Tungsten Corporation PLC
Climate Impact & Sustainability Data (2021-05-01 to 2022-04-30)
Reporting Period: 2021-05-01 to 2022-04-30
Environmental Metrics
Social Achievements
- Improved employee retention (Significantly improved buyer retention, with a YTD March 2022 loss of 3 Accounts Payable (“AP”) Buyers with annual recurring revenue (“ARR”) of GBP 0.1 million against a loss of 13 AP buyers with ARR of GBP 0.4 million for the prior period.)
Climate Goals & Targets
Environmental Challenges
- Challenging year in 2021 due to COVID-19, resulting in decreased revenue and transaction volumes.
- Potential challenges securing sufficient debt and/or equity funding to execute its strategy.
- Ability to increase growth without additional investment.
Mitigation Strategies
- Successfully reduced costs and improved profitability.
- New product launches and strategic partnerships.
- New appointments to senior leadership team and overall reduction in headcount and costs.