Lockton Environmental Report 2023-24

CO₂ reduction and targets

Absolute reductions and performance reductions

The reworking of our environmental programme continues within our ESG framework, as such, we have continued to monitor and review our CO₂ using our previously stated targets, although we expect these to be restated in future years. Electricity Performance against targets Target is Scope 2 Reduction in CO₂ - 99.8% reduction in CO₂ from electrical consumption (generation, transmission and distribution, and Well-to-Tank) per associate by end of Fin Year 2026 versus 2017-18 base year. This year we are reporting 66.50kg/per head vs. our target is 27.75 kg/head by 2026. Whilst the rise is unwelcome, we believe that increased efficiency of the built estate over the next two years will see this use come down in line with our target path.

Reduce kWh per Associate – the target now being to reduce our kWh per associate by 40% over the revised period 2017-18 to 2025-2026. This year we are reporting 1,253 kWh/associate vs. last year’s 1,310 kWh/associate. This is a marginal reduction of nearly 4.5%. Performance against target As reported previously we are on target to achieve this, and we are above the overall end target at present. Transport and travel This area of our CO₂e reporting has shown a substantial increase this year. The development of an alternative calculation method has changed the numbers substantially and review of this change has indicated from our external auditors that they are in agreement with this higher number. Our CO₂e per associate related to travel is 5,410kg, of which 95.20% is related to air travel. As such, this number will now be used for the future years reports as a new baseline year and targets will be set around this. Secondary target 1/3 of current internal face to face meetings to be moved to video meetings by 2028, this will contribute towards the reduction in travel CO₂. We are expecting the development of an appropriate measurement methodology as part of the revised measurement, target and reporting for next year. Paper use We previously advised that for paper we set one reduction target and one technical target, albeit that paper in and of itself is a low tCO₂e total impact item. y An overall 30% reduction in paper use within 5 years, based on 2017-18 purchased sheets. y Alongside this we set the target that 25% of the paper we use was to come from recycled sources by 2020. As reported, we have met those targets; we set a stretched target to 2025-26.

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ENVIRONMENTAL REPORT | LOCKTON

ENVIRONMENTAL REPORT | LOCKTON