Climate Change Data

TT Club

Climate Impact & Sustainability Data (2023, 2024)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • Not disclosed

Social Achievements

  • Increased gender and ethnic diversity on the Board to better reflect membership.
  • 90% of employees surveyed in 2022 would recommend Thomas Miller as a good place to work.

Governance Achievements

  • Became a signatory to the United Nations Principles for Sustainable Insurance (2022) and the UN Principles for Responsible Investment (2020).
  • Developed an ESG framework aligned with five UN SDGs (5, 8, 9, 12, 14).

Climate Goals & Targets

Long-term Goals:
  • Assisting Members in their transition towards achieving net-zero greenhouse gas emissions.
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Transitioning the transport and logistics industry to net-zero emissions.
  • Managing the growing risks posed by increasingly strict sustainability and ESG requirements.
Mitigation Strategies
  • Sharing expertise and highlighting new risks associated with operational changes.
  • Providing insurance products and services to support Members' transitions.
  • Providing good practice guidance to help Members navigate sustainability challenges cost-effectively.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

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

Reporting Standards

Frameworks Used: UN Principles for Sustainable Insurance, UN Principles for Responsible Investment, UN Sustainable Development Goals, Sustainability Accounting Standards Board (SASB), International Sustainability Standards Board (ISSB)

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • 5
  • 8
  • 9
  • 12
  • 14

The report details how the Club's actions relate to these goals.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2024

Environmental Metrics

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Launched ESG Toolkit, an online resource for Members to access insight, educational content and support focused on a range of ESG topics.
  • Partnership in Safetytech Accelerator leading to innovations in early fire detection and cargo fire prevention.

Social Achievements

  • Launched ESG Toolkit with case studies on attracting, retaining and caring for employees.
  • Continued work with Thomas Miller to promote diversity, equity and inclusion (DEI) across Club employees, including enhanced manager training around DEI, further development of the DEI Employee Forum and building DEI behaviours into the Thomas Miller Behaviours Framework.
  • Increased gender and ethnic diversity of the TT Club Board.

Governance Achievements

  • Continued alignment of ESG framework with five UN Sustainable Development Goals (SDGs): SDG 5 (gender equality), SDG 8 (decent work), SDG 9 (industry, innovation), SDG 12 (responsible consumption), and SDG 14 (life below water).
  • Compliance with UN Principles for Sustainable Insurance and UN Principles for Responsible Investment.
  • Board actively reviewed its selection criteria to increase diversity.

Climate Goals & Targets

Short-term Goals:
  • Continue to work pro-actively within all existing partnerships that help to make the international transport logistics industry safer, more secure and more sustainable, and widely share the results and findings.
  • Create, join or support new partnerships with a focus on sustainability as opportunities arise.
  • Continue to assist Members with sustainability concerns, such as new regulations, climate-related natural disasters, transitioning to net-zero greenhouse gas emissions and carrying new high-risk cargoes such as electric vehicles and solar panels.
  • Continue to work with the Club’s manager Thomas Miller to reduce building energy consumption and increase recycling, as measured in its Global Carbon Footprint report.
  • Continue developing new Club covers to help Members take advantage of the opportunities and mitigate the threats of the global drive towards sustainability.
  • Continue to mitigate pollution incidents via Club covers and to treat all claimants fairly.
  • Continue to act as a conduit for sharing best practice and innovation for the greater good of Members and the global transport and logistics industry.
  • Continue to develop loss prevention initiatives and guidance on risk reduction and ESG concerns, including further ESG-related articles in TT Talk.
  • Promote greater awareness of the Club’s ESG Toolkit and develop further real-life case studies on sustainability topics.
  • Continue to develop a range of ESG-related resources for Members with Royal Haskoning DHV and other industry partners, including a new StopLoss briefing on climate adaptation and an update on the Windstorm II Handbook.
  • Continue to encourage the Club’s directors and employees to use more sustainable travel options and pay into a carbon offset fund.
  • Continue to encourage the Club’s professional network provide decent, inclusive and sustainable working conditions for their employees and to travel sustainably on Club business.
  • Continue to work with the Club’s manager Thomas Miller to promote and improve diversity, equity and inclusion across Club employees, including enhanced manager training around DEI, further development of the DEI Employee Forum and building DEI behaviours into the Thomas Miller Behaviours Framework.
  • Continue to increase gender and ethnic diversity of the TT Club Board so it mirrors as closely as possible the underlying membership, both in terms of geographical region and operator segment.
  • Continue to work with Thomas Miller to ensure and improve the well-being, training, education and employment terms of Club employees, including publication of employee engagement surveys and training activities, and introduction of flexible public holidays.

Environmental Challenges

  • Climate-related natural disasters
  • Fire risks of transporting sustainable products (e.g., electric vehicles, solar panels)
  • Decarbonization
  • Cyber risks
  • Geopolitical conflict
Mitigation Strategies
  • Significant investment in loss prevention activities
  • Sharing expertise across membership, highlighting new risks
  • Providing insurance products and services to support Members' transition to a more sustainable future
  • Working with innovators to foster innovations that will make a real difference to safety, security and sustainability for Members.
  • Assisting Members with sustainability concerns, such as new regulations, climate-related natural disasters, transitioning to net-zero greenhouse gas emissions and carrying new high-risk cargoes such as electric vehicles and solar panels.

Supply Chain Management

Responsible Procurement
  • All key suppliers are expected to provide decent, inclusive and sustainable working conditions for their employees and continually seek innovative solutions.

Climate-Related Risks & Opportunities

Physical Risks
  • Climate-related natural disasters (floods, extreme weather)
Transition Risks
  • Decarbonization

Reporting Standards

Frameworks Used: SASB (and future ISSB), UN Principles for Sustainable Insurance, UN Principles for Responsible Investment

UN Sustainable Development Goals

  • SDG 5
  • SDG 8
  • SDG 9
  • SDG 12
  • SDG 14

The five SDGs are considered most relevant to the Club's activities.