SFG
1.97%
RON41.4
Share price

Sphera Franchise Group publishes climate risk assessment information in accordance with TCFD recommendations in a voluntary reporting effort

9 February 2023. Sphera Franchise Group (stock symbol SFG), the largest group in the food service industry in Romania, voluntarily publishes its first report on the risks and opportunities associated with climate change, based on the recommendations formulated by Task Force on Climate-related Financial Disclosures – TCFD. Thus, the company is strengthening its sustainable practices, tracking the impact of climate change on its operations, and analyzing opportunities to reduce these risks. The TCFD report complements the efforts of the company’s Sustainability Strategy, carried out in accordance with the assumed Sustainable Development Objectives.

“Sphera Group operates and grows based on sustainable principles, therefore the risks associated with climate change are a business priority. This report helps us identify and plan actions to adapt and become resilient to the various changes and challenges caused by the climate that our business is exposed to”, stated Calin Ionescu, CEO, Sphera Franchise Group.

The report is structured around the four TCFD pillars: governance (The Board of Administration supervises the implications arising from the issues generated by climate change), strategy (analysis of climate-related scenarios to assess the potential impact of those significant risks on the business under hypothetical climate conditions), risk management (identification of risks of nature financial and non-financial), performance indicators and objectives (annual calculation of direct and indirect carbon emissions). It presents a series of measures to adapt or mitigate climate risks, but also opportunities regarding the way resources are used, energy sources, products, and services.

To monitor the impact that the company has on the environment through greenhouse gas emissions, Sphera Franchise Group has kept an annual record, starting with 2019, of direct and indirect emissions from energy consumption, making it more efficient, where possible.

Regarding the emissions associated with the supply chains of raw materials and logistics operations, the company aims to carry out a detailed analysis of the emissions associated with third parties and, together with its partners, contribute to the reduction of the carbon footprint.

The publication of the report is part of the Group’s ongoing efforts to increase transparency regarding sustainability actions, presented extensively in the sustainability reports.

Task Force on Climate-related Financial Disclosures (TCFD) – was established in 2015 by Financial Stability Board (FSB). TCFD recommendations are designed to help companies report consistent, useful, forward-looking information on the material financial impact of climate change risks and opportunities for use by lenders, insurers, investors, and other stakeholders.

The full TCFD report is available on Sphera website.