Phoenix Group

The company has a total score of D - Unstructured plan execution. This score reflects two dimensions: transition plan quality (TPQ), for which the company scores 3 out of 5; and contribution to the low-carbon transition (CTT), for which the company scores 0 out of 2. A TPQ score of 3 - “Initial Planning” (shown in the x axis of the figure) means that the company has sufficiently detailed transition planning covering the most material sources of the company’s emissions, incorporating decarbonisation levers and actions, and assigning responsibility for sustainability performance to the highest governance body. However, the company does not provide sufficient evidence that it is influencing suppliers and investors to reduce upstream GHG emissions, or, in the case of financial institutions, that the plan addresses its financial activities or that it influences investees and clients to reduce downstream GHG emissions. (Oil and gas companies are additionally required to establish GHG emissions reduction requirements or targets for the most relevant part of their value chain). The CTT score is 0, meaning that the company is not deploying sufficient levels of low-carbon investments, and the emissions reductions and targets are incompatible with an ambitious 1.5°C sectoral pathway. The y axis in the figure shows the result of indicator F01.A, the alignment of the company’s emissions (for most companies), production (for climate solutions providers) or financial activity (for financial institutions) with a 1.5°C ambition - a key component of CTT. The deployment of low-carbon investments, based on annual investment for real economy companies and the ambition of investment targets for financial institutions, forms another component of CTT and is shown in the scatterplot below.