S USTAINABILITY REPORT 2024

Stepping up
Sustainability is our businessStepping up

OVERVIEW

Through our work with clients, our

DATAAll images used in ERM’s Sustainability Report 2024
were provided by ERM employees, except where notedin the photo credits. Thank you to all of the talented
employees who contributed these images.

collaborative partnerships and across
our own operations and value chain,

ERM’s Sustainability Report 2024 covers the fiscal
year 2024 (FY24) from 1 April 2023 to 31 March 2024.

ERM is stepping up to meet theincreasingly urgent and inter-related

We report in financial data in United States dollars,
unless otherwise noted.

global challenges of climate change,

In the interest of sustainability, view this report indigital form only – please do not print.

nature loss and social inequity.
For more than 50 years, ERM has remained committed
to credible and authentic sustainability leadership.
But as the pace of change accelerates, we must work
harder. As our report highlights, we are stepping up
our actions.

MATERIAL TOPICS

This image was taken by Riccardo Boniardi, Italy,
while enjoying a clear autumn day during a team hiketo Mount Cazzola at Alpe Devero, in Central Alps.

Supplementary information
For those seeking further information, we provide downloadable files of our sustainability data, GRI Index
and serveral key documents that supplement ERM's Sustainability Report. For more information contact
sustainability@erm.com.
Executive Summary
Human Rights Strategy
Modern Slavery Statement
Decarbonization Strategy
Climate Supplement

Sustainability Report 2024

CFD/TCFD Disclosure
Supplement
Nature Strategy
Sustainable Supply Chain
Strategy

Supporting the SDGs
GRI Index
Sustainability Performance Data
External assurance

2

CEO message

OVERVIEWFor over a decade, we have reported formally on oursustainability performance, in line with international
standards and best practice and we are proud to be a
Global Reporting Initiative community member.
The theme of this year’s report is “Stepping Up”. Why?
For the simple reason that the sustainability challenges
facing society today continue to grow in scale, pace andcomplexity. This requires organizations everywhere to
do two things: step up on ambition and double-down on
impact. As the countdown to 2030 continues, we must
all aim higher and work harder to maximize our positive
impact by continuing to implement the ten principlesof the UN Global Compact and contributing to the UN
Sustainable Development Goals.
Tom Reichert

At ERM, that means stepping up our progress across thethree macro sustainability issues of our time—climate,nature and water and social inequality.

I’m delighted to present ERM’s

For example, we have sustained our greenhouse gas
emission reductions, and our updated Decarbonization
Strategy includes our new emission reductions targets,
validated by the Science Based Targets initiative as inalignment with the Net-Zero Standard, which will see
us deliver net-zero by 2040.

ERM Group CEO

Sustainability Report 2024, whichshowcases the progress we have madeacross our sustainability priorities andtargets over the last financial year.

Sustainability Report 2024

We have delivered nature projects in over 100 countries
and our new Nature Strategy sets out our contribution
to halting and reversing biodiversity loss by 2030
and working towards a nature positive future, which
includes being an early adopter of the Taskforce for
Nature-Related Financial Disclosures.

MATERIAL TOPICSDATA

And with over 50 million people estimated to be subject
to modern slavery, our new Human Rights Strategy setsout how we at ERM are committed to addressing therisk of modern slavery across our value chain, consistent
with our commitment to the UN Declaration of Human
Rights, UN Guiding Principles on Business and Human
Rights and the International Labor Organization
Principles and Fundamental Rights at Work.
As the world’s largest specialist sustainability
consultancy, the greatest impact we can have is throughthe work delivered for our clients by our 8,000 people.
This year’s report contains a wealth of data and stories
about how this work delivers real change on the ground.
For example, supporting projects contributing to inexcess of 200 GW of renewable energy capacity; treating
2.4+ billion liters of water; and treating, destroying or
removing 12.8+ million kilograms of contaminants. It is
inspiring to reflect on these numbers and also exciting
to consider how much more we can do in the future.
Thank you to everyone who has helped contribute to
the progress detailed in this report. ERM’s purpose is
to shape a sustainable future with the world’s leadingorganizations, which requires close collaboration
across our clients, people, partners, suppliers andwider stakeholders.
I look forward to working with all of you as we step
up to the challenges of the future and deliver theopportunity of a sustainable future for us all.

3

Foreword from our Global Leader of Sustainability & Risk
When ERM started reporting on our sustainability
performance 12 years ago, such disclosures were
voluntary and undertaken as a matter of corporate
commitment to best practice. Fast forward to 2024
and reporting on sustainability topics has become amandatory requirement for many companies acrossthe globe, as regulators seek to instill greater rigor
in reporting practices.

Sabine Hoefnagel
Global Leader of Sustainability & Risk

The proliferation of disclosure regulations andstandards presents a challenge for organizations
seeking to harmonize reporting across geographies
and the interoperability of requirements remains apressing need. ERM is currently supporting clients
across the globe to navigate this rapidly changing
and complex disclosure landscape.

OVERVIEW

MATERIAL TOPICSDATA

we deliver to clients and the contribution that ourthought leadership and collaborations with partners
make to the global sustainability agenda.
We are a business whose purpose is to shape a sustainable
future with the world’s leading organizations. Together,
we are stepping up to create that future.
We hope you find this report informative and welcome
your feedback which can be emailed tosustainability@erm.com.

This report sets out our performance for our fiscal
year 2024 (FY24) but also provides a lookahead toour priorities throughout FY25 and beyond, which
includes our preparation for disclosing under the
Corporate Sustainability Reporting Directive (CSRD)
and International Financial Reporting Standards (IFRS)
among others.
What drives our disclosure however is not regulation
but responding to stakeholder interests throughour ongoing commitment to be a credible leader insustainability, demonstrating by example the advice
that we provide to our clients and wider stakeholders.
We have structured this report to set out how we asa business strive to maximize our impact throughoperationalizing sustainability, alongside the work

Sustainability Report 2024

4

Contents

OVERVIEW

Sustainability Report 2024

MATERIAL TOPICS

DATA

Overview

Sustainability trends
About us
Targets & goals

Material topics

Materiality & impact
28
Governance41
People61
Human Rights
83
Climate93
Nature109
Supply Chain
129

Data

Performance data
Reporting context

7
10
23

141
174

5

OVERVIEW

MATERIAL TOPICS

DATA

Photo credit: Edward Huang, Taiwan

Overview

Sustainability Report 2024

ERM is the world's largest specialist sustainability
consultancy. We create innovative solutions to meetthe sustainability challenges of today and positively
impact the future.

OVERVIEW

Sustainability trends
About us
Targets & goals

7
10
23

6

OVERVIEW

MATERIAL TOPICS

DATA

Sustainability trends
Each year, The ERM Sustainability Institute by ERM publishes anannual report exploring the 10 key sustainability trends that will
inform business thinking.

2024 Trends

8

Photo credit: Daniel Savage, Canada

Sustainability Report 2024

OVERVIEWSUSTAINABILITY TRENDS

7

2024 Trends

OVERVIEWThis year, the urgency to address known
challenges such as climate change withincreased prioritization around issues
such as sustainable supply chain
management, nature and human

1. Responding to climate change. The urgencyof addressing climate change is increasing
stakeholder pressure on governments, companies
and organizations to accelerate decarbonization.
Lenders, investors and other stakeholders are
putting pressure on companies to decarbonize
before pursuing abatement via carbon markets
and technological carbon removal. Rebuilding trustin the carbon markets through a focus on integrity
is key to mobilizing finance.

Sustainability Report 2024

OVERVIEWSUSTAINABILITY TRENDS

4. Safeguarding natural systems. The importanceof sustainable management and protection of our
natural systems has become a focus for significant
stakeholder attention. Governments are acting
decisively, with a new suite of regulations coming
into force. Companies are responding by developing
their strategic response, looking to understandwhere nature-related risks and opportunities
exist which can also realize social benefits. Thisrequires engaging with supply chains as part oftheir corporate response. Large investors are drivingpressure on companies while expanding naturerelated financing.
5. Streamlining sustainability disclosures. The scaleand scope of mandatory reporting requirements havenever been greater, as more sustainability disclosure
regulations come into force. While Europe may beat the forefront, international financial regulators
across the globe are also seeking to progress
the adoption of the International Sustainability
Standards Board (ISSB) disclosure standards as
the drive towards global sustainability corporate
disclosures becomes inexorable. The provision ofrobust information to auditable standards will be
critical for companies.
8

TA R GETS & GOA L S

3. Integrating enviornmental, social and governance(ESG). While anti-ESG backlash is being witnessedin some locations, Europe and other economies havecontinued to push forward with further legislationand companies are facing ever more stringent
disclosure requirements. Companies are investingin new sustainability data management systems,

processes and capabilities to support the accuracyof disclosures. Companies are dialing back rhetoricin marketing, in what is known as “greenhushing”.
Investors continue to favor strong ESG performers fortheir portfolios, and the drive for enhanced corporate
sustainability performance in 2024 continues apace.

AB OUT US

2. Valuing human capital. The legacy of the COVID-19
pandemic continues to see companies innovating
to enhance office working environments to lure
employees back. Employee engagement is being
viewed holistically, focusing on supporting employee
success and personal growth. Skills are now being
viewed as important as formal education by recruiters,
as companies take a broader perspective on whatdefines a valued employee in their workforce.

DATA

S U S TA INA B ILIT Y T RE NDS

capital remains strong.

Collectively, these issues reinforce the strategic
importance of sustainable transformation for companies
across the globe and 2024 will be a pivotal year in
supporting businesses to achieve this.

MATERIAL TOPICSOVERVIEW

Sustainability Report 2024

OVERVIEWSUSTAINABILITY TRENDS

9. Respecting fundamental rights. The protection ofhuman rights has become a corporate priority, as
regulators and wider stakeholders demand stronger
action for business. There is growing scrutiny of therole of companies in tackling inequality, violationsof human rights and modern slavery. Key to theregulatory push has been the requirements forstronger visibility and management of corporate
supply chains, as companies proactively assess
the risks within their supplier base and identify
appropriate remedy. Considering Just Transition
principles in energy transition strategies is an
essential part of the response.

TA R GETS & GOA L S

8. Apply technology to sustainability. As artificial
intelligence (AI) and new green technologies
become more prevalent, so does the need forstronger governance and accountability for theiruse. Companies are alert to the significant potential
benefits of using such technologies to support
their sustainability operational performance andreporting but also mindful to mitigate against ethicaland environmental risks. In the face of increasing
regulation, companies will need to navigate thegrowing use of AI within the constraints of their own
business codes of conduct and ethics, and that whichgovernments and regulators impose.

AB OUT US

7. Enabling sustainable consumption and production.
The need for sustainable consumption andproduction practices has long been known and is
finally breaking through into mainstream corporate
practice. Pressure from governments, investors andconsumers is driving enhanced corporate scrutinyof their production and packaging processes. The
benefits of circularity and sustainable sourcing are
becoming more widely known and are expected
to become a key driver for companies looking
to enhance not just the sustainability of theiroperations but also their commercial performance.

DATA

S U S TA INA B ILIT Y T RE NDS

6. Building sustainable and resilient supply chains.
Sustainable supply chain management is no longer
a voluntary corporate initiative but a matter ofcompliance, as regulations require companies toreport on the ESG performance of their suppliers.
Companies are focusing first on engagement togain better visibility, before progressing to stronger
governance and in the near future, mandating
performance requirements in key areas such as
decarbonization. First movers will capitalize upon
the advantage of early action to engage and aligntheir supply base.

MATERIAL TOPICS

10. Navigating the evolving political landscape.
Geopolitical instability continues as ongoing
conflict or threat of conflict looms in Eastern
Europe, the Middle East and Asia, among otherareas. Companies continue to monitor the situation
carefully and the risks posed to operations andsustainability performance. Remaining agile in theface of uncertainty strengthens business resilience,as geopolitical instability is becoming the newcorporate normality, requiring enhanced due
diligence and monitoring.
Photo credit: Silvia Marques, United Kingdom

9

OVERVIEW

MATERIAL TOPICS

DATA

About usSustainability is our business.
ERM partners with clients to operationalize sustainability atpace and scale, deploying a unique combination of strategictransformation and technical delivery capabilities. This approachhelps clients to accelerate the integration of sustainability at
every level of their business.
With more than 50 years of experience, ERM’s diverse team of
8,000 experts in 40 countries and territories helps clients create
innovative solutions to their sustainability challenges, unlocking
commercial opportunities that meet the needs of today while
preserving opportunity for future generations.

Our value chain
14
Our purpose & strategy
15
Our industries, services & supply chain 16
Operationalizing sustainability
17
Supporting the Sustainable
Development Goals
22

Sustainability Report 2024

OVERVIEWABOUT US10

OVERVIEW

MATERIAL TOPICSDATA

FY24 highlights
OPERATIONSCLIENTSCOLLABORATIONSSupported renewable energy projects contributingOver

installed capacity

28%

Validated

updated SBTi
strategies Net-Zeroacross Human Rights
Standard
and Naturealigned targets

Sustainability Report 2024

OVERVIEWABOUT US8commercial partnerships
announced

insights and thought
leadership reports

TA R GETS & GOA L S

25
12.8+ million
Treated, destroyed or removed

with the world's leading organizationsA B OUT U S

litres of water

published by ERM Sustainability Instituteof all projects
tech enabled

employee promotions

Launched

2.4+ billion

60%

1,000

20

Treatedgrowth in energy
transition salesOverstoragekilograms of contaminants

EngagedWorked on

1,800+ 81
executives
to drive safety
leadershipsites
within21 of the 100 priority
water-stressed basins
globally

ERM Foundation supported

SUSTAIN AB IL ITY TREN D S$1 billion+ 200+ GW 10+ GW
annual revenue

global strategic
partnerships

across29
49 organizations
NGO

countries$600,000+ disbursed
through grant funding and pro bono support

11

OVERVIEW

MATERIAL TOPICSDATAAwards and recognition in FY24

LeaderBest

in the 2024 ESG andsustainability consulting
Green Quadrant by Verdantix

ESG Advisory Firm in Private
Equity Wire’s European Awards.

technical advisor by deal
value in Europe in Infralogic’s
Technical Advisor rankings.

Sustainability Report 2024

OVERVIEW

Platinum

TA R GETS & GOA L S

A top performer inWorld Business Council for
Sustainable Development(WBCSD) annual review ofcompanies’ sustainability
reporting, Reporting Mattersfor the 5th year running.

Visvesh Sridharan, ESG Integration
Lead at ERM, named a sustainability
rising star in by GreenBiz 30 Under 30.

A B OUT U SGold Medal for sustainability
achievement by EcoVadis,
placing ERM in the top 5%of companies assessed.

Royal Society for the Prevention of
Accidents (RoSPA) President’s Awardafter achieving 10 consecutive
Gold Awards.

SUSTAIN AB IL ITY TREN D S#1ERM and EESI Remediation
Limited UK were awarded the“Remediation Project of theYear” by Environmental
Analyst Global in the
Sustainability Delivery
Awards 2024.

score in the Highwire
safety awards.

Best Technical Adviser – New
Technologies as part of Inspiratia'sEurope Energy Transition Awards.

ABOUT USBest
outreachaward in the Clean Hydrogen
Partnership Awards.

IJGlobal ESG Technology Award in
Energy for ERM emissions.AI.

12

OVERVIEW

MATERIAL TOPICSDATA

A refreshed brand energizes ERM’sdrive to help build a sustainable future

ERM has been partnering withorganizations for more than 50 years.
We have evolved over the years as we
SUSTAIN AB IL ITY TREN D S

seek new ways to help organizations
tackle their sustainability challenges
and during FY24, we launched arefreshed brand that captures ERM’s

A B OUT U S

renewed energy and capabilities.

TA R GETS & GOA L S

ERM’s original brand had its foundations in science andnature. Our refreshed brand builds on this rich heritage
and the central role of nature in our future through thecontinued use of a spiral. It also captures the economic
and societal transformation now needed, which we are
passionate about helping to drive.
This vibrant new visual identity represents the ERM of
today, inspired by the many talented people who workinside our business. Together, we are more energizedthan ever about helping to build a sustainable futurefor generations to come.

Photo credits: ERM

Sustainability Report 2024

OVERVIEWABOUT US13

Our value chain

OVERVIEW

MATERIAL TOPICSDATA

We adopt a value chain approach to our management ofsustainability-related risks, opportunities and impacts.
Upstream our value chain includes employees, partners and investors who areshareholders in the business, our offices and the materials required to support them.

SUSTAIN AB IL ITY TREN D S

Our supply chain is diverse, spanning the breadth of our global offices and countries
within which we deliver our services. It encompasses many services and activities,
from site investigation to translation services.
Downstream, our value chain encompasses our clients, the communities they operate
in and their own supply chains, alongside partner organizations, global society andthe environment. Across our value chain, we seek to work with organizations whoshare our purpose and values in working towards a nature positive future.

A B OUT U S

Photo credit: Will France, United Kingdom

TA R GETS & GOA L S

Supply chain
and suppliers'
value chains ​Sustainability Report 2024

Direct operations​
Employees,
offices, investors

OVERVIEWABOUT US

Clients
and theirvalue chains

Partnerships
and the ERM
Foundation

Impact onsociety and theenvironment

14

Our purpose & strategy

OVERVIEW

We put our purpose, beliefs and behaviors at the coreDATA

OUR PURPOSE

of everything we do. They serve as the compass to guideTo shape a sustainable futurewith the world’s leadingorganizations. ​decision-making and wider stakeholder value to maximize
our impact, drive value for clients and foster engagement
and meaning for our employees.

SUSTAIN AB IL ITY TREN D S

We deliver our purpose through our business strategy of operationalizing
sustainability, working with clients to support sustainable transformation, andthrough our partnerships and collaborations, in line with our commitment to support
the United Nations Sustainable Development Goals (SDGs).

OUR BELIEFS

Together wechallenge

We operationalize
sustainability for ourclients with leading
technical depth fromend-to-end. ​Impactignites us
We are results-driven
and impact-obsessed
while always actingwith the highest
integrity andaccountability.​

TA R GETS & GOA L S

We foster genuine
trust and collaboration
to address theworld’s sustainability
challenges. ​​Expertise is
our superpower

A B OUT U S

As we grow and respond to market need, we will focus on long-term value creationand extending our impact on the environment and society. To sustain this growth,
we continue to enhance our platforms, systems, internal structures and capacity
to ensure we are resilient in the face of increasing client demand.

MATERIAL TOPICSHELP US TO DELIVER FOR

Our clients

Sustainability Report 2024

OVERVIEWABOUT USOur people

Our investors

The planet and society

15

Our industries, services & supply chain
Our industries
ERM supports clients across industry sectors. Our
primary industries include:• Chemicals• Diversified energy• Financial services

DATA

ERM services
Capital Project Delivery

Health & Safety• Power• Renewables• Technology, media and telecommunications

Clients all over the world call on ERM to help them
respond to complex sustainability ambitions including
building business resilience, supporting the transition
to a low-carbon future, and enabling progress on theirsustainability priorities.
Our diverse global team of experts works with theworld’s leading organizations to help them set clear

ABOUT US

Further information on our supply chain is set out in
the Supply chain section of this report.

Corporate Sustainability& Climate Change

Sustainable Product& Supply Chain
Social Impact& Human Rights

TA R GETS & GOA L S

Our services

Mergers & AcquisitionsA B OUT U S

We also work in Aerospace, Automotive, Consumer
Products and Retailers, Food and Drink, Government,
Legal, Real Estate and Land Development, Textiles
and Apparel and Transportation industry sectors. For
further information on our work in these industries,
see erm.com.

To ensure we meet the diverse needs of our clients,
we subcontract services when required to support
the delivery of our work. Our supply chain spans thebreadth of our global offices and countries within which
we deliver our services. We engage contractors who
provide specialized expertise, from construction andheavy equipment operators to local and Indigenous
natural and social scientists.

SUSTAIN AB IL ITY TREN D S• Mining and metals

OVERVIEW

MATERIAL TOPICS

Our supply chain• Manufacturing and pharmaceutical

Sustainability Report 2024

sustainability targets, measure progress andoperationalize strategy through deep implementation
and business transformation. We offer services tosupport clients across their operational needs, whether
they require focused technical attention or full top-tobottom strategy and solutions. For further informationrefer to ERM's services.

OVERVIEW

Liability Portfolio Management& Remediation
Sustainable Operations

Nature & Water

Carbon Markets

16

Operationalizing sustainability
Operationalizing sustainability is a business imperative for

OVERVIEW

MATERIAL TOPICS

DATA

ERM's Sustainability operational programs

ERM that is integral to our long-term strategy, operational
planning and management.

SUSTAIN AB IL ITY TREN D S

It provides a framework that enables us to effectively manage our sustainabilityrelated risks and opportunities, drive continual improvement and deliver upon our
positioning as a leader in sustainability advisory services. Our Sustainability
Policy, Sustainability Approach and the contents of this Sustainability Report 2024
reflect the strategic priority which we place on integrating sustainability within
our own operations.

A B OUT U S

Implementation of our operational programs is led by the Group Sustainability teamworking in conjunction with key global functional teams including Operations,
Finance, Legal, Risk, People, Clients and Services, and supported by senior leadership
across our operations.
We have four key operational programs, comprising:• Climate: Decarbonizing our value chain in line with our science-based targets.

TA R GETS & GOA L S• Nature: Progressing our operations towards a nature positive future.
• Human rights: Respecting and promoting human rights across our value chain.
• Supply chain: Enhancing supplier sustainability performance.
Supporting the delivery of these operational programs are ERM’s suite ofsustainability strategies which set out our objectives, governance, management
systems and targets. Further information on the respective strategies, programs andlatest performance data is included in this report and can be found at erm.com.m.com

Sustainability Report 2024

OVERVIEWABOUT US17

OVERVIEW

MATERIAL TOPICS

DATA

ERM's Sustainability Network
Employee engagement is crucial for successfully driving
performance in our sustainability program. Our programis supported by a voluntary Sustainability Network ofmore than 260 employees across our global footprint.

SUSTAIN AB IL ITY TREN D S

The network mirrors our operational organization withrepresentatives at regional, business unit (BU) and officelevels, who support our global programs through thedelivery of initiatives across our offices in addition to
responding to local priorities.
Key areas of focus include:A B OUT U S• Engagement: Engaging employees in programs thatconnect them to the business of sustainability anddrive internal performance. Examples include Global
Goals Week and International Coastal Cleanup, Plasticfree July, Low-Carbon Learning Series and Earth Day.

TA R GETS & GOA L S• Performance: Contributing to the development ofeach country or BU Sustainability Action Plans to help
ERM meet our public commitments on sustainability
and address local priorities.
• Reporting: Supporting the collection and review
of selected sustainability data for internal andexternal reporting.

Photo credits: ERM

Sustainability Report 2024

OVERVIEWABOUT US18

OVERVIEW

MATERIAL TOPICS

DATA

Sustainability Network highlights
Throughout the year, members of the Sustainability Network organize office-level employee volunteer events in support of local initiatives.

ASIA PACIFICEUROPE, MIDDLE EAST & AFRICAOVERVIEWABOUT US19

TA R GETS & GOA L S

Sustainability Report 2024

A team of volunteers from our
Network members in offices inFrance held a series of brownbag
lunch sessions, engaging employeeson the topic of nature. One session
included inviting children of
employees for an education session
and planting radish seeds inupcycled egg cartons.

A B OUT U S

To mark International Coastal
Clean-up Day, Sustainability Network
members in our Singapore office helda Community Day at Changi Beach.
A group of 45 employees and family
members combed 1.5 kilometers along
the beach to gather trash. In total,they removed 64 kilograms of nonrecyclable waste and 28 kilograms ofrecyclables. The event ended with a
fun and educational intertidal walkfeaturing the rich biodiversity along
Changi Beach.

A team of volunteers from ourManchester, United Kingdom,
office spent an afternoon helping
at a local retirement home, incollaboration with Sow the City,a charity committed to creating
green spaces and empoweringcommunities to grow and live
sustainably. The team built
and leveled raised beds andalso constructed planters anda potting bench to enable theresidents to grow their own
fruits and vegetables.

SUSTAIN AB IL ITY TREN D S

Employees in our Korea office got
involved in “plogging” (combining
jogging and litter picking) along theCheonggyecheon. The team enjoyedtheir time together while being able
to contribute to the wellbeing ofour planet.

OVERVIEW

MATERIAL TOPICS

DATA

Sustainability Network highlights, continued

Members of the Sustainability Networkin our Peru office work with several
strategic partners to ensure a beneficial
end for wastes generated by ouroperations. This includes working
with two organizations who manage
our electronic and electrical waste
and use the revenue to provide
integral rehabilitation therapies,
including physical therapy,
occupational therapy, compression
garments and psychological therapy,
for child burn survivors.

The Sustainability Network
members, in our Richmond,
Virginia office has formed along-lasting relationship with alocal river cleanup organization,
the James River Association.
Our employees participated inseveral river cleanups during
the year to help weed, pick-up
litter and remove invasiveplants along the banks of
Virginia’s largest river.

Sustainability Report 2024

OVERVIEWABOUT USIn celebration of Earth Day
and Arbor Day, employees
in our Pittsburgh officevolunteered with Tree
Pittsburgh and otherorganizations. During
this day they supported
a multi-phase ecologicalrestoration project in
one of Pittsburgh’s largest
green spaces.

TA R GETS & GOA L S

Members of our Mexico office held
their first volunteer activity day
in Xochimilco. Activities included
planting local trees to help strengthen
the banks of the chinampas andeducation around the importanceof Mexican amphibians.

A B OUT U SNORTH AMERICASUSTAIN AB IL ITY TREN D SLATIN AMERICA AND CARIBBEAN

20

OVERVIEW

MATERIAL TOPICSDATAThe ERM Foundation

SUSTAIN AB IL ITY TREN D S

Since 1995, the ERM Foundation has enabled ERM andour employees to support nonprofit organizations andsocial enterprises that share our commitment to creating
a more sustainable and equitable world. Working acrossthe globe, we blend grant funding, professional pro bono
support and volunteering to create a lasting impact andmeasurable contribution to towards the UN Sustainable
Development Goals (SDGs). Support is provided forboth established and pilot projects where we can bestleverage our technical expertise.

A B OUT U S

The ERM Foundation focuses on projects and programs
at the intersection of climate, nature and human rights,
supporting projects such as biodiversity protection,
climate action, investing in women's livelihoods andimproving access to clean water and sanitation.

TA R GETS & GOA L S

Learn more in the ERM Foundation Annual Review

Sustainability Report 2024

OVERVIEWABOUT US21

Supporting the Sustainable Development Goals

OVERVIEW

MATERIAL TOPICSDATAThe United Nations adopted the SDGs in September 2015, with the objective of ending
poverty, fighting inequality and injustice, and tackling climate change by 2030.
Reaching these goals will require unprecedented effort by governments, civil society
and businesses and we remain committed to doing our part.
ERM supports the SDGs in the following ways:• In our operations. ERM strives to operate sustainably in support of the SDGs
through our sustainability operational programs.

We contribute to the Sustainable Development Goals in three ways

In our own
operations ​Through our workwith clients​

Collaboration
with other leadingorganizationsA B OUT U S• In collaboration with others. Through our partnerships with leading organizations,
we are committed to making a meaningful contribution to the SDGs. ERM also
provides thought leadership through the ERM Sustainability Institute and actively
participates in panels, workshops and webinars across the globe, sharing our own
experience of contributing to the SDGs. Our technical experts also support industry,scientific and academic bodies who are committed to the delivery of the SDGs.

SUSTAIN AB IL ITY TREN D S• Through our work for clients. We use the SDGs to help our clients develop andimplement their own operational strategies for contributing to sustainable
development.

TA R GETS & GOA L S• The ERM Foundation. The work of the ERM Foundation seeks to make a measurable
contribution to the SDGs, and we have identified 12 intersecting SDGs where theFoundation can have the greatest impact.

Learn more about ERM's impact in Supporting the SDGs

Sustainability Report 2024

OVERVIEWABOUT US22

OVERVIEW

MATERIAL TOPICS

DATA

Targets & goals
Each year we set companywide targets for each of our material
topics identified through our double materiality assessment
process. These targets are embedded into our operational planning,with performance actively monitored and reported to seniorleadership through the course of the year.

Performance against targets
Progress towards longer-term goals

24
26

Photo credit John Cima, United States

Sustainability Report 2024

OVERVIEWTARGETS & GOALS

23

Performance against targets
Consistent with our commitment
to report openly and transparently
to our stakeholders.

Target achieved

DATA

Performance against FY24 targets

DIGITAL INNOVATIONPEOPLEFY24 target
Achieve year-on-year
improvement in learning
effectiveness.

Performance
ACHIEVED
Learning effectiveness program
delivered with measurable
improvements in effectivenessof training reported.

Achieve global
diversity, equity, inclusion
and belonging (DEIB)
annual targets.

ACHIEVED

Maintain net engagementscore above industry
average.

NOT ACHIEVED

Achieve workforce growthand strengthen community
within ERM to meet clientneeds and enhance oursocial impact.

NOT ACHIEVED

Five global DEIB targets
successfully delivered.

FY24 target

Performance

Achieve annual targets
for digital enablement ofcore service offerings.

ACHIEVEDNo reportable breaches
of privacy regulations.

NOT ACHIEVED

Targets for digital
enablement of core service
offerings exceeded.

ERM reported a breach to theUnited Kingdom Information
Commissioners Officein July 2023.

AB OUT US

Key

MATERIAL TOPICSSUSTAINAB IL ITY TREN D S

The following pages summarize ERM's performanceagainst our FY24 targets. ERM has a Sustainability
Linked Loan as part of the amendment to its debt
facility, which we report on annually. The loan
is aligned to performance against our annual
sustainability targets, which are established on
the basis of the topics assessed to be material
to our overall business performance.

OVERVIEW

Target not achieved

OVERVIEWTARGETS & GOALSTAR GE T S & GO A L S

Sustainability Report 2024

Overall engagement score
fluctuated during the year but
ended below our target and theindustry average.

Reviewing our resource
needs we pivoted away fromrecruitment and focusedon retention and skills
development in our
exisiting employee base.

24

OVERVIEW

MATERIAL TOPICS

DATA

Performance against FY24 targets, continued

CLIMATE, NATURE & SOCIAL CHALLENGES
FY24 target

Performance
ACHIEVED
Client demand to support
their transition to a lowcarbon economy seescontinued growth insales for ERM.

Finalize and implement
ERM's updated
decarbonization, nature,social and supplierengagement programs.

ACHIEVED

We updated our SBTi targets
which have been validated by
SBTi to align with the NetZero Standard and we remain
on track to meet these.

Our updated Climate,
Nature, Human Rights andSustainable Supply Chain
strategies have been
published alongside
this report.

OVERVIEWTARGETS & GOALS

Contribute 1% ofprior year profits to
support sustainability
initiatives globally.

ACHIEVED

Publish initial
Impact Report.

ACHIEVED

More than 1% of prior year
profits contributed.

Impact data isincorporated within thisreport in preparation for
CSRD reporting.

FY24 target

Performance

Formalize quarterly
reporting of
ESG/Sustainability
metrics to the Board.

ACHIEVED

100% of eligible fulltime employees complete
Contribution Statements.

ACHIEVED

Implement
refreshed enterprise risk
management approach.

ACHIEVED

Quarterly reporting of
ESG performance to Board,
formalized and operational.

100% of all permanent
employees received acontribution statement
which was completed aspart of their annual
performance review.

TAR GE T S & GO A L S

ACHIEVED

Performance

AB OUT US

Remain on track tomeet SBTi targets.

Sustainability Report 2024

FY24 target

GOVERNANCE & ACCOUNTABILITYSUSTAINAB IL ITY TREN D S

Increase sales supporting
the low-carbon economy
transition by 20%
over FY23.

IMPACT & INFLUENCE

Our updated enterprise risk
management register was
implemented, alongsideenhanced risk management
protocols including enhanced
due diligence procedures.

25

Progress towards longer-term goals

OVERVIEW

MATERIAL TOPICS

DATA

Performance

Based on our
FY22 materiality

Material topic

Longer-term goal

PeopleAchieve workforce growth to meet client needs.

Maintain net engagement score about industry average.

launched a set of

Achieve year-on-year improvement in ERM's total wellbeing metrics.

FY26. These
are reviewed
annually andif they are no

Digitalinnovation

Deliver roadmap for digital enablement of core service offerings.

Climate,nature& social
challenges

40% of total revenue from projects supporting the low-carbon economy transition.

No reportable breaches of privacy regulations.

Remain on track to deliver SBTi targets (Scope 1, 2 and 3).
Implement a roadmap for nature-positive action.
100% of ERM's offset projects have demonstrated livelihood benefits.

Impact &influence

Outperform industry benchmarks for thought leadership.
Quantify and report on sustainability impacts across all elements of ERM's business.

longer relevantContribute 1% of prior year profits to support sustainability initiatives globally,
with a minimum of 0.5% to ERM Foundation grants.

or due to data
source changes.

TAR GE T S & GO A L S

modified only

Achieve DEIB goals.

AB OUT US

multi-year goals

SUSTAINAB IL ITY TREN D S

longer-term goals
by the end ofYear 2 (FY24)

Achieve year-on-year improvement in learning effectiveness.

assessment, weto be achievedYear 1 (FY23)

Governance &accountability

Key

Increase transparency of Board ESG metrics.
Integrate ESG criteria into performance management system for all line managers.
Assess all clients and projects in alignment with ERM's purpose.

On track

Maintain leadership position for sustainability and ESG reporting requirements
in all jurisdictions in which we operate.

