Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Installation of new exhaust cleaners on PHFC vessels reducing NOx and CO2 emissions
• Use of solar panels on PHFC pontoons
• LED lighting and movement sensors across Momart warehouse units and offices
• Renewable energy from solar panels installed at Leyton warehouse unit 14
• Sourcing of materials for packing cases from sustainable European sources at Momart
• Wood waste burnt for energy rather than going to landfill at Momart
• Elimination of plastic bags from all FIC retail outlets and use of paper cups, straws, and other recyclable packaging in the FIC cafes
• LED lighting in FIC offices, warehouses and retail outlets
• Utilisation of best practice insulation methods for building construction and renovation at FIC
• Incorporation of ground heat source systems into new build structures at FIC

Social Achievements

• Open, collaborative and inclusive management structure with regular employee engagement through appraisal process, structured career conversations, employee surveys, company presentations, away days and a well-being programme
• Apprentices taken on at Momart and PHFC
• PHFC donates cruise tickets to charities and makes various donations and gifts to local charities
• PHFC staff conduct organised collections for charities
• PHFC permits local school children to collect charitable donations on board vessels
• FIC supports local community charities

Governance Achievements

• Appointment of Stuart Munro as Chief Financial Officer
• Adoption of the revised Quoted Companies Alliance Corporate Governance Code 2018

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic significantly impacted UK businesses, reducing revenues to less than 10% of normal levels at times
• Lockdown measures severely restricted or halted trading in the UK
• Reduced passenger movements at PHFC due to lockdowns
• Reduced demand from Momart's museum and gallery clients due to lockdown restrictions
• Falkland Islands remained closed to overseas visitors, impacting tourism income
• Uncertainty caused by the UK's decision to leave the European Union

Mitigation Strategies

• Consistent profitability of Falkland Islands operations helped offset trading losses in the UK
• Early action to control costs
• Full utilisation of UK Government’s furlough scheme
• Restructuring of workforce in UK businesses yielded annual savings of £1.6 million
• Cost savings from restructuring actioned in October and furlough grants received from the UK Government
• Successful negotiation of tariff-free access to the EU prevented serious potential disruption to trade

Supply Chain Management

Responsible Procurement

• All suppliers vetted to ensure compliance with the Group’s zero tolerance approach to modern slavery

Climate-Related Risks & Opportunities

Opportunities

• Increased focus by central and local government on supporting “green” public transport solutions

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Elimination of plastic bags from all retail outlets and use of paper cups, straws, and other recyclable packaging in the FIC cafés wherever possible.
• LED lighting in offices, warehouses and retail outlets.
• Utilisation of best practice insulation methods for building construction and renovation.
• Incorporation of ground heat source systems into new build structures.
• Conversion of vehicles to meet the Euro 6 emissions standard.
• LED lighting and movement sensors across all warehouse units and offices.
• Renewable energy from solar panels installed at the Leyton warehouse unit 14.
• Sourcing of materials for packing cases from sustainable sources wherever possible.
• Wood waste repurposed or burnt for energy rather than going to landfill.
• Installation of new exhaust cleaners on the vessels reducing NOx and Co2 emissions.
• Smart LED lighting across the estate.
• Provision of coffee cup recycling.

Social Achievements

• Apprentices have been taken on at both Momart and PHFC, in areas including Customs and Excise and Engineering.
• PHFC also work closely with local government to ensure representation in local transport developments.
• Momart engage with industry working groups to propose and implement sustainability improvements in delivering fine art logistics services.
• We have an open, collaborative and inclusive management structure and engage regularly with our employees. We do this through an appraisal process, structured career conversations, employee surveys, company presentations, away days and our well-being programme.

Governance Achievements

• The Board is committed to appropriate governance across the business, both at an executive level and throughout its operations.
• The Board strives to ensure that the objectives of the business, the principles and risks are underpinned by values of good governance throughout the organisation.
• The FIH group plc Board values include embedding a culture of ethics and integrity, and the adoption of higher governance standards, to maintain its reputation by fostering good relationships with employees, shareholders and other stakeholders to deliver long term business success.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on supply and demand in UK businesses.
• Reduced demand from Momart's museum and gallery clients due to lockdown measures.
• Revised staff safety protocols and the need to use PPE at Momart.
• Initial lockdown impact on PHFC passenger numbers.
• Longer-term changes in customer behavior due to the pandemic.
• Falkland Islands closure to overseas visitors.
• Argentina's claim to the Falkland Islands.
• Uncertainty caused by Brexit.
• Impact of COVID-19 on UK companies' trading performance.
• International travel affected by COVID-19.
• Fluctuation in economic activity in the Falkland Islands dependent upon oil sector activity.
• Fluctuation in museum budgets for exhibitions and cyclicality in the commercial art market.
• Inflationary pressures across all Group businesses.
• Shortage of skilled employees across all Group companies.

Mitigation Strategies

• Use of UK Government's furlough grant scheme.
• Safe working practices reviewed and updated.
• Additional costs passed on to clients.
• Price increases introduced at PHFC.
• Investigations into partnership with Hampshire Council for integrated transport plan.
• Restrictions on tourists visiting the Falkland Islands were lifted in May 2022.
• UK Government support for the Falkland Islands.
• UK Government economic support and success of vaccination programme.
• Focus on cost efficiency.
• Customer and supplier contracts structured to limit or pass on inflation risk.
• Cost inflation monitored closely and passed on to customers via price increases wherever possible.

Supply Chain Management

Responsible Procurement

• All suppliers are vetted to ensure compliance with the Group’s zero tolerance approach to modern slavery.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Code

Third-party Assurance: KPMG LLP