Corporate Sustainability Report - Flipbook - Page 66
Sustainability Report
66
Taskforce on Climate-related
Financial Disclosures
Summer 2024 was the Earth’s warmest
summer on record according to the
Copernicus Climate Change Service. It was
also the warmest across Europe at 1.54°C
above the 1991-2020 long-term average,
exceeding the previous record from 2022.
In this regard, the World Meteorological
Organization con昀椀rmed that 2024 was the
warmest year on record at about 1.55°C
above pre-industrial level.
Last year showed a signi昀椀cant increase of
land and sea surface temperatures and ocean
heat, that are likely to continue in the following
years and decades.1
Access has the desire to lead by example.
This is evidenced by the Group tracking
its global Scope 1, Scope 2, and Scope 3
emissions, ensuring it can support the
achievement of keeping global temperature
rises to 1.5°C or less, in accordance with Paris
Climate Agreement goals.
The below disclosure complies with the
Companies Act 2006 as amended by the
Companies (Strategic Report) (Climate-related
Financial Disclosure) Regulations 2022. We
have sought to make additional disclosures
informed by the Taskforce on Climate-related
Financial Disclosures and by the California
climate disclosure requirements.
Governance
A description of the governance
arrangements of the company in relation
to assessing and managing climate-related
risks and opportunities.
The Board monitors climate-related risks
that could materially and adversely a昀昀ect
the Group’s ability to achieve strategic goals,
its 昀椀nancial condition and the results of its
operations quarterly through the Audit &
Risk Sub-Committee. The Board is supported
by senior management personnel who
collectively play a key role in risk management
and regularly report to the Board.
1
The Group categorises risks according to the
likelihood of occurrence and the potential
impact on the Group.
Climate-related risks are identi昀椀ed through
horizon-scanning sessions including subject
matter experts and the Access Management
Team. These are tabled by the Director of
Sustainability at the Risk Committee. Following
review by the Risk Committee, climate-related
risks are tabled at the ESG Steering Committee
and the Audit & Risk Sub-Committee.
The Board
of Directors
Audit & Risk
Sub-Committee
The ESG
Steering Committee
Executive Sponsors
(CFO, CEO, CIO)
Risk
Committee
Access Management
Team
Subject Matter
Experts
Potential risks related to existing and future
regulation, reputation and markets, potential
昀椀nancial impacts, and physical climate change
are all considered carefully.
The Board has direct oversight of climate-related
issues and risks and it agrees our position and
commitments on climate change.
The Chief Financial O昀케cer, who is a member
of the Board and the Audit & Risk SubCommittee, as well as a core member of the
Access Management Team and the ESG Steering
Committee, retains overall responsibility for the
Group’s risk management programme as well as
climate change management for the Group.
https://wmo.int/news/media-centre/wmo-con昀椀rms-2024-warmest-year-record-about-155degc-above-pre-industrial-level