Not on track
Sustainability Report 2024

OVERVIEWTARGETS & GOALS

26

OVERVIEW

MATERIAL TOPICS

DATA

Photo credit: Silvia Marques, United Kingdom

Material topics

Sustainability Report 2024

This section sets out the approach and outcomes of our double
materiality assessment, alongside our evolving methodology
for measuring and managing our impact. Subsequent sections
focus on each of our key material issues, setting out why
we consider each issue to be material, our governance andstrategic objectives, our impacts during FY24 and ourpriorities for FY25.

MATERIAL TOPICS

Materiality & impact
28
Governance41
People61
Human Rights
83
Climate93
Nature109
Supply Chain
129
27

OVERVIEW

MATERIAL TOPICS

DATA

Materiality & impact
As new disclosure regulations and standards have emerged,
ERM has updated our approach to assessing and reporting ourmaterial topics and impact.

Our double materiality assessmentOur impact

29
34

Photo credit: Silvia Marques, United Kingdom

Sustainability Report 2024

MATERIAL TOPICS

MATERIALITY & IMPACT28

MATERIALITY & IMPACTOVERVIEW

Our double materiality assessment

DATA

Financial materiality

M AT E RI A L I T Y & IM PACT

For many years, ERM has conducted our double materiality

MATERIAL TOPICS

assessment in line with the Global Reporting Initiative (GRI)
and most recently in accordance with the revised Universal

Sustainability issues impacting on the company

Standards. This year, we have built upon our approach to
Sustainability Reporting Directive (CSRD) and European

Negative
impacts

Risks

Opportunities

P EO P L E

Sustainability Reporting Standards (ESRS), which will

Positive
impacts

G OVERN ANCE

also be consistent with the requirements of the Corporate

apply to ERM in FY26.

CLI M AT E
NAT UR E

The outputs of this process inform our business strategy, management planningincluding our approach to operationalizing sustainability, the identification of
relevant key performance indicators/metrics that support our ability to mitigate
against material impacts arising from identified topics, as well as strengthen our
positioning as a credible leader in sustainability advisory services.

H UMAN R I GH T S

Our annual double materiality assessment process supports the business in
identifying material risks, opportunities and impacts through detailed analysis ofsocietal, market and regulatory horizon scanning, stakeholder engagement and the
input of our subject-matter experts, clients and operational leaders.

SUP P LY CHAI N

Company impacts​on society& the environment

Impact materiality
Sustainability Report 2024

MATERIAL TOPICS

MATERIALITY & IMPACT

29

MATERIALITY & IMPACTOVERVIEW

Dual consideration of impact

MATERIALITY & IMPACT• Finding Harmony: Using New Sustainability
Disclosure Standards to Strike the Right Balance on
ESG, covers the roadblocks to action and disclosure
as well as how standards can bolster the credibilityof ESG initiatives.

SUP P LY CHAI N

MATERIAL TOPICS• Implementing the CSRD: Preparing for a New Eraof ESG Disclosure, covers the major components of
the CSRD and provides guidance to companies on
how to successfully align with its requirements.

NAT UR E

Sustainability Report 2024

ERM employees from our Mexico City and Lima
Offices supported Gentera in evolving their approachto undertake their first double materiality assessment,
demonstrating leadership within the sector.

CLI M AT E

Two timeframes are considered when assessing risks,
opportunities and impacts: the immediate-short term
(2024-2026) and future state (2030 and beyond). A
greater level of surety exists around the immediateshort term timeframe, with analysis of potential
impacts in the longer-term being based on horizon
scanning of potential regulatory and policy trends,
anticipated market and client demand, societal trends
and the potential evolution and adaptation to risks
such as climate change.

Gentera recognized that it is essential to integratesustainability into their risk management, strategy,
and operations, to strengthen their resilience toclimate-related risks among other factors.

H UMAN R I GH T S

Assessment timeframes• ISSB's first act, highlights the components of ISSB's
much-awaited inaugural standards and covers how
the standard brings more clarity and consolidation
to the sustainability disclosure field.

Gentera is a group of companies committed toeradicating financial exclusion. It is a gateway to thefinancial system for over 14 million people, 5 millionof whom are based in Mexico and Peru.

P EO P L E

Our assessment considers sustainability-related risks,
opportunities and impacts across our value chain. Our
value chain encompasses our people, offices, investors
and supply chain as downstream components, our services
and products delivered to clients and upstream, ourpartners and those who we collaborate with, as set
out in the About us section of this report.

• Unsung cornerstone of ESG disclosures: the Evolving
Role of EU Taxonomy Reporting, analyzes the current
patterns of taxonomy eligibility and alignment
figures disclosed by nonfinancial entities andreflects on possible underlying drivers.

Supporting Gentera’s Double Materiality
Assessment Process

G OVERN ANCE

Scope

• ISSB's IFRS S1/S2: Laying the foundation for global
mandatory disclosures, explores the essential
components of the IFRS S1/S2 standards.

DATA

M AT E RI A L I T Y & IM PACT

Through our annual double materiality assessment
process, we consider external factors or issues which
may impact our own business (financial materiality)
but also how our business impacts wider society andthe environment (impact materiality). Our assessment
considers stakeholder priorities of what is importantor material for us a business to address. This dual
consideration better positions the business to manage
our material topics and meet the expectations of
our stakeholders.

ERM is supporting clients across the globe evolve theirconsideration of materiality and has also publishedthought leadership on this throughout FY24. Examplesof this include:

MATERIAL TOPICS

Photo credit: Diego Fernandes, Brazil

30

MATERIALITY & IMPACTOVERVIEW

Staged approach

MATERIALITY & IMPACT

Cross reference benchmarking results
against ESRS topics.

6. Stage six. The outcomes of the double materiality
assessment process were presented to the Executive
Committee Sustainability Working Group and otherleaders on behalf of the Executive Committee forapproval. They were also presented to the Board
level Risk and Sustainability Steering Group.

4. Stakeholder engagement

7. Stage seven. Quarterly reports on progressagainst targets will be presented to the Executive
Committee and Board and reported in our annual
Sustainability Report.

3. Impact assessment framework
Understand risks, opportunities,
positive and negative impacts.

Validate and rank suggested rangeof material topics.
5. Analysis
Review feedback to confirm list of
material topics, and inform process
on targets and KPIs.
6. Validation
Present results to ExCom.

SUP P LY CHAI N

MATERIAL TOPICS

5. Stage five. Qualitative and quantitative feedback
from stakeholder interviews was used to review
the shortlist identified from our impact assessment
framework. Based on the combined analysis, a final
shortlist of material topics was produced. Targets
and KPIs were then identified to be able to track
our future performance and progress.

NAT UR E

Sustainability Report 2024

2. Consolidation

CLI M AT E

4. Stage four. Interviews were conducted withstakeholders to gather feedback on our short-listed
material topics. Stakeholders were asked to rank thematerial topics (low, medium, high) on the basis of
their perceived impact to our business in theimmediate and longer term. This year, internal

Analyze regulatory landscape,peer companies and trends reviews.

H UMAN R I GH T S

3. Stage three. The risks and opportunities undereach topic were assessed in terms of: point of impact
in our value chain; whether the impact is actualor potential; geographical scope; temporal scope;probability of being realized; mitigation and thecost thereof; and the residual impact after mitigation.
The outcome of the assessment was a short-list of
topics which are considered to present the mostsignificant risks or opportunities, the impact ofthat would be material to the business.

1. Benchmarking

P EO P L E

2. Stage two. Adopting the full list of topics set out in
ESRS as the framework for consideration, a long listof potential risks and opportunities was identified
for detailed assessment.

Our materiality approach

G OVERN ANCE

1. Stage one. A detailed benchmark analysis included
input from our enterprise risk management register,
previous materiality assessments, regulatory andmarket horizon scanning, trends and peer review,and consideration of the membership criteria of
our partner organizations.

DATA

M AT E RI A L I T Y & IM PACT

To optimize the rigor of our approach, our double
materiality assessment comprises seven key stages.

stakeholders interviewed included members of
the Board and Executive Committee, our subjectmatter experts and a range of employees fromacross our global operations. External stakeholders
interviewed included a range of clients, investors,
strategic partners, and nongovernmentalorganization representatives.

MATERIAL TOPICS

7. Tracking and reporting
Monitor and report progress oneach material topic.

31

MATERIALITY & IMPACTOVERVIEW

MATERIAL TOPICS

DATA

Outcome of the assessment
M AT E RI A L I T Y & IM PACT

Based on analysis from our double materiality
assessment process, we identified six key material topics
for our business, these comprising:• Governance: Including business conduct, leadershipand accountability, risk management and digital ethics.

G OVERN ANCE

• People: Including talent development, diversity,
equity, inclusion and belonging, health and safety
and wellbeing.

P EO P L E• Human rights: The respect and promotion ofhuman rights, including addressing the risk ofmodern slavery.

H UMAN R I GH T S• Climate: Addressing climate-related risks andopportunities, including our transition to net-zero.
• Nature: Focusing on the management of naturerelated risks and opportunities.

CLI M AT E

• Supply chain: Addressing the operation andsustainability performance of our suppliers.

NAT UR E

Our list of material topics is consistent with thosepreviously included in our Sustainability Report 2023
but reflects the terminology and presentation of topics
set out in the ESRS. As per previous years, based on thereview and approval of functional leads, the Executive
Committee and the Board, we have established targets
to support the management of our material topics
during the course of FY25 and in fullfilment of ourlonger-term FY26 goals.

SUP P LY CHAI N

Photo credit: Nico Vermylen, Belgium

Sustainability Report 2024

MATERIAL TOPICS

MATERIALITY & IMPACT32

MATERIALITY & IMPACT
FY24 Material topic*

OVERVIEWFY25 Material topic

Aligned to ESRS

MATERIAL TOPICSDATA

FY25 target

Governance &accountability

Governance

ESRS G1• Undertake 3 ESG risk country-level due diligence assessments

ESRS S2ESRS S3• Achieve 100% of Key Accounts assessed against ERM's sustainably transparent assessment of risk andreward (STARR) process

ESRS S4• Develop 3 additional societal impact measures and hold impact conversations with 100% of Key Accounts

G OVERN ANCE

• Achieve no reportable breaches of data privacy• Implement ‘Security to Thrive’ Program• Increase participation in ERG groups by 10% from FY24

ESRS S2• Achieve combined voluntary and involuntary turnover rates below FY24

ESRS S3• Improve talent brand as measured by brand awareness metrics

P EO P L E

PeoplePeopleESRS S1• Increase representation of women and minorities at Partner and Director levels from FY24

ESRS E2• Engage top tier of suppliers on decarbonization

ESRS E2• Publish Taskforce for Nature-related Financial Disclosure report

ESRS E3• Engage top tier of suppliers on nature

CLI M AT E

Nature• Remain on track to meet SBTi targets for Scope 1, 2 and 3

H UMAN R I GH T S

ClimateESRS E1ESRS E4• Ensure no unpaid workers, no material and unpremeditated pay equity issues

ESRS S2• Engage top tier spend of suppliers on human rights

ESRS S3

SUP P LY CHAI N

Human rights

ESRS S1NAT UR E

Climate, nature& social challenges

ESRS S4
Supply chain

ESRS S2• Expand sustainable supply chain governance program across top tier spend of suppliers*Digital innovation and Impact and influence are no longer standalone material topics. From FY25, they are both part of Governance.

Sustainability Report 2024

MATERIAL TOPICS

MATERIALITY & IMPACTM AT E RI A L I T Y & IM PACT

• Deliver quarterly reporting of Sustainability metrics to the Board ESG Risk and Sustainability Committee

33

MATERIALITY & IMPACTOVERVIEW

Our impact

We seek to measure and manage these impacts through three points of our value chain:• Our operations: We create and manage our impact through the footprint of ouroffice-based operations, our people and the delivery of our services to our clients.

P EO P L E• Our collaborations: We also create and seek to maximize the impact we cangenerate through our partnerships and collaborations with leading organizations.

“Every day, our teams deliver on our
purpose through working with ourclients to address sustainable businesschallenges. We also partner with leadingorganizations to drive change while
ensuring we enhance our own
operational performance”

G OVERN ANCE

• Our client work: We create the greatest impact through partnering with our clientsto support them in enhancing their own sustainability performance and in turn,their impact on environment and society.

DATA

M AT E RI A L I T Y & IM PACTOur material topics represent the key issues which we have assessed will give rise to
the most significant impacts for our business.

MATERIAL TOPICS

H UMAN R I GH T S

Linden Edgell, Global Sustainability Director, ERM

CLI M AT E
NAT UR E

Sustainability Report 2024

Operations& Supply chain
Leading by example

MATERIAL TOPICS

MATERIALITY & IMPACT

Clients​
What ignites
and unites us

Collaboration
Accelerating
pace and scale

Impact onsociety and theenvironment

SUP P LY CHAI N

Impact mindset
In all that we do

34

MATERIALITY & IMPACTOVERVIEW

MATERIAL TOPICSDATA

The impact of our operations
M AT E RI A L I T Y & IM PACTFor each of our key material issues, operational programs exist to ensure wehave robust governance, clear strategic objectives, performance management andreporting. These programs serve to ensure our business operates in accordancewith our commitments, goals and values, and delivers meaningful impact.

Impact dialogues

G OVERN ANCEThe content of each program is informed by our subject-matter experts, who bring
their technical knowledge and understanding of evolving regulatory, policy and bestpractice to shape our own strategic objectives and approach.
HIGHLIGHT

P EO P L E

For a number of years, ERM has focused on supporting our clients in the transition
to a lower-carbon economy and tracked our progress on these efforts. In FY24, weconvened a global Impact Dialogue with the topic ‘how ERM can make the biggest
impact on the transition to a lower-carbon economy’.

H UMAN R I GH T S
CLI M AT E

All employees were invited to attend the sessions to express their views, and tohear the technical and personal perspectives of colleagues from around the world.
There was active engagement from participants with the presentation of passionate,robust and informed views. This feedback has been incorporated into our approachto assessing project and client selection, and planning for our own transition.

NAT UR E
SUP P LY CHAI N

Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICS

MATERIALITY & IMPACT35

MATERIALITY & IMPACTOVERVIEW

Photo credit: ERM

Client engagement & satisfaction

The impact of our client work

MATERIAL TOPICS

MATERIALITY & IMPACT

SUP P LY CHAI N

Sustainability Report 2024

NAT UR E

This included allocating every project to one or more
impact areas using a combination of subject matter
expertise and machine learning and we will continue
to refine this process in the coming year.

Senior staff members, such as account directors,
industry leaders, service leaders and operational leaders,
actively participate in the feedback process to exchange
insights, offer support and address client needs. Whennecessary, client issues are escalated within theLed by the Clients and Industries team, the ERM
way of Client Excellence (CE) has been establishedto strengthen collaboration with our clients andsupport their commercial and sustainability agendas.
Our account leaders drive implementation andcreate a “ripple effect” of the ERM way of Client
Excellence globally. We are seeing Key Client teams
supporting our client largest ambitions, expanding
and leveraging strong client relationships, and better
understanding our clients’ challenges, needs, andhow we can create sustainable value together.

CLI M AT E

During FY24, we continued work on a replicable, robust
and credible process to aggregate the impacts of ourportfolio of projects for select clients.

We are building a range of metrics to capture thesocietal impact of ERM’s work with clients. We firstpiloted our approach to measuring impact on a growing
part of our business, the low carbon economy transitionand our contribution to the deployment of renewableenergy capacity. Last year, we introduced informationon the impact of our liability portfolio management
and remediation activities and this year we are adding
health and safety leadership and water resilience tothe portfolio of impact reporting. In the next year, weintend to add another three topics, and enhance theexisting portfolio of societal metrics.

H UMAN R I GH T S

Measuring client impact at account level

We use a global project and client management tool todocument, internally publicize and respond to client
feedback. Every ERM project has an identified accountdirector or account manager and a Partner in Charge
who are directly accountable and fully responsible for
ensuring we receive and take action on client feedback.

Measuring societal impact through our work with clientsP EO P L E

The greatest impact we have is through the 32,000
projects we worked on with our clients in the last year
across the business lifecycle and at all levels of theorganization. We have developed an Impact Methodology
Framework to quantify the impact of this work andare progressively applying this to the different client
offerings. This enables us to produce information thatcan support impact-focused conversations with clientsat an account level and also describe the societal impactof our offerings.

At ERM, meeting or surpassing client expectations
is a fundamental principle. This involves attentive
listening to our clients, at the appropriate frequency
and with the right individuals involved. These
conversations are critical in helping us to understand
how we are performing and how we can make an evengreater impact in addressing their key business andsocietal issues.

organization to determine if modifications to our quality
management system, governing procedures or training
requirements are required.

G OVERN ANCE

We engaged participating clients on the draft FY24
year-end impact report and have incorporated thisfeedback into our plans for the year ahead. Additional
clients and metrics will be included in the impact
measurement process over time in an iterative process.

DATA

M AT E RI A L I T Y & IM PACT

We piloted the results of this process with selected
key clients, focusing on the impact of ERM projects inhelping the client achieve specific business and societal
goals, for example, alignment to the Paris Agreement.

MATERIAL TOPICS

36

MATERIALITY & IMPACTOVERVIEW

Leveraging our impact through commercial partnerships

MATERIALITY & IMPACT

SUP P LY CHAI N

MATERIAL TOPICS• Workiva, a cloud-based platform for integrated
reporting, whom ERM has partnered with toprovide cloud-based technology solutions to collectand manage ESG data and disclosures in real time.

NAT UR E

Sustainability Report 2024

• Watershed, an enterprise climate platform, which
will help companies drive holistic, data-driven
climate governance, operational performance anddecarbonization programs.

CLI M AT E

• NatureTech Alliance, a partnership of Salesforce,
NatureMetrics, Planet and ERM supporting businesses
to understand the impact of their business onnature and report in line with new and impending
nature regulations and frameworks such as CSRD
and the Taskforce for Nature-related Financial
Disclosures (TNFD).

H UMAN R I GH T S• Greenomy, a provider of ESG reporting software,
which will enable organizations to meet escalating
reporting requirements and gain insights into their
ESG impacts.

• Sweep, a new software platform for carbon andsustainability data management, which will help
our clients to accelerate and scale their climate andsustainability programs.

Kushal Mashru, Head of Strategic Partnerships, ERM

P EO P L E• Google Cloud Partner Advantage Program,
ERM joined as a Service Partner to help our clients
accelerate their decarbonization journeys by
combining Google Cloud’s cloud infrastructure,
data analytics and leading artificial intelligencecapabilities with ERM’s sustainability services.

• Planet, a provider of global near-daily satellite
imagery and earth data, is partnering with ERM to
expand the applications and reporting capabilities
for our clients.

“At ERM, we are continuing
to expand our ecosystem ofpartners to cover every areaof the sustainability value
chain, to help our clients
meet their evolving goals.”G OVERN ANCE

We announced a number of collaborations during
FY24, including:• Persefoni, a climate accounting solutions software
company, whom ERM has formed a strategic alliancewith to help organizations accelerate their transition
to net-zero.

DATA

M AT E RI A L I T Y & IM PACT

We recognize that our impact can be amplified
through collaborating with others, includingcommercial partnerships. ERM collaborates withvarious organizations to develop innovative approaches
to sustainability challenges. Working with technology
companies, peers and policymakers and ERM clients,
we harness their technical expertise, market presence
and customer networks to build stronger capabilities
through partnerships than we could individually.

• Novata, an ESG data management platform,
is partnering with ERM to provide companies
with insights to enhance ESG decision-making,performance and reporting.

MATERIAL TOPICS

Photo credit: ERM

37

MATERIALITY & IMPACTOVERVIEWOur collaborations• The UN Global Compact (UNCG). ERM is a signatoryof the UN Global Compact and has collaborated
with UNGC entities to facilitate workshops, deliver
webinars on key topics and promote the 10 Principles.
ERM is a signatory of the Women’s Empowerment
Principles and the Sustainable Ocean Principles
as part of our commitment. Click here to read our
Communication on Progress.

• Business Commission to Tackle Inequality (BCTI)• World Environment Center (WEC). ERM engages
in a range of WEC forums including Group CEO
Tom Reichert who participated in an Executive
Roundtable on Decarbonizing Value Chains: Hardto-Abate Industries. Graham Lane has served as
Chair of WEC Europe Supervisory Board since 2020.

• The Climate Pledge• Business for Nature• The Campbell Institute• Circular Electronics Partnership• Clean Energy Buyers Alliance• Global Wind Energy Council• The Global Renewables Alliance• International Sustainability Standards Board (ISSB)• Natural Climate Solutions Alliance (NCSA)• Race to Zero

• The Taskforce for Nature-related Financial
Disclosures (TNFD)NAT UR E• The Global Reporting Initiative (GRI). As part of
ERM’s efforts to advance sustainability reporting, we
support the activities of GRI as a community member
and actively support efforts in a number of countries.

• The Taskforce for Climate-related Financial
Disclosures (TCFD)

SUP P LY CHAI N

MATERIALITY & IMPACT

CLI M AT E

• The Science Based Targets initiative (SBTi)• Science Based Targets for Nature (SBTN)

MATERIAL TOPICS

H UMAN R I GH T S• IETA• International Sustainability Standards Board (ISSB).
ERM is a Capacity Building Partner and has co-hosted
an event at COP28, webinars and a publication on theapplication of the ISSB Standards.

Sustainability Report 2024

P EO P L E• Ceres. ERM’s subject-matter experts have collaborated
on a number of reports and initiatives supporting
the transition to a cleaner, more just, andsustainable economy.

These are further examples of the organizations that
ERM have been actively engaged with in FY24:G OVERN ANCE

• Capitals Coalition. ERM sits on the Advisory Boardof the Coalition, contributes to technical and strategic
support and has collaborated on research andpublications. Doug MacNair, Technical Director,
serves as a Commissioner on the Value Commission.

DATA

M AT E RI A L I T Y & IM PACT

We maximize our impact on the world and deliver on
our purpose by developing meaningful partnerships
with the world’s leading organizations. ERM works
alongside leaders from industry, government,
nongovernmental organizations and academia to address
the complex sustainability challenges facing our clientsand society. Through partnership and collaboration
we generate greater impact. We are members of many
multistakeholder organizations, examples of which
are included throughout the report and noted below.

• The Principles for Responsible Investment (PRI).
ERM is a PRI signatory and collaborates on initiatives
in various locations.

MATERIAL TOPICS• World Business Council for Sustainable
Development (WBCSD)38OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERS

ERM is a founding member of WBCSD
and remains active across many work
involvement of the ERM Sustainability
Institute and engagement of ERM’s
We are an active member of WBCSD
including South Africa, Brazil, France,
India, China and Southeast Asia.

• We are a member of the Circular Electronics
Partnership and actively lead several programs.

• Chief People Officer Ellis Griffith is a member ofthe of the Chief People Officer Network.

• We are a member of the Education Program working
group, and supported the development of the
Sustainability in Business course.

• We seconded a Technical Director to the TNFD
pilot for the energy sector and a consultant to thedevelopment of the Nature Positive Roadmap. We
also developed the Nature-based Solutions Blueprint.

• ERM supported Deborah Maris, the Founder of Força
Meninas (Go Girls) an ERM Foundation Partner toparticipate in the LEAP Leadership program.

H UMAN R I GH T S

global network partners in locations• We are supporting WBCSD and the Hydrogen Council
in the development of an SDG Roadmap, with thefirst phase (Impact Compass) released at COP28.

P EO P L EGroup CEO and other senior leaders.

• Tom Reichert, ERM Group CEO, serves on the
Executive Commitee, is Chair of the Energy Pathway
Board and is Co-Leader on the nature workstream.

• We are working with the Forest Sector Group on
their Equity Roadmap.

G OVERN ANCE

programs through secondments, theWithin the broad scope of WBCSD’s work programs, we
focus on climate, nature, equity, corporate performanceand accountability, products and materials, forests,
food and agriculture and energy. Highlights fromFY24 include:DATA

M AT E RI A L I T Y & IM PACTWorld Business Council for
Sustainable Development

MATERIAL TOPICS• Since 2020, Technical Director Braulio Pikman
has been involved in the Greenhouse Gas Protocol
Land Sector and Removals Guidance. ERM has pilot
tested the guidance with clients in three sectors.

CLI M AT E

• An ERM team is supporting the development of
the Chemical Transformation Roadmap.

NAT UR E• Global Leader of Clients and Sectors James Stacey
is a Founding Member of the Senior Advisory Boardof the WBCSD Preparer Forum for Sustainability
Disclosure and we have experts involved in the workon Transition Plans, Preparer Forums and CapitalMarket Engagement.

SUP P LY CHAI N

Photo credit: ERM

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MATERIALITY & IMPACTOVERVIEW

MATERIAL TOPICS

DATA

Thought leadership

The Institute serves as an important conduit for sharing
the ideas and insights gleaned from our work withclients and our broader understanding of sustainability
issues. It provides practical and thought-provoking
insights using multiple channels, ranging from in-depth
research papers and global surveys to blogs, podcasts
and interviews. Examples of FY24 publications areincluded throughout this report and further informationon the Institute can be found at erm.com.

ERM Trends Quarterly
Outlook provides abrief update eachquarter on the most
relevant sustainabilityrelated topics businesses
are facing.

GlobeScan/
Sustainability Institute2023 Sustainability
Leaders Survey basedon responses from520 sustainability
professionals across
six sectors.

Rate the Raters 2023:
ESG Ratings at a
Crossroads, analysis
of survey responses
and insights into theongoing evolution of
the ESG ratings space.

H UMAN R I GH T SGlobeScan/Sustainability
Institute Pulse Survey:
Government Action,dives deeper into themost relevant findings
from the 2023 Leaders
Survey.

P EO P L E

ERM experts provide deep-dive reviews of issues facing
our clients on our corporate website and social media.
Our content is designed to respond to the needs ofour stakeholders by providing practical and thoughtprovoking insights using multiple channels, ranging
from in-depth research papers and policy alerts tovideos, blogs, articles and opinion pieces.

ERM Sustainability Institute

G OVERN ANCEERM Insights

M AT E RI A L I T Y & IM PACT

Thought leadership influences the sustainability debate
and challenges norms, which amplifies the positive
impact we can make. It is also an effective way to sharethe ideas and insights gleaned from our work withclients and our broader understanding of sustainability
issues. We use two primary mechanisms for sharing ourknowledge and insights with clients and the public: ERM
Insights and The ERM Sustainability Institute by ERM.

CLI M AT E

We publish content on a broad range of current
sustainability and ESG topics. During FY24, selected
articles included:• Rethinking mine closure to enhance shared value• Managing PFAS as a business enterprise risk

SUP P LY CHAI N• Partnering with communities in data center
development

NAT UR E• Policy strategies for the oil and gas sector to scale up
clean hydrogen

Photo credit: Benjamin Fargeas, France

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OVERVIEW

MATERIAL TOPICSDATA

GovernanceWhy this topic is material for ERM
Governance controls the functioning of our company, supports
the delivery of our purpose and our strategy and ensures checks
and balances across our operations. Good governance relies onstrong accountability structures throughout our strategic andoperational leadership, including clear performance metrics
and transparent reporting.
As with previous years, Governance remains a key material topic
in terms of the delivery of our own operations but also in respectof the contribution that our governance and leadership can maketo responsible business. Included within this topic is an overview
of our leadership structure and accountability, approach toenterprise risk management and digital governance.

Leadership42
Business conduct
48
Risk management
52
Digital governance
54
Stepping up our impact
59
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GOVERNANCEOVERVIEW

Leadershipis essential for ERM to meet our responsibilities and the
expectations of external investors, lenders, Partners, employees,
suppliers and contractors, clients, society and the environment.

The performance of the individual components of our sustainability program isincluded in bonus considerations of the respective members of our Board and ExCom
who have accountability for their delivery. This includes People, Health & Safety,
Digital amongst others.

NAT UR E
SU PP LY CH A I N

The Board ensures that systems and processes are in place for the succession,
evaluation and compensation (where applicable) of the Chief Executive Officer (CEO),and other Executive Directors, Non-Executive Directors, members of the Executive
Committee and other key members of senior management. The Board promotes
executive remuneration structures and policies, appropriately aligned to thelong-term sustainable success of the organization and the external market.
Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICS

GOVERNANCE

CL I MATE

The ERM Corporate Governance Principles and Board Terms of Reference set out
ERM’s business purpose, the role of the Board, its processes and its relationship to
executive management, and it explicitly recognizes that the Board has ultimate
responsibility for sustainability. The Board convenes seven times per year to review
performance and consider key strategic growth plans, material issues, risks andopportunities for the business.

Supporting the Board, is the Environmental, Social and Governance (ESG) Risk andSustainability Steering Group, which serves as an advisory group to the Board andworks with it to identify and manage risks relating to ERM’s reputation, strategy,reporting and disclosures. The performance of our overall sustainability programis included in bonus considerations for our Global Leader of Sustainability andRisk, who serves on the Board, ESG Risk and Sustainability Steering Group and the
Executive Committee.

HUMA N R I G H TS

The Board is currently made up of Executive Directors and Non-Executive Directors(who are directors nominated by our investors KKR and its co-investors). The
chairperson of the Board is Non-Executive Director Rami Bibi.

ERM uses delegated authority matrices to provide the framework for all decisionmaking and policies related to corporate governance. These include approval levels
for corporate governance and project contracts.

P EOP L E

The Board of Directors (Board) is the highest authority and has ultimate
responsibility for the strategic direction, governance and oversight of The ERM
International Group Limited (as parent company of the ERM Group) on behalf of our
stakeholders, including shareholders.

The size of the Board is appropriate to the scale and complexity of the ERM Group andis representative of the shareholder base. The Board comprises a mix of individuals
that ensures an appropriate range of sustainability knowledge, views and experience.
The Board promotes a diverse and inclusive culture within the organization andseeks to reflect that diversity within the membership of the Board itself. The Board
maintains plans for the succession of the directors.

GOV E RNA NCE

ERM’s Board of Directors

DATA

MATERIAL ITY & IMP ACT

As a privately held organization, good corporate governance

MATERIAL TOPICS

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GOVERNANCEOVERVIEW

MATERIAL TOPICSDATAGroup Sustainability Function

Day-to-day business is managed by ERM’s Executive Commitee (ExCom), comprisedof four of the five executive directors of the business and a number of other seniorPartners in executive management roles who lead geographic, service, sector andclient divisions of our operations, business development, people development andother professional support functions.

Operationalizing sustainability across the business is managed by the Group
Sustainability function, led by the Global Leader for Sustainability and Risk
and supported by the Sustainability Director and Head of Sustainability. Group
Sustainability works in conjunction with wider corporate functions and senior
management across our regions and business units, to deliver upon our sustainability
operational programs and commitments, as set out in the About us section ofthis report.

Executive
Committee

ExComWorking GroupHUMA N R I G H TS
CL I MATE
NAT UR E

The ExCom Sustainability Working Group is supported by ERM’s subject-matter
experts who support our sustainability governance through informing ourmateriality assessment, strategic direction, performance review and disclosures.
During FY24, ERM established a Taskforce on Climate-Related Financial Disclosures(TCFD) Working Group which comprised subject-matter experts and representationfrom our key operational teams including representatives of Risk, Sustainability,
Operations, Finance, Client and Services. For further information, please refer
to our Climate Supplement.

Board

ERM ESG Risk
& Sustainability
Steering GroupP EOP L E

Sustainability and specifically the governance of our material topics is embedded into
our operational planning and delivery, and is supported by the ExCom Sustainability
Working Group. The Working Group comprises representatives from the Board, ExComand our Global Sustainability Director. It advises on all aspects of operationalizing
sustainability across our value chain, including governance, strategy, programmatic
priorities, target setting and resourcing, and supports our positioning as a credible
leader in sustainability advisory services through our own operational performance.

GOV E RNA NCE

The ExCom has accountability for managing business operations and meetsregularly to discuss performance and ensure key strategic growth initiatives are
implemented effectively.

SU PP LY CH A I N

SMEWorking Groups

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GOVERNANCE

MATERIAL ITY & IMP ACT

ERM’s Executive Committee

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OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERS

Catching the wave
Sustainable Development (WBCSD)
and the ERM Sustainability InstituteWave: Seizing the Opportunities of
Sustainability Transformation,”for executives tasked with steering theirchange and unparalleled opportunity.

GOVERNANCE

44

SU PP LY CH A I N

MATERIAL TOPICS

NAT UR E

Sustainability Report 2024

Dominic Waughray
Executive Vice President, WBCSD

CL I MATE

Based on in-depth interviews with 50 senior global
business leaders and sustainability practitioners andactive engagements with 80 global business executives,
the report explores the multiple truths that companies
must navigate. For example, although the threat ofsocial and economic consequences merging into a
polycrisis is real and increasing, many technologicaland commercial solutions to these threats arecharging ahead exponentially. The report also
draws on the lessons of past transformations tooutline how bold action will define winners in thesustainability transformation.

HUMA N R I G H TS

companies through an era of profound

P EOP L E

providing experience-based guidance“At a time when the
global landscape is rapidly
evolving, businesses must
adapt to new realities orrisk being left behind, the“Catching the Wave” reportequips leaders with theinsights and strategies theyneed to not only survive
but thrive in the face of theunprecedented sustainability
transformation that istaking place throughout
the business community
and its value chains.”

GOV E RNA NCE

released a new report, “Catching the

DATA

MATERIAL ITY & IMP ACTThe World Business Council for

The framework introduced in the report reflects
insights on what is working for companies in the moreadvanced stages of integrating sustainability. Designed
as a practical guide for unlocking immediate action, it
sets out the steps companies can take now to translate
sustainability strategies into commercial success,operational efficiency and resilience.

