Carbon Reduction Plan

Emissions Reduction Targets

In line with the latest climate science and science-based targets, we have set short, medium, and long-term net zero targets in relation to our Scope 1 and 2 emissions.

• By the current reporting year FY 2024/25, we committed to reducing our Scope 1 and 2 emissions from the 2019 baseline of 56,382 tCO 2 e to 42,286 tCO 2 e, representing a reduction of 25%. • By 2030, we have committed to further reduce our Scope 1 and 2 emissions from the 2019 baseline to 28,191 tCO 2 e. This represents a reduction of 50%.

• By 2045, we will have become a net zero organisation.

Our Scope 3 carbon impact has been comprehensively assessed since the baseline financial year 2018/19 and in the previous 3 financial years we have developed an activity tracker to facilitate a move away from the spend-method approach to instead use the activity-based approach. This change in approach has increased the accuracy of our estimates and now sets the correct baseline from which scope 3 targets can be developed and will be applied for 2026 onwards.

60,000

160.0

140.0

50,000

Carbon Intensity (tCO2e per £m revenue)

120.0

40,000

100.0

80.0

30,000

60.0

20,000

Absolute emissions (tCO2e)

40.0

10,000

20.0

0.0

-

Actual Performance

Target

Carbon Intensity (tCO2e per £m)

We are pleased to confirm that as of the latest reporting year FY 2024/25, we have delivered an annual emissions reduction for the 3rd year in a row.

Compared with the baseline reporting year, annual emissions have been reduced by 8,348 tCO 2 e – representing a 15% reduction in absolute emissions.

On an intensity ratio basis of tCO 2 e per £1m revenue, compared with the baseline reporting year of 143 tCO 2 e per £1m, this has reduced to 79 tCO 2 e per £1m – representing a 45% reduction. In addition to the 15% reduction in absolute CO 2 e reductions achieved, to meet our March 2025 target of 42,286 tCO 2 e, we offset an additional 10% of our baseline using voluntary carbon units which support credible projects around the world in alignment with the United Nations’ Sustainable Development Goals.

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