EVT Limited
Climate Impact & Sustainability Data (2022, 2024)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:124,777 tCO2e/year (Scope 1 and 2, location-based)
Scope 1 Emissions:14,659 tCO2e/year
Scope 2 Emissions:110,118 tCO2e/year (location-based)
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- environmental sustainability
- climate change
- diversity and inclusion
- employee engagement
- community impact
Environmental Achievements
- Reduced Scope 1 and market-based Scope 2 carbon emissions (details in report, impacted by COVID-19 restrictions)
- Purchase of renewable energy for Thredbo operations since July 1, 2019
Social Achievements
- Increased percentage of female employees in senior executive positions to 38%, with 51% of all Group employees being female
- Commenced development of a “Reflect” Reconciliation Action Plan
Governance Achievements
- Full alignment with the Task Force on Climate-related Financial Disclosures (TCFD) framework targeted for FY24
- ESG goals for FY23 incorporated into short-term incentive framework for CEO and key personnel
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Reduce environmental impact of packaging and manage waste sustainably (FY23)
- Reduce energy and natural resource consumption and purchase renewable electricity (FY23)
- Obtain NABERS ratings for owned property (FY23)
- Consider sustainable design outcomes for capital expenditure projects (FY23)
- Respond to climate-related risks and opportunities with TCFD reporting (FY23)
- Raise awareness for environmental protection initiatives (FY23)
- Strengthen implementation of goals through partnerships (FY23)
Environmental Challenges
- COVID-19 mandated closures and restrictions impacting all business segments
- Energy cost increases, particularly in Germany
- Inflationary cost increases (salaries, wages, food, beverage, cinema rents)
- Risk of reintroduction of COVID-19 restrictions
- Staffing challenges due to COVID-19 and influenza
- Climate change risks (physical and transitional)
Mitigation Strategies
- Development of new, more flexible operating models
- Active cost management initiatives
- Pursuing government subsidies (Germany)
- Leveraging unique value proposition to attract and retain employees (flexible work, wellbeing programs)
- Climate-related risk and opportunity assessment completed
- Continued investment in sustainability initiatives
- Energy efficiency initiatives (replacement of old plant and equipment)
- Improved snowmaking capabilities at Thredbo
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Severe weather events
- Changes in regional climatic conditions
- Impacts on snowfall and temperatures at Thredbo
- Impacts on agricultural products
Transition Risks
- Carbon pricing
- Policy, regulation, technology, or public perception shifts
Opportunities
- More efficient property design and consumption
- Increased demand for sustainable products
- Improved waste management practices
- Increased property valuation from adaptation measures
- Increased demand for Thredbo in summer months
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:134,088 tCO2e/year (Scope 1 & 2 location-based)
Scope 1 Emissions:15,821 tCO2e/year
Scope 2 Emissions:118,267 tCO2e/year (location-based), 125,227 tCO2e/year (market-based)
Scope 3 Emissions:307,344 tCO2e/year (FY23)
Renewable Energy Share:100% renewable electricity for cinemas and hotels (Thredbo already using renewable energy)
ESG Focus Areas
- Climate change
- Diversity, inclusion and equal opportunity
- Employee engagement
- Responsible Procurement
- Community
Environmental Achievements
- 50% reduction in Scope 1 and 2 carbon emissions compared to the FY23 base year, and a 25% reduction in Scope 3 emissions compared to the FY23 base year.
Social Achievements
- Launched "Everyone Belongs" diversity and inclusion initiative.
- Improved customer satisfaction and employee engagement scores year on year across multiple divisions.
- Commenced the process of developing a "Reflect" Reconciliation Action Plan.
Governance Achievements
- Board endorses the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, 4th Edition.
- Disclosed its 2024 Corporate Governance Statement on its website.
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2050
Medium-term Goals:
- Achieve 30% renewable energy by 2030
Short-term Goals:
- Reduce water consumption by 10% by 2025
Environmental Challenges
- Worst winter weather conditions for nearly 20 years impacting Thredbo.
- Hollywood industry strikes (July to November 2023) impacting film releases and admissions.
- Inflationary pressures on costs and the growing cost of compliance.
- Supply chain disruptions
Mitigation Strategies
- Implemented a comprehensive and robust safety management system.
- Developed new, more flexible operating models to mitigate operational and financial impacts.
- Strong cost management discipline across the Group.
- Business transformation initiatives deployed to mitigate the impact of cost pressures.
- Proactive and constructive relationships with key suppliers and development of contingency plans.
- Diverse menus and offers to adapt to sudden supply disruptions and price spikes.
Supply Chain Management
Responsible Procurement
- Working with suppliers who align to our sustainability principles and sourcing more sustainable products.
- Engaging with suppliers to increase use of recyclable packaging.
Climate-Related Risks & Opportunities
Physical Risks
- Increase in frequency and severity of severe weather events
- Reliance on natural snowfall in Thredbo
- Water stress and drought
- Changing precipitation patterns
- Extreme heat and cold
- River flooding
- Extreme rainfall flooding
- Extreme winds and storms
- Wildfires
Transition Risks
- Imposition of a carbon price
- Increased cost of energy
- Increased cost of food and beverage products
- Changes in consumer behaviour due to reduced air travel
Opportunities
- Development and refurbishment of properties for more efficient design and consumption
- Increased demand for lower environmental impact products
- Increased property valuation due to adaptation measures and efficiency
- Increased demand for Thredbo in summer months
- Improved market position due to improved waste management practices
Reporting Standards
Frameworks Used: TCFD
Certifications: ISO 45001
Third-party Assurance: KPMG (limited assurance for Scope 1 and 2 emissions)