40 | Just Group PLC | Annual Report and Accounts 2023
SUSTAINABILITY STRATEGY: TCFD DISCLOSURE FRAMEWORK
Strategy and Governance WHY CLIMATE CHANGE IS IMPORTANT FOR JUST
We are aware of the increasing need to protect our business from the effects of climate change and to reduce the impact we have on the planet to continue achieving our purpose. However, there are still many uncertainties regarding how the impacts of climate change will develop, with future government policy potentially playing a significant role. The potential climate change impacts on Just are interconnected with other sustainability issues. We recognise this is a journey and we plan to continue to work towards limiting the effects of climate change. STRATEGIC OVERVIEW We have built our sustainability strategy around the United Nations Sustainable Development Goals (“UNSDGs”) and three guiding themes: making a positive impact, leaving a responsible footprint and creating a fair world . The strategy is aligned to the UNSDGs where we believe we can make the most difference and play our part in leaving a positive legacy to the world. Two years ago Just made a commitment to reach net zero in its near-term target, own emissions (scope 1 and 2) by 2025 and all other emissions (scope 3) by 2050 with a 50% reduction in the latter emissions by 2030. This commitment aims to align with the road map published by the Association of British Insurers (“ABI”) in summer 2021 on behalf of the insurance industry. We have since committed to the Science Based Target Initiative and plan to submit our targets by December 2024. Prior to 2023 we invested in understanding our emissions baseline and taking steps toward planning our transition to net zero. Understanding our baseline enables robust reporting on our progress to net zero. To do this we have improved the coverage of emissions across scope 3 by using third party data for actual and estimated emissions, where necessary. The result of this work enabled Just to develop the first iteration of a transition plan aiming to align with the Transition Plan Taskforce disclosure recommendations. Our focus for 2023 was to continue to enhance our efforts towards transitioning our business, specifically our investment portfolio, towards net zero. More information can be found in our Transition Plan on our sustainability website https://www.justgroupplc.co.uk/sustainability
MAKING A POSITIVE IMPACT
LEAVING A RESPONSIBLE FOOTPRINT
CREATING A FAIR WORLD
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