UK&I ESG Strategy / 2025 / Page 7
ESG governance
ESG risk management
ESG itself, including the key issue of climate change, is considered one
of the Company’s principal risks. This reflects the continued growth
in importance of ESG and its role in the Company’s growth ambitions.
ESG risk is managed as part of the Company’s Enterprise Risk
Management (ERM) framework.
This follows a bottom-up approach, starting at the lowest market/
sector level by local management teams. Risks are then consolidated
at a regional level with reviews and challenges by regional executive
teams. Finally, risks are consolidated and considered at Group level.
Climate risk
In early 2024, we conducted a climate risk scenario assessment with
our insurers to identify risks and opportunities associated with climate
change, as part of our TCFD compliance. This enabled us to identify
potential impacts and implement appropriate measures.
Results and more information can be found on pages 20-28 in
our 2023 OCS Topco Annual Report and Accounts.
Reporting and assurance
OCS UK&I report on scopes 1-3 emissions which are externally
validated by Achilles. We also hold several certifications and
accreditations including ISO 14001 and ISO 50001.
ESG strategy governance
ESG strategy and targets will be reviewed by the UK&I ESG Committee
and UK&I Executive Committee every two years to ensure they remain
relevant and applicable in this ever-changing landscape. Performance
against the strategy and targets will be continuously monitored
throughout the year.