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 made by the Task Force for the publication of financial information on climate change (Task Force on Climate-related Financial Disclosures – TCFD).
“The Sphera Group operates and develops based on sustainable principles, therefore the risks associated with climate change are a business priority. This report helps us to identify and plan actions to adapt and become resilient to various changes and challenges caused by the climate, to which our business is exposed”, said Calin Ionescu, CEO, Sphera Franchise Group.
The report is structured around the four TCFD pillars: governance (the Board of Directors oversees 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 climate conditions hypothetical), risk management (identification of financial and non-financial risks), 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 use of resources, energy sources, products and services.
In order to monitor the impact that the company has on the environment through greenhouse gas emissions, Sphera Franchise Group has kept an annual record, starting in 2019, of direct and indirect emissions from energy consumption, achieving a rigorous efficiency, 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 Task Force on Climate-related Financial Disclosures (TCFD) was established in 2015 by the Financial Stability Board (FSB). TCFD’s 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 entire TCFD report can be consulted on the Group’s website, HERE.
