As ESG governance evolves, the ESG and Finance teams need to work closely together to make sure that our sustainability strategy is maximising value for our business and our stakeholders.
In 2024/25, we strengthened this partnership through two major projects:
- Climate scenario analysis: In preparation for our latest Task Force on Climate-Related Financial Disclosures (TCFD) disclosure, ESG and Finance jointly updated our climate scenario analysis. We extended our forecasts to 2050 and modelled impacts on key financial metrics to keep our stakeholders informed on the most relevant climate risks and opportunities facing RS. Read our 2024/25 TCFD statement here.
- Double materiality: We revised our double materiality assessment (DMA) in 2024/25 – an evaluation of the most material ESG issues facing our business, which forms the basis of our 2030 ESG action plan. Finance played a central role in refining our assessment to align with emerging ESG regulations, informing rigorous scoring of risks and opportunities, validating thresholds and integrating ESG further into our risk framework.
This collaborative workstream brings together essential skillsets and expertise to deliver effective strategic oversight of ESG.