The story

Cembra Money Bank AG (Cembra) — a Swiss-registered bank that provides financial solutions and services to around 1.1 million customers — sought support to enhance its approach to identifying and assessing its greenhouse gas (GHG) emissions. Simply Sustainable was delighted to support Cembra in this endeavour, with the aim of ensuring its GHG emissions are measured and reported in line with international best practice.

Project overview

The finance sector plays a critical role in decarbonising to help limit global warming to well below 2°C (preferably to 1.5°C) in line with the Paris Agreement. Due to their direct control over what they invest in, which subsequently influences what other businesses and individuals can buy or build, banks and other financial institutions are instrumental in driving emission reductions across supply chains worldwide.

In 2022, Simply Sustainable calculated Cembra’s carbon footprints for their 2021 and 2022 reporting periods. Working closely with key stakeholders, Cembra’s GHG emissions were calculated in line with international best practice, including the GHG Protocol: Corporate Standard (2004:2015), the Partnership for Carbon Accounting Financials (PCAF) Financed Emissions (Part A, 2022), and the Science Based Targets initiative’s (SBTi) Financial Institutions (2022).

Following a comprehensive GHG screening and inventory analysis, we ensured that all material scope 1, 2 and 3 emissions from Cembra’s business activities were accounted for in the carbon footprint. With the refinement of the carbon accounting methodology, Cembra’s previous 2021 carbon footprint was recalculated to include all materially relevant emission categories. In response to new guidance issued by the PCAF in December 2022, Cembra calculated the emissions associated with its vehicle investment portfolio for the first time.

The analysis explored all aspects of Cembra’s emissions footprint, including those arising from the value chain (commonly referred to as ‘scope 3 emissions’) and revealed the areas of the business that contributed the largest proportion of emissions (i.e., emission hotspots). Taken together, the findings from the 2021 and 2022 carbon footprints informed the Environmental Stewardship chapter of Cembra’s 2022 Annual Report, which obtained external limited assurance.

To find out how Simply Sustainable can help you on your carbon journey, request a call-back from one of our team of experts.

At Simply Sustainable we develop tailored, robust strategies that are designed to guide our clients to achieve a step-change in their ESG and sustainability performance, creating long-term value and delivering positive impacts on people and the environment.

The story

We were delighted to begin working with WSH, a hospitality business with a host of brands across the UK, Ireland and Europe. This was a fantastic opportunity to support WSH on their mission to develop the business’ first group-wide ESG and sustainability strategy.

From the outset of the project our strategic planning priorities were to acquire a thorough understanding of WSH’s heritage, company culture, external drivers, core operations and goals. Engagement with internal and external stakeholders was fundamental to developing a strategy which personified WSH’s rich heritage and culture. Over 300 stakeholders were surveyed or interviewed, including WSH and subsidiary brand senior leaders, customers and suppliers. This gave us broad-ranging, deep insights into the business priorities. Along with a business impact evaluation for each topic, we produced a comprehensive Double Materiality assessment.

The outcomes of the Double Materiality assessment were complemented with a review of the business’ external ESG drivers to determine the priority ESG topics and key objectives for the strategy.

With the strategic framework in place and consideration of key external drivers and best practice we worked with the leadership team at WSH to co-create a comprehensive set of KPIs and targets with focused objectives. In order to successfully integrate the strategy, we produced a series of focused target action plans covering a period of 18-months. Since the conclusion of the project, we have continued to support WSH through a retained support agreement focused on the development and initiating of a new ESG governance and resourcing framework to ensure the effective allocation of resources and delivery of the strategy.

The final strategy builds upon WSH’s strong heritage of social and environmental performance across its subsidiary brands and the business’ commitment to become an ESG leader within their industry.

To find out how the Simply Sustainable team can help you on your ESG and sustainability journey request a call back here.