Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Employee Wellbeing
• Diversity & Inclusion
• Ethical Supply Chains
• Governance

Environmental Achievements

• Reduced UK greenhouse gas emissions by 39% and total energy use by 49% year-on-year. Expanded Scope 2 and 3 emissions analysis to include global non-serviced offices.
• Adopted working practices to conserve energy, water, and other resources, reducing waste.

Social Achievements

• Graduated 26 employees from eight countries through Ten’s Global Leadership Programme.
• Implemented a new Remote Working Policy to support employee work-life balance.
• Maintained record levels of member satisfaction for the fourth consecutive year.
• Expanded internal communications to promote initiatives such as Religious Awareness, Age, Ethnic and Cultural Diversity, and Mental Health Awareness.

Governance Achievements

• Established an ESG Working Group to implement a robust ESG strategy.
• Adopted a portal for secure digital distribution of Board packs and a platform for sharing ideas between meetings.
• Retained all Material Contracts globally.

Climate Goals & Targets

Environmental Challenges

• Impact of COVID-19 on member activity and travel, reducing Net Revenue by 21.6%.
• Reduced member activity in core service categories (travel, dining, entertainment).
• Global economic uncertainty and the continued impact of the pandemic on consumer behavior.
• Potential for emerging new technologies and service innovations to impact market share.
• Price pressures on gross margins.

Mitigation Strategies

• Augmenting core services with relevant support services (virtual events, home delivery management, staycations).
• Improved efficiencies and prudent cost reduction actions (Salary Sacrifice Scheme, redundancies, government support schemes).
• Continued investment in technology, content, and supplier partnerships to improve member proposition.
• Continued investment in proprietary technology and key third-party supplier relationships to maintain competitive advantage.
• Monitoring market prices on an ongoing basis.

Supply Chain Management

Responsible Procurement

• Robust commercial and contractual relations with critical suppliers.
• Due diligence checks on key suppliers (creditworthiness, contract and regulatory compliance).
• Commitment to sustainable procurement and mitigation against modern slavery, bribery, or corruption.

Climate-Related Risks & Opportunities

Physical Risks

• Increased likelihood and severity of macroeconomic and natural crises.
• Changes in member behaviours.

Transition Risks

• Increased cost and availability of core service categories.
• Supply chain disruption.

Opportunities

• Adapting service to changing environment.
• Enabling members’ informed decisions that can impact the environment.
• Partnering with low-environmental-impact partners.

Reporting Standards

Frameworks Used: QCA Code, Section 172 of the Companies Act 2006, Streamlined Energy & Carbon Reporting (SECR), GHG Protocol, Partially adopted TCFD guidelines

Certifications: ISO 14001 (Printer and paper mill), PCI DSS Level 1, SOC Type 2

Third-party Assurance: BDO LLP

Environmental Metrics

ESG Focus Areas

• Diversity, Equity, and Inclusion (DEI)
• Environmental Sustainability (Carbon Emissions, Energy Efficiency)
• Ethical Supply Chains
• Community Investment
• B Corp Certification

Environmental Achievements

• Reduced energy usage and carbon emissions per total £m of Net Revenue year-on-year since 2020.
• Expanded energy consumption and greenhouse gas (GHG) emission reporting under the Streamlined Energy & Carbon Reporting (SECR) framework.
• Included all offices (leased or serviced) in Scope 2 analysis and energy consumption from major data centers and cloud providers within Scope 3.

Social Achievements

• Launched new initiative granting paid leave to all employees globally for volunteering.
• Maintained high levels of member satisfaction (measured by Net Promoter Score).
• Expanded the Group’s DEI Programme.
• Increased focus on management succession and development.

Governance Achievements

• Applied for B Corp certification.
• Shareholder resolution passed to amend Articles of Association to adopt a “triple bottom line” approach.
• Implemented a new Supplier Code of Conduct.

Climate Goals & Targets

Environmental Challenges

• Omicron variant of COVID-19 temporarily reduced member activity and revenue growth.
• Regional inflation and cost of living pressures increased costs.
• Conflict in Ukraine resulted in closure of Moscow office.
• Ongoing or sporadic COVID-19 restrictions in APAC suppressed demand.

Mitigation Strategies

• Adapted working practices and member proposition to manage demand and revenue.
• Reviewed pricing in line with macroeconomic changes and cost pressures.
• Growth in other EMEA regions offset the impact of the Moscow office closure.
• Continued investment in technology and content to drive market-leading digital capability.

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct outlining minimum standards and transparency

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions
• Climate migration
• Energy demand

Transition Risks

• Compliance
• Product and service adaptation
• Investor and corporate client sentiment
• Carbon taxation
• Climate disclosure

Opportunities

• Corporate client service lines
• Member service lines
• Proposition development
• Industry expertise

Reporting Standards

Frameworks Used: TCFD, SECR

Certifications: PCI DSS Level 1, SOC Type 2

Third-party Assurance: BDO LLP

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Governance

Environmental Achievements

• 46% reduction in Scope 2 emissions for UK electricity
• 18% reduction in Scope 3 remote UK refunded mileage

Social Achievements

• 14 new interns joined Ten’s internship programme
• 62% female representation in senior management
• 64% female representation across the workforce
• 119 employees participated in volunteer work programme (14% increase from 2023), dedicating 864 hours (7% increase from 2023)

Governance Achievements

• Maintained B Corp certification with an overall score of 82.2
• 43% of the Board are independent Directors

Climate Goals & Targets

Environmental Challenges

• Loss of a Large contract in the last quarter of the year
• Increased global air travel GHG emissions (79% increase)
• Slight increase in energy usage and GHG emissions per £m of Net Revenue due to increased serviced office space and staff returning to the office

Mitigation Strategies

• Continued investment in proprietary technology, including AI, to drive future growth and profitability
• Enhanced efficiencies driven by advancements in technology and growing professionalism of operational staff
• Working with landlords and serviced office providers to assess energy providers, enhance energy efficiency, improve air quality and minimise waste
• Relocated primary London office to an energy-efficient building with green certifications
• Leveraging online collaboration tools to decrease regional meetings and promoting flexible working arrangements to reduce the carbon footprint associated with business travel and commuting
• Increased availability of bicycle parking spaces for staff

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions
• Rising temperatures and energy demand

Transition Risks

• Climate change regulations
• Carbon taxation
• Investor and corporate client sentiment
• Climate migration

Opportunities

• Product and service adaptation (developing a climate-conscious product range)
• Investor and corporate client sentiment (improved investment prospects through a strong climate response)

Reporting Standards

Frameworks Used: B Corp, Streamlined Energy and Carbon Reporting (SECR), Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022, TCFD

Certifications: B Corp, PCI DSS Level 1, SOC Type 2

Third-party Assurance: BDO LLP

Sustainable Products & Innovation

• Ten Box Office
• Expanded “Conscious Collection” to include retail brands and restaurants

Awards & Recognition

• Travel Retail Business of the Year at the TTG Luxury Travel Awards 2024
• Concierge Agency of the Year 2023 at the Aspire Awards 2023
• Top Recommended Concierge service for HNWIs at the Spear’s Awards 2024