Just Group plc | Annual Report and Accounts 2024
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Non-financial and sustainability information statement
This statement sets out how Just meets the non-financial information and sustainability reporting requirements contained within sections 414CA and 414CB of the Companies Act 2006. For information on Just’s business model, see pages 14 to 15. NON-FINANCIAL KEY PERFORMANCE INDICATORS The Board receives reports and management information regarding key non-financial matters such as business change initiatives, the investment programme, operational performance, customer outcomes and colleague-related matters. Just’s discretionary short-term and long-term incentive plans for colleagues uses stretching financial and non-financial metrics to determine the bonus pool which the Board and Remuneration Committee review. As part of its Sustainability strategy, Just has set the following key performance indicators. Progress towards meeting these targets is outlined on pages 40 to 53.
KEY PERFORMANCE INDICATOR
TARGET
Amount invested in eligible green and social assets.
Invest £825m in green and social assets over 2023 to 2025.
Level of Scope 1 and 2 emissions.
Achieve net zero in our operations (Scope 1 and 2) by 2025.
Level of Scope 3 emissions.
50% reduction of our overall Scope 3 emissions by 2030.
Net zero business.
Operate as a net zero business by 2050.
NON-FINANCIAL RISK MANAGEMENT The Risk management report sets out our approach to risk management. Our approach enables all colleagues to take more effective business decisions through a better understanding of risk. The Annual Report and Accounts sets out our principal risks and uncertainties including non-financial risks and how we mitigate those risks. The Group Risk and Compliance Committee (“GRCC”) considers various non-financial risks. These include risks arising from people and culture, operational processes, information security, conduct and climate change. The aim is to prevent non-financial risks from materialising and having a detrimental impact on our business (including our reputation), colleagues, customers, suppliers and other stakeholders. Our Risk team manages the Group’s Risk Policy Framework. The framework comprises the following three Group Risk policies, which have been adopted by the Board, and underlying Company risk policies. 1. Conduct and Operational Risk Policy . Sets out principles to ensure that decisions and behaviours do not lead to poor outcomes for customers or losses from failed processes, systems, people or external events. 2. Financial and Insurance Risk Policy. Sets out principles for how financial and insurance risks taken in activities or transactions to drive the Group’s financial performance are identified, measured, monitored, managed and reported. 3. Risk Management Policy. Sets out principles for how risks that could significantly affect the ability of the Group to meet its objectives are identified, measured, monitored, managed and reported. Each Company risk policy has a policy owner and an executive sponsor, who review and approve the policy at least annually and provide an attestation as to its adherence and any material breaches. Under the updated framework, which was embedded in 2024, the GRCC and Board have received updated Group Risk policies with details of all underlying Company risk policies established to address each subordinate risk. This update included an opinion from the Group Risk function on the effectiveness of the risk management framework and how this has been addressed through the Group Risk Policy Framework. Material breaches of policies are recorded in our risk management system and are escalated to the Group Chief Risk Officer. Any serious breaches are reported to the GRCC or Board. This ongoing management of risks highlighted by breaches enables the business to take necessary action to mitigate the risk through training, improving a process or policy, or enhancing associated controls. NON-FINANCIAL POLICIES AND FRAMEWORKS Just has non-financial policies which govern how we do business and how we interact with our stakeholders to help ensure that we have a positive impact and fulfil our purpose. Our policies reflect our commitment to act ethically and with integrity in all of our business relationships, and to protect our stakeholders by growing the business sustainably. Our Group Risk Policy Framework is designed to ensure that all policies collectively demonstrate how all core risks to the business are effectively controlled as outlined above. The following table outlines Just’s material areas of impact relating to environmental matters and climate change disclosures, colleagues, social matters, anti-bribery and anti-corruption matters and respect for human rights, which are in scope of the reporting requirements contained in the Companies Act 2006. The information listed is incorporated by cross-reference.
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