Climate Change Data

Walter Scott & Partners Limited

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:1056 tCO2e (2023)
Scope 1 Emissions:67 tCO2e (2023)
Scope 2 Emissions:51 tCO2e (location-based, 2023)
Scope 3 Emissions:938 tCO2e (2023)
Renewable Energy Share:100% (electricity)
Total Energy Consumption:574221 kWh (2023)
Waste Generated:22.8 tons (2023)

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • AI Ethics
  • Corporate Governance
  • Human Capital Management
  • Supply Chain Standards
  • Carbon Intensity

Environmental Achievements

  • Attained ISO 14001 certification.
  • Organized an employee tree-planting day.
  • Reduced office printing by 87% relative to 2019.
  • Reduced office electricity consumption by 5% versus 2022 and 31% compared to 2019.
  • Reduced scope 1 emissions by 14% compared to 2019.

Social Achievements

  • Developed a 2023 Diversity, Equity and Inclusion (DEI) plan.
  • Hosted meetings with several diversity partners.
  • Implemented a mentoring program with over 40 mentors.
  • Launched a new leadership development program with modules focused on inclusive leadership.
  • Supported 69 charities across Scotland and Boston.

Governance Achievements

  • Merged ESG Steering Group and Investment Stewardship Committee into the Investment Stewardship and Sustainability Committee (ISSC).
  • Updated proxy voting policy to place more emphasis on director independence.
  • Enhanced climate analysis on a number of holdings.
  • Implemented a new ESG Benchmarking and Risk Review.

Climate Goals & Targets

Short-term Goals:
  • Maintain an average annual recycling rate of 70% of total Edinburgh office waste.
  • Reduce total office waste by 5% by the end of 2024.
  • Reduce office printing by 80%.
  • Reduce business travel-related emissions by 5%.
  • Reduce Scope 1 and 2 emissions by 5%.

Environmental Challenges

  • Increasingly financially material consequences of inadequate adherence to regulatory standards and reputational risk of poor ESG practices.
  • Complexity of the global energy transition.
  • Evolving regulatory environment for ESG and sustainable investment.
  • Political debate surrounding ESG.
  • Supply chain risk in the global apparel industry.
Mitigation Strategies
  • Enhanced climate scenario analysis, including a third scenario ('Delayed Transition').
  • Developed a new 'Enhanced Climate Assessment' (ECA) process.
  • Provided climate scenario analysis training for the Research team.
  • Continued to engage with investee companies on ESG issues.
  • Increased resources in the Stewardship and Sustainability team.
  • Continued to invest in technology to improve the resilience of operations.

Supply Chain Management

Responsible Procurement
  • Engaging with suppliers on ESG issues, particularly regarding labor practices and human rights.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Investment in low-carbon energies

Reporting Standards

Frameworks Used: TCFD, CDP, EU SFDR, UK Stewardship Code

Certifications: ISO 14001