The contract catering company will align its next climate impact report with the latest guidelines that call for ‘high-quality and credible transition plans’ to be publicly disclosed and increasingly integrated into financial reporting and business strategies.
The TPT is an advisory group launched by HM Treasury at COP26 to help build international consistency and coherence in the emerging landscape of transition planning and disclosure guidance.
Compass Group UK&I will share detail on all five recommended disclosure elements: implementation and engagement strategy, emissions reduction performance to date, key metrics and targets and the business’ response to risks and opportunities identified across key areas of materiality.
Carolyn Ball, director for delivery of net zero at Compass Group UK&I, said: “The TPT underlines why greater transparency and consistency in environmental disclosures is vital if we are to accelerate meaningful climate action across every sector of the economy.
“For Compass, it’s also an opportunity: to demonstrate how, by embedding high quality transition planning into the business model, expanding our economic analyses and increasingly integrating this data within our financial reporting, we can support our clients, progress our shared objectives and increase the impact we can achieve together.”
Sector-specific information on products and services managed by the six businesses Compass Group operates under its UK&I division will also be disclosed in the context of the 181m meals it serves across 4,000+ locations.
The detail will shape and inform its second standalone impact report since announcing its commitment to reach climate net zero by 2030 which will be released at a day-long summit in London, early next year. Over 150 delegates, including Compass’ clients from leading private and public sector organisations worldwide, will be invited to attend.