MATERIAL TOPICSOVERVIEW

CASE STUDY: OUR OPERATIONSIn March 2024, ERM announced thesystem specialists The Big Middle
and The Big Zero, known for their
WalkMe technologies.

The Big Zero partners with companies in achieving
net-zero and broader ESG with confidence andefficiency. As specialists in Salesforce Net-Zero Cloud,it brings a unique blend of expertise, technology andexperience to organization's sustainability journey.
The Big Zero team combines strategic thinking
with data-driven design, leveraging the power of theSalesforce platform to provide clients with actionableinsights and robust monitoring to enable them toconfidently track progress and to meet their sustainability
goals in an objective and auditable manner.

SU PP LY CH A I N

GOVERNANCE

NAT UR E

MATERIAL TOPICS

CL I MATE

Sustainability Report 2024

HUMA N R I G H TS

The Big Middle delivers solutions and empowers
businesses to thrive in the digital age. As a dynamic
and innovative Salesforce, Oracle, and WalkMe practice,
it is dedicated to tailoring solutions that yield tangible
results for clients and brings a passion for helping
organizations revolutionize the way they leveragethese products.

P EOP L E

expertise in Salesforce, Oracle andCombined with ERM’s consultancy services and ourpartnership with Salesforce, The Big Zero’s expertisein ESG platforms will support clients in establishinga unified source of environmental data. The Big
Middle will continue as one of Australia’s leading
systems integrators of enterprise solutions, including
onboarding and training of customers in Australia
and New Zealand.

GOV E RNA NCE

acquisition of Australian enterpriseDATA

MATERIAL ITY & IMP ACT

ERM acquires Australianenterprise system integrators,
The Big Middle and The Big Zero

MATERIAL TOPICS

Photo credit: Patrick Ross, United States

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OVERVIEW

CASE STUDY: OUR OPERATIONSERM recently announced the
expansion of our Southeast Asia
strengthening our ability to advancethe green economy and sustainability
Economic Development Board (EDB),
sustainability impact with leadingorganizations in the region.

CL I MATE
NAT UR E
SU PP LY CH A I N

The decision to establish the SEA Hub in Singapore
is a testament to the city-state's position as a key
regional center with a vibrant ecosystem and demandfor innovative sustainability solutions. With astrong pipeline of projects and growing interest in
sustainability, the SEA Hub will serve as a focal point
for ERM's regional activities, enhancing our capacity
to deliver cutting-edge solutions and services toclients across Asia.

HUMA N R I G H TS

ERM's expansion will help deepen our

P EOP L E

across Asia. Supported by the Singapore“We welcome the expansion
of ERM’s regional hub
in Singapore, which will
Comprehensive training and mentoring programs
will nurture local talent and help to ensure a skilled
deepen our capabilities
workforce capable of driving sustainable developmentin the region.
in areas such as carbon
The Singapore expansion plans will enable ERM tomarkets,
thedeploymentofextend our extensive experience working with clients,from across the Asia Pacific region and globally, onhydrogenasanalternative
their decarbonization journeys. Our recent work inthis space includes helping a large industrial cluster
energysource
and
the
early
develop plans to transition manufacturing to renewable
power and green hydrogen and developing a strategy
decommissioningof
coal
for a large power company to close its fossil fuelgenerators and replace them with a mix of wind,plants.
We
lookforwardtosolar and battery storage.
partnering with ERM intheir next phase of growthand creation of new job
opportunities in the sector.”
ERM will be able to create up to 40 new roles,
building capacity and capability across a number ofsustainability imperatives, including; new energy,
integrated ESG due diligence, monitoring, reportingand verification and sustainable asset retirement.

GOV E RNA NCE(SEA) hub in Singapore, further

DATA

MATERIAL ITY & IMP ACTERM expands Singapore hub toaccelerate growth in the region

MATERIAL TOPICS

Lim Wey-Len
Executive Vice President, EDB
Photo credit: ERM

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OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERS

Sustainable bond framework
World Bank and the Inter-American
Development Bank partnered with
Sustainable Bond Framework, which
was published in September 2023.

HUMA N R I G H TS
CL I MATE
NAT UR E

Tatiana Assali
Partner, ERM

SU PP LY CH A I N

The framework supports the credibility andadditionality of Brazil’s sustainable bond issuances,
ensuring alignment with best market practices andmaximizing positive impact. It was developed inline with the guidelines of the International CapitalMarket Association Green Bond Principles, Social Bond
Principles and Sustainability Bond Guidelines. These
principles describe best practices for issuing debt
securities that serve social and environmental purposes
through global guidelines and recommendations that
promote transparency and disclosure, reinforcing the
integrity of capital markets.

P EOP L E

In November 2023 Brazil raised the first $2 billion
using the framework, winning 3 international awards
from Global Capital, Environmental Finance and the
Climate Bonds Initiative, paving the way for a second
issuance of another $2 billion in June 2024.

“This framework marks
a significant milestone,
highlighting Brazil's
pivotal role in the global
sustainable financelandscape and aligningwith the nation's potential
in sustainability andclimate change agenda.”

GOV E RNA NCE

ERM to develop Brazil's Sovereign

DATA

MATERIAL ITY & IMP ACTThe National Treasury of Brazil, theBrazil's federal budgets reflect policies andcommitments on climate change, a just transition to a
low-carbon economy, and social and economic equity,which can be driven by public and private investments.
It is in this context that Brazil’s Sovereign Sustainable
Bond Framework serves as a guide for issuances oflabeled sovereign bonds backed by budgetary expenses
that will directly contribute to advancing sustainable
development in Brazil.

MATERIAL TOPICS

Photo credit: Muhan Xu, China

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GOVERNANCEOVERVIEW

MATERIAL TOPICS

DATA

Business conduct
MATERIAL ITY & IMP ACTBusiness conduct and ethics is essential to the successand sustainability of ERM. We express this commitment
through our business values, professional standards,
employee training and our internal systems and practices.

GOV E RNA NCE

We conduct business with uncompromising honesty andintegrity, adhering to laws, regulations and our written
Code of Business Conduct and Ethics, and we expect

P EOP L E

everyone at ERM to act accordingly.

HUMA N R I G H TS

ERM’s Global Code of Conduct

CL I MATE

Our commitment to operating ethically and sustainably is set out in our written
Code of Business Conduct and Ethics, which reaffirms the importance of adhering to
the highest ethical standards in everything we do, everywhere. Our Code sets clear
requirements to ensure we conduct business with uncompromising honesty, integrity
and compliance with laws, regulations and international standards of businessconduct and ethics in all of our operations.

NAT UR E

Ethical behavior and our commitment to combat bribery and corruption isfundamental to our purpose, and we apply our business conduct and ethics
commitments across every ERM office and activity. All employees and Partners
are held responsible for compliance with our Code and policies.

SU PP LY CH A I N

As we explore new opportunities and ways to support sustainable transformation
around the world, we use our Code to help us navigate opportunities and implement
our strategy and sustainability goals.
Photo credit: Diego Aranguren, Colombia

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GOVERNANCEOVERVIEW

Training and awarenessPhoto credit: Belinda Ng, United Kingdom

MATERIAL TOPICS

GOVERNANCE• See Own Share: Beyond Hazard Recognition.
Certification
Every supervisor is required to complete a selfcertification on compliance with our global policies
regarding conflict of interest, manager duty and anti bribery and corruption policies.

Examples include:• ERM Code of Business Conduct and Ethics;• Anti-bribery and corruption;• Preventing workplace harassment;

SU PP LY CH A I N

Sustainability Report 2024

• International contracting: money laundering andtrade sanctions; andNAT UR E• Our screening and due diligence processes which
inform our consideration of risk, including trade
sanction, anti-money laundering, human rights
and environmental screenings.

• Driver acknowledgement;

CL I MATE• Our enterprise risk management system which
strategically considers potential risks to the ethicaloperation of our business, including geo-political,
client, partnerships and project risks.

• Hazardous materials and dangerous goods awareness;

HUMA N R I G H TS

• Our wider suite of corporate policies and procedures
which guide the operation of our business policies
and procedures in accordance with our Business
Code of Conduct.

On a global basis, ERM requires all new employees toundertake a mandatory curriculum of training as partof their induction within 90 days of start date.

We assign additional training to meet ERM’s regulatory,
safety and compliance requirements based on each
employee’s role or the location in which they are
working, for example:

P EOP L E

We place a focus on ethical and responsible decisionmaking, from the Board to our Partners and all
employees. Our governance of ethical business conduct
also includes:

From the Board to our Partners and all employees, ourtraining provides the guardrails for making ethicaldecisions and raises awareness of relevant regulatory
requirements and best practice in the professional
services industry.

• Data protection and privacy.

GOV E RNA NCE• Participation in building external standards andproviding education so that momentum not only
builds in our sphere of business influence but
beyond, fully aligned with our purpose.

DATA• Building an inclusive culture;• Human trafficking and modern slavery;• Key health and safety policies and processes;• Cybersecurity; andMATERIAL ITY & IMP ACT• Our supply chain management which requires
all suppliers to adhere to our policies and codes ofconduct and we continue to expand and improve
supply chain management in the many jurisdictions
where we operate.

MATERIAL TOPICS

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GOVERNANCEOVERVIEW

Grievance mechanisms

Clients
Clients can report concerns through ERM’s client
feedback program. The approach uses a global projectand client management tool, based on our customer
relationship management platform, to document,internally publicize and respond to client feedback.
Every project has an identified PiC who are directly
accountable and fully responsible for ensuring client
feedback is received and actioned. Where warranted,
client concerns are elevated within the organization
to assess whether changes are needed within our
quality management system, governing proceduresor training requirements.

NAT UR E
SU PP LY CH A I N

ERM has a 24/7 online or call-in option for any employee
who wishes to report concerns anonymously through theMembers of the public (both individuals andcommunities) can communicate their concerns or ask
questions by emailing businessconduct@erm.com.

CL I MATE

Employees

The public

HUMA N R I G H TS

For more information, see the section on grievancemechanisms and remedying adverse impacts in ERM’s
Human Rights Strategy, our Modern Slavery Statement
and our Communication of Progress, which includes
details of our reporting on Principle 10, Anti-Corruption.

Our suppliers are required to adhere and operatein accordance with our Business Code of Conduct.
Employees of our suppliers can raise concerns via theirown internal organization grievance mechanisms or
through ERM’s Helpline. Further information on our
supply chain governance is set out in the Supply chain
section of this report.

P EOP L E

Remedy may include but is not limited to further
mitigation measures integrated into project delivery,
professional support for any affected individual andrecourse to law enforcement agencies where required.
We will implement further remedial measures asappropriate on a case by case basis.

Suppliers

GOV E RNA NCE

ERM is committed to investigating, addressing andremedying where possible and appropriate. We willaddress any issues promptly but do not put time limitsof the duration of time we will take to ensure thoroughinvestigation and identification of appropriate response
and remedy. Engagement will be maintained throughout
the course of this time.

Employees can also raise concerns related to thedelivery of projects through our Project Management
model which ensures that all ERM work is led by aPartner in Charge (PiC) with the support of a ProjectManager (PM). It is the responsibility of the PiC and PM
to ensure that all projects are conducted in accordancewith ERM’s policies and processes, and pursuant to
ERM’s purpose of being a sustainability leader. Should
the project team have any concerns about the current
or future direction of the project, they are required
to report these to the client relationship manager,
Business Unit and Legal Counsel, as appropriate.

DATA

MATERIAL ITY & IMP ACT

We have grievance mechanisms in place for employees,
suppliers and subcontractors, clients and the public,
and publish information on how to access our grievancemechanisms through our Code of Business Conduct andEthics and on erm.com. Information on our grievancemechanisms is also set out in our Human Rights Strategy.

ERM Helpline. The Helpline is a third-party independently
administered system, with over 30 different language
options, accessible to all employees. Additionally, we
have internal resources directly available.

MATERIAL TOPICS

Photo credit: Thien Nguyen, Vietnam

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CASE STUDY: OUR OPERATIONS

Speak upan ethical atmosphere and positively
influence the conduct of others. If any
our policies or Code has occurred or
may occur, they have the responsibility
the many channels available. This is
every person at ERM should conduct
themselves in accordance with this

• Chief Compliance Officer• Legal Department• Group Tax and Treasury Department• Group Finance
If an employee does not want to disclose their identity,
concerns can be raised anonymously either by phone
or web portal using the ERM Helpline.
We are committed to investigating all issues raised andaddressing potential violations of our Code.

CL I MATE

Code of Conduct, without exception.

• Health and Safety

HUMA N R I G H TS

true regardless of who is involved –• Human Resources

P EOP L E

to speak up about it through one of

The first point of contact for any questions about theCode or concerns about someone’s workplace conduct
is the employee's line manager. If an employee is not
comfortable doing this, they should consult with themany ERM resources available to them.

GOV E RNA NCE

person at ERM suspects a violation of

DATA

MATERIAL ITY & IMP ACT

Every employee's conduct can reinforce

MATERIAL TOPICS

NAT UR E

We also have established grievance mechanisms inplace for suppliers and subcontractors, clients and the
public, who have issues or concerns with regard to the
conduct of any of our employees. Information on thisis published on erm.com and issues can be emailed
directly to businessconduct@erm.com.

SU PP LY CH A I N

Photo credit: ERM

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Risk management
and opportunities for the business and how these should
be managed. Our approach focuses on identifying risks

DATA

Strategic risks and opportunities are identified through a multi-faceted approach
involving ongoing market, regulatory and horizon scanning, engagement with clients
and wider stakeholders, the input of our subject-matter experts and senior operational
leaders across the globe. This is led by our Group Risk function and supported by ourannual double materality assessment.

incorporating a unified risk language, intelligent risk

Due diligence of commercial opportunities

processes and systems, and a balanced perspective

MATERIAL TOPICS

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SU PP LY CH A I N

Sustainability Report 2024

NAT UR E

Photo credit: Lucca Kallenberger, Switzerland

CL I MATE

Based on an assessment of available information and discussions with relevant
stakeholders, as facilitated by the Regional Risk Director, a preliminary “go/no go”
decision will be made. For opportunities that receive preliminary approval to advance,
commercial and project evaluation and a project risk review process continue
throughout the project.

HUMA N R I G H TS

New project opportunities are automatically screened for potential sustainability risks
and aligned to our material business issues including governance, people management,
human rights, nature and climate. Our sustainably transparent assessment of risk andreward (STARR) process is a first step prior to evaluating opportunities that have been
triggered and applies to all new clients and project opportunities.

P EOP L E

of potential gains and losses.

ERM commits to advancing and expanding our relationships with clients who are
actively seeking a more sustainable future and on projects that support this vision.
Prospective clients are screened for alignment to our purpose, values and commitments.
This includes review of client sustainability and governance and performance, which
includes Board level accountability, bolstered by explicit pledges, well-defined
strategies and allocated funding. However, this approach does not compromise ourcapacity to "meet clients where they are," recognizing the varied capabilities,
resources and levels of ambition. For clients at varying stages of sustainability
maturity, our focus remains on supporting clients to improve performance.

GOV E RNA NCE

and opportunities aligned to our core values and beliefs,

Material risks and opportunities are managed through our live risk register which isreviewed by our ExCom and Board and is used to inform our overall business strategy
and operational planning, including our approach to operationalizing sustainability.

MATERIAL ITY & IMP ACTInforming our governance, is our consideration of key risks

MATERIAL TOPICS

GOVERNANCEOVERVIEW

Operational risk process

WBCSD engaged ERM to facilitate workshops for its member companies to introduce
a framework for integrating ESG risks into the broader corporate risk context.
We facilitated the discussions across more than 30 multidisciplinary client teams– representing corporate strategy, finance, operations, supply chain and beyond.
During the workshops, we led participants through a rigorous review of theframework and its practical applications.
ERM expertise made us well suited to support this initiative, having worked withorganizations across multiple sectors to:

P EOP L E

We continue to learn more about project-related risks based on direct feedback fromour delivery teams, and incorporate this learning into the corresponding risk tools.

HIGHLIGHT

GOV E RNA NCE

ERM has in place a Global Project Risk Review Policy to strengthen project risk
management throughout the life cycle of significant projects. This Policy applies
where a project has a material impact on the business through the undertaking of thecommissioned work and incorporates oversight from senior leadership throughout
project delivery, as well as appropriate additional risk mitigation measures.

DATA• Improve and optimize their internal risk processes and incorporate the benefitsof integrating ESG;HUMA N R I G H TS

• Clarify and convey information essential for decision-making regarding risks
and growth prospects; and• Strengthen the investment case for inclusive and sustainable business practices.

CL I MATE

Key areas of risk & opportunity

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SU PP LY CH A I N

Photo credit: ERM

NAT UR E

Our risk management process including our double materiality assessment, considers
those issues that present most significant risks and opportunities to us a business, in
our own determination and that of our stakeholders, and through which we generate
impact. Where we generate impact, we require governance to ensure that we reduce
negative outcomes and maximize positive impacts in line with the expectations of our
stakeholders and ourselves. Further information on our double materiality assessment
process and the key material risks and opportunities identified from this, is set out inour approach to materiality and impact section of this report.

Sustainability Report 2024

MATERIAL ITY & IMP ACT

Once the STARR process is complete, ERM’s operational risk processes provide
a globally consistent approach to managing our project risks that enables us to
identify and mitigate the risks before project commencement or at significant
change-in-scope events.

Multi-sector initiative to build organizational
capacity in emerging risk management

MATERIAL TOPICS

GOVERNANCEOVERVIEW

MATERIAL TOPICSDATA

Digital governance
MATERIAL ITY & IMP ACTGlobally, companies are embracing
innovation and seeking newopportunities for value creation via
digital transformation. This includes

GOV E RNA NCE

digitizing data related to environmental,
health and safety and sustainability

P EOP L E

management. At an accelerated pace,processes are becoming increasingly

HUMA N R I G H TS

automated with data that is moreconsistent, current, interconnected,
verifiable and insightful.

CL I MATE

As information assets become increasingly valuable
to organizations, ERM has established systems tosafeguard the confidentiality, integrity and availabilityof information within our own operations. This includes
policies and training to establish that it is everyone's
duty to access information and systems responsibly,
preserve the confidentiality of information and secure
our information assets. ERM's information security
involves enacting policies, procedures and best practices
to shield information assets from unauthorized access,misuse, exposure, destruction, alteration or interruption.

NAT UR E
SU PP LY CH A I N

Photo credit: Subiksha Arunkumar, Singapore

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MATERIAL TOPICS

GOVERNANCE

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MATERIAL TOPICSDATACybersecurity
MATERIAL ITY & IMP ACT

Threats to cybersecurity are an ever growing risk for any business, which must
be managed to retain customer trust and confidentiality. ERM’s cybersecurity
program incorporates a comprehensive set of information policies and best practiceframeworks, and we review these on a regular basis. We are independently assessedagainst these standards including International Organization for Standardization(ISO) 27001, and as of April 2024 ERM achieved certification against the latest versionof ISO/International Electrotechnical Commission (IEC) 27001:2022.

GOV E RNA NCE

ERM has a dedicated cyber and information security team comprising cybersecurity
engineering, operations, and governance risk and compliance. The team is led by the
Global Chief Information Security Officer.

CL I MATE
NAT UR E

In order to mitigate active and prospective threats, we conduct penetration testing,including external penetration testing against key business services as needed. Each
year, we conduct comprehensive security testing measures, and use lessons learned
to help continuously refine our approach and improve our defences.

Photo credit: ERM

MATERIAL TOPICS

GOVERNANCE

SU PP LY CH A I N

Despite the technical protections ERM has in place, we know the first layer ofprotection is our people. ERM provides robust mandatory cybersecurity training
to all employees and regularly tests our employees' ability to identify fake emails
via simulation exercises. We will continue to focus on training and testing of
employees in FY25.

Sustainability Report 2024

HUMA N R I G H TS

ERM operates a vulnerability management program to identify, mitigate and remediate
vulnerabilities within the company. We maintain a variety of security tools with upto-date operating procedures to effectively identify and manage vulnerabilities.

P EOP L E

ERM has strong security controls in place based on the principles of defense indepth and adopt a threat-led approach to ensure that the controls we implement
are appropriate and effective, and maintain an incident management policy, incident
response plan and procedures to ensure a consistent approach to incident management.

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CASE STUDY: COLLABORATING WITH OTHERS

Data constitutes a staggering
companies, and with the average costof a data breach now estimated at

The authors stressed the essential steps that companies
can implement to reduce cybersecurity-related risks
including:

5. Explore emerging capabilities. Consider adopting
emerging technologies and practices to enhancecybersecurity efforts, such as AI and machinelearning, for real-time threat detection, cyberthreat intelligence and a zero-trust architecture.
Even with the implementation of best practices, nocompany can be completely immune to cyber threats.
However, these measures do offer a level of protectionthat enables companies to reduce and manage thepotential consequences of cyber incidents.

HUMA N R I G H TS
CL I MATE

1. Integrate cybersecurity into ESG strategy.
Recognize that cybersecurity is now a criticalcomponent of ESG considerations and incorporatecybersecurity initiatives and reporting into yourESG agenda. It is critical that this drive comes fromthe top down and is supported by senior leadership.

4. Leverage advanced cybersecurity technologies.
Invest in advanced cybersecurity technologies,
expertise and tools to stay ahead of cyber threats,
ideally with a 24/7 security monitoring as well as
incident response plans to detect and respond to
threats immediately.

P EOP L E

$4.45 million.

In an ERM Sustainability Institute blog post,
co-authors Richard Jack Whittingham, Acting Head of
Methodology for ERM's ESG Fusion, and Hélène Gaudin
Project Quality and Coordination Lead for ESG Fusion,leveraged insights from ERM’s internal cybersecurity
experts to explore the cybersecurity landscape, how
it pertains to ESG and how corporate ESG andsustainability teams are addressing it.

awareness-raising activities, quizzes andcyberattack simulations.

GOV E RNA NCE

90% of intangible asset value across

It is therefore not surprising that cybersecurity is
increasingly at the forefront of corporate ESG agendas.

DATA

MATERIAL ITY & IMP ACT

The rising role of cybersecurity
in ESG and how companies aretaking action

MATERIAL TOPICS

NAT UR E

2. Establish strong governance mechanisms. Create
accountability for cybersecurity at the C-suite level,
treating it as a business risk, rather than just an
IT risk, through respective committees and regularrisk assessments.

SU PP LY CH A I N

3. Invest in employee training and culture. Trainall employees on cybersecurity best practices andfoster a culture of security awareness via regular

Sustainability Report 2024

MATERIAL TOPICS

GOVERNANCE

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Data security and privacy

GenAI policy aligned with ERM's Guiding Principles for Responsible AI and industry
best practices. This policy is bolstered by training and resources to ensure responsible
GenAI use across our business.
To further our commitment, we are establishing an AI governance committee
dedicated to overseeing and refining our GenAI integration. In line with our purpose,
we are committed to the ethical use of AI. Through these initiatives, ERM is poised toharness the transformative power of GenAI while mitigating potential risks.

GOV E RNA NCE

Our procedures for managing personal data are in line with our Global Data Protection
Policy and other international privacy policies. Our global privacy framework applies
across all regions, jurisdictions and affiliated companies. Employees face disciplinary
measures for non-compliance.

DATA

P EOP L E

We collaborate with our acquired companies and joint ventures to guarantee theiradherence to ERM's privacy standards. ERM's data processing agreements withthird parties outline the most recent requirements for managing international datatransfers. We have a formal online procedure to determine the appropriate Data
Processing Agreement for each specific instance of transferring personal data between
jurisdictions. We evaluate all third parties with whom we share ERM personal data.

HUMA N R I G H TS
CL I MATE

The ERM Technical Operating Measures Schedule provides assurance to prospective
clients that we have the necessary controls and measures to identify and safeguard
personal data. Data privacy training, which covers current standards and policies,
is a mandatory component of the training for all new hires and existing employees.

NAT UR E

Our principal websites have cookie mechanisms installed, and we work with otherdomain owners within The ERM International Group Limited to implement the same.
We are committed to ongoing development of our data protection systems to address
evolving technologies, such as the use of generative artificial intelligence (GenAI).

SU PP LY CH A I N

Artificial intelligence
ERM is responsibly leveraging generative GenAI to enhance our services, boost
internal efficiency, and elevate client experiences. Recognizing both the vast
opportunities and inherent risks of GenAI, we have developed a comprehensive
Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICS

GOVERNANCE

MATERIAL ITY & IMP ACTOur commitment to protecting personal data privacy and upholding integrity andtrust is of upmost importance to ERM's business operations. The ERM Data Privacy
Notice details the methods of personal data collection and processing via our website,
as well as through engagements with clients, suppliers and other external parties.

MATERIAL TOPICS

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MATERIAL TOPICS

DATA

Supporting our clients

ERM Libryo:
AI-powered environmental,
health and safety legal
regulatory intelligence.

ERM Themis:
Delivering compliancesupport for the mostcomplex of use cases.

ERM Engagement
Platform:
3D customized virtual
space for stakeholder
engagement.

HUMA N R I G H TS

ERM Climate
Impact Platform:
Physical risk assessments
leveraging global
climate data.

P EOP L E

ERM Net Zero Compass:
Flexible data management
toolset for decarbonization
informed by subject
matter experts.

GOV E RNA NCE

ERM Assess:
Digital solution for
performing assessments
and regulatory services

MATERIAL ITY & IMP ACT

ERM's digital solutions support organizations in enhancing their environmental,
health and safety and sustainability performance via technology-driven innovationand digital offerings. We provide our clients with effective business solutions throughour extensive global network, deep expertise in subject matter, comprehensive digital
capabilities and a suite of specialized software products.

CL I MATE
NAT UR E
SU PP LY CH A I N

Photo credit: Bethany Walker, United Kingdom

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Stepping up our impact• Formalize quarterly reporting of
Sustainability metrics to the Board.
management approach• Achieve annual targets for digital• Contribute 1% of prior year profits
globally.
• Publish initial Impact Report.

regulations

Sustainability Report 2024

MATERIAL TOPICS

GOVERNANCE

SU PP LY CH A I N

NOT ACHIEVED

NAT UR E• No reportable breaches of privacy

As with previous years, ERM contributed 1% of ourprior year’s profits to support sustainability initiatives
globally, reflecting the importance we place ondelivering our commitment as a sustainability leader
through our own operations, as well as through ourservices to clients and collaborations with organizations
across the globe. Throughout this report, we haveintegrated data on the impact we have delivered
throughout FY24, in particular, showcasing the work
being done to identify and measure the societal impactof our work delivered in client projects.

CL I MATE

ACHIEVEDHUMA N R I G H TS

to support sustainability initiatives

We successfully achieved our annual targets for digital
enablement of core service offerings but ERM reported
a breach of privacy regulations to the UK Information
Commissioners Office in July 2023. In response, wehave reviewed and further enhanced the rigor of
our cybersecurity programs and ERM subsequently
achieved certification against the latest versionof ISO/IEC 27001:2022.

P EOP L E

enablement of core service offerings.

During FY24, we continued to review and strengthen
our governance, including through formalizing
quarterly reporting of ESG/sustainability metrics
to the Board and the implementation of our refreshedenterprise risk management systems. We further
engaged our in-house subject matter expertise throughthe TCFD Working Group to support topic specificanalysis of risks, opportunities and impacts. We also
published our first Non-Financial and Sustainability
Information Statement in compliance with The
Companies (Strategic Report) (Climate-Related
Financial Disclosure) Regulations 2022.

GOV E RNA NCE• Implement refreshed enterprise risk

DATA

MATERIAL ITY & IMP ACTFY24 headline targets:

MATERIAL TOPICS

Photo credit: Maria Emilia Perez, Argentina

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GOVERNANCEOVERVIEW

MATERIAL TOPICSDATA

FY25 Governance targets
MATERIAL ITY & IMP ACT• Deliver quarterly reporting of sustainability metrics to the Board ESG Risk andSustainability Committee.
• Undertaking three country-level due diligence assessments to inform ourunderstanding of sustainability related risks in our own operations in
geo-politically sensitive locations.

GOV E RNA NCE• Client Excellence – Achieve 100% of Key Accounts assessed against STARR process.
• Develop three additional societal impact measures and hold impact conversations
with 100% of Key accounts.

P EOP L E

• Achieve no reportable breaches of data privacy.

HUMA N R I G H TS

We have an extensive program of ongoing development for each of the workstreams
under the framework of Governance. Examples of priorities include:• Further evolving our risk management processes, including through the creationof a new Taskforce for Nature-related Financial Disclosures (TNFD) Working Group.

Photo credit: Thomas Collin, United Kingdom

CL I MATE• Review of our mandatory training content and renewed engagement with
employees.
• Establishing our new AI Governance Committee to guide our engagementwith artificial intelligence.

NAT UR E• Expanding our impact measurement to further service lines.

SU PP LY CH A I N

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MATERIAL TOPICS

DATA

PeopleWhy this topic is material for ERM
At ERM, our people are at the heart of everything we do. Our
people form a global network of specialists whose work with ourclients and collaborations with wider stakeholders form the basisof our business. We take pride in our strong community, united byour shared purpose and the impact of our work. We support andlearn from each other, creating an inclusive and cooperative spacethat respects every individual and empowers all to thrive.
Under the framework of people management, we address three key
material topics for our business: attracting, retaining and nurturing
talent, promoting diversity, equity, inclusion and belonging, andensuring the health, safety and wellbeing of our employees.

Attracting & nuturing talent
62
Diversity, equity, inclusion & belonging 66
Health & safety
70
Wellbeing77
Stepping up our impact
80
Photo credit: ERM

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MATERIAL TOPICS

DATA

Attracting & nuturing talent
MATERIAL ITY & IMP ACT

ERM recruits passionate professionals from across theglobe who share our purpose of shaping a sustainable futurewith the world’s leading organizations. Our people share
our values and our values define our business.

G OVERN ANCEPE OPLEWe strive to create an environment in which employees want to build their longterm careers at ERM and across the globe. We routinely celebrate 10, 15 and 20 year
work anniversaries at the company while also welcoming new talent that supports
our growth to meet client needs. We attract world class experts and invest innuturing their talent.

PEOPLEERM offers diverse learning opportunities, including on-the-job training, coaching,mentoring, online courses, community sessions, and formal programs. The
Academy platform supports live virtual and self-paced online training, awarding
credits through course completions, certifications and badges. ERM also offers
coaching and mentoring to help employees grow their careers and informal
community sessions that provide opportunities to discuss the latest trends andupdates.

SUP P LY CH A I N

MATERIAL TOPICS

Photo credit: ERM

NATU R E

Sustainability Report 2024

CL I MATE

Our workplace, like many other organizations, has undergone significant changes
in recent years – in part due to the pandemic. We have a hybrid model of working
that reflects the international nature of our business, responds to the needs of ourclients and enables greater flexibility for employees. We have been evolving our
methods of engaging employees in this new context as this is key to our productive
and rewarding working environment. We encourage all employees to respond to ourquarterly engagement surveys, and respond to this feedback at a team, business unit,
regional and global level.

HUMA N R I G H TS

Through working on innovative projects with clients, engaging in continuous
learning and development, employee resource groups (ERGs) and partnershipnetworks across the business, our employees engage in professionally andpersonally rewarding opportunities.

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MATERIAL TOPICSDATAMATERIAL ITY & IMP ACTOur Global Learning team continues to optimize ERM’s learning programs for
employees which enable us to meet growth targets through responding to the needsof the market.
Building long-term careers through firm foundations

G OVERN ANCE

• Core learning journey: Continuous development is an essential part of building
expertise at ERM, and is supported by the ERM Academy. The core learning journey
enables employees to develop and hone the skills required for their current role andthe roles they aspire to move into.  
• Career advancement: Programs such as Path to Partnership and Aspire are pivotal
career advancing programs ensuring ERM is promoting at a sustainable rate andkeeping up with business needs.

Sustainability Report 2024

MATERIAL TOPICSPEOPLEHIGHLIGHT

Assessing the effectiveness of learning programs is crucial for ensuring everyone
at ERM has the necessary expertise and skills to meet the evolving sustainability
challenges facing our clients. Working with a third-party, in FY24 ERM evaluatedour learning program's impact and the value of investment, to support the further
evolution of our programs. A key outcome of the review was the adoption of an
online dashboard through which we can efficiently communicate the impact of
our learning programs on business outcomes, and drive continuous improvement.
Our dashboard highlights the influence of learning on the quality of our services
to clients, internal skills development, career advancements and other key
business parameters.

SUP P LY CH A I N• Consulting skills development: Core and Advanced Consulting Skills programs
build upon one another to grow ERM’s consulting capability, and the Managing
Our People program upskills people leaders by improving leadership capabilities.

New dashboard offers insights into learning

NATU R E• Technical skills development: Our employees are members of our vibrant anddiverse technical communities. These communities are led by recognized global
experts in their field, whose role it is to nurture the talent within the community,
share best practices and foster collaboration.  

Photo credit: ERM

CL I MATE• Service delivery: Our project management program supports skills developmentin our Partner in Charge (PICs) and project managers (PMs) who are responsible
for our project governance. PMs and PICs are at the intersection of ERM’s strategic
and technical approach and hold the success of client delivery.

HUMA N R I G H TS

• Client development: Our program focuses on building commercial competencies
with a client-centric approach. Participants in the program reported an increasein their confidence level and in their ability to coach others.  

