Strategic Report | Governance | Financial Statements | 35
99 % OF OUR PURCHASED ELECTRICITY IS FROM RENEWABLE SOURCES (REGO 1 CERTIFIED)
42 % REDUCTION IN MARKET BASED BUILDINGS EMISSIONS IN 2023 10,899 SELF-DECLARED ACTIONS TAKEN BY OUR COLLEAGUES TO REDUCE THEIR IMPACT ON CLIMATE CHANGE 33 % OF SENIOR LEADERSHIP ARE WOMEN, TARGET OF 33% BY DECEMBER 2023 £ 82 k DONATED TO CHARITY BY THE BUSINESS AND OUR COLLEAGUES IN 2023
LEAVING A RESPONSIBLE FOOTPRINT We have reduced the carbon footprint of our operations by 83% since 2019 (market based) including the impact of switching to a green energy supplier and the remaining carbon is from business travel, small electricity emission and gas from our office in Reigate. During the year we set carbon budgets to monitor travel and are looking at ways to reduce the remaining carbon to net zero. • We’ve optimised our heating schedule to better align with staff attendance, reducing our energy consumption and emissions. • Just has also engaged with the local council to understand what the possibility is of support for energy efficiencies in our Reigate office. 1 T he Renewable Energy Guarantees of Origin (REGO) scheme provides transparency to consumers about the proportion of electricity that suppliers source from renewable electricity. CREATING A FAIR WORLD Creating a fair world is directly influenced by the way we carry out our business and also the way we treat each other, namely colleagues, customers, suppliers, or members of society at large. • Just has signed the age-friendly employers pledge. • Just is on track to meet our HM Treasury Women in Finance targets. • We are in partnership with the national charity Volunteering Works with over 97 of our colleagues taking part in activities during 2023. • We continue to be: – Signatories to the Asset Owner Diversity Charter. – Member of Progress Together. – Members of GAIN (Group for Insurance, Autism, Insurance, Investment and Neurodiversity). You can read more about creating a fair world within our Colleagues and culture section on pages 50 to 53. MAKING A POSITIVE IMPACT We understand we have a long way to go, including investing in more assets that support a positive impact. Like others we are on a journey to fulfil this goal. Our progress against our target is shown below. £ 325 M INVESTED IN ELIGIBLE GREEN AND SOCIAL ASSETS IN 2023 Aligned with our sustainability bond framework £ 825 M TARGET TO INVEST OVER 2023 TO 2025 Invested in eligible green and social assets
592 NEW HABITS FORMED BY EMPLOYEES TO REDUCE THEIR FOOTPRINT
50 % OF OUR BOARD ARE WOMEN
19 % OF SENIOR LEADERSHIP ARE FROM A BLACK, ASIAN OR MINORITY ETHNIC BACKGROUND, TARGET OF 18% ALIGNED WITH 2021 UK CENSUS DATA
696 NUMBER OF HOURS OF VOLUNTEERING RECORDED IN 2023
GHG EMISSIONS DATA Emissions – tCO 2 e 1
2023
2022
73
Scope 1 (natural gas and fugitive gas) 2
111 205 138 454
177 145 395
Scope 2 (purchased electricity location based)
Scope 3 (business travel)
Total emissions (location based)
1
Scope 2 (purchased electricity market based)
18
2023
Usage – Kwh
2022
401,266
Scope 1 (natural gas and fugitive gas)
429,407
854,557 1,060,746
Scope 2 (purchased electricity location based) Scope 2 (purchased electricity market based)
5,416
136,362
Market based
Location based
2023 0.06 0.19
2023 0.10 0.34
Intensity ratios
2022
2022
tCO 2 e per retirement income sales
0.09 0.22
0.15 0.38
tCO 2 e
2 per full time employee
1 Tonnes of carbon dioxide equivalent (“tCO 2 e”). 2 Fugitive emissions are based on refrigerant gas escape from on-site chiller systems.
Methodology: We have used the GHG Protocol Corporate Accounting and Reporting Standard (revised edition), and 2023 emission factors from the Department for Business, Energy and Industrial Strategy. The boundary of our emissions reporting is Financial Control, comprising our directly owned and leased offices and building emissions and business travel under our control, including gas, fugitive gas, electricity, car mileage, train travel and flights. We use both a financial emissions intensity metric (tonnes of CO 2 e per £m retirement income sales and an employee intensity metric (tonnes of CO 2 e per employee) to normalise our data and provide useful performance indicators. Eshcon Ltd conducts an annual review of Just Group plc’s data collation and calculation processes and provides verification of the GHG Emissions Statement. At present, carbon offsets do not form part of our carbon mitigation strategy. We are in the process of setting near and long-term targets aligned with science based target 1.5 degrees trajectory. 100% of the reported emissions relate to emissions in the UK and offshore area.
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