Environmental, Social & Governance (ESG)

Our corporate ESG policy encompasses the way we do business and interact with our people, our clients, our suppliers, our communities and the environment around us. Our commitment to corporate responsibility is in line with our purpose of unlocking global understanding and our values (we partner, we pioneer, we progress, and we deliver), and aims to deliver continual improvement in our economic, social and environmental performance.

ESG Report Read Corporate Sustainability Policy statement

Science Based Targets initiative (SBTi)

In February 2024 RWS submitted two GHG inventories for review by the SBTi Target Validation Team. The SBTi Target Validation team classified RWS’s scope 1 and 2 target ambition and has determined that it is in line with the 1.5c trajectory. SBTi also notes in its report that RWS has chosen to report its emissions outside the minimum boundary.

Read the press release

UNGC and SDGs

In 2020 RWS joined the United Nations Global Compact initiative, a voluntary leadership platform for the development, implementation and disclosure of responsible business practices. Our commitment to sustainability is channelled through specific goals which underpin our actions, operations and reputation and are aligned with the SDGs. RWS participated in the Early Adopter Programme, disclosed our progress on the new Communication on Progress digital platform and had the opportunity to provide targeted feedback to shape the platform last year before its full release earlier this year.

Read Communication on Progress Report

Screenshot showing the identification of key stakeholders in the ESG report by RWS

Stakeholder engagement

Initiating and maintaining dialogue with our stakeholders enables the Group to align our sustainability initiatives and business models to their concerns. This feedback is important during our decision-making processes and enables us to better develop the four pillars of our sustainability strategy. We recognise three distinct levels of RWS stakeholders in our framework, with our clients, colleagues and investors being the central stakeholders for the Group.

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Four pillars of sustainability

Following engagement with all our stakeholders, RWS has mapped its sustainability goals and actions to four pillars.

For each of the pillars identified, we have identified primary goals aligned to the SDGs and have established a set of policies and guidelines to underpin our activities, whilst looking to improve our actions and reporting in each of the areas.

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Screenshot from the ESG Report showcasing the four pillars of sustainability which are environment, people, community and strong goverance

Materiality analysis

Building on last year’s materiality analysis, the Datamaran software has enabled us to gain a continuous, evidence-based review of ESG-related risks within our regulatory, competitive, and operating contexts. This approach ensures that we can continue to build an ESG focus that responds to external events, evolving business priorities, stakeholder expectations, and our own performance results.

The materiality survey went to over 80% of our shareholders, 37.5% of our key clients, our Board, our Executive Team and our Senior Leadership Team. The insights from the materiality analysis showed us that client privacy and data security; colleague diversity and inclusion; colleague health and safety; ethical corporate behaviour; workforce management; human rights; and climate change and GHG emissions are most important to our stakeholders. The matrix ranks the materiality of issues raised.

Topics and definitions

Sustainability Accounting Standards Board Disclosure (SASB)

RWS has chosen to report by disclosing sustainability topics and certain accounting metrics in line with the SASB Standards. In August 2023, the International Sustainability Standards Board (ISSB) of the IFRS Foundation assumed responsibility for the SASB Standards. The ISSB has committed to maintain, enhance and evolve the SASB Standards and encourages preparers and investors to continue to use the SASB Standards.

RWS is supportive of the SASB framework as it allows companies to provide comparable and consistent ESG related data. We have modified some metrics to reflect our domicile in the UK. In addition, we have provided additional metrics where we believe they will provide further information regarding a specific sustainability topic.

We have chosen to report in conformance with the SASB Standard for the Professional & Commercial Services industry, which includes the following disclosure topics:

• Data security

• Workforce diversity and engagement

• Professional integrity

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Global Reporting Initative

As we have over the past two years, we will report FY23, separately, in accordance with the new GRI Standards. GRI helps organisations be transparent and take responsibility for their impacts on people and the planet.

RWS commits to reduce its scope 1 and 2 GHG emissions 54.6% by FY2033 from a FY2022 base year. RWS also commits to reduce scope 3 GHG emissions from purchased goods and services and employee commuting 61.10% per million GBP value added within the same timeframe.

Read the press release