Gfinity plc
Climate Impact & Sustainability Data (2023, 2024)
Reporting Period: 2023
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- Release more websites in 2024
Short-term Goals:
- Achieve profitability in the short term
Environmental Challenges
- Economic uncertainty (inflation, high interest rates, potential economic downturn, difficulty raising finance)
- Negative perception of video gaming as unhealthy
- Competition in the digital media sector
- Liquidity risk due to past losses
- Competition for skilled employees
- Data security risks and increasing data protection regulations
- Rapid technological changes (AI)
Mitigation Strategies
- Significant cost reduction program, variable cost model, globally dispersed workforce, focus on digital media division
- Promoting a balanced approach to gaming, emphasizing health and social benefits
- Focus on digital media business with proven profitability, retaining ability to leverage future industry prospects
- Reduced cost base, focus on profitability
- Succession planning, employee development, targeted acquisitions
- In-depth review of data policies and procedures, secure data handling
- Embracing AI opportunities to improve product and increase efficiencies
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: QCA Corporate Governance Code
Third-party Assurance: Gravita Audit Limited
Reporting Period: 2024
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
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
Climate Goals & Targets
Medium-term Goals:
- Significant revenue addition from Connected IQ licensing in 2025
Short-term Goals:
- Achieve profitability
Environmental Challenges
- Economic uncertainty (inflation, high interest rates, potential economic downturn)
- Negative perception of video gaming
- Competition in the digital media sector
- Liquidity risk (loss-making in FY24)
- Competition for skilled employees
- Data security risks
- Technological changes (AI, Google algorithm updates)
Mitigation Strategies
- Significant cost reduction program (variable cost model, globally dispersed workforce)
- Focus on digital media division with a proven business model
- No debt funding at year-end, convertible loan note at a low fixed interest rate
- Promoting a balanced approach to gaming, emphasizing health and social benefits
- Focusing on digital media business for profitability
- Succession planning, employee share option scheme
- In-depth review of data policies and procedures
- Harnessing technological developments for new content and engagement, maintaining site health
Supply Chain Management
Supplier Audits: Not disclosed
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: QCA Corporate Governance Code
Third-party Assurance: Not disclosed