Climate Change Data

Currys plc

Climate Impact & Sustainability Data (2020-05 to 2021-04, 2022-05 to 2023-04, 2023-04-30 to 2024-04-27)

Reporting Period: 2020-05 to 2021-04

Environmental Metrics

Total Carbon Emissions:35,321 tCO2e (market basis); 57,769 tCO2e (location basis)
Scope 1 Emissions:20,952 tCO2e
Scope 2 Emissions:36,817 tCO2e
Scope 3 Emissions:26,428,162 tCO2e
Renewable Energy Share:100% (UK Mainland and Nordics)
Total Energy Consumption:283,322,763 kWh
Waste Generated:13,897 tonnes (UK); 152 tonnes (Ireland)

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 4% Reduction in Scope 1 and 2 emissions against a 2019/20 baseline
  • 100% of our properties on the UK Mainland and in the Nordics (where we are responsible for supply contract) are powered by renewable electricity.
  • Met target to divert 95% of operational waste from landfill by 2022.
  • In 2020, our UK operation generated 4% less waste year on year.

Social Achievements

  • £1m pledged to The Learning Foundation to combat digital poverty
  • 765 Total number of trained Mental Health Champions and accredited Mental First Aiders
  • 1,000 premium refurbished laptops donated to charity
  • 1,155 refurbished devices to community causes

Governance Achievements

  • Repeated inclusion in the FTSE4Good UK Index
  • Maintained a ‘B’ score in the Carbon Disclosure Project
  • Achieved a ‘1’ score for ISS ESG Environment

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2040
  • 100% electric or alternative fuel vehicles by 2030
Medium-term Goals:
  • Reduce absolute Scope 1 and Scope 2 GHG emissions by 50% by 2029/30 from a 2019/20 base year
  • Reduce absolute Scope 3 GHG emissions by 50% by 2029/30
Short-term Goals:
  • Zero operational waste to landfill in the UK and Ireland by 2024/25
  • 100% LED coverage in all new buildings by 2025

Environmental Challenges

  • RIDDOR accidents increased by 7% compared to 2019/20
  • Scope 3 emissions account for over 90% of total emissions
  • Need to reduce plastic packaging
  • Addressing digital poverty
Mitigation Strategies
  • Renewed focus on manual handling accidents to identify root causes
  • Programme of activities involving suppliers, manufacturers, and colleague engagement to reduce Scope 3 emissions
  • Working with suppliers to reduce plastic packaging; removed 1.7m individual pieces of plastic packaging
  • £1 million donation to The Learning Foundation to combat digital poverty

Supply Chain Management

Responsible Procurement
  • Standards for Responsible Sourcing
  • Modern Slavery Policy
  • ETI Base Code compliance

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: TCFD

Certifications: ISO 50001 (Energy Management System)

Third-party Assurance: Lucideon

Reporting Period: 2022-05 to 2023-04

Environmental Metrics

Total Carbon Emissions:19,817,066 tCO2e/year
Scope 1 Emissions:17,352 tCO2e/year
Scope 2 Emissions:3,499 tCO2e/year (market-based)
Scope 3 Emissions:19,796,215 tCO2e/year
Renewable Energy Share:100%
Total Energy Consumption:264,333,212 kWh/year
Waste Generated:103,000 tonnes/year
Carbon Intensity:2.16 tCO2e/1,000 sq ft (location basis)

ESG Focus Areas

  • Circular economy
  • Climate change
  • Digital poverty

Environmental Achievements

  • 18% year-on-year reduction in Scope 1, 2 and 3 emissions
  • 103,000 tonnes of e-waste collected across the Group for reuse or recycling
  • 1.3 million repairs across the Group to keep tech working
  • A- score for climate change in CDP
  • 8th position in the Financial Times annual Climate Leaders Rankings
  • Removed 3.6 million items of plastic packaging from own label and licensed brand products

Social Achievements

  • Launched Tech4Families program, delivering 586 laptops to families in need
  • Raised over £244,000 for Tech4Families
  • 1,600 Kotsovolos colleagues organised and participated in 45 different projects for Good Deed Day
  • Donated £250,000 to FareShare, providing 1 million meals to families in need
  • Launched 'Quiet Hour' in UK stores for neurodiverse customers

Governance Achievements

  • Established an ESG Committee of the Board
  • Maintained a BBB score in the MSCI ESG Ratings assessment
  • Received an ESG Risk Rating of 12.7 and assessed by Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero emissions by 2040
Medium-term Goals:
  • Reduce Scope 1 and 2 GHG emissions by 50% absolute across the Group by 2029/30
  • Reduce absolute Scope 3 GHG emissions from purchased goods and services and use of sold products by 50% by 2029/30
Short-term Goals:
  • Operate 100% LED coverage in all new buildings by 2025
  • Expand Tech4Families into Northern Ireland and other areas

Environmental Challenges

  • Supply chain disruptions due to climate events
  • High cost of HVO fuel
  • Limited availability of 7.5 tonne EVs
  • Immature charging infrastructure for commercial vehicles in the UK
  • Complexity of Scope 3 emissions reduction
Mitigation Strategies
  • Trialing electric and low-carbon alternative fuelled vehicles
  • Replacing gas heating systems with heat pumps
  • Installing solar panels on vans
  • Introducing a new cross-functional, Group-wide working group to develop and enhance our approach to reducing Scope 3 emissions
  • Working with key suppliers to establish a best practice model and approach to Scope 3 emissions