PE OPLEStrengthening capability

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PEOPLEOVERVIEW

MATERIAL TOPICSDATATechnical communities

PE OPLE

Our technical areas

PEOPLESUP P LY CH A I N

MATERIAL TOPICS

NATU R E

Sustainability Report 2024

CL I MATE

Photo credit: Angela Levert, United States• EHS/ESG Management Systems& Compliance• Marine Systems• Nature Positive Network• Product Stewardship• Remediation Management• Safety• Site Investigation• Social Performance & Stakeholder
Engagement• Sustainability Strategy & Disclosure• Transaction Advisory• Visual Communication Design• Waste Compliance, Circularity& Disclosure• Water Resources & Storm/Wastewater

HUMA N R I G H TS

• Acoustics• Air Quality• EHS/ESG Auditing• Biodiversity & Ecological Services• ESG/Carbon Assurance, Certification& Verification• Change & Transformation• Cultural Heritage/Archaeology• Due-diligence• Digital• Energy & Climate Change• Engineering• Geoscience• Human Health & Ecological Risk
• Impact Assessment• Land & Right-Of-Way

G OVERN ANCE

Supporting our technical communities is the ERM Technical Career Hub which
provides detailed advice for employees on the framework and opportunities for careerdevelopment in technical roles within the business. The Hub provides guidance on
upskilling through the technical communities and a mentoring system that pairsjunior colleagues with senior specialists in their field. Nurturning technical talent
within the communities supports the development of our people talent and enhances
the contribution they can make through client work and collaborations.

MATERIAL ITY & IMP ACTERM has 28 technical communities which span all aspects fo our service delivery toclients and encompass specialists from across our global operations, who collaborate,share learnings and evolve best practice through their respective communities.

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CASE STUDY: OUR OPERATIONSOur highly successful Client
Development program received a
the Learning and Performance
Institute’s Learning Awards. This is

The program, championed by senior leaders, is led byhigh-caliber ERM coaches who use learning to drive
performance and develop ERM employees who feelaccountable for their results.

we have been awarded gold by an

CL I MATE

The Client Development program is a global learning
initiative, developed in partnership with externalsales training experts. It enables teams to becomecommercially focused trusted partners, to have aconsistent opportunity management approach andto improve a range of business key performanceindicators to stay ahead of the competition. Thislearning can be applied to business opportunities
and challenges by providing a suite of ready-to-use
tools and methods to help clients achieve theirlong-term sustainability goals.

HUMA N R I G H TS

external organization.

PE OPLEthe third consecutive year in which“I was proud to accept
this award, which reflects
the innovative work being
done by our Learningand Development Team,supporting our people
to deliver on our purposeof shaping a sustainable
future with the world's
leading organizations”

G OVERN ANCE

gold level recognition in FY24 from

The program has been successfully evaluated todemonstrate its business impact and showed apositive return on investment through comparing
the performance of program graduates with the restof the business. In addition, 94% of graduates foundthe program to be a valuable use of their time and
92% found it relevant to their role at ERM.

DATAMATERIAL ITY & IMP ACT

An award-winning commercial
learning program

MATERIAL TOPICS

NATU R E
SUP P LY CH A I N

Tim Strawn
Regional CEO for Europe, Middle East & Africa, ERM

Photo credits: ERM

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MATERIAL TOPICSDATADiversity, equity, inclusion & belonging
MATERIAL ITY & IMP ACTDiversity, equity, inclusion and belonging (DEIB) is amaterial part of our people governance and core values.
ERM takes pride in its diverse, equitable, and inclusive
culture, where fostering a sense of belonging is integral

G OVERN ANCE

to making our company an excellent place for careerdevelopment. We view our diversity as an asset that enables

PE OPLE

us to develop superior solutions for our clients and thecommunities we serve.

HUMA N R I G H TS

Our vision is to be the leading global force in environmental and sustainability
consulting, leveraging the power of diversity and inclusion to drive innovation anddeliver unparalleled solutions that positively impact our clients, our employees andthe communities we serve.  

• Continue to be a recognized and celebrated sustainability employer andorganization of choice.  

• Integrate and leverage DEIB in ERM systems and tools.  
• Establish and measure organizational and leadership accountability alignedwith best-in-class DEIB benchmarks.  

Sustainability Report 2024

MATERIAL TOPICSPEOPLE

It is only by mirroring the communities in which we operate, celebrating andadvocating for diverse perspectives, and embracing our shared duty towards
inclusion, that we can unlock our organization's full potential.  

SUP P LY CH A I N• Support inclusive sustainability programs and initiatives.   

Photo credit: Indradi Soemardjan, Singapore

NATU R E• Create a space where our workforce reflects the communities we serve, and all
ERM employees can do their best work and feel valued and recognized.  

CL I MATE

Consistent with our vision and delivering upon our targets, our objectives are to:Over a decade ago, we solidified our dedication to these principles with ourinaugural global policy on diversity. By actively fostering an inclusive culture,
we aim to cultivate a workplace where everyone is empowered to bring their wholeself to their job.

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OVERVIEW

CASE STUDY: OUR OPERATIONSERM encourages a more inclusive,
accessible, and equitable world for
The International Day of Persons
with Disabilities (IDPD) is the United
3 December to promote awareness,rights, wellbeing and inclusion ofpeople with disabilities. ​CL I MATE
NATU R E

This year’s IDPD theme, “advancing access and equity,”emphasizes the need to go beyond mere awarenessand take concrete actions to create a more accessible

SUP P LY CH A I N

The day serves as a reminder of the ongoing need toensure that the rights and dignity of persons withdisabilities are respected, and that societies worldwide
continue to work towards greater inclusivity andequality for all. FY24 was the fifth year we celebrated
IDPD at ERM.

HUMA N R I G H TS

understanding and support for the

PE OPLE

Nations-sanctioned observance on“As a company, we truly
believe in our people's• Types of neurodiversity, key characteristics and theautonomy to truly be
stigma surrounding neurodiversity;
themselves, and having• Barriers and challenges in the work environment; and• Ways to support neurodiverse individuals, raise
conversations like thisawareness and take action to advance access andequity for people with disabilities.
is important for raisingawareness, educationand collaboration amongindividuals and teams at
ERM to help everyone bringout the best of themselves.”and equitable workplace for people with disabilities.
ERM’s Global Head of DEIB led a three-partconversation on neurodiversity with ERM colleagues.
The discussion covered:

G OVERN ANCE

everyone, regardless of their abilities.

DATA

MATERIAL ITY & IMP ACTInternational Day of Persons
with Disabilities

MATERIAL TOPICS

Moses Williams
Regional DEIB Manager, ERM
Photo credit: ERM

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MATERIAL TOPICS

DATA

A global perspective

Employee Resource Groups

With a diverse workforce operating in over 40 countries, we draw on their perspectives
to shape and execute our DEIB strategy. Our engagement initiatives have fostereda supportive network of allies, employee resource groups (ERGs) and a dedicatedglobal DEIB team, all contributing to raising awareness, educating and providing
training throughout the organization. We are committed to fostering a culture ofopen dialogue, actively seeking feedback and integrating our DEIB strategic actions
companywide. Our DEIB strategy is grounded in ERM’s overall business strategy.
In FY24, we updated our strategy and longer-term goals for greater impact.

At ERM, an ERG is a group of employees who identify with others similar tothemselves and their allies. ERGs serve as internal communities, providing personalconnections and affiliation for its members and with the organization. ERGs assist
the organization in fostering an environment that excels in DEIB initiatives byserving as the common voice for employees who identify themselves with a particulardimension of diversity (e.g., gender, ethnicity, sexual orientation, among others).
Each region has ERG chapters, which combine to create the larger, global ERG.

MATERIAL ITY & IMP ACTMembership is open to all at ERM: you do not need to belong to any dimension ofdiversity in order to participate. Each ERG has a charter that outlines the scope andpurpose of the group.

G OVERN ANCE

Race/ethnicity and allies

EnABLE

People with disabilities and allies

GLOW (Global Women)

Women and allies

PACE (Parents and carers)

Parents, carers and allies

PRIDE

LGBTQ+ and allies

CL I MATE

EmbRACEHUMA N R I G H TS

Focus

PE OPLE

Global ERGs

NATU R E
SUP P LY CH A I N

Photo credit: Celine Nio, Singapore

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CASE STUDY: OUR OPERATIONS

Celebrating Pridepride observance was Authentically Me,
promoting a workplace that is a safe
they are without worry of judgement
or retribution.

PE OPLE

Gina shared three key practices for us to reflect on andadopt as we evolve our sustainably inclusive culture:“Gina’s session reminded
me to look kindly on mypast. Being queer often
focuses on progression,
but its important to lookupon my time in thecloset with grace”

G OVERN ANCE

haven for ERM employees to be who

DATA

MATERIAL ITY & IMP ACT

Our theme in FY24 for ERM’s annual

As part of our celebration, we welcomed Gina Duncan,
an external expert on transgender inclusion, to speak
to us about her journey of becoming her authentic self,
the challenges transgender people face across the globe
and how we can foster an environment in which people
feel safe enough to be their true selves. Using a blendof her lived experiences, education on concepts central
to understanding the transgender community andpractical tips on how to be an ally, she aimed in this
impactful session to inspire and guide us towards bettertransgender inclusion in the workplace and beyond.

MATERIAL TOPICS

Ian Treat
Senior Consultant, ERM

NATU R E• Advocate: Raise the voices of those who are being
affected by challenges and lend our support tochampion their cause.

CL I MATE• Action: Take responsibility as individuals for our own
education and continue to evolve our understandingof key issues.

HUMA N R I G H TS

• Affirm: Make people feel safe and secure with thesubtle cues we send through body language andwords, such as sharing your pronouns.

SUP P LY CH A I N

We are pursuing relationships with external LGBTQ+
organizations to help strengthen our approach.

Photo credit: Edward Huang, Taiwan

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MATERIAL TOPICS

DATA

Health & safety
MATERIAL ITY & IMP ACTAt ERM, safety is paramount and a core aspect of our culture.
We continue to perform well from a safety perspective as
we adapt to a changing workplace environment and growthin our workforce.

G OVERN ANCE

Our company’s procedures and protocols form the backbone of our efforts, buildingon active leadership across ERM. However, the responsibility does not lie solely with
ERM’s leaders - everyone has a responsibility to do the safest work possible.

PE OPLE

Operating safely and without incident is essential to fulfilling our commitment to thewellbeing of our employees, clients, subcontractors and the communities in which we
work. For instance, any employee or subcontractor is empowered to halt work if they
identify a condition or behavior that is unsafe.

HUMA N R I G H TS

Sustainability Report 2024

MATERIAL TOPICSPEOPLE

Certifications
ERM’s global SMS conforms to all requirements of ISO 14001 (International
Standard for Environmental Management Systems) and ISO 45001 (International
Standard for Occupational Health and Safety Management Systems). Many of
ERM’s local business units have obtained and continue to maintain third-party
certifications to the ISO 9001 (quality), ISO 14001 (environment) and/or ISO 45001(occupational safety) standards.

SUP P LY CH A I N

ERM has a well-established and thorough Safety Management System (SMS),
encompassing safety-oriented policies, defined roles and responsibilities, training
programs, initiatives and methods for assessing the efficacy of our management
strategy. Our SMS directs our efforts to reduce health, safety and environmental risks,
and it is based on International Organization for Standardization (ISO) requirements.

Photo credit: Edward Huang, Taiwan

NATU R E

We have integrated aspects of our DEIB process into our safety initiatives. For
example, we offer tailored travel guidance for members of specific communities
traveling to locations with different legal or cultural norms compared to their homeregions, and we procure personal protective equipment suitable for various body types.

CL I MATE

It is our duty to take all necessary measures to guarantee the safety of everyone
working at or representing ERM. The wellbeing and safety of our employees and thoseaffected by our operations are fundamental to our business practices. Safety must
always be the priority, without exception, in every place and at every moment.

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Safety at ERM

5. Maintaining balance between safety and operational objectives to realize safety as
an integrated part of the organization’s operational systems. It is not just the way
we do safety; it is the way we do business.
Collectively, the five elements of Safety AT ERM help our entire workforce to bothunderstand and articulate the most important aspects of our overall health and safety
program. They also help us as an organization remain focused as we look to identify
opportunities to improve our health and safety performance.R

HUMA N R I G H TS

3. Emphasizing positive safety to build a culture where safety successes arecelebrated, and incidents are not punished but used as a learning experience.
ERM promotes a positive culture through monthly and quarterly recognition
programs for exceptional safety behaviors and activities.

CL I MATE

4. Risk management through both informal and formal processes to ensure thathazards are identified, controlled and monitored at every possible opportunity.

MATERIAL TOPICSPEOPLESUP P LY CH A I N

Sustainability Report 2024

NATU R E• Travel safety by providing all international travelers with a detailed risk reviewof their destinations before they travel. In addition, we offer training on travel
health, safety, security, emotional wellbeing and incident response, as well as
provide traveler resources specifically for female, LGBTQ+ and other at-risk
community travelers, who can face unique challenges when traveling.
• See.Own.Share – Beyond Hazard Recognition companywide curriculum,
which includes an online module and an instructor-led session. The training
reinforces hazard recognition, dilemma management, intervention and coaching

PE OPLE

2. Training and competency of our people and ERM to ensure that everyone
has the required skills to perform their tasks safely. ERM assesses competency
requirements and provides appropriate competency training for all employees andawareness for contractors and visitors. Such training must occur prior to exposure
to risk. Training effectiveness is evaluated both at the time of training and as an
employee performs work.

techniques and introduces the concepts of consequence prevention and“future proofing” activities. In addition, we hold a series of workshop sessions
each year where small groups of Partners are presented with safety dilemmas
or provocative questions designed to stimulate conversation around our overall
health and safety culture.

G OVERN ANCE

1. Active leadership not only by our Partners, but by every employee. We all have an
impact on each other and a personal and collective responsibility to ensure we allgo home safe each day. The Active Leadership Audit Program allows our employees
to periodically and consciously stop and assess the activities they are responsiblefor (or routinely observe) with respect to safety.

DATA

MATERIAL ITY & IMP ACTFive elements channel our focus to ensure our journey to safety excellence stays true
to its course:

MATERIAL TOPICS

Photo credit: Jessica Velazquez, Mexico

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OVERVIEW

CASE STUDY: OUR OPERATIONSIn September 2023, we launched a

Feedback from our employees has been very
positive, and they appreciate the seamless transfer
of information from travel management companies tothe centralized travel database and find value in thereal-time event notifications.

new travel risk management approachboth safely and sustainably. Under the
new system, all travel that is booked
travel management companies iscentralized travel database.

NATU R E

The new approach also benefits our travelers. Travelers
automatically receive destination travel and risk
information via email. Real-time risk information isavailable on their mobile devices, and emergency alerts
are automatically communicated to travelers so they
can make informed decisions.

MATERIAL TOPICSPEOPLESUP P LY CH A I N

Photo credit: Diego Fernandes, Brazil

Sustainability Report 2024

CL I MATE

This database provides real-time visibility into ouremployees’ travel locations so we can efficiently
coordinate emergency response, if needed.

HUMA N R I G H TS

automatically transferred into a

PE OPLEthrough one of our globally approved“I have traveledinternationally for ERM
for over 20 years, and thiswas the first time I received
real-time threat information.
Because of the app
notification I was able tomodify my travel path fromhotel to client to avoid thearea of impact. I am gratefulthat I was able to avoid thedemonstrations.”

G OVERN ANCE

to ensure our employees are traveling

DATA

MATERIAL ITY & IMP ACT

Protecting our employee healthand safety while traveling

MATERIAL TOPICS

Roland Guerrero
Technical Consultant, ERM

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PEOPLEOVERVIEW

MATERIAL TOPICSDATA

Our health & safety services to clients
MATERIAL ITY & IMP ACTERM helps clients to safeguard people, assets and reputation by transitioning to theworkplace of tomorrow. According to our experience with leading companies, rather
than improving safety performance, traditional approaches may actually impede
progress as they are often difficult to embrace, replicate, and sustain. To mitigate
this, ERM helps organizations to:• Transform their approaches to Health and Safety to be human-centric;

G OVERN ANCE

• Strengthen existing safety culture and demonstrably improve safety performance;• Reduce risks by developing skills to better observe unsafe behaviors, identify
hazards, and empower people to take action;

PE OPLE• Enhance effectiveness of leaders, employees and contractors to promote
safer outcomes;

HUMA N R I G H TS

• Reinvigorate existing processes and programs – maximizing the value ofsafety investments.

CL I MATE

ERM has a broad and diverse global consulting team that includes health, safety, andrisk management consultants, stakeholder management consultants, data analysts,
human factors specialists, engineers and coaches. Internally, have a dedicated Safety
technical community which aims to engage, share, and innovate across our growing
range of safety services, giving our dedicated Subject Matter Experts (SMEs) space tolearn and grow.

NATU R E
SUP P LY CH A I N

Through the provision of advanced technologies and systems solutions, ERM can help
clients to set up functional safety management systems, enabling owners, designers
and operators of various industries to plan and manage assets and projects moresafely and sustainably.
We co-design solutions for leadership and culture programs, contractor andconstruction safety, process safety, functional safety training, fatality prevention,and many other specific client objectives to keep people and assets safe.
Photo credit: Victoria Gleeson, Australia

Sustainability Report 2024

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PEOPLEOVERVIEW

The impact of our services in FY24

300

550

health & safety
projects

Engaging>1,800SUP P LY CH A I N

is the most powerful meansof driving improvements inhealth & safety

110

leadershipfocused projects

NATU R E

senior leadershipengagement

We delivered

CL I MATE

95%

Health & safety
executives
agree thatmanagement
improvement
projects

HUMA N R I G H TS

leadership& culturetransformation
projects

risk reduction
projects

PE OPLEAs with our two previous global health and safety surveys (2018 and 2021) our clientstell us that the greatest challenge they face when it comes to health and safety issenior management leadership (95% of participants in 2024). They also told us that
this year, more than ever before, psycho-social risks and mental health are becoming
increasingly important to them.​

1,200

G OVERN ANCEThis year, we worked with the health and safety technical community to develop
an approach for measuring the impact of our work with clients. We leveraged theinsights of our third global Health and Safety survey, where we engaged directlywith 256 functional leaders from companies with combined revenues of $7.2 trillion
employing 11 million people (and many millions of contractors) in 150 countries tofind out their most pressing issues.

2,000+DATA

MATERIAL ITY & IMP ACT

ERM worked on over 2,000 health and safety projects in FY24, delivering value
in terms of leadership and culture transformation, improved health and safety
management and risk reduction. These projects, which are typically commissioned
and sponsored by a combination of senior executives, operational leaders andfunctional health and safety leaders, form the core of our services and sit alongsideother advice we provide in site investigation projects, due diligence, ISO 45001
certification and sustainable operations.  

MATERIAL TOPICS

executive leaders
to drive meaningful impact

Photo credit: Duncan Priddle, United Kingdom

Sustainability Report 2024

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PEOPLEOVERVIEW

MATERIAL TOPICSDATAPE OPLEHIGHLIGHT

HUMA N R I G H TS

Safety-led operational transformation
at Rio Tinto’s Richards Bay Minerals

G OVERN ANCE

As illustrated in the case study below, there are a range of positive impacts evident
when we engage senior leaders who in turn, apply these learnings in complex andhigher-risk working environments. In FY25, we will continue to evolve our methods
to quantify these impacts, with these learnings then being applied by our technicalcommunity as we engage with clients in their safety journey.

For most of its history, Richards Bay Minerals (RBM), a mining and processing
business employing 5,000 people in South Africa, was challenged by tragic safetyincidents. In its first 30 years, a member of the workforce lost their life every
14 months – unacceptable industrial safety performance by any yardstick.

CL I MATE
NATU R E

Now, more than a decade since Rio Tinto took control, RBM has not recorded afatality in over five years. It stands as one of the most advanced heavy industry
operations in South Africa and is recognized as a world-class enterprise. The
remarkable transformation raises the question: how was this achieved?

SUP P LY CH A I N

Watch the video here

Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICSPEOPLE

MATERIAL ITY & IMP ACT

Recognizing the importance of leadership, we focused the development of ourinitial health and safety impact metric on this aspect of our work. In the past year,
we undertook 110 leadership-focused projects. These ‘boots to boardroom’ programs
engaged more than 1,800 executive leaders; advising leadership teams, co-diagnosing
problems, developing strategic and tactical plans, coaching teams of change agents,
and implementing programs to drive improvement.

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OVERVIEW

CASE STUDY: OUR OPERATIONSStop work authority
in scope and is not limited to physicalsafety. It is used as a temporary
to discuss the issues and come to anagreed approach before continuing.

PE OPLEHUMA N R I G H TS
CL I MATE

Stop work authority is a critical aspect that we stressto our employees from the beginning of their careersat ERM. For instance, on Caleb Karmelich's first site
visit as an ERM employee, the client wanted to tour
an area within the factory where polyvinyl chloride(PVC) plastic was being crushed into small pieces forprocessing. However, microplastic dust had become
airborne inside the area. Caleb had concerns about
exposure to the dust and called a halt to entering theroom. After discussing the risks of dust exposure withthe client and the team, they all agreed not to enter
the area.

“During the onboarding
process at ERM, I had
learned about stop work
authority. Because myauthority to stop work
was emphasized so early
on, I felt confident to speak
up to the client and the sitemanager when I noticed
a hazardous situation in
the field.”

G OVERN ANCE

measure to allow all concerned parties

DATA

MATERIAL ITY & IMP ACT

Stop work authority at ERM is broad

Employees have the responsibility and authority,
without fear of reprimand or retaliation, to temporarilystop any ERM controlled work activity that they believe
presents an occupational health, safety or psychologicalrisk to themselves or personnel under ERM control. This
responsibility and authority also extend to any activity
that is perceived to pose an immediate risk to the
public or the environment.

MATERIAL TOPICS

NATU R E
SUP P LY CH A I N

Caleb Karmelich
Senior Consultant, ERM
Photo credit: Hanh Nguyen, Vietnam

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PEOPLEOVERVIEW

MATERIAL TOPICS

DATA

Wellbeing
MATERIAL ITY & IMP ACT

ERM defines wellbeing as a state of being comfortable,
happy and healthy, which encompasses our mental,
physical and financial health, sense of self-worth and theability to make meaningful contributions in our workplace

G OVERN ANCE

and broader communities.

PE OPLEWe understand that wellbeing is of vital importance. When we feel at our best
physically and mentally, we live our most fulfilling lives and deliver our best toeach other, our families and friends, and our clients.

HUMA N R I G H TS

Led by our Global Head of Mental Health and Wellbeing and sponsored by our Chief
People Officer, we continued our focus on education, resources and destigmatization.
Initiatives support the many and varied factors that contribute to wellbeing andenable our employees to participate in a way that they feel most comfortable andadvantageous to them.

CL I MATE

As a business and a collective of individual people, we believe it is importantto actively look out and support each other, recognizing that wellbeing issomething that needs to be nurtured and maintained both in and out of theworking environment.

NATU R E
SUP P LY CH A I N

Photo credit: Heather Rigby, United Kingdom

Sustainability Report 2024

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OVERVIEW

CASE STUDY: OUR OPERATIONSAward-winning Security
to Thrive program

MATERIAL TOPICSDATA“Security to Thrive wasone of the most impactfultraining sessions I haveattended. It took me on ajourney of self-exploration,
which created the perfect
We have integrated core elements of “Security to Thrive” environment for light bulb
into all of ERM’s core people programs, including thenew partner induction, graduate entry program, Mental moments and a desire to
Health Champion program and line manager training.
do more for the wellbeingof our ERM family.”PE OPLEHUMA N R I G H TS

ERM is proud to receive a This Can

G OVERN ANCE

Photo credit: Shafikah Sani, Singapore

MATERIAL ITY & IMP ACTOur program delves into the physiological aspectsof stress responses, educating employees about their
nervous system and providing practical tools toeffectively manage and modulate emotional reactions.
These tools become strategies for daily routines. Our
program also draws on neuroscience to explore theemotional and motivational circuitry of the brain anddeepen participants’ comprehension of how to foster
empathy and social connections. As participants become
more attuned to the intricacies of their own and others’
emotional experiences, they are better positioned tocontribute to an empathetic work environment.

CL I MATE

Happen award for the “Best New
Workplace Approach to Mental

NATU R E

Wellbeing” for our “Security to Thrive”

SUP P LY CH A I N

program, which aims to address a
Neil Ackerman,
Partner, & PACE (Parents & Carers) ERG Lead, ERM

growing demand for a more holistic
approach to mental wellbeing.
Photo credit: Karen Aitchson, United Kingdom

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OVERVIEW

CASE STUDY: OUR OPERATIONSERM launches "Rest Well"a comprehensive program dedicatedto improving the quality of sleep
overall wellbeing.

SUP P LY CH A I NPEOPLENATU R E

MATERIAL TOPICS

CL I MATE• Mental health champions: Inspiration and motivation
to prioritize sleep and make positive changes throughour supportive community of global champions,who provide a safe space for employees to share theirexperiences and learn from successes and setbacks.

Photo credit: Diana Pretelt, Colombia

Sustainability Report 2024

• Expert insights: Valuable insights from third-party
experts through a keynote webinar, online question
and answer forum and bite-size videos about sleep
science and innovative approaches to achieving
optimal sleep health; andHUMA N R I G H TS

Rest Well aims to reshape our relationship with sleep.
Through a combination of resources, challenges
and insights, ERM is committed to empowering our
employees to prioritize and optimize their sleep habits.

• Challenges: Biweekly challenges designed to help
people implement positive changes in their sleep
routine. From establishing a consistent bedtime to
reducing screen time before bed, each challenge isdesigned to gradually improve sleep quality andoverall wellbeing;

PE OPLEIn today's fast-paced world, where demands on
our time and attention seem endless, getting a goodnight's sleep can often feel like a luxury rather thana necessity. However, we believe that quality of sleep
is fundamental to living a healthier, happier life.

• Resources: Evidence-based information about
sleep hygiene, circadian rhythms and the scienceof sleep as well as practical tips and strategies for
improving sleep habits and overcoming common
sleep challenges;“In our fast-paced life,
sleep often gets relegatedto the backseat as weprioritize work andsocial commitments.
I implemented Rest Well'ssuggested changes in mydaily schedule and see
significant improvement
in my energy andconcentration levels.”

G OVERN ANCEfor our employees and enhancing

As part of our continued efforts to provide preventative
mental health care, Rest Well encompasses tools to help
people feel more well-rested every morning, including:

DATA

MATERIAL ITY & IMP ACT

ERM recently launched Rest Well,

Whether someone is struggling with insomnia, feelingconstantly fatigued or simply looking to enhance their
sleep quality, Rest Well is here to support them on theirjourney to better sleep.

MATERIAL TOPICS

Sayani Banerjee
Consultant, ERM

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PEOPLEOVERVIEW

Stepping up our impact• 100% of eligible full-time employees
complete Contribution Statements.
in learning effectiveness.
• Achieve global DEIB annual targets.

strengthen community within ERM
to meet client needs and enhance• Maintain net engagement score• Creating a dedicated DEIB online community for our
employees to encourage global engagement, thought
leadership and up-to-date information on DEIB eventsand trending news.   

• Review of pay equity across career grades• Partner promotions increased by 92% globally and
66% of participants were promoted in our future
leader’s program entitled Aspire.  

CL I MATE

our social impact• Growing participation in ERGs across the company
by 36%.  

NOT ACHIEVED

NATU R E• We updated ERM’s key project management program,
PM@ERM, and a new program, PiC@ERM, waslaunched in the second half of FY24. From October
2023 through March 2024, 248 PMs and 221 PiCs
completed the program.  

above industry average

SUP P LY CH A I N

Our global DEIB annual targets were successfully met by:• Achieving the most ethnically diverse workforce ever,with 37.4% of employees who have disclosed theirethnicity identifying with a category other than White.
Sustainability Report 2024

MATERIAL TOPICSPEOPLEHUMA N R I G H TS

• Achieve workforce growth and• Detailed review and enhancement of ourcompensation package through incorporating
additional benefits to reflect employee feedback• Being recognized as a Diversity Employer/Organizationof choice with our Latin America and the Caribbean
region winning several DEIB-related awards, including
the Human Rights Campaign “best places to work for
LGBT+ talent” in 2023 in Argentina.  

PE OPLEACHIEVED

Supporting our talent retention, during FY24 thefollowing was undertaken:• Increasing the representation of women and ethnic
minorities at the Partner level, achieving genderbalance in our Associate Partner pipeline and increasing
participation in ERGs across the company by 36%.  

G OVERN ANCE

• Achieve year-on-year improvement

DATA

MATERIAL ITY & IMP ACTFY24 headline targets:

During FY24 we reassessed our people management
strategy and shifted from workforce growth toworkforce retention, further strengthening our people
management programs and engagement. While we
did not meet the growth and engagement targets we
did see a positive impact in terms of our turnover andretention rates, with engagement scores increasing
towards our target rate by the end of FY24. Supporting
this, we achieved our targets for contribution statements
and learning and effectiveness programs, positively
positioning the business for FY25.

MATERIAL TOPICS

Photo credit: Luana Kwai, Brazil

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PEOPLEOVERVIEW

MATERIAL TOPICS

DATA

Wellbeing• Implemented local Employee Assistance Programs across our global footprint,
ensuring employees have access to essential mental health services.
• Refreshed ERM’s internal Wellbeing Hub and trained and deployed 60 mental healthchampions across our global operations, reinforcing our commitment to mental
health advocacy.

MATERIAL ITY & IMP ACT

We took the following steps to promote employee wellbeing during FY24:G OVERN ANCE

• Integrated the Calm app into our corporate wellness program, with over 50% of
employees globally signed up to the app.

PE OPLE• Aligned our Global Safety Week theme with mental health, focusing on“Maintaining Balance” to underscore the importance of mental equilibrium.

HUMA N R I G H TS

• Implemented a dedicated mental health speaker program to support our ERG
communities, addressing key topics, such as men’s mental health and providing
self-care resources for parents and caregivers.
• Organized various local events, such as flow yoga, meditation sessions andnutritional workshops, to foster holistic wellbeing for our employees acrossour global footprint.

CL I MATE
NATU R E
SUP P LY CH A I N

Photo credit: Edward Huang, Taiwan

Sustainability Report 2024

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PEOPLEOVERVIEW

MATERIAL TOPICS

Health, safety and wellbeing• Implement ‘Security to Thrive’ Program

We will continue to focus on H&S leadership through delivery of our global
programs including our active leadership, healthy working and travel safety
programs amongst others.  

• Increase participation in ERG groups by 10% from FY24
• Achieve combined voluntary and involuntary turnover rates below FY24
• Improve talent brand as measured by brand awareness metrics

During FY25, we will further develop our people management through key areas
where we feel we can be most impactful and in alignment with our targets.

We will further strengthen our employees’ wellbeing through:   • Our global and regional external speaker programs.  
• Implementing or expanding key initiatives, including:   • Security to Thrive• Sleep hygiene campaign;  We will continue to focus on talent development through deploying the client
excellence tools across all our teams within our key client program to grow anddevelop their capabilities, continue strengthening the ERM way of client excellenceand partner even more strategically with our clients to create even greater impact.   

• Movement campaign; and  • Increase underrepresented minority population year over year;  • Provide H&S expertise to support our clients in the delivery of their operations  • Continue to develop the breadth of our technical services to clients acrossindustries through our technical community skills programs  • Develop our methodology to assess the social impacts of our client projects  • Continue to provide thought leadership through our collaborations and the
ERM SustainAbility Institute.

SUP P LY CH A I N• Increase representation of women and minorities at Partner and director levels;  Our focus for accelerating impact through our client work and collaborations
includes:NATU R E• Recognized as a top company for DEIB;  • Financial literacy insights for recent graduates.  

CL I MATE

We will look to accelerate our progress towards achieving our DEIB targets for
FY26 which include:   HUMA N R I G H TS

• Nutrition education program;  PE OPLE

TalentDEIBG OVERN ANCE

• Increase representation of women and minorities at Partner and Director levels(partner/CL5/BE4) from FY24

MATERIAL ITY & IMP ACTFY25 headline targets

DATA• Establish an inclusion index, systems and tools to measure DEIB efforts; and  • Improve leadership inclusion index score to beat industry benchmarks on
employee engagement surveys.  

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OVERVIEW

MATERIAL TOPICSDATA

Human Rights
Why this topic is material for ERM
The respect and promotion of human rights is of fundamental
importance to ERM and is at the core of our purpose. It informs
all aspects of our operations, including whom we employ and,how we manage our people, where we work and our selection ofcommercial opportunities, the services we provide to clients andour supply chain and the organizations we partner with.
Since our initial materiality assessment in 2012, ERM has
integrated consideration of human rights into our core material
topics. In FY24, we have made the respect and promotion of humanrights a standalone material topic after detailed consideration of
the impact that human rights has on us as a business and theimpact we can generate through our value chain.

Our commitment
Promoting human rights acrossour value chain
Stepping up our impact

84
88
91
Photo credit: Thien Nguyen, Vietnam

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HUMAN RIGHTSOVERVIEWOur commitment
fundamental importance in its own right and is alsointertwined with the challenge of tackling climate change
and the protection of nature, which is fundamental to

We see this in the rights of communities whose existence is under threat fromsea level rise, the impact of deforestation and forced repatriation on the rights
of Indigenous peoples, and recent court decisions establishing groundbreaking
precedence that failure to address climate change is an infringement of human rights.
With over 50 million people currently estimated to be subject to modern slavery
and discrimination still a daily occurrence for many more, the need to respect andpromote human rights remains as much a priority today as when the UN Declarationof Human Rights was first signed in 1948.
Equal rights for all

NATU R E

Business Commission to Tackle Inequality (BCTI)

CL I MAT E

Our commitments to the respect and promotion of human rights are integrated into
our Human Rights, Modern Slavery, and Child Labor Policy, as well as our health andsafety, supplier and other policies. They are integral to our governance, management
systems and future objectives, as set out in out updated Human Rights Strategy.

