James Fisher uses a number of recognised sustainability frameworks for reporting. Our current framework alignments are: 

Science Based Targets (SBTi):

We previously adopted the globally recognised Science Based Targets initiatives (SBTi) criteria as these provide companies with a clearly defined path to reduce emissions in line with the Paris Agreement goals.

Following our original notification of commitment to the SBTi in 2021, the SBTi paused validation of fossil fuel sector targets and commitments from fossil fuel companies. We are in the process of determining whether this still applies to James Fisher and intend to report our findings in our 2024 Annual Sustainability Report. In the meantime, we remain committed to the SBTi framework and principles and continue to provide responsible stewardship of oil and gas service provision to our customers. 

Greenhouse Gas (GHG) Protocol:

The GHG protocol guides our assessment of the Group's emissions impact of our operations across the entire value chain and identifies where to focus reduction opportunities. The GHG Protocol Corporate Accounting and Reporting Standard and guidance has been used in the development of our Scope 1, Scope 2 and Scope 3 identification, measurement, and reporting methodology. 
 

Streamlined Energy and Carbon Reporting (SECR):

The Group complies with the SECR regulations and is directed by the guidelines set out by the UK government. 

Task Force on Climate-Related Financial Disclosure (TCFD): 

In addition to the UK government mandating TCFD-aligned disclosure, we acknowledge the need for transparency. This includes the value of providing our stakeholders with visibility of the Group's actual and potential impacts of climate-related risks and opportunities on our businesses, strategy and financial planning - where such information is material. Also how the Company identifies, assesses and manages climate-related risks.

The TCFD framework provides a structured approach for effective climate-related disclosures to better inform on how we are handling climate-related risks, opportunities and the Group's resilience to climate change.

James Fisher and Sons plc (the Company) and its group of companies (the Group) has prepared and is pleased to be making its 2023 climate-related disclosures in accordance with UK Listing Rule 9.8.6(8) and section 414CB of the UK Companies Act 2006 (the Companies Act), both of which align to the TCFD framework.

Carbon Disclosure Project (CDP):

The CDP reporting structure promotes visibility and accountability in our management of climate-related risks and opportunities. We maintained an overall score C in 2023 showing signs of stability whilst we continue to mature our level of disclosure. Our value chain engagement score increased while our score for the 'Emissions reduction initiatives and low-carbon products' category came down from C to -C. All other categories were maintained. A scoring review is scheduled in 2024 to identify key gaps and the new CDP questionnaire structure.

UN Sustainable Development Goals (SDGs): 

The SDGs are a call for action in a global partnership. They recognise that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth - all while tackling climate change and working to preserve our oceans and forests.

James Fisher is undertaking activities that support 10 of the 17 SDGs.

Throughout the year, we undertake activities and initiatives which contribute to all aspects of sustainability as part of our commitment to sustainable change and everyday stewardship and therefore are likely influencing other SDGs.

Powering Net Zero Pact (PNZP)

We are proud to be a signatory to the Powering Net Zero Pact (PNZP).

The PNZP brings together different companies across all tiers of the power sector - including civils, shipping, renewables, electrical engineering, and others - that are committed to a fair and just transition to net zero carbon emissions.

The Group will continue to monitor upcoming changes in policy and regulation relating to climate and general sustainability disclosure, further supporting our sustainability performance.