Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Good Corporate Governance

Environmental Achievements

• All energy consumed at Euskaltel headquarters is exclusively from 100% renewable sources from 2020 onwards. The 2020 Shareholders’ Meeting was held remotely, significantly reducing environmental impact.

Social Achievements

• Increased customer base and profitability. Successfully completed roadmap milestones including creating a unique organizational structure, transforming the business, and launching the Virgin telco brand nationwide. Increased telecommunications services offered for free to help customers during the confinement period.

Governance Achievements

• Reduced the number of Board of Directors members from 13 to 11, in line with Corporate Governance recommendations. Separated the Appointments and Remuneration Committee into two separate committees.

Climate Goals & Targets

Environmental Challenges

• Coronavirus pandemic (COVID-19) and associated travel restrictions.

Mitigation Strategies

• Held the General Meeting of Shareholders online, guaranteeing shareholder participation and voting rights. Adapted network capacity to manage increased traffic during confinement, maintaining a good user experience.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• People
• Environmental and Climate Matters
• Human Rights

Environmental Achievements

• Total CO2 emissions less than the average for a single UK household. Scope 2 and Scope 3 emissions decreased in 2022 due to homeworking arrangements and restrictions on travel imposed in response to the COVID-19 pandemic.

Social Achievements

• Zegona’s employees are encouraged actively to engage with charitable activities. Zegona achieves workforce diversity on a case-by-case basis by ensuring that when it does appoint new members of staff or the board, it places diversity at the heart of its decision-making process to ensure it achieves both a diverse and a high performing workforce. During 2022 and 2021, all individuals that have been appointed have diverse backgrounds including, two female independent Non-Executive Directors.

Governance Achievements

• The Board has conducted an annual evaluation of its own performance and that of its committees.

Climate Goals & Targets

Environmental Challenges

• Ability to maintain sufficient resources to identify and complete new acquisitions.
• Ability to create value in acquired businesses.
• Loss of key management.
• Foreign exchange.

Mitigation Strategies

• Zegona is making progress on finding another attractive investment opportunity within the European TMT sector where it can again apply its successful Buy-Fix-Sell strategy. A disciplined approach to valuation and thorough due diligence process. Remuneration packages at market rates, as well as long-term incentives through the issue of Management Shares and other management incentive plans. The Board and the Chief Financial Officer control and monitor financial risk management, including foreign currency risk, in accordance with the internal policy and the strategic plan defined by the Board.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• People
• Diversity
• Environmental and Climate Matters
• Human Rights

Social Achievements

• Historically met the 40% gender balance target on the board. Actively recruiting to fill a board vacancy to improve diversity.

Governance Achievements

• Maintained ethical values and behaviours embedded in corporate culture. Actively incorporating diversity into the current recruitment process.

Climate Goals & Targets

Environmental Challenges

• Limited environmental impact due to the nature of the business (primarily information-based, with employees working remotely).
• Maintaining a diverse board following a resignation.

Mitigation Strategies

• Minimising environmental impact through lean working arrangements, technology to minimise business travel, and encouraging employee recycling and energy conservation.
• Actively recruiting to fill board vacancy to improve diversity.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 (SECR), GHG Protocol Corporate Accounting and Reporting Standard