HIGHLIGHT

SU PP LY CH A I N

BCTI is a cross-sector, multistakeholder coalition of nearly 60 organizations
and their leaders. It was launched in July 2021 with the mission of mobilizing
the private sector to tackle inequality. ERM’s Global Leader, Social Performanceand Human Rights serves as a Commissioner to BCTI.
Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICSHUMAN RIGHTS

HU M A N R I GH TS

We report our performance annually via the Communication on Progress, which is
published on the UN Global Compact website.

P EO P L E

ERM supports the Universal Declaration of Human Rights, the United Nations
Guiding Principles on Business and Human Rights, and we uphold the principles
within the International Bill of Human Rights and the International Labor
Organization's Declaration on Fundamental Principles and Rights at Work. We aresignatories to the UN Global Compact and thereby commit to uphold its 10 principles,two of which focus on human rights.

G OVERN ANCEa just transition and sustainable future for all.

DATA

MATERIAL ITY & IMP ACTThe protection and promotion of human rights is of

MATERIAL TOPICS

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OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERS

Human rights and environmental
Companies need to understand thelinkages between these two aspects
effectively avoid harm and support
operations and value chain.

MATERIAL TOPICSHUMAN RIGHTS

4. Support suppliers. Supply chains can posesignificant human rights and environmental
challenges, and these are intensifying due to risinggeopolitical tensions, cost of living, and demand
for raw materials. Use supplier onboarding andmanagement to lift performance.

SU PP LY CH A I N

Sustainability Report 2024

procurement, health and safety, environment andhuman rights.

NATU R E

ERM highlights four actions for businesses to integrate
environmental and human rights due diligence:

CL I MAT E

Alexandra Guaqueta, Global Service Leader, Social
Impact Human Rights at ERM, spoke during the 12th
UN Forum on Business and Human Rights at a parallelsession on “realizing the right to a clean, healthy andsustainable environment: progress and opportunities
for human rights due diligence and the environment
in practice.”

HU M A N R I GH TS

remediation throughout their

P EO P L E

and adopt an integrated approach to“Mandatory humanrights due diligence andthe recognition of newrights are driving thenext wave of adoption and
2. Ask how decarbonization strategies are impacting
integration of standards
people. Climate action is meant to deliver a planetthat is safe for all, but transitioning energy
infrastructure may affect workers and communities. in corporate governanceInclude just transition considerations when setting
and management systems.
greenhouse gas emissions and environmental
impact reduction targets.
ESG will only be
3. Access cross-functional expertise in your company.
To meet the full need for integrated environmental
meaningful if we put
and human rights due diligence, companies mustbring together various functions such as operations,people at the center.”
1. Include rightsholders and stakeholder engagement
in environmental control. Most companies thatcomply with stringent environmental norms haverobust environmental risk management systems
in place. However, these do not always incorporate
meaningful engagement with potentially impacted
people – a process that typically helps uncover theconnections between environmental harm andhuman rights impacts.

G OVERN ANCE

due diligence go hand in hand.

DATA

MATERIAL ITY & IMP ACT

Alexandra Guaqueta speaking
at the 12th United Nations Forumon Business and Human Rights

MATERIAL TOPICS

Alexandra Guaqueta
Global Service Leader,Social Impact & Human Rights, ERM

85

HUMAN RIGHTSOVERVIEW

MATERIAL TOPICS

DATA

Modern Slavery
MATERIAL ITY & IMP ACT

Modern slavery exists across all parts of the world and in many forms, not all ofwhich are easy to recognize but are nonetheless important to mitigate against.

G OVERN ANCEERM recognizes that it is our responsibility to respect the human rights of ouremployees, those with whom we work and the communities within which we
operate. With a policy of zero tolerance towards modern slavery and wider violationof human rights, ERM is committed to supporting and aligning our work to the
UN SDG Goal 8.7, which seeks to eradicate modern slavery among children by2025 and universally by 2030.

P EO P L E

We are dedicated to systematically addressing risks of modern slavery in ouroperations. We believe it is not possible to say that modern slavery risks can ever becompletely eradicated but we are committed to doing our part to reducing such risk
and actively monitoring our operations consistent with this.

HU M A N R I GH TS

We report on our approach to management of modern slavery risk in our Modern
Slavery Statement, produced in accordance with the UK Modern Slavery Act 2015
and Australian Modern Slavery Act 2018 (Joint Modern Slavery Statements).
This year we have also voluntarily disclosed consistent with principles of theFighting Against Forced Labour and Child Labour in Supply Chains (CanadianModern Slavery Act) 2023.

CL I MAT E
NATU R E
SU PP LY CH A I N

Photo credit: Juliana Ramos, Argentina

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OVERVIEW

CASE STUDY: CLIENTin the production of nickel, copper,
cobalt and platinum group metals,
has enlisted ERM's assistance to ensurecompliance with the requirements of
the recently implemented Forced Labor
also referred to as Canada's modern
slavery act.

MATERIAL TOPICSHUMAN RIGHTS

Emily Olson
Chief Sustainability & Corporate Affairs Officer,
Vale Base Metals

SU PP LY CH A I N

Sustainability Report 2024

NATU R E

We have created a specialized modern slavery risk
assessment dashboard tailored for Vale. This tool
is designed to monitor, identify and prioritize
potential risks related to child labor, forced laborand modern slavery. It aids in fulfilling annual

CL I MAT E

Our initial step involved conducting a gap analysis of
the client's internal policies, procedures, and processes
to determine how closely Vale aligns with the act's
requirements and the OECD Due Diligence Guidancefor Responsible Business Conduct.

HU M A N R I GH TS

and Child Labor in Supply Chains Act,P EO P L E

Vale Base Metals, a global leader

In collaboration with Vale, we contributed to the
production and publication of the organization's
2023 Modern Slavery Report. The creation of this initialreport was guided by insights from ERM's gap analysis
and supply chain mapping, which built upon the
results of prior tasks to highlight the measures
Vale has implemented to identify and mitigate risks.

“We take pride in
the measures we've
implemented to preventand mitigate the risks offorced and child labor in
our operations and supply
chains. The team at ERM
has been instrumental
in ensuring our Modern
Slavery Report complies
with the latest Canadianfiling standards.”

G OVERN ANCE

reporting requirements, business planning andmanaging the supply chain by monitoring the client's
risk exposure according to country, industry and the
products and services acquired within Vale's operations
and supply chains.

DATA

MATERIAL ITY & IMP ACTPreventing modern slavery
risks in the supply chain at
Vale Base Metals

MATERIAL TOPICS87

HUMAN RIGHTSOVERVIEW

Promoting human rights across our value chainof our value chain, from our operations through to

DATA

Tackle Inequality and other organizations, as well as through the work of the
ERM Sustainability Institute and ERM Foundation. Through our collaborations
and partnershops we advocate for the respect and promotion of human rights
for broader society.

Our human rights services

Human Rights is one of our key sustainability operational programs which delivers
upon our Human Rights Strategy. Through this, we focus on areas of our value chain
where we have the ability to govern, monitor and create impact. Key aspects of ourapproach include:

ERM's most significant impact as a company is through our work with clients.
Drawing upon their collective expertise and knowledge of local contexts acrossthe globe, our social and human rights consulting services teams help companies
across industry sectors, at the corporate and asset levels, to conduct human rights
due diligence and manage social impacts through the following services:

MATERIAL TOPICSHUMAN RIGHTS• Supply chain risk assessment and management• Supplier risk management embedded in broader ethical sourcing andsustainable procurement process• Capability development and training of employees, contractors and suppliers• Developing and strengthening company management systems

SU PP LY CH A I N

Sustainability Report 2024

• Risk management, strengthening grievance mechanisms and remediation

NATU R E• Our collaborations and partnerships: A key mechanism by which we extend
the positive contribution we seek to make to promotion of human rights isthrough our collaborations including with the UN Global Compact, the World
Business Council for Sustainable Development, the Business Commission to• Modern slavery and forced labor risk assessment, planning, legislativealignment and disclosure

CL I MAT E• Clients: We provide human rights expertise for our clients who span acrossindustries, as further detailed in this section. This supports the promotionof human rights within their own organizations, supply chains and wider
communities within which our clients operate.

• Human rights risk, impact and salience assessment

HU M A N R I GH TS• Our supply chain: Our suppliers are required to work in accordance with ERM’s
purpose and values and adhere to our Human Rights Policy. ERM requires its
supply chain at all times to act ethically and respect and promote the rightsof employees, contractors and the communities within which they operateand deliver our services.

• Human rights policy and strategy development

P EO P L E• Our operations: From our Business Code of Conduct to training our staff,
human rights is embedded in our operational governance and our operational
approach. Our governance provides the framework for the promotion of humanrights and our employees support the respect for such rights through their
behaviors and delivery of our services.

G OVERN ANCE

our collaborations.

MATERIAL ITY & IMP ACT

We strive to promote human rights across the breadth

MATERIAL TOPICS• Just transition and addressing social factors of decarbonization• Social and human rights impact of climate risks• Disclosures in accordance with the Frameworks and Guiding Principles

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OVERVIEW

CASE STUDY: CLIENT

Alan Dayeh, ERM Partner, volunteers
Investment Association Australasia(RIAA) First Nations Peoples’ Rights
the creation of the Dhawura Ngilan(DNBII). DNBII is a joint initiative of
the First Nations Heritage Protection
Compact Network Australia.

MATERIAL TOPICSHUMAN RIGHTSSU PP LY CH A I N

Sustainability Report 2024

NATU R E

The initiative serves as a platform for First Nations
stakeholders to articulate their own expectations
for the responsible protection of cultural heritage,
expressed through a set of principles. Alan states“companies could choose to be a signatory or adopt
the principles, and banks and other investors canrequire adherence to principles as a condition offinance, similarly to the Equator Principles”.

ERM works with some of the world’s largest
mining companies to help them establish, operateand decommission mines in line with leading
environmental and social standards. ERM has a strong
track record of designing and working with leading
standards and frameworks, such as the Equator
Principles and IFC Performance Standards. We areproud to support the DNBII, as it could help strengthen
positive sustainable development outcomes for First
Nations and Indigenous Peoples around the world.

CL I MAT E

Alliance, RIAA and the UN Global

HU M A N R I GH TS

Business and Investor Initiative

In March 2024, the DNBII launched two guidance
documents: Principles Guide and the Business andInvestor Guide. Alan and Michael Gaggin, Business
Unit Managing Partner for ERM Australia, represented
ERM at the launch in the Australian capital of Canberra.

P EO P L E

Working Group and helped spearheadThis approach aims to bridge the gaps where
Australia’s federal and state regulations fall shortof the International Finance Corporation (IFC)
Performance Standards and the UN Declarationon the Rights of Indigenous Peoples. It also seeks todefine more clearly what constitutes free, prior andinformed consent (FPIC) within the Australian context.
First Nations groups elsewhere, including Canada
and United States, are looking at this initiativewith interest.

G OVERN ANCE

as the chair for the Responsible

DATA

MATERIAL ITY & IMP ACT

Dhawura Ngilan(Remembering Country)
Business and Investor Guides

MATERIAL TOPICS

Photo credit: Images supplied by First Nations Heritage Protection Alliance

89

OVERVIEW

CASE STUDY: CLIENT

ERM conducted a risk assessment
for Statkraft to identify humancorporate and project-level humanrights performance. The assessment
to the client’s activities and operations
capabilities to mitigate and manage
these risks.

HUMAN RIGHTSSU PP LY CH A I N

MATERIAL TOPICS

ERM’s efforts supported the client in ensuring
compliance with international standards and evolving
national legislation and holding up the Company’scommitment to respect human rights.

NATU R E

Sustainability Report 2024

CL I MAT E

ERM developed in-depth human rights risk reports
for 20 countries where the client operates, covering
key human rights issues of relevance for the client,including the rule of law, labor rights, security, andenvironmental and community impacts. The countryspecific human rights information empowered theclient to make well-informed business decisions anddetermine the necessary level of due diligence tomanage risks effectively.

HU M A N R I GH TS

as well as the existing management

P EO P L E

considered the inherent risks related“The results of theassessment and gap
analysis will support
Statkraft in upholding its
commitment towards ajust transition by ensuring
ERM's expertise in the renewable energy sector andtechnical capabilities in human rights issues provided
regulatory compliance andthe client with clear insight on human rights risks andgaps at both the corporate and project level, helping theimplementing adequateclient prioritize resources to develop and implement
corrective actions to mitigate the identified risks.
mitigation measures to
The country-specific human rights information
empowered the client to make well-informed businessmitigate adverse humandecisions and determine the necessary level of due
diligence to manage risks effectively.
rights impacts.”
Additionally, ERM carried out human rights due
diligence gap assessments for five selected assets acrossfive countries, in line with international standards
and relevant national legislation (such as the United
Nations Guiding Principles on Business and Human
Rights (UNGPs), OECD Guidelines and NorwegianTransparency Act). The assessment identified gaps
and offered insights for managing human rights risks
during the development and operation of renewableenergy projects.

G OVERN ANCE

rights risks, focusing on the client's

DATA

MATERIAL ITY & IMP ACT

Statkraft human rights
risk assessment

MATERIAL TOPICS

Harriet Spiegel
Managing Human Rights Consultant, ERM

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HUMAN RIGHTSOVERVIEW

Stepping up our impact

MATERIAL TOPICSDATA

FY24 target:• Finalize and implement updated human rights program
ACHIEVED• We extended mandatory training on modern slavery and human trafficking to
all employees.

P EO P L E• Our health and safety program continued to focus on delivering conditions which
protect the wellbeing of our employees and those whom we contract services from.

HU M A N R I GH TS• We expanded our human rights advisory service line and delivered trusted advice
to clients across the globe

CL I MAT E• We strengthened our engagement with our supply chain, seeking to further
understand their governance of human rights within their respective operations.
We reviewed and updated our Sustainable Procurement Policy and our Supplier
Code of Business Conduct and Ethics.

NATU R E• ERM provided thought leadership on human rights via key international bodies
and forums.

SU PP LY CH A I N• Through the ERM Foundation, we have renewed our focus on working with
nonprofits and social enterprises to support and promote the rights ofdisadvantaged sections of communities across the globe.

Photo credit: Vikrant Wankhede, Thailand

Sustainability Report 2024

MATERIAL TOPICSHUMAN RIGHTSG OVERN ANCE

• We have a dedicated operational program to further strengthen our governanceand performance of human rights with a key focus on supply chain management.
To more systematically identify potential adverse human rights impacts associatedwith our client work, we have strengthened our risk-based project screening criteria
to prevent causing, contributing to or being associated with these impacts.

MATERIAL ITY & IMP ACT

We are always to striving to enhance our approach to human rights and the positive
impact we can generate with respect to promoting human rights and reducing therisk of modern slavery and wider violations. During FY24, we focused on key areas
where we could be most impactful, these include:

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HUMAN RIGHTSOVERVIEW

MATERIAL TOPICSDATAMATERIAL ITY & IMP ACTIn FY25, we are stepping up our efforts to respect and promote human rights
across our value chain. Our human rights materiality assessment identified key
areas where focused interventions could generate the most impact, in line with
our Human Rights Strategy.
FY25 targets• Engage top tier of suppliers on human rights

G OVERN ANCE

• Undertake country and service human rights due diligence assessment• Ensure no unpaid workers, no material and unintended pay equity issues
Delivered through:P EO P L E• Additional awareness campaigns on human rights, modern slavery andchild labor;

HU M A N R I GH TS• Regional and service-specific human rights due diligence exercises;• Expanded engagement and monitoring of human rights performance within
our supply chain;

CL I MAT E• Exploring opportunities for the ERM Foundation to leverage funding andpro bono expertise to support key human rights such as access to water andsanitation, and address sections of communities suffering social and economic
exclusion through promoting sustainable livelihoods;

NATU R E• Increasing thought leadership through our partnerships and coalitions.

SU PP LY CH A I N

Learn more in ERM's Human Rights Strategy
Photo credit: Harold Duarte, Colombia

Sustainability Report 2024

MATERIAL TOPICSHUMAN RIGHTS92

OVERVIEW

MATERIAL TOPICSDATAClimateWhy this topic is material for ERM
ERM leverages our technical and business capabilities to help
clients navigate the challenges of transitioning to a low-carbon
economy. These challenges affect every organization, including
ERM and require a thorough understanding and assessment of
the risks and opportunities which climate change poses tobusiness operations and how to adapt accordingly.  
As with previous years, climate remains one of our mostmaterial topics, reflecting the impact we can generate throughdecarbonizing our own operations, supporting our clients to do
the same, and the contribution we make through working in
partnership with organizations to support wider societal efforts
to move towards a net-zero future.

Decarbonizing our operationsSupporting our clients
Carbon markets
Our partnerships & collaborationsStepping up our impact

94
98
103
105
107
Photo credit: Uswah Aziz, Canada

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE93

CLIMATEOVERVIEW

Decarbonizing our operations
urgency of response has never been greater.

Net-zerotargets
approved

G OVERN ANCEAs a company committed to demonstrating sustainability leadership we continue tostep up to the challenge and support our clients and their value chains to do the same.
Like our clients, we are seeking to further commercial growth while decreasing ouremissions, thereby decoupling our growth from our carbon footprint. This requires
us to make choices about how we operate and in particular, how we travel and deliver
our services to clients, and engage our supply chain to ensure we optimize low-carbon
options and deliver on our decarbonization targets.

DATA

MATERIAL ITY & IMP ACT

The global imperative of addressing climate change, and the

MATERIAL TOPICSP EOP L E

Proud to be aligned with the SBTi Net-Zero Standard.

Our operational response

ERM commits to reach net-zerogreenhouse gas emissions across thevalue chain by FY40.
Our near-term targets:

Long-term targets:
By 2040, we will:• Reduce absolute Scope 1 and 2 GHG
emissions by 90%.

• Achieve 100% annual sourcing of
renewable electricity (currently at 99%).

Both near-term and long-term targets
are set against a FY20 base year.

SU P PLY C H AI N

• Reduce absolute Scope 1 and 2 GHG
emissions by 50%.

• Reduce absolute Scope 3 GHG
emissions from purchased goods andservices, business travel and employee
commuting by 90%.

By 2030, we will:

N ATU R E

By 2028: ensure that 45% of suppliers byemissions covering purchased goods andservices will have science-based targets.

• Reduce absolute Scope 3 GHG
emissions from business travel
and employee commuting by 42%.

CL I M AT E

This year, we undertook an extensive recalibration exercise, expanding the scopeof emissions we monitor and report. The Science Based Targets initiative (SBTi)
verified that we have set science-based net-zero targets by 2040, consistent
with limiting global temperature rise to 1.5°C meeting the Corporate Net-Zero
Standard. Our updated Decarbonization Strategy, published alongside the annual
Sustainability Report, outlines how we deliver these ambitious targets.

Overall net-zero target:

H UMAN R I GH T S

We have long been committed to addressing climate change – through our own
operations and beyond. We have developed a Decarbonization Strategy to deliver on
our operational climate-related commitments. Climate is one of our key sustainability
operational programs which delivers upon our decarbonization targets. We reporton our science-based targets and performance and subjected our emissions data to
third-party assurance.

Photo credit: Uswah Aziz, Canada

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE

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CLIMATE
Scope 1 and 2 emissions• Activity based: a small increase in the reported use of chillers in our offices(Scope 1) and comparable slight increase in vehicular use to support our in-fieldsurvey activity for clients (Scope 2); and

1,004

1,037

FY23

FY24

DATA

Scope 1 emissions FY20 - FY24 (tCO2e)1, 2, 3
GRI 305-1
2,000

1,500

1,350
1,175
997

1,000

G OVERN ANCE

• Reporting and methodology: a change in our reporting approach andcalculation methodology for emissions arising from air conditioning andhybrid/electric vehicles.

MATERIAL TOPICS

MATERIAL ITY & IMP ACT

We are on track to meet our Scope 1 and 2 emissions reductions targets for 2040
against our FY20 baseline but our FY24 emissions have increased when compared
to last year. This is attributed to two key factors, namely:

OVERVIEW

500

For further information, refer to the Climate Supplement.
0

FY20

FY21

FY22

H UMAN R I GH T S

Scope 2 market-based emissions FY20 - FY24 (tCO2e)1, 2, 3, 4
GRI 305-2
2,000

CL I M AT E

Despite these increases, our Scope 1 and 2 combined emissions have reduced by 29%
in absolute terms compared to our FY20 baseline.

P EOP L E

Our Scope 2 emissions increased this year due to greater use of company cars, whichwere primarily used to support in-field survey work in inaccessible locations. Whilst
the ratio of vehicular trips conducted by electric and hybrid cars, relative to overall
company car use, positively continued to increase, the emissions associated with eachof these car trips also increased. The combination of increased trips and emissions
associated with each trip, resulted in higher Scope 2 emissions.

1,691
1,500

N ATU R E

1,000

SU P PLY C H AI N

500

91

53

25

FY22

FY23

126

0

FY20
Sustainability Report 2024

MATERIAL TOPICS

CLIMATE

FY21

FY24
95

CLIMATEOVERVIEW

Scope 3 emissions

Scope 3 emissions FY20 - FY24 (tCO2e)1, 2
GRI 305-3
60,00057,18350,00042,24039,39840,000G OVERN ANCE

30,000P EOP L E

20,00010,000

3,737
0

FY21

5,258

FY22

FY23

FY24

CL I M AT E

FY20

H UMAN R I GH T S

However, our largest source of Scope 3 emissions is associated with our supply chain.
To-date, we have calculated our supply chain emissions on the basis of spend but aswith many companies, we aim to engage further with our supply chain to improve
the accuracy of our data and better understand the source and scale of these emissions.
This will enable us to identify how and where we can accelerate decarbonization
through our suppliers. We will support our suppliers in this process, recognizingthat this is a challenge across sectors that must be addressed in partnership withothers. Working with our supply chain will be a key focus for us in FY25.

DATA

MATERIAL ITY & IMP ACT

Scope 3 emissions comprise a range of emissions sources from our business travel
and employee commuting to our supply chain. The largest category of Scope 3
emissions that are directly under our control, relate to business travel. While we
experienced a limited increase in business travel during FY24, relative to FY23, achange in emissions factors saw a significantly higher level of emissions associatedwith each kilometer traveled by air. This change in the factor explains the greater
increase in emissions compared with the increase in miles flown.

MATERIAL TOPICSN ATU R E
SU P PLY C H AI N

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE96

CLIMATEOVERVIEW

Assurance

Photo credit: Melissa Arteaga, Colombia

Sustainability Report 2024

MATERIAL TOPICS

CLIMATEemissions through natural climate solutions, in keepingwith our support for this approach. We have included
credits derived from carbon removals and reductions
as well as contributions to nature and livelihoods inline with guidance from the Natural Climate Solutions
Alliance and other leading entities.

Learn more in ERM's Climate Supplement

97

SU P PLY C H AI N

We have worked closely with the ERM Climate Markets
team to align our approach with the Claims Codeof Practice set out by the Voluntary Carbon Markets
Integrity Initiative (VCMI) which involves purchasing
high-quality carbon credits from respected carbon
registries. We are compensating for a portion of

The Companies (Strategic Report) (Climate-related Financial Disclosure)
Regulations 2022 (legislation.gov.uk)

N ATU R E

• High-quality carbon credits to compensate for a
portion of our residual emissions.

1

CL I M AT E

• Renewable Energy Certificates (RECs) to support our
reduction of Scope 2 emissions and enable us to use
100% renewable electricity for our offices; andThe statement sets out material climate-related
financial risks and opportunities as a business, theprocess by which we identify, assess and manage
these, and our key performance indicators for
tracking performance against our key targets in
respect of these. This statement is included in ourUnited Kingdom Annual Financial Report but also
forms the basis of our Taskforce for Climate-related
Financial Disclosure.

H UMAN R I GH T S

For FY24, we are incorporating the following in keepingwith industry guidance and recognized best practice:

For the first time this year, ERM is publishinga Non-Financial and Sustainability Information
Statement, in compliance with the The Companies(Strategic Report) (Climate-Related Financial
Disclosure) Regulations 20221.

P EOP L E

ERM is publicly committed to achieving net-zerocarbon emissions throughout our operations by 2040.
Despite efforts to minimize emissions, there will still
be some residual emissions between now and 2040,
primarily from employee travel. Our phased approachfor voluntarily compensating for residual emissions
began in FY23.

Climate-Related Financial Disclosure

G OVERN ANCE

Residual carbon emissions

DATA

MATERIAL ITY & IMP ACT

For the third consecutive year, we have undertaken
external assurance of our greenhouse gas emissions
data, aligning with our commitment to continuous
improvement and to support the heightened financial
disclosure mandates in the United Kingdom and otherkey jurisdictions where we operate. Learn more here.

MATERIAL TOPICS

CLIMATEOVERVIEW

Supporting our clientsthat energy is sourced, transformed andused globally. Pressure is increasingfrom investors, regulators, customers
to transition to a low-carbon economy.

Low carbon economy transition

Our services include:

ERM is distinctly positioned to help our clients in thecorporate, financial and government sectors to navigate
this transition, from strategic advice to practicalon-the-ground implementation.

• Techno-economic assessments across options todecarbonize industrial, transport and built environment
assets and portfolios, leading to clear recommendations;

Our services include strategic advisory services,
technological expertise, and capital project anddevelopment support to facilitate permitting.
Setting strategy• Providing climate policy analyses and intelligence
to assess evolving regulatory requirements; and• Assessing how nature-based solutions and engineered
removals can support carbon reduction goals andbuild resilience of assets impacted by climate change.

SU P PLY C H AI N

ERM’s experience helping clients navigate changes
across multiple sectors enables us to bring extensive
technical capability, to help organizations act at thescale and speed necessary to successfully implement
decarbonization strategies and remain competitive.

• Supporting clients to secure public funding forinnovative projects and providing subsequent project
management services; andPhoto credit: Phuong Uyen Nguyen, Vietnam

Sustainability Report 2024

MATERIAL TOPICS

CLIMATEN ATU R E

Supporting implementation• Helping fuel producers understand the futureofftake potential for alternative fuels to enable theenergy transition;

CL I M AT E

• Facilitating strategic, multi-stakeholder coalitions
to assist clients in ensuring economically andenvironmentally sustainable climate policies.

• Forming regional hubs of industries with sharedneeds for low-carbon solutions, such as hydrogen,heat networks and carbon capture;

H UMAN R I GH T S• Assisting companies in the development of newtechnologies and entering new value chains;• Helping to close, clean-up and regenerate old fossil
fuel related assets as the low-carbon transition
gathers momentum;

P EOP L E

Our technical experts advise clients at the sector,
corporate and asset levels to identify and reduce carbon
emissions and climate-related financial risk across thevalue chain. This includes:• Support for building new and repurposing existing
infrastructure for the low-carbon economy at theasset, local, regional and national levels;

G OVERN ANCE

and society for business and governments

DATA

MATERIAL ITY & IMP ACT

There is an urgent need to alter the way

MATERIAL TOPICS

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OVERVIEW

CASE STUDY: CLIENT

venture with Sumitomo Mitsui Trust
Bank, Limited (SMTB), aimed atin Japan. The strategic collaboration,
combines ERM's sustainability andlow carbon transition consulting

CL I M AT E

expertise with SMTB’s robust financial

H UMAN R I GH T S

ERM SuMi TRUST Consulting Ltd.,The governance structure of ERM SuMi TRUST
Consulting Ltd. includes a board of directors and astatutory auditor, ensuring balanced and effective
management.

P EOP L E

advancing climate change solutions“This joint venture
represents a significant
milestone in our mission
to foster sustainablebusiness practices. Our
collaboration underlines
our commitment to not
only address the pressing
challenges of today but
also to pave the way for
generations to come.”

G OVERN ANCEERM Japan Ltd. has formed a joint

Central to the joint venture's mission is the provisionof specialized consulting services to help companies
in Japan transition to a low-carbon economy. This
encompasses a wide range of services from greenhousegas emission assessments and decarbonization
strategies to climate risk analysis and the integrationof these elements into corporate strategies andgovernance. Additionally, it includes advisory services
on carbon markets and support for climate-related
disclosures, all designed to ensure compliance withinternational standards and support the global
ambition of limiting warming to 1.5 degrees Celsius.

DATA

MATERIAL ITY & IMP ACTERM Japan and Sumitomo
Mitsui Trust Bank joint venture
to support Japan's transition
to a low carbon economy

MATERIAL TOPICSN ATU R E

infrastructure. It is designed to support
Japanese companies in their efforts to

SU P PLY C H AI N

address climate-related challenges andalign their operations with the goalsof the Paris Agreement.

Tatsuya Noma
North Asia Managing Partner, ERM
Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE99

OVERVIEW

CASE STUDY: CLIENTERM served as a technical and ESG
Partners (GIP) in its acquisition ofEversource’s 50% stake in two United
Fork Wind and Revolution Wind.

H UMAN R I GH T S
CL I M AT E

ERM is a leading provider of offshore wind technicaladvisory services globally and has delivered several
large scale technical due diligence assessments in
the United States offshore wind market.

P EOP L E

States offshore wind projects: South

ERM’s technical due diligence services included a
detailed assessment of project construction contracts,
geotechnical and geophysical studies, foundation
design, wind turbine technology, as well as theconstruction schedule and operations andmaintenance strategy. ERM also provided detailed
analysis of the projects’ capital expenditure andoperating expense profiles.

“Our global transaction
advisory team helps
investors navigate the US
market using the team’s
vast experience in offshore
wind transactions aroundthe world. This significant
transaction comes at a timeof rapid growth with several
offshore wind farms now
under construction.”

G OVERN ANCE

advisor to Global InfrastructureSouth Fork Wind, a 132 megawatt offshore windproject located 35 miles east of Montauk Point in
New York State, entered service in March 2024.
Revolution Wind, a 715 megawatt offshore wind project
located 32 miles southeast off Connecticut’s coast,
is anticipated to be the first utility-scale wind farmin Connecticut and Rhode Island upon its expectedcompletion in 2025.

DATA

MATERIAL ITY & IMP ACT

ERM advises Global
Infrastructure Partners in
Eversource offshore wind deal

MATERIAL TOPICSN ATU R E

Photo credit: Daniel Savage, Canada

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE100

SU P PLY C H AI N

Matthew Irvine
Global Director of Renewables Transaction Advisory, ERMOVERVIEW

CASE STUDY: CLIENT

SSE Renewables, a leading developerand operator of renewable energy
United Kingdom and Ireland, is
expanding its international footprint.
a 400 megawatt portfolio ofand an additional 500 megawatts of

ERM has a proven track record in supporting timesensitive, multi-location due diligence efforts for solar
and other renewable energy transactions. We identify,
quantify and prioritize current, contingent and future
ESG and sustainability exposures. Our experience
allows us to anticipate issues, enabling them to beproactively addressed before transaction timelines
are impacted.

H UMAN R I GH T S

early-stage projects from IBC Solar

In addition, we provided an independent estimate
of energy yield and cost projections over the project
lifespan to support financial modeling.

P EOP L E

The company recently acquired

ERM is honored to have supported SSE Renewables
with these recent acquisitions by conducting due
diligence for both transactions. Our scope of work
encompassed a comprehensive review of the project
design, permitting and grid status.

G OVERN ANCE

generation headquartered in the

DATA

MATERIAL ITY & IMP ACTSSE Renewables solar projects
in Poland

MATERIAL TOPICS

early-stage solar photovoltaic projects

CL I M AT E

from Optisol. Taken together, the twosolar portfolios bring SSE Renewables's

N ATU R E

pipeline of solar projects in Poland

SU P PLY C H AI N

to 900 megawatts.
Photo credit: Alma Chen, Hong Kong

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE101CLIMATEOVERVIEW

Impact of our client work

FY24 renewable energy capital project delivery

1,000+

21%

Projects

Growthcompared
to FY23G OVERN ANCECONTRIBUTING TO

of installed
energy storage

CL I M AT E

10+ GWof installed
renewableenergy capacity

H UMAN R I GH T S

200+ GWP EOP L E

EQUIVALENT TON ATU R E

Our second target focuses on working with clients
capital project delivery for renewable energy projects.
At the United Nations Climate Change Conference of theParties (COP28), the goal of Tripling Renewable Energy
to 11,000 gigawatts (GW) was agreed and we were an
active member of this campaign. When we first started
measuring the size of our renewable energy portfolio
in FY21, we worked on 183 projects contributing to inexcess of 60 GW of installed renewable energy capacity.
In FY24, ERM has worked on over 1,000 projects
contributing in excess of 200GW of installed renewablecapacity and more than +10GW of installed energy
storage. We have therefore more than tripled our own
contribution to renewables development over the past
3 years and are comitted to continue along this trajectoryin the years to come. According to the International
Energy Agency (IEA), global annual renewable capacity
additions increased to nearly 510 GW in 2023.

DATA

MATERIAL ITY & IMP ACT

For the past 4 years, we have been focusing ERM’sofferings to support clients in the transition to a lowercarbon economy. Over this time, we have measured two
key elements of climate-related impact metrics for ourbusiness. The first relates to the increase in projects
that support clients in their transition to a lower-carbon
economy through a proxy measure of sales related tothese projects.

We set a target for FY24 to increase our sales fromlow-carbon economy transition projects by 20% fromthe previous year. Our sales increased on FY23, thereby
achieving this target. We also have a longer-term target
for FY26 for 40% of our total revenue to come fromprojects supporting the low-carbon energy transition.
We are on track to meet this target.

