Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Stopped using plastic jewellery boxes; using cardboard or polished wood boxes.
• Reduced business travel and increased use of tele and video conferencing.

Social Achievements

• Launched a staff suggestion scheme and a department feedback scheme.
• Introduced an Employee Assistance Program.
• 99% of staff received a minimum inflationary pay rise.
• Raised almost £17,000 for charities.

Governance Achievements

• Member of the QCA and adopts its code of conduct.
• Undertakes a board effectiveness review every year.

Climate Goals & Targets

Environmental Challenges

• COVID-19 restrictions significantly impacted trading conditions, particularly foreign currency exchange volumes.
• Reduced high street footfall due to lockdowns.
• Challenging recruitment situation.

Mitigation Strategies

• Utilized UK Government’s Coronavirus Job Support Scheme.
• Kept almost all stores open throughout lockdowns.
• Invested in online retail jewellery operation.
• Developed tailored financial solutions for customers struggling with repayments.
• Focused on staff development, wellbeing and rewards to address recruitment challenges.

Supply Chain Management

Responsible Procurement

• Sought assurance from suppliers that they have no modern slavery practices.

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Reduced energy consumption through LED lighting and energy efficiency initiatives.
• Moved from plastic to paper packaging in several areas.
• Implemented a 'Think Green' initiative to promote recycling and reduce waste.

Social Achievements

• Improved employee engagement scores (92% happy workplace, 94% job security, 87% look forward to work).
• Implemented staff wellbeing initiatives, including training and an Employee Assistance Program.
• Paid all staff at least the Real Living Wage.
• Raised over £19,000 for charities.

Governance Achievements

• Appointment of Karen Ingham to the board, increasing board diversity.
• Embraced the FCA's New Consumer Duty initiative.
• Continued to operate in line with the Quoted Companies Alliance (QCA) Corporate Governance Code.

Climate Goals & Targets

Environmental Challenges

• High energy costs.
• High inflation and interest rates impacting consumer spending and loan repayments.
• Supply chain disruptions.
• Staff recruitment and retention challenges.

Mitigation Strategies

• Fixed energy pricing for most stores until February 2024.
• Diversified income streams.
• Flexible property leases.
• Investment in staff training and development.
• Prudent lending policies.

Supply Chain Management

Responsible Procurement

• Established long-term key suppliers.
• Supplier relationships reviewed six-monthly.
• Assurance from suppliers regarding modern slavery practices.

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environment
• Social (People and Community)
• Governance

Environmental Achievements

• Moved to a 100% renewable electricity supply contract from March 2024.
• 0% waste to landfill.

Social Achievements

• Paid the Real Living Wage (£12 per hour) by May 2024.
• Awarded the National Pawnbroker’s Association Employer of the Year award for 2023.
• 87% of staff completed the 2023 staff engagement survey.
• Introduced a new recognition scheme rewarding non-sales related behaviours.

Governance Achievements

• Successful implementation of the FCA’s Consumer Duty.
• First report on TCFD.

Climate Goals & Targets

Environmental Challenges

• Rising costs, particularly staff and energy costs.
• Increase in energy costs of approximately £0.4m in FY24.
• 10% increase in Real Living Wage from May 2024.
• Global economic uncertainty impacting consumer-facing businesses.
• Reduced air travel impacting foreign currency exchange revenue.
• Increased regulatory compliance costs.

Mitigation Strategies

• Diversified income streams provide defensive qualities.
• Continued investment in staff, IT systems, marketing, and store estate.
• New energy contract with 100% renewable electricity from March 2024.
• Committed to paying the Real Living Wage.
• Investment in retail operations, including online offering.
• Launched Ramsdens Mastercard® Multi-Currency Card.
• New websites for pawnbroking and gold buying.

Supply Chain Management

Supplier Audits: Periodic review of all material suppliers.

Responsible Procurement

• Ensuring suppliers demonstrate responsible business practices, including environmental stewardship, fair labour practices, and ethical governance.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Operational disruptions
• Impact on footfall

Transition Risks

• Reduced air travel
• Infrastructure upgrades
• Regulatory changes
• Increased reporting requirements
• Carbon taxes
• Lagging industry standards
• Opportunity cost of delayed sustainability integration

Opportunities

• Energy generation
• Operational efficiency
• Sustainable product offering
• Improved ESG ratings

Reporting Standards

Frameworks Used: TCFD

Awards & Recognition

• National Pawnbroker’s Association Employer of the Year award for 2023

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Implemented a new green energy electricity supply contract ensuring 100% of electrical energy is from renewable sources.
• Accelerated the rollout of LED lighting to older stores to reduce energy consumption.
• Expanded recycling initiatives to include a uniform recycling scheme.

Social Achievements

• Retained the Real Living Wage as entry-level pay.
• Ensured the Employee Assistance Programme was well publicised.
• Reviewed and updated medical information on employees, implementing risk assessments and management plans.
• Modified diversity and inclusion training to improve recruitment.
• Undertook a successful pilot project for employee volunteering.

Governance Achievements

• Completed the first consumer duty annual report, confirming compliance with FCA regulations.
• Obtained FCA approval to be an Authorised Payments Institution.
• Smooth leadership transition with the appointment of a new Chair.

Climate Goals & Targets

Environmental Challenges

• Obtaining accurate data from supply companies on energy and water usage.
• Increased staffing costs due to changes in the National Living Wage and Employer’s National Insurance.
• Increased energy costs.

Mitigation Strategies

• Implementing smart meters to improve data accuracy.
• Negotiating rents downwards where possible.
• Focusing on value for money and competitive pricing to recover increased costs.
• Renewed fixed price energy contract.

Supply Chain Management

Responsible Procurement

• Periodic review of material suppliers to ensure no modern slavery practices, proper cyber risk management, and alignment with Ramsdens' ethos on sustainability and the environment.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting buildings, personnel, operations, and footfall.

Transition Risks

• Reduced air travel impacting revenue; increased operational costs from tariffs and regulatory changes; infrastructure upgrades; regulatory changes; increased reporting requirements; carbon taxes; lagging industry standards; opportunity cost of delayed sustainability integration.

Opportunities

• Energy generation through renewable energy projects; operational efficiency through waste reduction and material reuse; sustainable product offering; improved ESG ratings.

Reporting Standards

Frameworks Used: TCFD

Sustainable Products & Innovation

• Recycled jewellery and precious metals.

Awards & Recognition

• National Pawnbrokers Association Community Contribution award (2024)