Responding to urgent climate change challenges and opportunities in our 2023 report

Since our first publication in 2022, we have reviewed how we operate under the four pillars of TCFD, redefining our overall governance, strategy and how our risks and opportunities are managed. Recognising the increasing significance in climate risk, we are proud to have greatly expanded our TCFD methodology and research in 2023, reporting against three of our main regions (United Kingdom, North America and Europe).

As a responsible business, we want to transform performance for a green, inclusive and productive world. The challenges our industry faces, whether economic, social or climate-related, require fresh thinking and new solutions.

The climate crisis poses increasingly significant risks and for this reason we have incorporated the recommendations of TCFD and embedded them into our climate-related considerations as a business.

Assessing climate risk management

Climate risk management is one of the four core elements identified in our TCFD report. Risks are categorised into two groups: transition and physical.

Our methodology is underpinned by an extensive, stratified review and analysis process. Physical risks were assessed against each scenario using a combination of quantitative and qualitive sources, including publicly available and regionally appropriate open-source climate data.

Transition risks were assessed against each scenario by several well-placed, internal subject matter experts combining regional research – such as existing and emerging regulatory requirements – with their deep knowledge of our business and operations.

From a physical risk perspective, heat stress, wildfires and adverse weather conditions related to water, inclusive of increased precipitation and storm events, are likely to have adverse effects on our operations. To mitigate these challenges, we have integrated the findings into our business sustainability planning and office selection criteria.

From a transition risk perspective, there are both risks and opportunities related to regulations, related to carbon pricing and reporting obligations.

Our priorities

We align with TCFD guidance which maintains that a company should provide a transparent, clear description of the resilience of our company's climate strategy, taking into consideration different climate-related scenarios.

Our net-zero strategy, NewLeaf, addresses our goals through targets, actions, management and collective responsibility for reduction of our total greenhouse gas (GHG) emissions. NewLeaf complements our industry-leading market services to accelerate our clients’ own decarbonisation goals.

Using the TCFD methodology, we identify opportunities to respond to climate risk, and to strategically align these actions with our NewLeaf sustainability strategy and net-zero ambitions.

Our global team continue to develop some of the world's most exciting, complex and purposeful programmes. Through our work we aim to be at the centre of the world's clean energy and decarbonisation transition, while sustainably managing our natural resources to enable security and social prosperity. Our strategy is to mitigate the worst effects of the climate crisis and incorporate resilience into our operations, supply chain and our work with clients across the globe.

James Dand, Chief Operating Officer, said:

Our Purpose at Turner & Townsend is to transform performance for a green, inclusive and productive world.

"Against a backdrop of increasing complexity, we are living this Purpose through our work supporting clients globally to deliver on their net-zero commitments and transition to clean energy. Equally, we are working hard to decarbonise our own business."

"This is our second TCFD disclosure, which reflects our commitment to understanding and integrating climate risk into our risk management governance, processes and strategies, as well as our commitment to achieving our net-zero goals."