MATERIAL TOPICS

the annual carbon emissions of

SU P PLY C H AI N

45 million+
US households

We have evolved our methodology for these metrics each year, with dataremaining comparable overall.

Photo credit: Daniel Savage, Canada

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE102

CLIMATEOVERVIEW

MATERIAL TOPICS

DATA

Carbon markets
MATERIAL ITY & IMP ACTERM has launched ERM Climate
Markets, a new business line designed
to help companies mitigate unabatedgreenhouse gas emissions by investing

G OVERN ANCEin impactful carbon credits thatcomplement their decarbonization

P EOP L E

action, offer social, biodiversity andeconomic benefits and accelerate the

H UMAN R I GH T S

global transition to net-zero.

CL I M AT E

The voluntary carbon market allows organizations to
mitigate their residual emissions by purchasing carbon
credits. Creating an enduring and credible approachmeans a strong focus on integrity, complementing anorganization's comprehensive approach to measuring
and reducing Scope 1, 2 and 3 emissions in line with
science. ERM Climate Markets has the capabilities
and experience to help clients on this journey.

N ATU R E
SU P PLY C H AI N

Photo credit: Matthew Loethen, United States

Sustainability Report 2024

MATERIAL TOPICS

CLIMATE103

CLIMATEOVERVIEW• Mitigation strategy development• Project feasibility assessment, design andimplementation• Enhanced due diligence• Carbon credit portfolio development• Co-benefit screening and monitoring• Environmental and social assessment and safeguards

MATERIAL TOPICS

CLIMATESU P PLY C H AI N

Sustainability Report 2024

N ATU R E

ERM will continue to work with clients at every stageof their decarbonization journeys. As carbon credit
strategies gain further momentum, ERM Climate
Markets will meet our clients' needs by providing highintegrity solutions end to end that will contribute to atransparent and credible net-zero outcome, while
supporting nature and helping to deliver a justtransition for all.

CL I M AT E

Our independent entity ERM CVS offers enhanced projectand portfolio scrutiny together with wide-ranging
assurance services, including public disclosures andassessment of project co-benefits.

H UMAN R I GH T S• Public disclosure

Photo credit: ERM

P EOP L E

• De-risking through collective investment“Carbon markets will play
an increasingly importantrole in delivering global
net-zero ambitions by 2050.
We launched ERM Climate
Markets to help our clients
minimize the impact of
their unabated emissions
by investing in bespoke,
high-quality carbon credit
portfolios that are alignedwith their short and longterm mitigation strategies”

G OVERN ANCE

• Community and stakeholder engagement

DATA

MATERIAL ITY & IMP ACT

ERM’s global technical, sectoral and geographic
capabilities give us the depth and reach to assess
integrity and de-risk the selection of projects andportfolios. Our services include:

MATERIAL TOPICS

Alex CoxHead of Climate Markets, ERM

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CLIMATEOVERVIEWOur partnerships & collaborations
collaborations that share our commitment to deliver a
net-zero future. Through these collaborations and ourthought leadership, we have the ability to create further
engagement, to decarbonize their own operations.

will be active in a number of working groups and initiatives drawing on expertise incarbon markets.
• Race to Zero is a global campaign that aims to rally leadership and support frombusinesses, cities, regions and investors for a healthy, resilient, zero-carbon
recovery. ERM is a member of the Race to Zero campaign through our own net-zerocommitment to reduce carbon emissions across our operations.
• The Task Force on Climate-related Financial Disclosures (TCFD) developed
voluntary, consistent climate-related financial risk disclosures for use by companies
and its work has been completed with the advent of the International Sustainability
Standards Board (ISSB) Standards. ERM has supported TCFD since 2018 and has
prepared our fourth annual TCFD disclosure.

SU P PLY C H AI N

• IETA is a non-profit organization representing businesses committed to smart,well-designed and effective carbon markets to help achieve the goals of the Paris
Agreement and reach net-zero emissions by 2050. ERM is a member of IETA and

Sustainability Report 2024

MATERIAL TOPICS

CLIMATEN ATU R E

• Global Renewables Alliance (GRA) - Leading industry players have united to forma unified renewable energy voice to unify the global bodies representing the clean
technologies required for a net-zero world by 2050. ERM was actively involved in the
GRA ‘Triple up, double down’ campaign for COP28 and the ‘Time4Action’ campaign
leading into COP29.

A Clear Path to Decarbonizing your Company, highlights developments that makea structured corporate approach to decarbonization more pressing than ever.

CL I M AT E

• The Climate Pledge is a call to businesses and organizations to take collective
action on the world’s greatest crisis and to work together to build towards a safeand healthy planet for the next generations. ERM was an early signatory to the
Climate Pledge.

Renewables Conundrums report series, delves into difficult problems affecting
the growth of renewables and the realization of corporate climate action.

H UMAN R I GH T S• Clean Energy Buyers Alliance (CEBA), a business association activating acommunity of energy customers and partners to deploy market and policy
solutions for a carbon-free energy system. ERM is an active member of the Alliance.

Double-edged: 5 steps to comply with CBAM and add strategic value blog series,
highlights the EU's Carbon Border Adjustment Mechanism, a border tax launchedto help tackle climate change and prevent carbon leakage.

P EOP L E

We have an extensive network of organizations with whom we collaborate to drive
forward the decarbonization agenda. Below are a few examples:

HIGHLIGHTG OVERN ANCE

impact, supporting organizations beyond our direct

DATA

MATERIAL ITY & IMP ACT

ERM is committed to supporting partnerships andThought leadership

MATERIAL TOPICS

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OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERSERM hosted and participated inseveral events and seminars at 28th
to the United Nations Framework
Convention on Climate Change,
gathered regulators, decision makers
deployment and investment as well
as how to overcome cost, technology
competitive hydrogen solutions.

CL I M AT E

and infrastructure barriers to achieve

H UMAN R I GH T S

and investors to discuss global

Watch the video here

P EOP L E

widely known as COP28. The summit

Tom Reichert, ERM Group CEO, spoke at an event
jointly organized by the International Energy
Agency (IEA) and WBCSD to find ways to address
the challenge of demand creation for low-emissionhydrogen. Based on the latest findings from the IEA’s
Global Hydrogen Review 2023 and WBCSD's sectorspecific recommendations on policy strategies to growdecarbonized hydrogen demand which was supported
by ERM, this event delved into the policy support
mechanisms that stimulate demand for low-emissionshydrogen in hard-to-abate sectors. This event brought
together high-level government representatives andindustry leaders to identify concrete recommendations
for sector-specific and cross-sector mechanisms.

ERM is working with the Hydrogen Council on an
SDG Compass to guide how hydrogen projects candeliver socio-economic benefits, alongside protecting
nature, in line with the Sustainable Development
Goals (SDGs). David Hart, has been working on the
SDG Compass and shared his impressions after
moderating a panel on the SDGs and how theyequate with the hydrogen economy.

G OVERN ANCE

meeting of the Conference of Parties

David Hart, ERM Partner and Global Hydrogen
Lead, moderated a panel on “The future is green:
Innovations making green hydrogen competitive.”
The cost of producing green hydrogen is dependent
on the price of renewable energy, the advancement ofelectrolyzer technology and the accessibility of waterfor electrolysis with this panel discussing how toaddress these issues.

DATA

MATERIAL ITY & IMP ACT

Promoting clean hydrogen at
COP28

MATERIAL TOPICSN ATU R E

An important outcome of COP28

SU P PLY C H AI N

was the launch of a suite of measures
to realize hydrogen's climate andsocio-economic benefits.
Photo credit: ERM

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CLIMATEOVERVIEW

Stepping up our impact• Increase sales supporting the low-carbon economy
transition by 20% over FY23.
• Finalize and implement ERM’s updated
decarbonization program.

The alignment of our Decarbonization Strategy to the SBTi Net-Zero Standard wasa key achievement this year, signaling to our stakeholders the credibility of ourapproach and targets. The expanded scope of emissions calculated within our Scopes
1, 2 and 3 data may have served to partially increase our reported emissions but has
also brought greater accuracy and transparency to our reporting. We remain on track
to meet our SBTi targets but also enhanced our ability to achieve this through afocus on targeted interventions which support both short and longer-term targets.
Key among these were:

H UMAN R I GH T S• Evolving our approach to data collection and verification through our own
operations to enhance the accuracy and timelineness of data provision.

CL I M AT E

• Reviewing our supporting data management systems to facilitate increased
data capture.

N ATU R E

• Working with our subject-matter experts, we refined our methodology toassessing the emissions associated with our operational activities, to reflect
evolving best practice.

SU P PLY C H AI N

• Launching a new travel policy, with additional constraints on when and how
we travel, which are consistent with our commitment to reduce our greenhousegas emissions. We view this as a partnership with our clients and wider
stakeholders, who share our decarbonization vision.
• Working with suppliers in the travel sector to identify low-carbon
alternative services.
Photo credit: ERM

Sustainability Report 2024

MATERIAL TOPICS

CLIMATEP EOP L E

ACHIEVED

During FY24, we continued to expand our services to clients in support of the
low-carbon economy transition and consolidate our share of the market for suchservices. As outlined in our CFD/TCFD disclosure, our business is predicated onproviding professional services to support our clients on their own decarbonization
pathways. We see the demand for such services as continuing to escalate and ourbusiness strategy is focused on ensuring we have the right expertise and service
offering to meet the needs of our clients.

G OVERN ANCE

• Remain on track to meet SBTi targets.

DATA

MATERIAL ITY & IMP ACTFY24 headline targets:

MATERIAL TOPICS

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CLIMATEOVERVIEW

MATERIAL TOPICSDATAMATERIAL ITY & IMP ACT

During FY25, we are stepping up to accelerate the impact we already generate
across our value chain in supporting a net-zero future.
FY25 headline target• Remain on track to meet SBTi targets for Scope 1, 2 and 3• Engage top tier of suppliers on decarbonization

G OVERN ANCE

• Increase sales supporting the low-carbon economy transition by 10% year on year.
Delivered through:• Targeted interventions to deliver further reductions in Scope 1 and 2 emissions,
including the further decarbonization of energy sources;

P EOP L E

• Further transitioning our fleet to electric and hybrid vehicles;   

H UMAN R I GH T S• Reducing our Scope 3 emissions associated with business travel throughimplementation of our new Travel Policy;  • Re-engaging our employees to understand their commuting patterns andcontinue to promote sustainable travel to and from our offices;  

CL I M AT E

• Delivering new awareness campaign and incentivise low-carbon travel;  • Engagement with the top tier of our supply chain to promote stronger climate
governance and emissions reduction targets.

N ATU R E

• We will continue to support through secondments and/or technical contributions,
the work of key organizations such as the WBCSD and TCFD.

SU P PLY C H AI N

• We will continue to support our clients in their transition to a low-carbon futureand in developing renewable energy projects and will evolve our measurementof the associated impact; and  
Photo credit: Uswah Aziz, Canada

Learn more in ERM's Decarbonization Strategy

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MATERIAL TOPICS

CLIMATE108OVERVIEW

MATERIAL TOPICSDATANatureWhy this topic is material for ERM
With six of the nine planetary boundaries now exceeded, theimportance of halting and reversing biodiversity loss by 2030,
as set out in the Global Biodiversity Framework, could not begreater. According to United Nations estimates, 2.3 billion people
now live in water-stressed countries and climate change is making
water scarcity worse, with socio-economically disadvantaged andmarginalized sections of society most impacted. The inter-related
challenge of protecting nature, addressing climate change andprotecting human rights is critical to our sustainable future.
The responsible management of nature has always informed ourconsideration of material risks and opportunities. In recognitionof the importance of managing nature-related risks andopportunities to our own operations and the importance ascribedto this by our clients and wider stakeholders, we have elevatednature to become a standalone material topic.

Towards nature positive 
Supporting our clients
Our partnerships & collaborationsStepping up our impact

110
112
123
126
Photo credit Alma Chen, Hong Kong

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NATURE109

NATUREOVERVIEW

MATERIAL TOPICS

DATA

Towards nature positive
MATERIAL ITY & IMP ACT

ERM is committed to working in
partnership with our stakeholders
towards a nature positive future andenhancing our operational approach

G OVERN ANCE

to managing our own nature-relatedrisks and opportunities.

P EOP L E

During FY24, we assessed the nature-related risks andopportunities arising from our operations, to further
our understanding, governance and management of
nature. The assessment identified our client work andour supply chain management as the two key areas
where we can make the most impactful contributions
towards a nature positive future.  We will, however, also
continue to capitalize upon opportunities to enhancenature-related impacts through our direct operations.

HUMA N R I G H TS
CLI M AT E

Impact through the ERM Foundation

NATU R E

Photo credit: Patrick Ross, United States

HIGHLIGHT

SUP P LY CHA I N

During FY24, the ERM Foundation supported 39 nature related projects across 22 countries, contributing to
SDGs 13 (climate action), 14 (life below water) and 15 (life on land). Through grant funding, technical pro bono
support, and community volunteering, ERM employees supported the planting of more than 35,000 samplings,
and the restoration, protection or reforestation of over 9,000 hectares.

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NATURE110

NATUREOVERVIEW

MATERIAL TOPICSDATA

Our people
MATERIAL ITY & IMP ACTOne of the most impactful ways we can contribute to a nature-positive future,is through our people. With over 800 subject matter experts (SMEs) in nature,comprising 10% of our total employees, we have a strength and depth of expertise
which is leveraged to support our clients across the globe but also our own operational
management. Our subject matter experts inform our nature operational programand priorities and are active within their own offices supporting local initiatives.
Their expertise is also vital to the work of the ERM Foundation, through which our
passionate teams provide pro bono and volunteering support to organizations working
across the globe to restore habitats and biodiversity and contribute towards a nature
positive future.

G OVERN ANCEP EOP L E

Our offices

HUMA N R I G H TS

While our own direct operational footprint is principally limited to the offices welease, we will continue to proactively enhance the sustainability of our own offices
and how our employees travel to, from and operate within these offices, recognizing
the impact that pollution has on habitats. This forms part of our ongoing office
optimization plans and climate operational program.
Our supply chain

MATERIAL TOPICS

NATUREERM is a supporter of Business for Nature’s Now for Nature global campaign tobring together businesses to contribute to the 2030 goal of a nature-positive world.
ERM’s new Nature Strategy was developed consistent with the Now for Nature
guidance and will use it to continue to develop our evolving strategic response
to nature.  

SUP P LY CHA I N

Sustainability Report 2024

HIGHLIGHT

NATU R E

Further information on our approach to sustainable supply chain management
is included in the “Supply Chain” section of this report and ERM’s Sustainable
Supply Chain Strategy.   

Now for Nature

CLI M AT E

Our supply chain comprises thousands of companies and entities who support thedelivery of our services in countries across the globe. Supporting our suppliers tosustainably manage their own operations and specifically their impacts on nature
is a priority for ERM. We will engage with those suppliers who provide us services
that have the greatest nature-related impacts, such as those involved in our site
investigation and remediation work.

Photo credit: Will France, United Kingdom

For further details on our approach to nature management, see our Nature Strategy.

111

NATUREOVERVIEW

Supporting our clientsDATA

the organization’s objectives and identify their own
business resiliency and value creation levers.  

NATURESUP P LY CHA I N

MATERIAL TOPICS

NATU R E• Performance monitoring: Having the right processes,
systems and data asset to manage material risks,monitor performance and understand how value
chain stakeholders can both contribute to achieving• Partnerships: Identifying and deploying theopportunities in partnerships across the corporate
value chain to build a more equitable, climate
resilient and biodiversity-abundant world.   

CLI M AT E

• Governance: Ensuring senior buy-in and strong
multilevel governance around the company’s
integrated nature programs, including incentives inplace to drive a culture of sustainability, transparency
and collaborative partnerships with local communities
and stakeholders.  

HUMA N R I G H TS

• Strategic direction: Setting clear commitments andintegrating nature into an actionable strategy for theorganization to manage material risks and generatebusiness value throughout the value chain, while
positively contributing to a just transition and nature
positive outcomes.  

• Transparency: Establishing ambition, targets
and metrics, reporting and disclosure in alignment
with TNFD; the Global Reporting Initiative (GRI),
CDP, European Union (EU) Corporate Sustainability
Reporting Directive (CSRD) and emerging regulations
around the globe while strengthening stakeholder
engagement.  

P EOP L E

ERM works with clients across sectors to help develop:  • Business model transformation and resilience:
Readiness to adapt the business to important
regulatory shifts and market trends (e.g., transition
to a low-carbon economy and Taskforce for Naturerelated Financial Disclosures [TNFD], among others)
ensuring it is positioned for sustainable growth andaccess to capital over the long term.  

G OVERN ANCEIn response to emerging science, regulations, market
competition and investor or stakeholder pressures,companies need to develop credible, inclusive andtransparent nature-related strategies. ERM helps clientsto assess their nature impacts and dependencies, risks
and opportunities and set baselines measuring thecurrent state of nature. This enables clients to definetargets, commitments and actions based on appropriate
metrics, in line with the latest disclosure requirements.  

MATERIAL ITY & IMP ACTNature strategy & disclosure

Sustainability Report 2024

MATERIAL TOPICS

Photo credit: Amanda Resmana, Indonesia

112

OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERSERM led a series of workshops withsponsored by the Global Accounting
Alliance, which affirmed the need for(CNCA) and the central role thatdeveloping and implementing it.
The workshops also identified a range

NATU R E

developments to advance CNCA.

SUP P LY CHA I N

The workshop results were the basis for a recent
report by the Global Accounting Alliance (GAA),
which highlights the importance of CNCA in helping
businesses build resilience and value through naturepositive action and how accountants are well-placed
to help drive uptake of CNCA across the market.

John Finisdore
Consultant, ERM
Photo credit: Maren Steinkemper, United Kingdom

Sustainability Report 2024

MATERIAL TOPICS

NATURE

CLI M AT E

of opportunities, roadblocks and

HUMA N R I G H TS

the accounting profession has in

P EOP L E

corporate natural capital accounting

ERM consultant John Finisdore, a member of thereport team and leader of the workshops, recently
published a related article with colleagues at
Pollination, Taskforce for Nature-related Disclosures,
US Geological Survey, Yale University and others on
the importance of CNCA and how data from corporate
and national accounting complement one another.

“This project underscoredimportant recommendations
to advance CNCA bybuilding internal corporate
capacity, understanding theinterplay between public
and private natural capital
accounting, reducing the costof information supply anddetermining the information
technology requirements.”

G OVERN ANCE

participants from around the globe,

The workshop and report was led by ERM withsupport from the Biodiversity Footprint Company,
IDEEA Group, and eftec. The team previously authored
the working paper, Time to Take Stock, which proposed
what a standardized CNCA approach might entail inpractice and identified gaps to be addressed.

DATA

MATERIAL ITY & IMP ACT

Helping businesses build
resilience & value throughnature-positive action

MATERIAL TOPICS

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OVERVIEW

CASE STUDY: CLIENTERM helped Engie apply the Locate,
Evaluate, Assess, Prepare (LEAP)
is now among the first five companies
whose strategies have been reviewed
Nature,” a joint global campaign to
on nature and contribute towards
a nature-positive world by 2030.

SUP P LY CHA I N

MATERIAL TOPICS

NATURENATU R E

Elsa Favrot – Monier
Head of ESG in business, ENGIE

Photo credit: Mariapaz Orsini, Colombia

Sustainability Report 2024

CLI M AT E

world by providing Engie with recommendations fornature-related disclosures on governance, strategy,
risk and impact management, and metrics and targets
to align with TNFD, CSRD and ESRS.  

HUMA N R I G H TS

bring together all businesses to act

P EOP L E

and accepted as part of “It’s Now for“I would like to take thisopportunity to thank the
IUCN French Committee
To start the process, ERM conducted benchmarking anda gap analysis to identify the company’s strengths andforits
supportsince
theareas for improvement. Building on this analysis, wefollowed the LEAP approach to comply with guidance
beginningofthejourney,
from TNFD and facilitate reporting according to theEuropean Sustainability Reporting Standards (ESRS)theNatureERM
consultancy
as required by CSRD. Our approach encompassed:  
team for the impressive• Identifying and prioritizing Engie’s sites forbiodiversity and water stress;  
work
they
have
done
with
• Evaluating the impacts and dependencies ofEngie’s global biodiversity footprint;  
us, and the act4nature• Assessing the risks and opportunities, includinginternational initiative
level of maturity, priority for the company,
recommended actions and timeframe; and  
andits
steering
committee• Preparing Engie for responding to future naturerelated challenges.  
as a dynamic andAs part of this engagement, we supported Engie’s
powerful catalyst.”
leadership in global efforts towards a nature-positive
From 2021, Engie worked on an analysis of its impacts,
dependencies, risks and opportunities for each of its
global business units (BUs). In 2023, with the supportof ERM, the company enhanced this analysis using
the LEAP methodology.   

G OVERN ANCE

approach to its nature strategy. EngieDATAMATERIAL ITY & IMP ACT

Helping Engie apply the LEAP
approach to its nature strategy

MATERIAL TOPICS

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NATUREOVERVIEW

Natural climate solutions

SUP P LY CHA I N

NATURE

Matt Haddon
Global Leader for Biodiversity, Water & Nature, ERM

NATU R E

MATERIAL TOPICS

CLI M AT E

Sustainability Report 2024

• Communicate and disclose: Monitor and adaptively
manage socio-ecological landscapes at an appropriate
scale and frequency; report progress towards goals
and communicate with stakeholders; validate andverify the benefits of natural climate solution project
implementation; and align reporting with major
global and regional standards.

HUMA N R I G H TS

ERM is an accredited auditor across several verification
services and a regular expert reviewer of national
GHG inventories. Our certified International Union forConservation of Nature (IUCN) Nature-based Solution
Global Standards professionals excel at amplifying
benefits beyond carbon.  

• Transport and deliver: Avoid and reduce negative
impacts to biodiversity across the value chain; protect,sustainably manage, and restore natural and modified
environments within and beyond the value chain;
ensure projects adhere to market standards for highquality; and leverage advanced technologies to design,deliver, and monitor natural climate solutions.  

P EOP L E

ERM’s depth of experience, market knowledge andglobal network of SMEs allows us to lead at all stagesof the natural climate solutions workflow.

• Commit: Set science-based targets for climate
and nature in alignment with leading guidance andframeworks; explore and conduct interdisciplinary
due diligence on partnership and investment
opportunities (e.g., natural climate solutions
offsets and providers); and make meaningful andinformed commitments.  

“We are at a pivotal
moment as major
corporations confront the
triple threat of climatechange, loss of natureand scarcity of water.
The interconnected crisesof nature and water are
hyperlocal, complex andarguably even moreurgent issues to tackle.”

G OVERN ANCE

By embedding nature in corporate strategy andleveraging nature-based carbon opportunities,
clients can drive commercial value, enhance theirenvironmental, social and governance (ESG)
performance, align operations with global targets andinvestor expectations, reduce reputational and climate
risk, and emerge as environmental and social leadersin an evolving yet competitive marketplace.

• Assess and advise: Develop corporate goals to alignwith climate, biodiversity, ESG, and sustainability
objectives; identify nature-driven opportunities
based on market and global priorities, upstream anddownstream impacts; and collect and assess a baseline
to understand nature-related risks and dependencies.  

DATA

MATERIAL ITY & IMP ACTCompanies with ambitious climate and nature goals
are financing natural climate solutions to mitigate andremove greenhouse gas (GHG) emissions. Our climate
and nature experts offer a holistic and interdisciplinary
approach to natural climate solutions throughout allstages of the carbon credit life cycle. From due diligencethrough to project development, including feasibility,
design, and implementation, we aim to enhance carbon
credit integrity and beyond-carbon benefits, such as
positive impacts to biodiversity and communities.  

We work with our clients to ensure their natural climate
solution projects are scalable, accredited and provide
biodiversity and corporate value. Our approach includes:  

MATERIAL TOPICS

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OVERVIEW

CASE STUDY: CLIENT

As a founding partner of the
1t.org Pledge, Salesforce set a goal toreforestation of 100 million trees by theend of 2030 to help mitigate climate

HUMA N R I G H TS

This pledge fits under the umbrella of Salesforce’s
Nature Positive Strategy, which outlines the specificactions the company will take to accelerate its existingcommitment to a net-zero, nature-positive future
rooted in people and climate justice.   

ERM uses an integrated approach to support its
clients in assessing nature investments, especiallyin complex environments where standard methods
may not work, for example in remote or less developed
settings where data and human capacity may belimited. The use of a combination of methods andtools can produce robust results quickly for our clients.

P EOP L E

change, improve livelihoods and more.   

Some nature-based solutions create unintended
negative effects on local communities. The impact
framework is crucial to measuring and assessing
both positive and negative potential impacts oncommunities by evaluating economic livelihoodcomponents in the design and implementation ofreforestation programs.  

G OVERN ANCE

fund the conservation, restoration and

DATA

MATERIAL ITY & IMP ACT

Salesforce’s Nature Positive
Strategy

MATERIAL TOPICS

CLI M AT E

Salesforce engaged ERM to validate Salesforce’s 100
million tree investments and assess its environmental
and social impact. Through satellite imagery, ERM
verified the number of trees planted across complex
mixed-use agricultural and forested landscapes.   

NATU R E
SUP P LY CHA I N

To assess environmental and social impact,
ERM employed an impact framework that ERM
developed to help companies align their programswith global best practices on nature restoration andcommunity protection.  
Photo credit: Salesforce

Sustainability Report 2024

MATERIAL TOPICS

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NATUREOVERVIEW

MATERIAL TOPICS

DATA

Liability portfolio management andremediation services
MATERIAL ITY & IMP ACT

NATURE117

SUP P LY CHA I N

MATERIAL TOPICS

NATU R E

Sustainability Report 2024

Lotte Leclezio
Consultant, ERM

CLI M AT E

The Global Biodiversity Framework has a number of2030 targets that speak to reduction in pollution, andreturning lands, green spaces and waterways for humanwellbeing and biodiversity. This includes Target 7 Reduce
Pollution to Levels That Are Not Harmful to Biodiversity.

“As a consultant working in liability portfolio management
and remediation services, it’s important to see that our
Remediation Management is contributing positively tosustainability. Quantifying our impact allows us tounderstand how our day-to-day work with clients has acollective impact and delivers social value. These results
are incredibly motivating and encourages us to continue
to use our extensive knowledge for innovative solutions.”

HUMA N R I G H TS

The impact of our liability portfolio management
and remediation services in FY24

Photo credit: Lucca Kallenberger, Switzerland

P EOP L E

ERM has successfully applied sustainable remediation
practices at sites across the world. Collectively, themanagement of portfolios of contaminated sites canhave a significant influence in terms of a number ofsustainability indicators. Increasingly clients are using
the benefits of big data management and visualization
techniques to track key metrics for managing theirremediation portfolios. Sustainability indicators canbe integrated into these dashboards to feed back into
overall company performance, to identify opportunities
to improve performance and maximize sustainability
gains for the benefit of the business.

G OVERN ANCEERM supports clients across the full life cycle of theirportfolio management, from strategic and technicaladvice through to investigation, remediation, anddecommissioning of individual sites. We use best-fit
technical methods and teams, digital applications andstrategic approaches to identify, assess and deliver
the desired outcomes while minimizing risk andmaximizing asset value.

NATUREOVERVIEW• Improved outcomes for nature and communities- reducing environmental impacts from pollution,
creating biodiversity net gain, improving water
quality and resilience; andliters of water treated

280+ thousand
cubic metres of soil treated

CONTRIBUTING TO

The removal of

12.8+ million
kg of contaminants
RESULTING IN

SUP P LY CHA I N

NATURE

2.4+ billion

NATU R E

MATERIAL TOPICS

CONTRIBUTING TO

CLI M AT E

For a selection of active liability portfolio management
and remediation projects, we track key metrics tounderstand the impacts of our work with clients, which
in turn contribute to meeting their business and wider
societal goals. Selected project teams will be working
with clients in the coming year to further develop the
impact approach, in order to apply these insights tocomplex, long-term assignments.

Projects

HUMA N R I G H TS

• Management of financial obligations - honoring
asset retirement obligations results, reducing
corporate reputation risk, positively impacting
the company bottom line in turn creating
shareholder value.

20 hectares*In FY24, the projects included in our assessment returned a lower amount of land
remediated for beneficial use than in FY23 due to the life cycle of this cohort ofprojects ie the projects were at an earlier stage of the project life cycle.

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• Repurposing of assets to new beneficial uses –enabling communities to access productive landfor housing, open space, and other uses.

P EOP L E

Companies are challenging liability portfolio
management and remediation service providers
to incorporate nature-based solutions, sustainable
remediation approaches, and creative land reuse
where viable to minimize application of physical/
removal remedial technologies. They are willing toinvest in more rigorous studies to support the designof the most optimal remedy or remedial strategy tolessen application of physical remedy implementation.

FY24 remediation project delivery

G OVERN ANCEThe remediation industry has been changing rapidly
in recent years with merging contaminants, newregulations, and complex and potentially diverging
interests from stakeholder groups. Environmental
liabilities are a part of almost every company’s asset
portfolio and balance sheet. The regulatory, technicaland social complexities of identifying, assessing,
remedying and managing liabilities associated withsite investigation; remediation; and decommissioning,decontamination and demolition create an opportunity
to identify value and reduce risk.

Through working with companies to addressthese liabilities, ERM helps deliver the following
societal value:

DATA

MATERIAL ITY & IMP ACTLast year, we initiated reporting on the impact of ourliability portfolio management and remediation services
and we have continued to evolve our approach this year.
At any time, ERM is working on approximately 3,000
liability portfolio management and remediation projects
and most are multi-phase, multi-year large projects.

MATERIAL TOPICSof land remediated for beneficial use*.

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OVERVIEW

CASE STUDY: CLIENT

A confidential client owns a former• Decommissioning the site’s multi-phaseextraction system;

paint manufacturing facility infrom the early 1900s until it was
decommissioned in the 2010s. After
subject to New Jersey’s Industrial Siteof facilities with specific industrial
classifications to investigate andor is sold. In addition, the site had acase related to a 1981 leak from anunderground aromatic solvent pipeline.

MATERIAL TOPICS

NATURESUP P LY CHA I N

light non-aqueous phase liquid spill

Based on the on-site soil remediation, the facility is
anticipated to be returned to beneficial use for thecommunity in the near future.

NATU R E

when the business ceases operations

CLI M AT E

remediate prior to property transfers

By using in-situ stabilization instead of digging
and hauling soil off-site to remediate the impacted
portions of the facility, ERM helped the client reduce
its contribution to landfills by 89%. Approximately
2,900 cubic yards of nonhazardous soil was shipped
offsite compared to a projected 25,100 cubic yards
through the dig and haul method, much of which
would have been classified as hazardous.

HUMA N R I G H TS

Recovery Act, which requires owners• Implementing in-situ stabilization of several acresof soil with hazardous lead concentrations, paintand coal tar.

P EOP L E

operations ceased, the site became• Installing a groundwater recovery trench andan updated treatment system along the siteboundary; and“Despite the project's
complexities, we designed
and implemented anin-situ remedial closure
strategy that minimized
waste landfilling and its
associated carbon footprint,
while restoring the site
for potential use within
the community.”G OVERN ANCE

the United States that operated

Sustainability Report 2024

The client retained ERM in 2017 to expedite thepath to closure of both cases in accordance with
New Jersey state regulations. Using our technicalexpertise from across ERM, we developed a closure
strategy that included:

DATA

MATERIAL ITY & IMP ACT

On-site remediation of former
paint manufacturing site

MATERIAL TOPICS

Marc Carver
Partner, ERM

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Water management services

MATERIAL TOPICSDATA

ERM brings strategic and technical expertise to help
our clients understand and manage water risks and water
sustainability. We partner with our clients to understand:   Reducing reputational and regulatory risk
• The breadth of interactions their operations havewith water resources, both direct and indirect;  

Sustainability Report 2024

MATERIAL TOPICS

NATURESUP P LY CHA I N

Photo credit: Jonathan Ung, United States

In response, we have worked with our water technicalcommunity to develop our new impact measurement
approach to water stewardship. In the past year, ERM
has worked on 81 sites in 21 out of 100 of the priority
water-stressed basins to address water risks forbusiness and surrounding communities.

NATU R E

ERM works with clients to understand, quantify
and address water-related risks across all areas of theorganization, from planning a new project to optimizing
operations or increasing productivity at existing
facilities.  We help clients integrate the technicaland operational aspects of water management into
an organization’s strategy and business operations,

CLI M AT E

A strategic approach to water

Water is life, and it is estimated that by 2030, we
will have only half the amount of water we need. The
UN Global Compact and the Water Resilience Coalition
have set an Ambition for 2030 to achieve positive water
impact in over 100 water-stressed basins that support
over 3 billion people.

HUMA N R I G H TS

Our industry-leading experts deploy a broad rangeof tools, from high-level maturity assessments to risk
screening that can identify the full range of water risks.
We construct detailed models around coupled watershed
and receiving waterbody systems. We use fit-for-purpose
models to compare outcomes for multiple mitigation
strategies. This integrated approach to water management
differentiates our water services capabilities from otherwater and environmental consultancies.

P EOP L E

• How local communities use and value water,
including cultural and ethical relationships
with water.  

G OVERN ANCE

• How the sustainability and profitability of theiroperations are impacted by, and can influence,
the available water resources; and  

In addition to helping companies meet regulatory
requirements and increasingly stringent pollutant
discharge criteria, ERM’s technical support and rigorous
methodology helps our clients ensure the quality andlongevity of water resources for both their own needs
and those of the wider community. We apply a deep
understanding of water issues to help companies
improve operations, reduce water use, control costs
and ensure compliance. By taking a strategic approach
to water management, organizations can ensure
continuity of operations in the face of supply
challenges while safeguarding their reputationand competitive advantage.  

