35 Pension Protection Fund Climate Change Report 2022/23 METRICS AND TARGETS CONTINUED A summary of our Organisational Scope 1, 2 and 3 emissions Emissions (in tonnes using a Scope 2 location-based approach) Sources of Travel Emissions in 2022/23 PPF operations – summary of carbon emissions 350 1% All emissions units in tonnes of carbon dioxide equivalent (tCO e) unless stated otherwise 2 60 % change 300 7% from 275 0 2019/20 2019/20 250 262 2 0% (baseline) 2020/21 2021/22 2022/23 baseline 229 53 200 Energy consumption used to 181 calculate emissions in kWh 1,076,231 1,123,197 1,076,948 936,935 -13% 150 Scope 1 emissions See footnote 1 0 0 0 0 – Location-based 100 See footnote 2 275.1 261.9 228.7 181.2 -34% 50 92% Scope 2 emissions Market-based 0 0 0 0 See footnotes 0 3 & 4 160.5 0 0 0 -100% 2019/20 2020/21 2021/22 2022/23 Domestic by air Scope 3 emissions See footnote 5 60.3 0.2 2.3 53.2 -12% Scope 1 – Energy Emissions Scope 2 – Energy Emissions Scope 3 – Travel Emissions Domestic by other means (location-based) Total Scope 1, 2 and 3 emissions International by air (gross) See footnote 6 335.4 262.1 231.0 234.4 -30% Emissions (in tonnes using both a Scope 2 location-based and Scope 2 International by other means Total Scope 1, 2 and 3 emissions market-based approach) (net) See footnote 7 220.8 0.2 2.3 53.2 -76% Notes: 300 275.1 300 1 Scope 1 covers direct emissions from owned or controlled sources. Our two shared-lease o昀케ce buildings are already e昀케cient, with no direct 261.9 combustion facilities on-site, and BREEAM ratings of ‘Excellent’ or ‘Very Good’ respectively. So our Scope 1 Greenhouse Gas Emissions from 250 228.7 250 fossil fuel combustion are zero (0). 2 A location-based method re昀氀ects the average emissions intensity of grids on which energy consumption occurs (using mostly grid-average 200 60.3 181.2 200 emission factor data). Emissions are calculated using DEFRA conversion factors. 3 A market-based method re昀氀ects emissions from electricity that companies have purposefully chosen (or their lack of choice). It derives emission factors from contractual instruments, which include any type of contract between two parties for the sale and purchase of energy 150 160.5 150 bundled with attributes about the energy generation, or for unbundled attribute claims. 4 All the electricity our o昀케ces use is sourced via 100 per cent renewable electricity tari昀昀s, which have been in place in both o昀케ces since 100 100 the end of October 2019. For the seven months (April to October 2019) we have calculated our market-based emissions as: 275.10*(7/12) = 160.48 (tCO e), where total location-based emissions for 2019/2020 were 275.10 tCO e. 2 2 5 Our Scope 3 organisational emissions include emissions from business travel only at present. 50 53.2 50 6 Our total gross emissions are calculated by aggregating our Scope 1, Scope 2 location-based and Scope 3 business travel emissions. 0 0.2 2.3 0 7 Our total net emissions are calculated by aggregating our Scope 1, Scope 2 market-based and Scope 3 business travel emissions. 0 0 2019/20 2020/21 2021/22 2022/23 Scope 1 – Energy Emissions Scope 2 – Energy Emissions Scope 3 – Travel Emissions (market-based) Scope 2 – Energy Emissions (location-based)