TCFD Report

This report is prepared in accordance with the UK Listing Rule 9.8.6(8) and is consistent with the recommended disclosures of the 2017 final report of the Taskforce for Climate-Related Financial Disclosures (TCFD).

To identify climate-related risks and opportunities, in 2021 the Group conducted an initial assessment of the resilience of its business model and strategy in the best and worst case scenarios of climate change. Further analysis is being carried out to quantify the potential financial impact. The Group’s current strategy for climate change is set based on the Group’s Scope 1 and Scope 2 emissions, where data is available.

The Group operates a decentralised model, which increases the scale and complexity of capturing Scope 3 emissions from its supply chain. However, the Group plans to identify and quantify its Scope 3 emissions within the next two years and to start reporting in FY2023/24. The Group’s climate change strategy may change accordingly to take into account the Scope 3 emissions if they are deemed material.

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