MATERIAL ITY & IMP ACT

allowing risk management to occur as an integrated
part of normal business operation rather than as a
disconnected process.

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NATUREOVERVIEW

NATUREof sites are facing risks
to water quantity
ERM HAS WORKED WITH

37

projects
on waterstewardship

59

SUP P LY CHA I N

MATERIAL TOPICS

83%

NATU R E

Sustainability Report 2024of the 100
prioritybasins

CLI M AT E

Photo credit: Samantha Sherman, Canada

sites
located ina priority
basin

21

HUMA N R I G H TS

This is the first year we have reported our water
stewardship impact approach, and we will continue
to enhance our methodologies and engagement withclients and wider stakeholders to demonstrate ourcontribution to the 2030 and 2050 commitments of
the Water Resilience Coalition.

81

in

P EOP L E

We found that 37 of our projects across 59 sites inthese priority basins focused on strategies andpractical measures to create positive impacts for thesites and the surrounding communities and wider
economy. This included improvements in water
quality, implementation of water efficiency measures,
robust data capture and analysis to provide a basis forenhanced decision making and identifying alternative
sources of water.

Water project delivery

G OVERN ANCEThe water needs of the communities in and aroundthe sites we have assessed have not always been taken
into consideration, which is why we are focused on awater stewardship approach that includes the physical,
social and governance aspects to understand theinterconnected and complex factors that contributeto water stress.

DATA

MATERIAL ITY & IMP ACTGlobally, sufficient volumes of good quality water forbusiness’ operations are becoming increasingly scarce,
while extreme weather events such as flooding are also
increasing.  Through our assessment of water challenges
using our Water Intelligence Platform and ERM Basintools, we have identified that 83% of the priority basins
we worked in over the past year are facing water scarcity
challenges at a concerning level.

MATERIAL TOPICS

sites toimprovewater
efficiency

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OVERVIEW

CASE STUDY: CLIENTQUEST project
concern for a confidential aerospaceclient, the availability of water forbusiness continuity.

NATU R E
SUP P LY CHA I N

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MATERIAL TOPICS

NATURE

CLI M AT E

Peter Flaherty
Director, ERM

Photo credit: Efren Aviles, Mexico

HUMA N R I G H TS

Additionally, ERM reviewed the water management
practices at each of the 14 sites and shared bestpractices related to metering and data management,
industrial equipment consumption and processes,
domestic consumption and ancillary water uses.  

P EOP L E

We proposed a range of opportunities to reduce
annual water consumption such as harvesting
rainwater; improving management of irrigation
systems and sanitary facilities; reusing fire-fighting
water; recovering heating, ventilation, and air
conditioning and humidification condensate;
detecting and eliminating leaks; improving restaurant
equipment; and optimizing water softeners, filtration
systems and cooling towers.  

“ERM has developed
QUEST, our methodology
for resource efficiency andsavings. It's used to identify
low-cost and no-cost
improvements that canbe implemented quickly.
In some cases, savings from
implementing these measures
can fund investment grade
projects for a virtuous circle
of continuous improvement.”

G OVERN ANCE

industrial processes is crucial for

ERM performed an in-depth assessment of water
management at these sites, applying our proprietary
QUEST methodology to evaluate current watersupplies, alternative sources, end-use consumption,
reuse options and other water-saving opportunities.
We also calculated water supply costs and financial
returns for each identified opportunity.  

DATA

MATERIAL ITY & IMP ACT

While water costs are not a major

The client engaged ERM as a trusted partner to
conduct studies at 14 sites, which account for nearly
70% of the company's 2023 water withdrawal, to assess
their water management maturity and identify
opportunities to reduce withdrawals.   

MATERIAL TOPICS

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MATERIAL TOPICSDATA

Our partnerships & collaborations
MATERIAL ITY & IMP ACT

ERM is collaborating with organizations across the globe to promote actions towards
a nature positive future. Examples of these collaborations include:

Cemex zero freshwater & zero discharge framework
Cemex is working with ERM to develop a global zero freshwater and zero
discharge framework and an associated measurement protocol for the company's
cement, concrete, aggregate and construction materials businesses. The client will
use these documents to assess and communicate, in a transparent and accurate
manner, the progress made in replacing withdrawn freshwater with alternative
sources and reducing wastewater discharge.

CLI M AT E
NATU R E

ERM conducted research on existing best practices to help inform the developmentof the framework and protocol. Once the documents were finalized, we conductedverification assessments to determine the level of compliance across six pilot sites.

SUP P LY CHA I N• The TNFD Forum is a global multi-disciplinary consultative group of over 1,000
institutions, which supports the Taskforce on Nature-related Financial Disclosures.
ERM is a member of the TNFD Forum and an early adopter and has supported thepiloting of TNFD with energy companies through the World Business Council for
Sustainable Development (WBCSD).

Photo credit: Patrick Ross, United States

HUMA N R I G H TS

• Science Based Targets for Nature were released in 2023 by the Science Based
Targets Network, creating the first corporate science-based target setting methods
for nature. ERM is a member of the Corporate Engagement Program and memberof the Referral Program.  

P EOP L E

• Nature Tech Alliance is a partnership of Salesforce, NatureMetrics, Planet andERM supporting businesses to understand the impact of their business on natureand report in line with new and impending nature regulations and frameworks
such as CSRD and TNFD.

G OVERN ANCE• Natural Climate Solutions Alliance is focused on enabling natural climate
solutions, including biodiversity and forest loss, land degradation, sustainable
water management and sustainable community livelihoods. ERM is a memberof this multi-stakeholder alliance and has spoken on a number of platforms in thelast year on the importance of high integrity, high-quality natural climate solutions
carbon credits. We have co-authored the Investor Guide to the Voluntary Carbon
Markets aimed a mobilizing capital for high-integrity projects.  

For Cemex, a global construction materials company based in Mexico, theincreased utilization of non-freshwater throughout its operations is a material
topic. The client is now well prepared to meet the requirements of the framework
and achieve the goal of zero freshwater and zero discharge.

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MATERIAL TOPICS

NATURE123NATUREOVERVIEW

MATERIAL TOPICS

DATA

Wider organizations we support, include:  
MATERIAL ITY & IMP ACT• Business for Nature supporter;  • Nature Positive supporter;   • United Nations Sustainable Ocean Principles signatory;  • Alliance for Water Stewardship member;  

G OVERN ANCE

• GHG Protocol Land Sector and Removals Guidance pilot testing supporting
partner and technical working group member; and• UK Business & Biodiversity Forum steering committee member.  

P EOP L E

In line with our purpose and to maximize the impact we can generate to supportinga nature positive future, we have delivered thought leadership on nature throughpublications such as:

HUMA N R I G H TS

• Prepare to LEAP: Updates to the TNFD framework and planning for the future,
explores the nature-related landscape with a focus on the TNFD.  
• The Nature Agenda: A view from the frontlines of TNFD piloting, provides insightsfrom working in-house to support WBCSD with its TNFD pilot program.

CLI M AT E

• Accounting for Nature: Preparing for tomorrow’s nature accounting needs today,
explores how natural capital accounting can help companies measure the stateof nature and manage nature-related risks and opportunities.

NATU R E
SUP P LY CHA I N

Photo credit: Christine Davis, United States

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MATERIAL TOPICS

NATURE

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OVERVIEW

CASE STUDY: CLIENTERM and Planet collaborate
to harness satellite data toenhance decision-making

MATERIAL TOPICS

DATA“Planet's cutting-edge
technology, combinedwith ERM’s advanced• Identifying optimal locations, determining
viability and monitoring nature-based solutions
remote sensing expertise
implementation for carbon offsets and removal;
and sustainability advisory• Planet imagery is integral to evaluating the stateof nature and supports ERM’s work measuring
capabilities,
will
enhancebiodiversity-related impacts from corporate assets
and supply chains as part of voluntary reporting for
ourabilitytodeliver
CDP and TNFD;
impactful outcomes• ERM uses Planet imagery to optimize project locationand design by measuring potential impacts on society
for our clients.”
and the environment, in line with International

During FY24, ERM established aprovides global, near-daily satellite
imagery and Earthdata.  

G OVERN ANCE

new partnership with Planet, which

MATERIAL ITY & IMP ACT

By linking satellite imagery and insights, thepartnership between ERM and Planet accelerates
data driven decision-making to inform corporate
sustainability strategies, management systems anddisclosure through:P EOP L E
HUMA N R I G H TS

Finance Corporation Performance Standards; and

CLI M AT E

• In conjunction with ERM’s expertise integrating
insights from satellite monitoring, Planet’s nearreal-time imagery helps ensure construction crews
avoid sensitive and protected landscapes.

NATU R E
SUP P LY CHA I N

Doug Park
Global Partnership Director, ERM© Copyright 2024 Planet Labs PBC • All Rights Reserved.

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NATUREOVERVIEW

MATERIAL TOPICSDATAStepping up our impact
MATERIAL ITY & IMP ACTFY24 headline target:• Finalize and implement ERM’s updated nature program
ACHIEVEDG OVERN ANCEP EOP L E

During FY24, we established a new operational program focused on nature, which
provides the framework for managing nature-related risks and opportunities arisingfrom our operations. The central objective of this program is to maximize the positive
impact we can create across our value chain. The program has been informed by the
inputs of our subject matter experts and our vision and key objectives are set out in
our Nature Strategy, supported by our Global Biodiversity Policy. Key areas of focus
during FY24 included:

HUMA N R I G H TS

• Undertaking a high-level nature-related materiality assessment to identify
key areas of our value chain where we can create impact;

CLI M AT E

• Extensively reviewed our key service lines to identify and measure the natureand scale of our impact through client projects;• Reinforced our contribution to thought leadership through publications andparticipation in multiple collaborations; andNATU R E• Reviewed our nature services and expanded our advisory support to clientsin line with identified need;Photo credit: Marco Ruffoni, Italy

SUP P LY CHA I N• Increased our visibility of our supply chain and areas of nature-related impact
to support the roll out of our supplier engagement program in FY25.

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NATUREOVERVIEW

MATERIAL TOPICSDATAMATERIAL ITY & IMP ACTFY24 supplementary targets:• Complete the “assess” element of TNFD analysis for ERM, including throughour supply chain• Integrate nature and ERM’s biodiversity policy into ERM’s supplier

G OVERN ANCE

engagement program• Work with our larger clients and projects to adopt nature-positive solutions
using ERM tools and action plan processes to achieve nature-positive outcomes.

P EOP L E

• Integrate nature criteria into ERM’s risk management process and involve our
nature subject matter experts in the consideration of how to address biodiversity• Continue to evolve our consideration of biodiversity in the PLAN process,

HUMA N R I G H TS

risks in clients and project opportunity response

Photo credit: Phuong Uyen Nguyen, Vietnam

including through the development of guidance to ERM’s Partners and Project

CLI M AT E

Managers on biodiversity considerations• Pilot aquatic management program under our commitment to the UN

NATU R E

Sustainable Ocean Principles• Looking at any evolution of ERM’s biodiversity impact assessment standard

SUP P LY CHA I N

as required to align with the Global Biodiversity Framework (GBF).
ACHIEVED & ONGOING

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MATERIAL TOPICS

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NATUREOVERVIEW

MATERIAL TOPICS

FY25 headline targets• Nature Strategy as part of ERM’s Sustainability Program.

• Publish TNFD disclosure• Evolve pollution impact metric of land remediated for beneficial use and• Engage top tier of suppliers on naturedevelop additional nature-related impact metrics.
• Hold at least two internal training sessions to raise awareness for employees• Pilot project with at least one NGO focused on rewilding.
thought leadership (TNFD, WBCSD etc.) and contribute to at least one globally• Establish our TNFD Working Group and publish
our first report;  

HUMA N R I G H TS

recognized initiative.

P EOP L E

• Collaborate on at least three initiatives related to biodiversity through• Continuing to evolve our consideration of naturerelated risks and opportunities through our double
materiality assessment process;  • Improve the collection of data on governanceand performance around nature within our
supply chain;  

ACHIEVED

for office refurbishment and new office leases
ONGOING• Continue to support clients in development of
their own strategic responses; and  

NATU R E• Report annually on progress against commitments in ERM’s Sustainability Report• Enhance our assessment of nature-related impacts
across our service lines;  

CLI M AT E

• Update ERM’s Green Building Guidelines to integrate biodiversity opportunities• Further support nature partnerships andcollaborations to deliver wider societal impact.

SUP P LY CHA I N

Learn more in ERM's Nature Strategy

Sustainability Report 2024

MATERIAL TOPICS

NATUREG OVERN ANCEon ERM’s nature program and services for clients.

During FY25, we will be stepping up our work towards
nature-positive delivery under the framework of our
Nature Strategy, looking to generate positive impact
across our value chain. This will involve:  

MATERIAL ITY & IMP ACT• Finalize and implement updated

DATA

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OVERVIEW

MATERIAL TOPICS

DATA

Supply Chain
Why this topic is material for ERM
The nature of ERM’s business as a professional services company
means that we subcontract services to support the delivery of ourwork and procure goods and services to support our operations.
Our supply chain is diverse, spanning the breadth of our global
offices and countries within which we deliver our services.
In line with our purpose, we seek to work with those organizations
who share our values and commitment to shape a sustainable
future. ERM like many companies, is engaging our supply chain
to support the delivery of our sustainability operational programs
such as decarbonization, reflecting the key role which it assumes
in delivery of our strategy and targets.
While the issue of supply chain has informed our material topics,
this year we have decided to make supply chain a standalone
key material topic, in recognition of the increasing importanceit assumes for us as a business, and to our stakeholders.

Supply chain governance
Decarbonizing our supply chain
Human rights performance
Client services
Stepping up our impact

130
132
134
136
139
Photo credit: Liza Acevedo, Colombia

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SUPPLY CHAIN

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SUPPLY CHAINOVERVIEW

MATERIAL TOPICS

DATA

Supply chain governance
MATERIAL ITY & IMP ACT

ERM and companies around theglobe face increasing expectations
for accountability, transparency anddisclosure of supply chain impacts

G OVERN ANCE

from investors, clients and regulators.
For example, the EU Corporate

P EO P L E

Sustainability Due Diligence Directive(CSDDD) establishes a legal framework

H UMAN R I GH T S

that requires companies, including
ERM, to identify, prevent, eliminate
or mitigate the adverse impacts of

CL I MAT E

our operations and supply chains onhuman rights and the environment.

NAT UR E
S U PPLY CHA I N

Photo credit: Hanh Nguyen, Vietnam

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SUPPLY CHAIN

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SUPPLY CHAINOVERVIEW

MATERIAL TOPICS

DATA

Sustainable Supply Chain Management is one of our key sustainability operational
programs which delivers upon our new Sustainable Supply Chain Strategy.

Remediation
mechanisms

Systems

P EO P L E

Supply chain
management

H UMAN R I GH T S
CL I MAT E

Engagement
and capacity
building

Annualreporting andaudit

NAT UR E
S U PPLY CHA I N

ERM requires potential suppliers to outline their current sustainability governanceand performance in key areas such as decarbonization and human rights. If suppliers
are successful during our procurement process, they must adhere to our Sustainable
Procurement Policy and commit to reporting on their sustainability performance.

Governance

G OVERN ANCEThe Supplier Code sets out the principles and standards of conduct that ERM expectsof any person or entity who provides goods or services to ERM. Just as our Code ofBusiness Conduct applies to all employees, our Supplier Code applies to all personnel
and entities in our supply chain. A core expectation and requirement of being a
supplier to ERM is that all ERM-related tasks should be performed by individuals
with the skills,expertise, qualifications and behaviors necessary to uphold theprinciples and meet the standards of our Supplier Code. Accordingly, suppliers shallensure that the Supplier Code is shared with and followed by all of its workforce andany entities in its supply chain who are assigned to perform services or supply goods
or materials to ERM.

MATERIAL ITY & IMP ACT

ERM requires our supply chain to act in accordance with our principles and policies,
and support the delivery of our key strategic commitments, from adhering to ourBusiness Code of Conduct to decarbonization. In selecting suppliers, ERM is committed
to choose reputable business partners who share our commitment to ethical standards
and business practices. Our updated Supplier Code of Business Conduct and Ethics
sets out specific global requirements for suppliers and subcontractors as part of our
supply chain process, with explicit requirements in relation to health and safety,
environmental leadership and sustainability, business conduct and integrity, humanrights, confidentiality and data privacy, raising concerns and compliance.

ESG
due diligence

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MATERIAL TOPICS

DATA

Decarbonizing our supply chain
MATERIAL ITY & IMP ACTSupply chain management is a critical element of our
Decarbonization Strategy. Purchased goods and services
account for 52% of our Scope 3 emissions, with 90% of
these emissions originating from our subcontractors.

G OVERN ANCE

Addressing this key source of emissions will support our ability to deliver on
our SBTi targets in line with the Net-Zero Standard.

Photo credit: ERM

Purchased goods and services:
Breakdown of emission sources FY24

H UMAN R I GH T S

90% Subcontractors
3%    Communications (telephone, postage)
5%    Meals
2%    Office supplies

CL I MAT E
NAT UR E

Our focus is on engaging with our top-tier suppliers, as they represent the mostsignificant opportunity for emission reduction. We recognize that our suppliers
are in differing stages of their own decarbonization journey and will work withthem to build awareness and capacity, as well as promote low-carbon suppliers
through our procurement processes.

P EO P L E

During FY24, we increased engagement with our supply chain to understandtheir approach to decarbonization and how this aligns with our net-zero targets.
We will undertake more extensive engagement during FY25 to better understand theemissions associated with the delivery of our services. This will support our ability toprogress from spend based calculation of emissions, to assessment based on accurate
GHG emissions data provided by suppliers. Enhanced accuracy will also support ourability to focus on key aspects of our supply chain where targeted interventions will
be most effective in incrementally reducing emissions.

S U PPLY CHA I N

Learn more in ERM's Decarbonization Strategy

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MATERIAL TOPICS

SUPPLY CHAIN

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OVERVIEW

CASE STUDY: CLIENT

With over a dozen data centersworldwide and ambitious, public-facing
support in developing a strategy tocollect carbon data and understand the
ERM first developed an understanding
one-on-one to take them through theenvironmental context of the work

NAT UR E

and sharing carbon emissions data.

CL I MAT E

and the importance of collecting

H UMAN R I GH T S

of the client’s supplier base and engaged

P EO P L E

impact of their complex supply chain.

The virtual training sessions and ongoing support
provided by the ERM team is helping the client:
untangle a complex supply chain, understand theimpact of their global data center operations, andknow how realistic reductions goals can be met.

“ERM has become thetrusted partner and is
helping the client createplans to achieve othersustainability goals, forwaste, water, etc. Our
knowledge and delivery
have created the trusted
partnership they needto meet their 2030 and
2050 ambitions.”

G OVERN ANCE

sustainability goals, the client required

ERM has both the technical knowledge and supply
chain experience to deliver a robust and effective
supplier engagement strategy. By holding virtual
training sessions with small groups of suppliers,
ERM has been able to scale up the project to achieve
results on a timeframe that aligns with the client’s
sustainability targets.

DATA

MATERIAL ITY & IMP ACTDelivering a robust and effective
supplier engagement strategy

MATERIAL TOPICSS U PPLY CHA I NThis is an ongoing project, and ERM is now scaling up
the engagement work by holding virtual trainings withsmaller groups of suppliers to begin the data collection
process, help identify opportunities to reduce emissions
within their operations, and to formally commit toreduction activities.

Ed Struzik
Partner, ERM
Photo credit: ERM

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SUPPLY CHAINOVERVIEW

Human rights performance
strategy to respect and promote human

Policies

ensure their practices remain aligned to

Sustainability Report 2024

MATERIAL TOPICS

SUPPLY CHAIN

If a supplier has a question, concern or grievance
related to work for ERM and human rights, they cancontact their supervisor or ERM business contact or,if they prefer, ERM's Compliance Team atbusinessconduct@erm.com.

S U PPLY CHA I N

We review our supplier’s hiring practices, from asking
how they recruit employees to requesting records thatverify they follow anti-trafficking efforts. This can
include thorough background checks and efforts toconfirm submitted documents. ERM uses a third-party
screening tool to assess third parties whom we may seek

NAT UR E

ERM is committed to taking steps so that human rights
abuses do not occur in our business or supply chain, andwe expect the same of our suppliers. We will be further
engaging to understand what approach our suppliers are
adopting to monitor their own supply chains in respectof human rights.

with our Human Rights Strategy and to

CL I MAT E

ERM has established due diligence procedures forvetting third parties to verify they operate consistently
with our values and policies, and to check whether they
are or have been subject to any sanctions for humanrights violation across the countries in which they
operate. It is critical that third parties support our
purpose to shape a sustainable future and the respect
and promotion of human rights is fundamental to this.

our supply chain to deliver alignment

H UMAN R I GH T S

Monitoring

committed to engaging and monitoring

We require mandatory training for all ERM employees
working with or managing our suppliers to strengthen
their awareness of human rights and ensure they are
informed about the steps to take should they haveany concerns regarding the activities of our business
partners. We will further engage with our suppliers
to support their own training initiatives.

P EO P L E

Due diligencerights across our value chain. We are

Training

G OVERN ANCE

ERM’s ethical standards and goals.

In accordance with our Supplier Code of BusinessConduct and Ethics, ERM supports international efforts
on human rights, including the eradication of modern
slavery and all suppliers are expected to do the same.
Suppliers are required to adhere to ERM’s Human Rights
Policy and Supplier Code and ensure they do not employ
or use any form of modern slavery in their business or in
their own supply chains. Under international standards,
this prohibition requirement includes forced, bonded orcompulsory labor and human trafficking.

DATA

MATERIAL ITY & IMP ACT

Our suppliers are a critical part of ourto procure, partner or fund through the ERM Foundation.
We conduct a high degree of due diligence especiallywhen procuring or partnering in high-risk jurisdictions.  

MATERIAL TOPICS

For further information on our grievance mechanisms
and remedy, please see ERM’s Human Rights Strategy.
Photo credit: Cindy Aponte, Colombia

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OVERVIEW

CASE STUDY: CLIENT

Supporting our clients in Canada
passed legislation against forced laborand child labor in supply chains. This
mandatory public reporting for many
companies operating in Canada on how• Decent work procedures that incorporate
international indicators;• Remedy frameworks to address identified incidents;

supply chains, with financial penalties• Training for all employees on forced and childlabor; andfor non-compliance.

NAT UR E
S U PPLY CHA I NThis positions ERM to best support companies
as requirements continue to evolve. In April 2024,
Canada’s federal budget reaffirmed its commitment
to introduce further legislation to eradicate forcedlabor from Canadian supply chains and strengthen
the import ban on goods produced with forced labor.
ERM is already working with companies to preparethem for this.

CL I MAT E

ERM responded quickly, coordinating with our humanrights, supply chains and corporate sustainability
teams to provide different levels of support tocompanies across North America. This included
gap analyses, risk assessments, report development,enhanced management systems, training delivery,
and governance and communications support.
We also facilitated a webinar for companies withrepresentatives from government, business andcivil society addressing participants' questions.

• Governance structures to coordinate efforts
across departments.

H UMAN R I GH T S

and forced labor in their business andP EO P L E

they are addressing the risks of child• Due diligence of suppliers beyond direct business
relationships;“We were able to harness
the passion of our people
across diverse teams in
multiple jurisdictions tobest serve our clients. As
a result, we supported themin complying with andexceeding the requirementsof Canada’s Modern Slavery
Act, producing some of
the most comprehensive
reports published to date.”

G OVERN ANCE

modern slavery act introduces annual

DATA

MATERIAL ITY & IMP ACTIn May 2023, the Parliament of Canada

As a result, we have supported companies in
the mining, diversified energy, chemical, packaging
and other sectors in complying with and surpassing
government requirements and aligning withequivalent requirements in other jurisdictions, suchas the United Kingdom and Australia. Across different
companies, common opportunities for improvement
have emerged, including:

MATERIAL TOPICS

Simon Chorley
Human Rights & Modern Slavery Lead, ERM
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SUPPLY CHAIN

135

SUPPLY CHAINOVERVIEW

MATERIAL TOPICSDATAClient services
MATERIAL ITY & IMP ACT

In today’s business, there is no more complex challenge
than supply chain management for clients.

G OVERN ANCE

Unaddressed supply chain risks threaten a company's reputation and profitability
and ERM is supporting our clients to proactively enhance the sustainability of their
supply chain operations through:P EO P L E• Governance: incorporating ESG in the supply chain to maximize positive impact
and reduce risk, with policies incorporating ESG, active engagement with suppliers,
strategic and collaborative partnerships, and supplier selection, monitoring andreporting inclusive of ESG.  

H UMAN R I GH T S• Environmental management: incorporating criteria and targets into all relevant
policies and supplier screening, including science-based targets for Scope 3
emissions, water stewardship program and water neutrality goals, circular economy
embedded in product design and alignment with nature-based disclosures.  

CL I MAT E• Social performance: embedding human rights in all relevant policies andsupplier screening, ensuring the health and safety of employees, customers
and all stakeholders are protected, and people are positively impacted by the
production of goods and services.

NAT UR E

Our technical and business experts work with clients at every stage in creatinga sustainable supply chain, including through:S U PPLY CHA I N• Determining the client's level of ambition, goals and expectations consideringbusiness goals and stakeholder expectations.
• Achieving buy-in through transparent engagement and communication; and• Operationalizing the client's strategy and reporting on progress against goals
internally and externally.
Photo credit: Hanh Nguyen, Vietnam

Sustainability Report 2024

MATERIAL TOPICS

SUPPLY CHAIN

136

OVERVIEW

CASE STUDY: COLLABORATING WITH OTHERS

At times, it generates more energy
than fossil fuel sources in certain
regions, and companies around theworld are increasingly turning to it
to decarbonize. However, renewables
is to achieve net-zero by 2050 and
the Paris Agreement’s 1.5°C target.

renewable energy capacity, which
inputs essential to building renewableenergy infrastructure and products.

Sustainability Report 2024

MATERIAL TOPICS

SUPPLY CHAIN

4. Engage with policymakers
This is the second briefing in our Renewables
Conundrums series, which analyzes the biggest
issues central to the success of renewables growthand corporate climate action needed to meet the Paris
Agreement's target. These briefings explore the benefits
and challenges associated with these conundrums andhow effective management, based on ERM's experienceand expertise, can help maximize benefits andovercome challenges.

S U PPLY CHA I N

must be met with a substantial rise in

3. Seek collaboration and partnerships; andNAT UR E

require a massive expansion in

2. Explore alternative sourcing options;

CL I MAT E

Accomplishing this growth will

1. Engage your supply chain and go beyond compliance;

H UMAN R I GH T S

must grow further still if the world

P EO P L E

Renewable energy is growing rapidly.

Despite the complexities of geopolitics and humanrights in renewable energy supply chains, companies
can better manage risk and create benefit with theright actions. In December 2023, the ERM Sustainability
Institute published Renewable(s) resilience: four steps
to bolster renewable energy supply chains, which
details key steps for companies to do, including:

The first briefing, Unlocking Net Zero: Why Renewables
Conundrums are Key to Corporate Climate Action,
introduced the series, examined what renewables
conundrums are, and explored why they matterto successfully addressing the climate crisis. The
third briefing will explore the potential adverse
environmental impacts of renewable energy and how
they must be considered alongside renewables' positiveeffects. The fourth briefing will consider how renewableenergy developments can be sited and permitted inways that increase social acceptance and generate
benefits for communities.

G OVERN ANCE

Incorporating renewables is not as simple as justinvesting. Companies will face "renewables
conundrums" as they scale their use of renewableenergy, issues that will challenge their efforts but,
if managed correctly, bring benefits.

DATA

MATERIAL ITY & IMP ACT

Renewable(s) Resilience:
Four steps to bolster renewableenergy supply chains

MATERIAL TOPICS

137

OVERVIEW

CASE STUDY: CLIENT

Global water stress risk mapping
company in the world, selected ERM
to better understand the current
manufacturing plants, distribution
centers and sales points.

Using Aqueduct, a widely known water risk tool
developed by the World Resources Institute, ERM
provided the client with the following:• Recommendations for evaluating more deeply themost exposed suppliers and engaging with themto mitigate risks.

S U PPLY CHA I N

Sustainability Report 2024

NAT UR E

Angel Martinez
Consultant, ERM

Photo credit: Jonathan Connelly, United States

MATERIAL TOPICS

SUPPLY CHAIN

CL I MAT E

ERM delivered timely information on the high-risksites, forming a solid foundation for the developmentof the client's strategy for managing water risks for
its global operations.

H UMAN R I GH T S• Recommendations for prioritizing assets basedon value and vulnerability; andP EO P L E• Database with all the client’s sites classified bycurrent and future water risk;“The execution of thisproject was a challenge dueto the limited time to mapa large number of client's
assets and top raw material
suppliers. The outcome ofthis study provides thegroundwork for prioritizing
sites based on business value
and water vulnerability
directing efforts for theirsustainable strategy.”

G OVERN ANCE

and future water risks for all its

In total, ERM helped the client identify the water risks
of more than 200 manufacturing plants and 2,000
distribution and sales centers across 35 countries,
quickly and efficiently.

DATA

MATERIAL ITY & IMP ACT

Grupo Bimbo, the largest baking

In addition, ERM mapped the supply chain water risks
for the place of origin of Grupo Bimbo's top 10 raw
material supplies.

MATERIAL TOPICS

138

SUPPLY CHAINOVERVIEW

MATERIAL TOPICSDATAStepping up our impact• Finalize and implement supplier engagement program
ACHIEVED
Photo credit: Uswah Aziz, Canada• Completing targeted due diligence assessments of select suppliers to inform ourassessment of potential risks, opportunities and impacts.

FY25 headline targets

Delivered through:• Further implementing our Sustainable Supply Chain Strategy, which sets out
our approach and expectations for increasing engagement and monitoring of
supplier performance to ensure consistency with our strategic commitments.
• Escalating our supplier engagement program with a key focus on carbon andhuman rights due diligence in line with our strategic commitments.   

NAT UR E• Mapping and initiating our supplier engagement strategy as part of ourSustainable Supply Chain Strategy.

• Expand sustainable supply chain governance program across top tier spendof suppliers

CL I MAT E• Integrating sustainability due diligence and requirements into our procurement
criteria and began implementation.  

• Undertake country level human rights due diligence assessments

H UMAN R I GH T S• Undertaking a detailed horizon scan and benchmarking exercise to identify current
and forthcoming regulatory and wider stakeholder requirements, peer and evolving
best practice with respect to sustainable supply chain management, including
drawing upon our own in-house subject matter experts.  

P EO P L E

In FY25, we are stepping up our supply chain management program to drive
enhanced sustainability performance and the impact that can be generated
across key areas such as decarbonization and promotion of human rights.

G OVERN ANCE

During FY24 we focused on increasing our visibility of ESG supply chain requirements
and preliminary benchmarking of our own supply chain to understand where andhow we can generate impact. This included:

S U PPLY CHA I N• Leveraging our procurement processes to incentivize stronger sustainability
performance, building on the information potential suppliers provide us on
their ESG credentials and performance.

Learn more in ERM's Sustainable Supply Chain Strategy

Sustainability Report 2024

MATERIAL TOPICS

SUPPLY CHAIN

MATERIAL ITY & IMP ACTFY24 headline target:

139

OVERVIEW

MATERIAL TOPICS

DATA

Photo credit: ERM

Data

ERM establishes both annual targets and longer-termgoals to monitor our effectiveness in managing ourmaterial sustainability topics. We provide details on
our FY24 performance in relation to these targets
and goals in this Sustainability Report. In addition,
we disclose wider performance data of interest to ourstakeholders and consistent with our commitment
to open and transparent reporting.

Sustainability Report 2024

DATA

Performance data
Reporting context

141
174

140

OVERVIEW

MATERIAL TOPICS

DATA

Performance data
We report on key GRI-aligned key performance indicatorsaligned to core programs and additional data of interest to ourstakeholders. Consistent with best practice, our greenhouse gas
emissions and selected data related to our people and health andsafety have been assured by a third-party.

People dataTraining data
Health & safety dataClimate dataCommunities data

142
151
153
159
173

Photo credit: Tadasuke Okubo, Japan

Sustainability Report 2024

DATA

PERFORMANCE DATA

141

People data

MATERIAL TOPICS

DATA

Female

95%

5%

Male

94.5%

5.5%

96.7%

3.3%

OVERVIEW

Data presented here supports the People section of this report.
Employees by employment contract, by gender FY24
GRI 2-7
Gender

Employees by employment contract, by gender FY24
GRI 2-7

Permanent1

Flexible2

Total

Female

3,765

200

3,965

Male

3,530

206

3,736

29

1

30

Not indicated or other

171

39

210

Total

7,495

446

Nonbinary

7,941

81.4%

Total

18.6%

94.4%

Permanent1

5.6%

Flexible2

Permanent refers to employees who have an Employee Type of Permanent/Regular.
2
Flexible includes all employees who have an Employee Type of Fixed Term, Casual or Intern.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA142

R EP ORT I N G CO NTE XT

Not indicated or other

PE RFORM A NCE DATA

Nonbinary

MATERIAL TOPICSDATA

Asia Pacific3

95.5%

4.5%

Europe, Middle East
and Africa

95.6%

4.4%

OVERVIEW

Data presented here supports the People section of this report.
Employees by employment contract, by region FY24
GRI 2-7
RegionPermanent1

Employees by employment contract, by region FY24
GRI 2-7
Flexible2

Total

1,250

59

1,309

Europe, Middle East and Africa

1,959

90

2,049

Latin America and Caribbean

772

95

867

2,667

172

2,839

North America

339

9

348

Global Businesses4

508

21

529

Total

7,495

446

89%

North America

93.9%

6.1%

7,941

Group

97.4%

2.6%

Global Businesses4

96%

4%

Total
Permanent refers to employees who have an Employee Type of Permanent/Regular.
2
Flexible includes all employees who have an Employee Type of Fixed Term, Casual or Intern.
3
Asia Pacific includes Australia and Asia.
4
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.

