Allergy Therapeutics plc
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
Total Carbon Emissions:2,687 tCO2e/year
Total Energy Consumption:10,173,599 kWh/year
ESG Focus Areas
- Patients
- People
- Planet
- Responsible Governance
Environmental Achievements
- Reduced total gross emissions from 3,006 tonnes of CO2e in FY23 to 2,687 tonnes of CO2e in FY24.
Social Achievements
- Company-wide pay increase in October 2023, considering inflation.
- Enhanced employee wellbeing program 'Be Well', including on-site bike maintenance and access to bikes.
- Launched employee assistance programs in multiple countries.
- Installed free feminine vending units at the Worthing site.
- Implemented hybrid working principles.
- Global mandatory training on sustainability.
- Continued support for STEM activities in Europe.
Governance Achievements
- Appointment of Dr. Shaun Furlong as Executive Director and CFO.
- Appointment of David Ball as independent Non-Executive Director and Chair of the Audit and Risk Committee.
- Streamlined climate-related risk and opportunity management, integrating it into Executive Team meetings.
- Transferred responsibility for ESG to the Company Secretary.
Climate Goals & Targets
Long-term Goals:
- Reduce 95% of total carbon emissions by 2050
Medium-term Goals:
- Progression of the VLP Peanut clinical programme towards Phase II
- Proceed with submission for the registration of Grass MATA MPL in EU
- Improvement in EBITDA pre-R&D and exceptionals
Short-term Goals:
- Sales recovery
- Initiate recruitment for long-term paediatric trial for Grass MATA MPL
- Improvement in gross margin
Environmental Challenges
- Financial challenges, including revenue reduction due to manufacturing capacity allocated to clinical trials and supply constraints.
- Supply chain disruptions.
- Need to extend cash runway and secure funding.
- Climate-related risks, including extreme weather events impacting employee productivity and access to raw materials.
- Transition risks, including disruptive climate policies and increased raw material costs.
- Competition for qualified personnel.
Mitigation Strategies
- Cost-saving initiatives to significantly reduce operating costs.
- Securing investment through equity financing and loan facilities.
- Pre-ordering key manufacturing supplies and ensuring multiple suppliers for key materials.
- Developing a resilience plan for the Worthing site to address flooding risks.
- Monitoring public sector incentives for clean technologies.
- Commitment to reduce 95% of total carbon emissions by 2050.
- Creating alliances with packaging suppliers for certified recyclable materials.
- Externally benchmarking remuneration and developing succession planning.
- Implementing a new LTIP plan for key personnel.
Supply Chain Management
Responsible Procurement
- Focus on supplier engagement
- Pre-ordering key manufacturing supplies
- Ensuring multiple suppliers for key materials
- Collaborating with supply partners to promote sustainable supply initiatives
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events (heatwaves, flooding)
- Disruption to access to raw materials
Transition Risks
- Disruptive climate policies
- Increased raw material costs
- Carbon pricing and regulations
- Increased regulation in areas such as recycled packaging
Opportunities
- Public sector incentives for clean technologies
- Improved energy efficiency
- New products and services
- New markets
Reporting Standards
Frameworks Used: Companies Act legislation (CRFD, TCFD)
Sustainable Products & Innovation
- Grass MATA MPL
- VLP Peanut
Awards & Recognition
- 'Outstanding Poster Presentation Award' for Grass MATA MPL