Report results - SME Climate Hub

Risilience Ltd's Climate Report

Submitted on 2024-09-16

1.1 Reporting year*

2023

1.1.1 Reporting period*

from 1.2023 to 12.2023

1.2 Describe your business activities*

Through a novel climate-intelligence SaaS platform, Risilience works with some of the world’s largest companies to assess their climate- and nature-related risks and opportunities, develop credible and actionable transition plans, and disclose this information transparently and responsibly. Through our solutions, we endeavor to help companies eliminate harmful practices, mitigate negative impacts, and promote positive action across their value chains.

1.4 Number of employees in the reporting year*

1.4.1 Full-time equivalent (FTE) or headcounts*

Headcounts

1.5 Let us know if your company is a parent company or subsidiary*

Not applicable

2.1 Net zero target year*

2050

2.1.1 Base year*

2022

2.2 Near-term target*

50% of intensity scope 1+2 emission reduction from my base year by 2030

2.3 Provide any additional comments or context on your net zero and near term targets.*

Risilience's 2030 goal also includes emissions from travel, in line with SME Climate Hub guidance. To meet this goal, Risilience has adopted a travel policy. The policy follows the principles of first reducing our business travel wherever possible and then ensuring that unavoidable travel is undertaken in the least environmentally-impactful way. Furthermore, where emissions from travel cannot be avoided, we commit to offsetting these emissions in ways that are meaningful and credible. Specifically, we have developed a stand-alone voluntary carbon offsets policy and ensure that we follow emerging carbon offsets guidelines, such as the UK Transition Plan Taskforce (UK TPT) and the UN High Level Expert Group on Net Zero (UN HLEG). In line with being a climate solutions provider, Risilience’s 2030 and 2050 goals regard emissions intensity, versus absolute emissions. Risilience defines emissions intensity as emissions per million GBP turnover. However, Risilience will also calculate and monitor emissions per employee.

3.1 To reduce emissions in line with my commitment, my company has a plan and is taking action*

Yes

Energy consumption

3.2 Total energy consumption*

26719 kwh

3.3 Renewable energy*

26719 kwh

Scope 1 emissions

3.4 Scope 1 emissions*

0 metric tons CO2e

Scope 2 emissions

3.5 Location based scope 2 emissions*

0 metric tons CO2e

3.6 Market based scope 2 emissions*

3.7 Describe your plans and actions taken to reduce scope 1 & 2 emissions.*

Risilience does not have any Scope 1 or 2 emissions: our operations do not create direct emissions, and all our energy is provided through WeWork, a leased office. Instead, Risilience's emissions are located upstream in our scope 3 footprint, notably from our purchased goods and services and business travel. We are therefore prioritising sustainable procurement practices and reducing business travel.

3.8 Describe the calculation methodology and comment on the data accuracy, including any tools/methods used to calculate.*

Energy use data is provided to Risilience by WeWork. We Work calculates total energy usage for their Cambridge, UK office and mutliplies this times the percentage of desks that are occupied by Risilience.

Scope 3 emissions

4.1 Have you measured any of your scope 3 emissions?*

Yes

4.1.1 Total scope 3 emissions*

297 metric tons CO2e

Supply chain related - upstream emissions

4.1.2 Purchased goods and services*

129 metric tons CO2e

4.1.3 Capital goods*

6 metric tons CO2e

4.1.4 Fuel and energy related activities*

0 metric tons CO2e

4.1.5 Transportation and distribution (upstream)*

0 metric tons CO2e

4.1.6 Waste in operations*

0 metric tons CO2e

4.1.7 Business travel*

118 metric tons CO2e

4.1.8 Employee commuting*

32 metric tons CO2e

4.1.9 Leased assets (upstream)*

12 metric tons CO2e

Customer related - downstream emissions

4.1.10 Transportation and distribution (downstream)*

4.1.11 Processing of sold products*

4.1.12 Use of sold products*

4.1.13 End-of-life treatment of products*

4.1.14 Leased assets (downstream)*

4.1.15 Franchises*

4.1.16 Investments*

4.1.17 Do you have a plan and are taking action to reduce emissions from your value chain?*

Yes

We have identified a series of long-term (1-3 years) priority actions to reduce emissions from our value chain as part of our transition plan. One of our action points is working with suppliers to reduce emissions. In line with this, in 2023 we adopted a Sustainable Procurement Policy. This policy seeks to ensure that, despite the relatively small size of our company, we engage with our suppliers to bring about positive change. At present, Risilience does very little procurement of commodities or services. Instead, we rely almost exclusively on employees, and we only occasionally contract with small, highly specialised third parties for work that is core to the services we offer. However, as Risilience grows and broadens its procurement of both commodities and services, we will start to require climate and sustainability data from our vendors in much the same way as we require certain privacy and security information from vendors. Additionally, we have scrutinized the climate commitments and impact of our primary vendor, Amazon Web Services (AWS). AWS have stated that they will be operating on 100 per cent renewable energy by 2025 and achieving net zero by 2040.

