions to address process and control areas identified as needing improvement

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding, heatwaves, sea level rises, increased precipitation
Transition Risks
  • Government policy, customer expectations, material costs, increased stakeholder concern
Opportunities
  • Brokering ships supporting green energy transition
  • Brokering alternative goods for green transition
  • Growth in renewables markets
  • Chartering voyages via zero shipping routes

Reporting Standards

Frameworks Used: TCFD

UN Sustainable Development Goals

  • SDG 6.3
  • SDG 6.6
  • SDG 8.4
  • SDG 8.6
  • SDG 13.3
  • SDG 14.1
  • SDG 14.2

Initiatives contribute to these goals through facilitating climate-smart shipping, workforce diversification, and community investment.

Sustainable Products & Innovation

  • Braemar Offset

Awards & Recognition

  • Financial Times and Statista’s ‘Europe’s Climate Leaders’