Supply Chain Management

Supplier Audits: Over 50% of Group spend now assessed for sustainability and 45% for carbon maturity via EcoVadis

Responsible Procurement
  • Standards for Responsible Sourcing
  • Child Labour Remediation Policy
  • Conflict Minerals Policy
  • Anti-Bribery, Gifts and Hospitality Policy

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme heat
  • Extreme precipitation
  • Wildfire
Transition Risks
  • Changes in energy costs
  • Shifting consumer preferences
Opportunities
  • Use of more efficient modes of transport
  • Use of lower-emission sources of energy
  • Reduction in energy usage
  • Increased demand for sustainable products and services

Reporting Standards

Frameworks Used: CDP, TCFD

Certifications: ISO 50001:2018, ISO 14001

Third-party Assurance: KPMG LLP

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 9 (Industry, innovation and infrastructure)
  • Goal 10 (Reduced inequalities)
  • Goal 12 (Responsible consumption and production)
  • Goal 13 (Climate action)

Initiatives contribute to these goals through energy efficiency measures, circular economy initiatives, support for digital inclusion, and climate change mitigation efforts.

Sustainable Products & Innovation

  • Energy-efficient appliances
  • Refurbished products

Awards & Recognition

  • Retail Week Award for ‘game-changing customer service’
  • Outstanding Achievement Award from Pennies

Reporting Period: 2023-04-30 to 2024-04-27

Environmental Metrics

Total Carbon Emissions:16,872,044 tCO2e/year
Scope 1 Emissions:16,479 tCO2e/year
Scope 2 Emissions:1,221 tCO2e/year (market-based)
Scope 3 Emissions:14,089,417 tCO2e/year (Category 1 & 11)
Renewable Energy Share:100% of properties in UK, Ireland, Sweden, Finland and Denmark
Total Energy Consumption:252,547,741 kWh/year
Waste Generated:87,000 tons/year

ESG Focus Areas

  • Circular business models
  • Net zero emissions by 2040
  • Eradicating digital poverty

Environmental Achievements

  • 15.8% year-on-year reduction in Scope 1 & 2 market-based emissions
  • 12.7% year-on-year reduction in Scope 3 emissions
  • 8.1 million units of e-waste collected across the Group for reuse or recycling
  • 52% reduction in Scope 1, 2 & 3 emissions against a 2019/20 baseline

Social Achievements

  • Expanded Tech4Families into Northern Ireland and the Lincolnshire Coast
  • Group eSat score of 81 (+3pts YoY)
  • UK&I eSat score of 84 (+3pts YoY)
  • Nordics eSat score of 78 (+4pts YoY)

Governance Achievements

  • Improved MSCI ESG Ratings to 'A'
  • ESG Risk Rating of 13.8 (Sustainalytics)
  • Formalized TCFD Steering Group

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero emissions by 2040
Medium-term Goals:
  • Transition 100% of company cars and small van fleet and 50% of our medium to heavy fleet to electric or alternative fuel by 2030
Short-term Goals:
  • Reduce Scope 1 and 2 GHG emissions by 50% absolute across the Group by 2029/30 from a 2019/20 base year
  • Reduce absolute Scope 3 GHG emissions from purchased goods and services and use of sold products by 50% by 2029/30

Environmental Challenges

  • Weak consumer demand in Nordics due to inflation and interest rate rises
  • Soft market in UK&I declining (3)% YoY
  • Lead times for EV supply, high cost of HVO fuel, limited 7.5 tonne EV options
  • Complexity of Scope 3 emissions reduction due to global supplier base and varying decarbonization journeys
Mitigation Strategies
  • Disciplined focus on margins and costs in Nordics
  • Focus on more profitable sales in UK&I
  • Investing over £3m in the next three years to transition away from diesel vehicles
  • Supplier engagement trial using EcoVadis Carbon Action Module, introducing climate-related questions into GNFR tenders, improving primary data mapping for Scope 3 emissions

Supply Chain Management

Supplier Audits: 68 audits of own label and licensed brand suppliers

Responsible Procurement
  • Standards for Responsible Sourcing
  • Child Labour Remediation Policy
  • Conflict Minerals Policy
  • Anti-Bribery, Gifts and Hospitality Policy

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme heat
  • Extreme precipitation
  • Extreme fire risk
Transition Risks
  • Increased energy costs
  • Compliance with environmental legislation and taxes
Opportunities
  • Use of more efficient transport and energy sources
  • Commercial opportunities from market and consumer preference shifts
  • Reputation as a leading responsible business

Reporting Standards

Frameworks Used: TCFD

Certifications: ISO 50001:2018, ISO 14001

Third-party Assurance: KPMG LLP

UN Sustainable Development Goals

  • Goal 7
  • Goal 8
  • Goal 12
  • Goal 13

Initiatives contribute to these goals through circular economy, climate action, and digital poverty reduction efforts

Sustainable Products & Innovation

  • Energy-efficient appliances
  • Refurbished products
  • Smart home devices

Awards & Recognition

  • 2nd retailer in the Financial Times Climate Leaders 2024 rankings for Europe
  • MSCI ESG Ratings 'A' rating