4.2 Have you asked any of your suppliers to set a net zero target (either voluntarily or as a requirement)?*

4.2.1 What percentage of your suppliers have you asked?*

4.3 Have you communicated your commitment and actions to any of your customers?*

Yes

4.4 Describe the calculation methodology and comment on the data accuracy and any tools used to calculate your scope 3 emissions.*

The GHG footprint was calculated using a hybrid method with a combination of primary and average data. For categories 3.1. Purchased goods and services, 3.2. Capital goods, 3.4. Upstream transport and distribution, and 3.6. Business travel, a spend-based approach was used. This used Risilience’s spend data for FY2023 and emissions factors derived from Risilience’s Intelligent Futures Scenario Model (IFSM v1.0), a macroeconomic model incorporating data from exiobase, an environmentally-extended input-output (EEIO) model. Emissions from Risilience’s headquarters in Cambridge, UK are accounted for in categories 3.5. Waste generated in operations and 3.8. Upstream leased assets. Primary data is sourced from the building operator on average waste and energy use per desk. The building operator provided emissions related to energy use and for waste, emissions factors are sourced from UK DEFRA 2023. Employee commuting (3.7.) includes employee transportation to work as well as homeworking emissions. An employee survey was conducted to assess the average number of commute days and homeworking days, as well as the transport mode and distance of commuters. Emissions factors were sourced from UK DEFRA 2023 to calculate GHG emissions associated with all employees. We will continue to improve the quality of our GHG footprint data and methodology and will introduce policies to gather primary data.

5.1 Do you classify any of your existing goods and/or services as a climate solution?*

Yes

5.2 What percentage of your total revenue comes from sales of climate solutions?*

100 %

5.3 Provide descriptions/names of your climate solutions:*

Utilizing an award-winning climate-intelligence SaaS platform, Risilience works with some of the world’s largest companies to assess their climate- and nature-related risks and opportunities, develop credible and actionable transition plans, and disclose this information transparently and responsibly. Through our solutions, we endeavour to help companies eliminate harmful practices, mitigate negative impacts, and promote positive actions across their value chains.

5.4 Methodology used to assess these as climate solutions, and third party which has validated the assessment, if any:*

Risilience provides clients the analytics and toolkits to embed sustainability at the core of their business strategy and become profitable sustainably. All our analytics are ultimately aimed at aiding the transition to a net positive economy, defined as net zero emissions and nature positive. We have calculated the Scope 1, 2, and 3 emissions of our clients and see this as a call to action.

6.1 What governance processes do you have in place for your climate strategy? Choose as many as are applicable.*

Governance process in place, Person is responsible for climate strategy at board level

6.1 Explain*

6.1.1 Please describe their position and responsibility.*

Risilience has multiple committees to represent and coordinate different aspects of sustainability and promote a positive and inclusive culture. Each committee has an executive sponsor who is responsible and accountable for its success. Of note, the Chief Information Officer sits on the Sustainability Committee at Risilience. This committee oversees all internal and external sustainability-related decisions and processes, manages all internal ESG data, designs our sustainability policies and practices, and is responsible for external sustainability reporting.

6.1.2 Is this person (or another at executive and board level) also responsible for climate risk?*

Yes

6.2 Have you started to identify and assess your companies climate risks and opportunities?*

Yes - we have identified both climate risks and opportunities

6.2.1 Where are the climate risks you've identified?*

Value Chain

6.2.1 Explain*

6.2.2 How are you managing these climate risks? Choose as many as are applicable.*

We've assessed these risks against revenue of the company, We’ve quantified the amount and percentage of assets or businesses activities vulnerable to climate risk, We've Identified plans for adaptation to mitigate these risks, We've Integrated these adaptation plans into business practices

6.2.2 Explain*

6.2.3 Provide any additional comments or context on your climate risks:*

Our main business activity is building and operating a Saas platform which allows companies to assess their physical and transition risks. Risilience has no physical assets, so most of this modeling is not applicable to our own business operations. Nonetheless, we have used our risk assessment frameworks to map out our climate risks and areas where possible, and we have identified where our scope 3 emissions can be reduced.

6.3 Have you integrated climate and/or nature into your company mission statement or shareholder agreements? If yes, describe how.*

Yes

Risilience's mission statement reads that: "Risilience exists to enable a net positive economy: net zero emissions and nature positive."

6.4 Have you taken actions this year outside of your emissions to accelerate climate progress?*

Yes

Risilience has joined the UN Race to Zero Campaign. Throughout 2023, Risilience also donated more than £6500 to an array of initiatives and organizations important to team members. Many are focused on environmental protection and justice, including National Energy Action and WaterAid. Risilience also participated in afternoon volunteering with CoFarm Cambridge, Cambridge's first community farm. Furthermore, Risilience is proud to be the official Finance Partner of Climate Week NYC 2024.

