Climate Change Data

Record plc

Climate Impact & Sustainability Data (2021-04 to 2024-03, 2022-2023)

Reporting Period: 2021-04 to 2024-03

Environmental Metrics

Total Carbon Emissions:66,164 tCO2/year (achieved) and 38,089 tCO2/year (expected) (Appendix)

ESG Focus Areas

  • Sustainable Finance
  • Currency Stabilisation
  • Development Finance
  • Local Currency Financing
  • Gender Equality
  • UN SDGs

Environmental Achievements

  • GHG emissions reductions (quantified in the appendix, but not a single number in the main report)

Social Achievements

  • On-boarded c.$160 million in new bespoke, impactful peer-to-peer (“P2P”) currency transactions, supporting women entrepreneurs in Mongolia, affordable housing finance for female workers in Kazakhstan, and expanding credit for women and agriculture in Azerbaijan.
  • Supported nearly all UN SDGs, with a focus on SDGs 1, 10, 9, 8, and 17.

Governance Achievements

  • Developed new disclosure and sustainability frameworks.
  • Developed a proprietary methodology to estimate UN SDG-aligned impact.
  • Implemented a Counterparty Leadership Framework to incentivize counterparties to collaborate, improve transparency and report impact.

Climate Goals & Targets

Environmental Challenges

  • Challenging macroeconomic backdrop (global monetary tightening, inflation).
  • Volatility in currency markets in EMDEs.
  • Limited supply of local currency loans.
  • Barriers to attracting private investment in EMDEs (volatile returns, market complexities, reputational risks).
  • Measuring impact on currency stability.
  • Insufficient access to local financial resources for EMDE borrowers.
  • MDB operational constraints limiting local currency loans.
Mitigation Strategies
  • Active investment across economic cycles.
  • Investing in underinvested currency markets.
  • Developing innovative investment vehicles.
  • Partnering with DFIs to provide affordable long-term funding.
  • Bespoke P2P trade opportunities to hedge FX risks.
  • Offering FX hedging solutions to DFIs.
  • Developing a framework to estimate impact on currency volatility.
  • Expanding support to DFIs to enhance development financing and local currency operations.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN SDGs, Operating Principles for Impact Management

UN Sustainable Development Goals

  • 1
  • 10
  • 9
  • 8
  • 17

Fostering the development of currency markets in EMDEs to promote UN SDG-aligned socioeconomic growth and local community wellbeing.

Reporting Period: 2022-2023

Environmental Metrics

Renewable Energy Share:100% (UK offices)

ESG Focus Areas

  • Responsible Investment
  • Climate Action
  • Our People

Environmental Achievements

  • Reduced office paper consumption by 72% against a 2019 baseline
  • 100% of office waste from Windsor office downsize project was recycled and office equipment was all reused or donated
  • 100% renewable energy across UK offices

Social Achievements

  • Progress against Inclusion and Diversity Action Plan
  • Organised two corporate volunteering days
  • Inclusion and Diversity Network led events
  • Manager training programme implemented for all line managers which included sessions on team building, inclusion and diversity, wellbeing and more
  • Supplier Code of Conduct created and shared with all new suppliers

Governance Achievements

  • Sustainability and ESG training for the Board
  • Sustainability materiality assessment conducted
  • Consultation response to FCA’s SDR and Sustainable Investment Labels proposal
  • Became members of the Diversity Project

Climate Goals & Targets

Long-term Goals:
  • Reach net-zero greenhouse gas emissions in our operations and value chain by 2050
Medium-term Goals:
  • Reduce Scope 3 emissions intensity by 55% by 2030 against a 2019 baseline
Short-term Goals:
  • Develop and embed a framework for effective engagement with MDBs and other DFIs in line with EMSF strategy
  • Improve ability to measure the positive social and environmental impact of EMSF investments
  • Continue our research and development on delivering sustainability-themed product innovation
  • Review carbon accounting practice to investigate how we can improve accuracy of our carbon footprint data collection
  • Continue to improve climate transparency and disclosure through our climate report and voluntary frameworks
  • Use feedback from recent pulse survey to implement changes for the benefit of our employees
  • Organise at least ten Inclusion and Diversity Network events across the year
  • Implement a supplier onboarding platform to better enable us to engage with suppliers on sustainability and monitor their adherence to our Modern Slavery Policy, Supplier Code of Conduct as well as their climate commitments

Environmental Challenges

  • Transitioning to net-zero while expanding operations and international partnerships
  • Maintaining emissions reduction goals despite return to normal working practices
  • Improving data collection and reporting across sustainability pillars
Mitigation Strategies
  • Strengthened integration of climate-related risks within Group-wide business risk framework
  • Improved climate disclosures to enhance transparency and delivery
  • Continued hybrid working practices to reduce commuting emissions
  • Initiatives to encourage greener travel (cycle to work scheme, green salary sacrifice car scheme)
  • Investment in energy-efficient technology (laptops, cloud-based data centre)
  • Minimising office waste (recyclable packaging, refillable glass bottles, reduced printing)

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB, TCFD, UN Global Compact, UN PRI

Certifications: CarbonNeutral®

UN Sustainable Development Goals

  • Goal 1
  • Goal 8
  • Goal 9
  • Goal 10
  • Goal 17

EMSF investments target specific SDGs through bond investments and peer-to-peer transactions.