Climate Change Data

Environmental Metrics

ESG Focus Areas

• Carbon neutrality
• Workforce diversity & engagement
• Professional integrity
• Data security

Environmental Achievements

• Overall emissions have reduced, predominantly due to an initiative to work with landlords in supplying electricity from renewable sources. When undertaking office refurbishments an initiative to install more efficient heating and lighting has been in place. An upgrade to our gas boilers was also undertaken, reducing total gas usage within the Group.
• 67% of FRP’s company energy needs are met with renewable energy.
• CO2e per total £ million sales revenue during FY2022: 0.7 (2021: 1.6)

Social Achievements

• Hired a specialist Learning & Development Senior Manager
• Rolled out Ideadrop – an innovation platform for colleagues to share ideas
• Established an Environment, Social and Governance (“ESG”) committee
• Continued support of colleagues in acquiring professional qualifications
• FRP scored 7.9 for both Engagement and Happiness in an Internal Culture Survey in 2021
• Donated £7,188, with colleagues raising an additional £23,931 for their chosen charities.
• Built 17 bicycles for a community support charity

Governance Achievements

• Adopted a new Enterprise Risk Management (ERM) framework, which has enabled ISO 31000 certification in July 2022.
• Working towards attainment of ISO 27001 certification
• Implemented four new systems: a new CRM system, a new HR system, a Document Management System and an upgraded time recording system.

Climate Goals & Targets

Environmental Challenges

• Reliance on senior management
• Referral relationship risk
• Reputational risk and negative publicity
• Cyber-crime and information security risk
• Acquisition risk
• Growth risk
• Operational gearing risk
• Communication risk
• Government policy, legal and regulatory risk
• Competition risk
• Potential claims against the Group

Mitigation Strategies

• Sharing knowledge, skills, contacts and expertise of key individuals
• Lock-in mechanisms for Partners
• Performance-related compensation for Partners
• Maintaining high-quality service to clients
• Implementing and developing Enterprise Risk Management, Information Security Management System & Cyber Security frameworks
• Conducting financial and legal due diligence on acquisitions
• Using earn-outs in acquisitions
• Continuous monitoring of investment opportunities and cost management
• Regular forecasting exercises
• Reviewing the balance between permanent and flexible staffing
• Regular internal meetings and communication channels
• Robust internal procedures and external advisers

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Due diligence on-boarding process for suppliers, including confirmation of their slavery and human trafficking policy

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: TCFD, Value Reporting Foundation recommendations

Certifications: ISO 31000, ISO 27001 (working towards)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• 55% reduction in Scope 1 emissions compared to the prior year
• 91% of FRP’s company energy needs are met with renewable energy.
• EcoVardis rating upgraded to Silver, putting FRP in the 87th percentile of companies.

Social Achievements

• Total attrition rate of 14.8% (2023: 14%), UK average is approximately 14.9%
• Various working groups formed to discuss, monitor and help implement diversity and inclusion initiatives
• Offers a 24-hour Employee Assistance Programme

Governance Achievements

• Adopted ISO 31000 as its Risk Management Framework and achieved alignment in July 2022
• Certified as complying with ISO 27001:2013
• Robust systems and procedures have prevented any reportable incident to the Information Commissioners Office

Climate Goals & Targets

Environmental Challenges

• Increased costs of replacing inefficient technology earlier
• Severe weather
• ESG policy and regulatory changes
• Large scale market changes with buying behaviours increasing by ESG consideration

Mitigation Strategies

• Switching to fully renewable tariffs as energy contracts come up for renewal
• Offering an option for colleagues to negotiate terms to lease electric cars
• Developing a set of requirements for all suppliers that reflects the organisation’s Net Zero and decarbonisation goals
• Providing support to suppliers in meeting the company’s carbon emissions reduction requirements

Supply Chain Management

Responsible Procurement

• Due diligence on-boarding process for suppliers which includes confirmation of their slavery and human trafficking policy

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather

Transition Risks

• ESG policy and regulatory changes
• Large scale market changes

Opportunities

• Increased demand for advisory services related to sustainability, energy transition and regulatory compliance

Reporting Standards

Frameworks Used: TCFD

Certifications: ISO 27001:2013