7.1 Provide any additional comments or context on your annual results and progress from previous years.*

In the past, Risilience has reported positive Scope 2 emissions. However, this year Risilience has included energy-related emissions in our Scope 3 emissions footprint, given that these emissions are connected to a leased asset.

7.2 Do you face any key challenges in reducing emissions?*

Reducing scope 3 emissions, Reducing emissions from business travel, Balancing emission reductions with business growth, Limited influence over suppliers

Specify other challenges*

7.3 Has there been any third party validation of the data submitted in this report?*

1.1 Reporting year*

2023

1.1.1 Reporting period*

from 1.2023 to 12.2023

1.2 Describe your business activities*

1.4 Number of employees in the reporting year*

1.4.1 Full-time equivalent (FTE) or headcounts*

Headcounts

1.5 Let us know if your company is a parent company or subsidiary*

Not applicable

2.1 Net zero target year*

2050

2.1.1 Base year*

2022

2.2 Near-term target*

50% of intensity scope 1+2 emission reduction from my base year by 2030

2.3 Provide any additional comments or context on your net zero and near term targets.*

3.1 To reduce emissions in line with my commitment, my company has a plan and is taking action*

Yes

Energy consumption

3.2 Total energy consumption*

26719 kwh

3.3 Renewable energy*

26719 kwh

Scope 1 emissions

3.4 Scope 1 emissions*

0 metric tons CO2e

Scope 2 emissions

3.5 Location based scope 2 emissions*

0 metric tons CO2e

3.6 Market based scope 2 emissions*

3.7 Describe your plans and actions taken to reduce scope 1 & 2 emissions.*

3.8 Describe the calculation methodology and comment on the data accuracy, including any tools/methods used to calculate.*

Scope 3 emissions

4.1 Have you measured any of your scope 3 emissions?*

Yes

4.1.1 Total scope 3 emissions*

297 metric tons CO2e

Supply chain related - upstream emissions

4.1.2 Purchased goods and services*

129 metric tons CO2e

4.1.3 Capital goods*

6 metric tons CO2e

4.1.4 Fuel and energy related activities*

0 metric tons CO2e

4.1.5 Transportation and distribution (upstream)*

0 metric tons CO2e

4.1.6 Waste in operations*

0 metric tons CO2e

4.1.7 Business travel*

118 metric tons CO2e

4.1.8 Employee commuting*

32 metric tons CO2e

4.1.9 Leased assets (upstream)*

12 metric tons CO2e

Customer related - downstream emissions

4.1.10 Transportation and distribution (downstream)*

4.1.11 Processing of sold products*

4.1.12 Use of sold products*

4.1.13 End-of-life treatment of products*

4.1.14 Leased assets (downstream)*

4.1.15 Franchises*

4.1.16 Investments*

4.1.17 Do you have a plan and are taking action to reduce emissions from your value chain?*

Yes

4.2 Have you asked any of your suppliers to set a net zero target (either voluntarily or as a requirement)?*

4.2.1 What percentage of your suppliers have you asked?*

4.3 Have you communicated your commitment and actions to any of your customers?*

Yes

4.4 Describe the calculation methodology and comment on the data accuracy and any tools used to calculate your scope 3 emissions.*

5.1 Do you classify any of your existing goods and/or services as a climate solution?*

Yes

5.2 What percentage of your total revenue comes from sales of climate solutions?*

100 %

5.3 Provide descriptions/names of your climate solutions:*

5.4 Methodology used to assess these as climate solutions, and third party which has validated the assessment, if any:*

6.1 What governance processes do you have in place for your climate strategy? Choose as many as are applicable.*

Governance process in place, Person is responsible for climate strategy at board level

6.1 Explain*

6.1.1 Please describe their position and responsibility.*

6.1.2 Is this person (or another at executive and board level) also responsible for climate risk?*

Yes

6.2 Have you started to identify and assess your companies climate risks and opportunities?*

Yes - we have identified both climate risks and opportunities

6.2.1 Where are the climate risks you've identified?*

Value Chain

6.2.1 Explain*

6.2.2 How are you managing these climate risks? Choose as many as are applicable.*

6.2.2 Explain*

6.2.3 Provide any additional comments or context on your climate risks:*

6.3 Have you integrated climate and/or nature into your company mission statement or shareholder agreements? If yes, describe how.*

Yes

Risilience's mission statement reads that: "Risilience exists to enable a net positive economy: net zero emissions and nature positive."

6.4 Have you taken actions this year outside of your emissions to accelerate climate progress?*

Yes

7.1 Provide any additional comments or context on your annual results and progress from previous years.*

7.2 Do you face any key challenges in reducing emissions?*

Reducing scope 3 emissions, Reducing emissions from business travel, Balancing emission reductions with business growth, Limited influence over suppliers

Specify other challenges*

7.3 Has there been any third party validation of the data submitted in this report?*

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