11%

94.4%

5.6%

1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

Permanent1

Flexible2

143

R EP ORT I N G CO NTE XTGroup

Latin America
and Caribbean

PE RFORM A NCE DATA

Asia Pacific3

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
Employees, by employment type, by gender FY24
GRI 2-7
Gender

Employees, by employment type, by gender FY24
GRI 2-7

Full time

Part time

Total

Female

3,488

477

3,965

Male

3,439

297

3,736

27

3

30

Not indicated or other

182

28

210

Total

7,136

805

88%

Male

92.1%

Nonbinary

90%

89.9%

Full time

PERFORMANCE DATA

10%

13.3%

10.1%

Part time

144

R EP ORT I N G CO NTE XT

86.7%

Total

REPORTING

7.9%

7,941

Not indicated or otherSustainability Report 2024

12%

PE RFORM A NCE DATA

Nonbinary

FemaleOVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
Employees, by employment type, by region FY24
GRI 2-7
RegionEmployees, by employment type, by region FY24
GRI 2-7

Full time

Part time

Total

Asia Pacific1

1,215

94

1,309

Europe, Middle East and Africa

1,726

323

2,049

789

78

867

North America

2,581

258

2,839

327

21

348

Global Businesses2

498

31

529

Total

7,136

805

Europe, Middle East
and Africa

84.2%

91%

9%

North America

90.9%

9.1%

7,941

Global Businesses2

Total

Asia Pacific includes Australia and Asia.
2
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

15.8%

Latin America
and Caribbean

Group

1

7.2%

94%

6%

94.1%

5.9%

89.9%

Full time1

10.1%

Part time2

145

R EP ORT I N G CO NTE XT

Group

92.8%

PE RFORM A NCE DATA

Latin America and Caribbean

Asia Pacific1

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
New hires, by gender FY241, 2
GRI 401-1

New hires, by age group FY241, 2, 3
GRI 401-1
Total number

Rate

Age

Female623

16.4%

Under 30

557

Male

577

16.2%

30-50

620

Nonbinary

5

18.0%

Over 50

107

Not indicated or other

79

57.0%

Not indicated or other

1,284

17.1%

Total

Total

Total number

0
1,284

RegionPermanent hires, including acquisition hires.
2
Rates calculated using average number of permanent employees in the reporting period.
3
ERM's systems cannot currently calculate average headcount by age for Rate calculations.
4
Asia Pacific includes Australia and Asia.
5
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

Total number

Rate

Asia Pacific4

271

22.1%

Europe, Middle East and Africa

279

14.0%

Latin America and Caribbean

100

12.8%

North America

499

18.8%

Group

38

11.2%

Global Businesses5

97

18.0%

1,284

17.1%

Total

146

R EP ORT I N G CO NTE XT

New hires, by region FY241, 2
GRI 401-1

PE RFORM A NCE DATA

GenderOVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
Total turnover, by gender FY241, 2
GRI 401-1

Total turnover, by region FY241, 2
GRI 401-1
Total number

Rate

RegionFemale

668

17.6%

Male

656

Nonbinary
Not indicated or other
Total

Rate

Asia Pacific3

246

20.1%

18.4%

Europe, Middle East and Africa

417

21.0%

5

18.0%

Latin America and Caribbean

109

14.0%

38

27.4%

North America

470

17.7%

1,367

18.2%

Group

44

12.9%

Global Businesses4

81

15.1%

1,367

18.2%

Total

Only Permanent employees are inluded in turnover calculations.
2
Turnover rates calculated using average number of permanent employees in the reporting period.
3
Asia Pacific includes Australia & Asia.
4
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services & Tech Enablement.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

147

R EP ORT I N G CO NTE XT

Total number

PE RFORM A NCE DATA

GenderOVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
Percentage of employees, by gender FY22 - FY24
GRI 405-1
FY22

FY23

FY24

Male

Not indicatedor otherFemaleMale

Not indicatedor otherFemaleMale

Not indicatedor other

Executive Committee

18.2%

81.8%

0.0%

14.3%

78.6%

7.1%

21.4%

71.4%

7.1%

Partners

26.5%

72.0%

1.6%

27.7%

70.4%

1.8%

29.0%

69.2%

1.9%

Senior Consultants1

35.2%

63.1%

1.7%

37.1%

60.4%

2.5%

39.1%

58.9%

2.0%

Consultants2

49.6%

47.1%

3.2%

50.5%

45.3%

4.2%

51.5%

44.8%

3.8%

Business enablement3

70.5%

27.4%

2.1%

69.1%

27.8%

3.1%

69.8%

27.9%

2.3%

All employees

48.4%

49.0%

2.6%

49.1%

47.4%

3.5%

49.9%

47.0%

3.0%

R EP ORT I N G CO NTE XT

FemalePE RFORM A NCE DATA

Career level

Percentage of employees, by age group FY24
GRI 405-1
Career level

Under 30

30-50Over 50

Not indicated or other

Executive Committee

0.0%

14.3%

85.7%

0.0%

Partners

0.3%

52.0%

47.7%

0.0%

Senior Consultants1

0.9%

65.1%

34.1%

0.0%

Consultants2

44.1%

50.0%

5.9%

0.0%

Business enablement3

15.7%

60.8%

23.4%

0.0%

All employees

27.0%

54.8%

18.2%

0.0%

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

Senior consultants include all consultants at ERM career levels 4, 5 and Technical Directors.
2
Consultants include all consultants at ERM career level entry to level 3 and CLX.
3
Formerly referred to as professional support.
1148

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
Percentage of total employees receiving performance and careerdevelopment reviews, by gender FY24
GRI 404-3

100%

90.1%

89.6%

Percentage of total employees receiving performance and careerdevelopment reviews, by employment contract FY24
GRI 404-3

100%

93.3%

93.2%

89.5%
PE RFORM A NCE DATA

78.1%
89.5%

75%

75%

50%

25%

25%

0%

0

FemaleMale

Nonbinary

Not indicatedor otherTotal

R EP ORT I N G CO NTE XT

50%

28%

Permanent1

Flexible2

Total

Permanent refers to employees who have an Employee Type of Permanent/Regular.
2
Flexible includes all employees who have an Employee Type of Fixed Term, Casual or Intern.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

149OVERVIEW

There are currently nine Directors of the Board
comprised of four Non-Executive Directors and five
Executive Directors. More details can be found here.

Diversity of governance bodies and employees
GRI 405-1
78% Male
22% Female
0%   Nonbinary
0%   Other or notindicated

Age

DATA

Composition

Data presented here supports the People section of this report.

Gender

MATERIAL TOPICS

33% 30-50
67% Over 50

Ethnicity

11% Arab
89% White Other

TenureCompetencies

Disability

11% Disability
89% No disability

Sexualorientation

56% Heterosexual
44% Not disclosed

Citizenship

11% Australia
56% Europe1
22% United States
11% Dual2

Stakeholders
The Board collectively and all directors individuallyshould foster effective stakeholder relationships aligned
to the ERM Purpose and strategy, including with
employees, customers, suppliers, external communities
where it operates, regulators and government bodies –and have due regard to their views when making
decisions. The Board develops and promotes the
ERM purpose and ensures, through its decisions andactions, that the values, strategy and culture of theGroup align with that purpose, to generate long-termsustainable value.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

Germany, Italy, Netherlands and Spain. 2 United Kingdom and United States.

150

R EP ORT I N G CO NTE XTAll Directors have experience in the governance ofother organizations. Of the Executive Directors, allhave professional and technical experience in ESG
and sustainability given the nature of ERM’s business.

PE RFORM A NCE DATAERM is a privately held company with external
investors. Board membership includes non-executive
Investor Directors. KKR completed its investment into
ERM in October 2021, when TEIGL was incorporated andthe Directors of TEIGL were appointed. Of the Executive
Directors, David McArthur and Sabine Hoefnagel havebeen members of the Board since 2021; Tim Strawn and
Tom Reichert joined the Board in 2022; and Susan
Angyal joined the board in 2023.

Training data

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
New starter training, FY24

Refresher training, FY24

Percentage of new hires completing
mandatory business conduct and ethics
suite of training between the dates ofApril 1 2023 and March 31 2024.

Percentage completion of required
refresher training between the datesof April 1 2023 and March 31 2024.
Includes the following topics:

Includes the following topics:• Driver Training
PE RFORM A NCE DATA

• Code of Business Conduct and Ethics• Global Travel Acknowledgement
Training• Anti-Bribery/Corruption• Cyber Security• Data Privacy

R EP ORT I N G CO NTE XT• Anti-Money Laundering andTrade Sanctions

93.5% Completed

93% Completed

6.5% Not completed

7% Not completed

Sustainability Report 2024

REPORTINGPERFORMANCE DATA151OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the People section of this report.
Average hours of training per year per employee, by employment contract FY24
GRI 404-1
Hours

25

25

PE RFORM A NCE DATA

20

16
15

R EP ORT I N G CO NTE XT

10

5

0

Permanent1

Flexible2

Permanent refers to employees who have an Employee Type of Permanent/Regular.
2
Flexible includes all employees who have an Employee Type of Fixed Term, Casual or Intern.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

152

Health & safety data

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Health & safety section of this report.
Days away from work case (DAWC) rate FY22 - FY241, 2

0.20

0.15

0.08

PE RFORM A NCE DATA

0.10

0.09

0.05

FY22

FY23

R EP ORT I N G CO NTE XT

0.00

0
FY24

Days away from work cases (DAWC) rate tracks any work-related injuries or illness cases that result in the injured/ill worker
being unable to work for 1 or more days following the event. ERM tracks this metric for our sustainability targets and goals.
2
FY23 data updated due to reclassification of a recordable/lost time injury after the reporting period ended.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

153OVERVIEW

DATA

MATERIAL TOPICS

Data presented here supports the Health & safety section of this report.
Severity rate FY22 - FY241, 2, 3, 4
GRI 403-9

Severity rate, by region FY22 - FY241, 2, 3, 4
GRI 403-9
Region

7

6.35
6

4

FY24

Asia Pacific5

3.49

3.99

0.65

Europe, Middle East and Africa

0.00

0.85

0.06

Latin America and Caribbean

0.00

5.04

26.67

North America

0.00

0.00

7.98

Global Businesses6

0.00

0.00

0.00

Group

0.00

0.00

0.00

Total

0.56

1.35

6.35

3

2

1.35
1

0.56

0

FY22

Sustainability Report 2024

FY23

REPORTINGPERFORMANCE DATAFY24

Data includes ERM employees only.
2
Severity rate is the total number of days away from work and restricted-duty days multiplied by 200,000 (with 200,000
hours equivalent to 100 employees working a 40-hour week for 50 weeks of the year) and divided by the total numberof hours worked by all employees.
3
Severity rates can vary due to the number of hours worked, and the severity rate can be highly influenced by a single
work-related injury or illness.
4
FY23 data updated due to reclassification of a recordable/lost time injury after the reporting period ended.
5
Asia Pacific includes Australia and Asia.			
6
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.
1

154

R EP ORT I N G CO NTE XTFY23PE RFORM A NCE DATA

5

FY22

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Health & safety section of this report.
Total recordable incident rate (TRIR) FY22 - FY241, 2, 3
GRI 403-9, GRI 403-10

Number of recordable incidents FY22 - FY241, 3
GRI 403-9, GRI 403-10

0.30

18

18

0.26
0.25

15

0.23
0.2

12

9

0.10

6

0.05

3

0.00

0

FY22

FY23

FY24

11

R EP ORT I N G CO NTE XT

0.15

PE RFORM A NCE DATA

0.20

15

FY22

FY23

FY24

Data includes ERM employees only.
2
Total Recordable Incident Rate (TRIR) is the number of recordable injuries and illnesses multiplied by 200,000(with 200,000 hours equivalent to 100 employees working a 40-hour week for 50 weeks of the year) and divided
by the total number of hours worked by all employees.
3
FY23 data updated due to reclassification of a recordable/lost time injury after the reporting period ended.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

155

OVERVIEW

DATA

MATERIAL TOPICS

Data presented here supports the Health & safety section of this report.
Number of recordable incidents, by type FY22 - FY241
GRI 403-9
Category

Number of recordable incidents, by type FY24
GRI 403-9

FY22

FY23

FY24

2

Exertion2

6

4

Exposure3

3

3

2

Exertion2

4

Exposure3
5

3

4

Security/Violence5

0

0

0

2

Hit4
1

3

8

Total

11

15

18

4

Security/Violence5

0

Slips, Trips & Falls6

8

0

Exertion2

R EP ORT I N G CO NTE XT

Slips, Trips & Falls

6

PE RFORM A NCE DATA

Hit

4

Exposure3

1

2

Hit4

3

4

Security/Violence5

5

6

7

8

6

Slips, Trips & Falls6

FY23 data updated due to reclassification of a recordable/lost time injury after the reporting period ended.
2
Includes ergonomic (office or field) and fatigue.
3
Includes chemical and environmental exposures.
4
Includes hit by and against.
5
Includes aggression/threats towards personnel.
6Includes falls on stairs, falls to lower levels, falls from height, falls on the same level, and slip/trips from stairs.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

156

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Health & safety section of this report.
Number of LIFE Impacting events FY241, 2, 3, 4
GRI 403-9, GRI 403-10

Fatality rate FY241, 4, 5
GRI 403-9, GRI 403-10

Category

FY24

Category

FY24

0

Fatality rate

0Life-impacting events

0

Total

0

Total

0

PE RFORM A NCE DATA

Fatal events

R EP ORT I N G CO NTE XT

Data includes ERM employees only.
2
LIFE (acronym) - "Life Impacting or Fatal Events"
3
Life-impacting events are defined as any work-related injury/illness resulting in a permenent partial and/or permanent
total disability.
4
A Fatal event is defined as any work-related injury/illness that results in a fatality.
5
Fatality Rate is the number of fatalities as a result of work-related injuries or illnesses multiplied by 200,000(with 200,000 hours equivalent to 100 employees working a 40-hour week for 50 weeks of the year) and divided
by the total number of hours worked by all employees
1

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157

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Health & safety section of this report.
Subcontractors injury and illness FY22 - FY241, 2
GRI 403-9, GRI 403-10
Category

Safety AT ERM Score FY22 - FY241
GRI 403-5
FY22

FY23

FY24

Region

FY22

FY23

FY24

0

Asia Pacific2

93.5

76.7

97.9

Life-Impacting (injuries/illnesses)

0

Europe, Middle East and Africa

84

82.5

91.2

92

92.5

85.3

11

10

5

Latin America and Caribbean

Total injury/illness incidents²

35

33

35

North America

83.0

88.0

82.7

Near miss

30

28

25

Global Businesses3, 4

75.7

50.5

26.8

Total

76

71

65

Global score5

85.5

84.7

88.2

The Safety AT ERM score includes an evalutation of our overall program. The scores are calculated at the business unit level,
and the global score is derived by calculating a weighted average of each operational Regional score (weighted based onhours worked). A target of 85 is given to each business unit and a target of 80 for each operational region for FY24. The
Global target is 80.
2
Asia Pacific includes Australia and Asia.
3
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.
4
For Global Businesses (FY22/23), the maximum scoring potential is 95 instead of 100. Group does not have a goal as they
are not considered an operational business unit.
5
The global score does not include Global Businesses or Group performance, only the four main regions.
1

Data includes subcontractor workers only. A subcontractor for ERM provides services on an ERM project ultimately for
an ERM external client. This includes lower-tier subcontractors.
2
Injury/Illness injuries total includes Recordable Injuries in addition to non-recordable injuries/illnesses.
1

Sustainability Report 2024

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158

R EP ORT I N G CO NTE XT

Recordable injuries

PE RFORM A NCE DATA

Fatalities (injuries/illnesses)

Climate data

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 1 emissions FY20 - FY24 (tCO2e)1, 2, 3
GRI 305-1

Scope 1 emissions, by region FY20 - FY24 (tCO2e)1
GRI 305-1

2,000

Base year

FY20

FY21

FY22

FY23

FY24

Asia Pacific2

59

54

60

43

44

Europe Middle East
and Africa

572

322

461

407

448

500

Latin America
and Caribbean

26

14

29

32

43

0

North America

693

607

625

510

487

Global Businesses3

0

0

0

1

2

Group

0

0

0

11

14

Total

1,350

997

1,175

1,004

1,037

1,500

RegionMost recent year

1,350
1,004

997

1,000

FY21

FY22

FY23

FY24

¹ Scope 1 includes direct emissions from operations we own or control. This includes emissions from company-owned cars,
natural gas and refrigerant gas loss from air conditioning.
² Asia Pacific includes Australia and Asia.
3
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement. Scope 1 emissions
from Global Businesses and Group are included in the data for the ERM region in which employees' home offices arelocated. In FY24 there are two offices under Global Business in Knoxville (Shelton Group) and Aberdeen (OPEX) reporting
air conditioning.

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159

R EP ORT I N G CO NTE XT

FY20

1,037

PE RFORM A NCE DATA

1,175

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 2 market-based emissions FY20 - FY24 (tCO2e)1, 2, 3, 4
GRI 305-2

Scope 2 location-based emissions FY20 - FY24 (tCO2e)1, 2, 3, 4
GRI 305-2

2,000

3,000

1,691

2,582
2,500

2,052
1,000

PE RFORM A NCE DATA

1,500

2,011

2,000

500

1,725

1,750

FY23

FY24

1,500

53

25

R EP ORT I N G CO NTE XT

91

126

0

1,000

FY20

FY21

FY22

FY23

FY24
500

0

FY20

FY21

FY22

Scope 2 includes indirect emissions from purchased electricity, steam and battery electric & hybrid company cars.
2
Our Decarbonization Strategy is supported by Energy Attribute Certificates (EACs). Following the market-based method,
ERM purchased EAC's against 100% of our residual Scope 2 emissions from electricity.
3
Asia Pacific includes Australia and Asia.
4
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement. Scope 2 emissions
from Global Businesses and Group are included in the data for the ERM region in which employees' home offices are located.
There are two offices under Global Business in Knoxville (Shelton Group) and Aberdeen (OPEX) reporting office energy.
1

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OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 2 emissions, by region FY20 - FY24 (tCO2e)1, 2
GRI 305-2
Location based

Market based

Base yearBase year

Most recent year

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

Asia Pacific3

558

443

368

293

355

558

12

2

2

3

Europe Middle East
and Africa

527

270

295

298

382

347

4

8

6

102

Latin America and Caribbean

51

45

36

42

42

51

0

9

0

0

1,446

1,294

1,297

1,072

933

736

75

35

17

18

Global Businesses4

0

0

15

20

35

0

0

0

0

0

Group5

0

0

0

0

3

0

0

0

0

3

2,582

2,052

2,011

1,725

1,750

1,691

91

53

25

126

North America

Total

Scope 2 includes indirect emissions from purchased electricity, steam and battery electric & hybrid company cars.
2
Our Decarbonization Strategy is supported by Energy Attribute Certificates (EACs). Following the market-based method, ERM purchased EAC's
against 100% of our residual Scope 2 emissions from electricity.
3
Asia Pacific includes Australia and Asia.
4
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement. Scope 2 emissions from Global Businesses
and Group are included in the data for the ERM region in which employees' home offices are located. There are two offices under Global Business in
Knoxville (Shelton Group) and Aberdeen (OPEX) reporting office energy.
5Electric/hybrid company cars used by Group employee is reported.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA161

R EP ORT I N G CO NTE XTFY20PE RFORM A NCE DATA

RegionMost recent year

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 1 & 2 performance against SBTi Net-Zero Standard trajectory FY20 - FY40 (tCO2e)1, 2
3,932
4,000

3,735
3,539

3,932

SBTi trajectory

3,342

3,500

Actual performance data

3,146

3,000

3,048

3,186

Near-term target

PE RFORM A NCE DATA

2,949

Long-term target

2,752
2,556
2,728

2,500

2,359

2,787

2,163
1,966

R EP ORT I N G CO NTE XT

1,809

2,000

1,652
1,495
1,338

1,500

1,181
1,024
867

1,000

710
553
393

500

0

FY20

FY21

FY22

FY23

FY24

FY25

FY26

FY27

FY28

FY29

FY30

FY31

FY32

FY33

FY34

FY35

FY36

FY37

FY38

FY39

FY40

¹ ERM's near-term science-based target is to reduce absolute scope 1 and 2 GHG emissions 50% by FY30 from a FY20 base year. ERM's long-term science-based target is to reduce
absolute scope 1 and 2 GHG emissions 90% by FY40 from a FY20 base year.
² Our Scope 2 target is location based. In addition to this, we have a renewable energy target to increase active annual sourcing of renewable electricity from 99% in FY23 to 100% by FY30.

Sustainability Report 2024

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162OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 1 & 2 total emissions and intensity per FTE FY20 - FY241, 2, 3

tC02e

0.57

0.6

PE RFORM A NCE DATA

4,000

tC02e/FTE

Scope 1 & 2 intensity per FTE (tCO2e/FTE)
0.5

Total Scope 1 & 2 emissions (tCO2e)

3,000
0.4

3,041
2,000

0.23

0.3

0.14

0.15

R EP ORT I N G CO NTE XT

0.20

0.2

1,000

1,088

1,228

1,029

1,163

0.1
0

0

FY20

FY21

FY22

FY23

FY24

Scope 1 & 2 GHG emissions normalized by average full-time equivalent employees (FTEs).
2tCO2e = tonnes of carbon dioxide equivalent.
3
The Scope 2 emissions are market-based emissions.
1

Sustainability Report 2024

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MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 3 emissions FY20 - FY24 (tCO2e)1, 2
GRI 305-3

60,000

Scope 3 emissions, by region FY20 - FY24 (tCO2e)1, 2
GRI 305-3
Base year

57,18342,24039,39840,00030,00010,000

3,737
FY20

FY21

5,258

FY22

FY23

FY20

FY21

FY22

FY23

FY24

Asia Pacific3

5,541

796

918

6,709

6,330

Europe Middle East
and Africa

12,125

417

660

9,244

10,740Latin America
and Caribbean

3,275

244

296

3,111

3,527

North America

33,950

2,193

3,209

18,626

20,536

Global Businesses4

1,251

40

160

1,260

655

Group

1,040

47

15

448

451

Total

57,183

3,737

5,258

39,39842,240

FY24

Scope 3 includes other indirect emissions that occur outside ERM.
2
Our Scope 3 profile has been improved to reflect the well-to-wheel (WTW) emissions from business travel andemployee commuting and we have restated historical emissions of these two categories to account WTW emissions.
Additionally, we started reporting Category 3 (fuel and energy related activities) from this year.
3
Asia Pacific includes Australia and Asia.
4
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.
1

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REPORTINGPERFORMANCE DATA164

R EP ORT I N G CO NTE XT

20,000RegionPE RFORM A NCE DATA

50,0000

Most recent year

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 3 emissions, by category FY20 - FY24 (tCO2e)1, 2
GRI 305-3
Base year

Most recent year

FY21

FY22

FY23

FY24

Purchased goods and services

26,634--25,485

22,117

Capital goods

1,879

-

-

1,599

1,467

Fuel and energy related activities

850

-

-

-

716

Business travel

18,322

3,069

4,705

9,605

14,370

Employee commuting

9,499

668

553

2,709

3,570

Total

57,183

3,737

5,258

39,39842,240R EP ORT I N G CO NTE XTFY20PE RFORM A NCE DATA

Category

Our Scope 3 inventory includes Category 1,2,3,6 & 7. ERM is reporting Category 3 (fuel and energy related activities) from FY24,the correspondingbase year value is also reported. An actual data collection around office waste will be conducted in FY25, further ERM will start reporting emissions
from waste.
2
Transportation of subcontractors and goods purchased are included in Category 1 and emissions from ERM rented offices and leased vehicles areincluded in Scope 1&2 therefore ERM does not have emissions to report in Category 4 & 8. None of other Scope 3 categories are applicable to ERM.
1

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OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 3 performance against SBTi Net-Zero Standard trajectory FY20 - FY40 (tCO2e)1, 2
GRI 305-3
30,00026,65325,48527,821Long-term target

24,317
23,149SBTi trajectory

21,981
20,813

Actual performance data

19,64520,00018,477

17,30916,136

14,845
13,554

17,94010,50012,263

9,682

8,300

R EP ORT I N G CO NTE XT

10,972

12,31410,000PE RFORM A NCE DATA

20,50027,821

Near-term target

7,050
5,600

5,000

4,300
2,782

5,258
3,737

0

FY20

FY21

FY22

FY23

FY24

FY25

FY26

FY27

FY28

FY29

FY30

FY31

FY32

FY33

FY34

FY35

FY36

FY37

FY38

FY39

FY40

¹ ERM's near-term science-based target is to reduce absolute scope 3 GHG emissions from business travel and employee commuting 42% by FY30 from a FY20 base year. ERM's long-termscience-based target is to reduce absolute scope 3 GHG emissions from business travel, employee commuting and purchased goods and services 90% by FY40 from a FY20 base year.
2
In addition to the absolute targets, ERM has set a supplier engagement target that 45% of its suppliers by emissions covering purchased goods and services will havescience-based targets by FY28.

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166

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Scope 3 total emissions and intensity per FTE FY20 - FY241, 2
GRI 305-4
tC02e

57,183

12

PE RFORM A NCE DATA

60,000tC02e/FTE

Scope 3 intensity per FTE (tCO2e/FTE)
Total Scope 3 emissions (tCO2e)
50,00010

42,2409.9

39,398830,0006

5.5
20,00010,000

3,737

0

FY20

5.6

0.9

FY21

FY22

4

2

5,258

0.8

R EP ORT I N G CO NTE XT

40,000

FY23

FY24

0

Scope 3 GHG emissions normalized by average full-time equivalent employees (FTEs).
2tCO2e = tonnes of carbon dioxide equivalent.
1

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167

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Total GHG emissions FY20 - FY24 (tCO2e)1, 2
GRI 305-4

Total GHG emissions, by region FY20 - FY24 (tCO2e)
GRI 305-1, GRI 305-2, GRI 305-3

60,224

Base year

60,00043,40340,427

Region

FY20

FY21

FY22

FY23

FY24

Asia Pacific3

6,157

862

980

6,754

6,377

Europe Middle East
and Africa

13,044

743

1,129

9,657

11,291

30,000Latin America
and Caribbean

3,352

259

334

3,143

3,570

North America

35,380

2,875

3,869

19,15321,041

Global Businesses4

1,251

40

160

1,261

657

Group

1,040

47

15

459

467

Total

60,224

4,825

6,486

40,42743,40320,00010,000

4,825
0

FY20

FY21

6,486

FY22

FY23

FY24

Total GHG emissions included is Scope 1, 2 and 3 emissions. Scope 2 reported is market-based emissions.
2tCO2e = tonnes of carbon dioxide equivalent
3
Asia Pacific includes Australia and Asia.
4
Global Businesses includes Climate Markets, CVS, Digital Products, Digital Services and Tech Enablement.
1

Sustainability Report 2024

REPORTINGPERFORMANCE DATA

168

R EP ORT I N G CO NTE XT

40,000PE RFORM A NCE DATA

50,000

Most recent year

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Total GHG emissions intensity FY20 - FY24 (tCO2e/FTE)1
GRI 305-4
Base year

Most recent year

FY20

FY21

FY22

FY23

FY24

Scope 1

1,350

997

1,175

1,004

1,037

Scope 2 (market-based)

1,691

91

53

25

126

26,634--25,485

22,117

Capital goods

1,879

-

-

1,599

1,467

Fuel and energy related activities

850

-

-

-

716

Business travel

18,322

3,069

4,705

9,605

14,370

Employee commuting

9,499

668

553

2,709

3,570

10.4

1.0

1.1

5.6

5.8

PE RFORM A NCE DATA

Category

Scope 3

Total GHG emissions intensity

1

R EP ORT I N G CO NTE XT

Purchased goods & services

Total GHG emissions normalized by average full-time equivalent employees (FTEs).

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169

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Global energy use, by type FY20 - FY24 (MWh)1, 2
GRI 302-1, GRI 302-2, GRI 302-4
Base year

Most recent year

FY21

FY22

FY23

FY24

Office electricity from non-renewable sources

4,888

22

15

0

0

Office electricity from renewable sources

2,878

4,933

5,327

5,071

4,892

From heating consumption

2,685

2,290

2,228

1,426

1,010

From steam consumption

598

355

188

94

104

Fuel consumption in company vehicles

2,719

1,600

2,103

2,263

2,375

13,768

9,200

9,861

8,854

8,381

Total

R EP ORT I N G CO NTE XTFY20PE RFORM A NCE DATA

Category

Employees from Global Businesses and Group are included in the data for the ERM region in which theirhome offices are located.
2
For reporting purposes, only MWh using the regular method are included and upstream MWh are excluded.
1

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170

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Global office energy use intensity FY20 - FY24 (KWh/M²)³
GRI 302-3

Global energy use FY20 - FY24 (MWh)1, 2
GRI 302-1, GRI 302-2, GRI 302-4

15,00013,76812,000

9,200

9,861
8,854

9,000

8,381

150

136
114

100

3,000

50

0

0

FY21

FY22

FY23

FY24

99

FY20

FY21

FY22

103

101

FY23

FY24

R EP ORT I N G CO NTE XT

6,000

FY20

PE RFORM A NCE DATA

200

Employees from Global Businesses and Group are included in the data for the ERM region in which theirhome offices are located.
2
For reporting purposes, only MWh using the regular method are included and upstream MWh are excluded.
3
Energy use in office spaces normalized by ERM's total floor space for all stated years. Please note, fuel from company cars
is not added here - as this does not relate to office space energy use. We use KWh/M2 to get best representation of ourenergy use intensity.
1

Sustainability Report 2024

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171

OVERVIEW

MATERIAL TOPICS

DATA

Data presented here supports the Climate section of this report. See Climate
supplement for more information.
Beyond value chain mitigation (BVCM) in FY241, 2

Coverage of
total Scope (%)

1,037

1,037

100%

126

126

100%

Scope 3 - Category 1

22,1172,587

12%

Scope 3 - Category 2

1,467

1,467

100%

Scope 3 - Category 3

716

716

100%

Scope 3 - Category 6

14,37014,370100%

Scope 3 - Category 7

3,570

3,570

100%

Scope 1
Scope 2 - Market based

R EP ORT I N G CO NTE XTCarbon credit
volumes (tCO2e)

PE RFORM A NCE DATAFY24 Residual
emissions (tCO2e)

Category

From FY23 ERM is taking voluntary action to abate our residual emissions through carbon credits programs and projects that fall beyond ourown value chain. Learn more about our FY24 approach and projects to help the global economy align with net-zero here.
2
In FY24, ERM purchased carbon credits to cover our full Scope 1 emissions, Scope 2 emissions not covered by a market-based instrument andfull coverage of Scope 3 emissions related to business travel, employee commuting, fuel and energy related activities, capital goods and 12% ofpurchased goods and services.
1

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172

Communities data

OVERVIEW

MATERIAL TOPICS

DATA

Community investments FY22 - FY24 ($’000)1
GRI 201-1
Category

FY22

FY23

FY24

Pro bono time - ERM Foundation2

142

164

95

Pro bono time - Strategic partners3

1,347

617

1,182

In-kind support4

222

145

158

Matching funds5

178

273

270

Charitable contributions6

212

12

12

Membership7

217

459

314

2,318

1,670

2,031

R EP ORT I N G CO NTE XT

Total

PE RFORM A NCE DATA

Direct contributions

From FY21, the presentation of information has changed. In-kind support has been moved from Direct contributions,with pro bono support to Strategic partners listed separately.
2
Pro bono hours are registered by consultants on approved ERM Foundation projects. For ERM Foundation projects,
pro bono time is calculated at 80 percent of hourly chargeout rate.
3
From FY22, the value of the pro bono time provided by ERM employees to our strategic partners has been
calculated based on standard fee rates.
4
In-kind support includes salaries and direct costs for employees responsible for the ongoing operations of the
ERM Foundation.
5
From FY22, matching funds are made on a 100% match for each dollar donated basis, for most employee donations
in all regions. A percentage of this budget is also used for ‘seed funding’ as part of the program to support longer-term
partnerships with nonprofit organizations, particularly in geographies where employee-led fundraising is more challenging.
6
Charitable contributions made to organizations other than The ERM Foundation.
7
Membership fees for global sustainability-focused organizations, where ERM actively contributes to thought
leadership activities.
8
Calculated from prior fiscal year’s Earnings Before Interest, Tax and Amortization (EBITA).Therefore, FY24 percentage
calculated using FY23 EBITA figure.
9
Funds raised by employees to support the ERM Foundation and other charities/nonprofit organizations. From FY24,
this calculation includes shareholder contributions to the ERM Foundation Future Fund.
1

Percentage of Profit8

1.97%

1.09%

1.25%

126

126

273

Employee contributions
Employee contributions9

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OVERVIEW

MATERIAL TOPICS

DATA

Reporting context
ERM continues to evolve our disclosures in line with emerging
best practice and guided by our in-house experts who aresupporting clients across the world to progress their own ESG andsustainability reporting.

Our approach to reporting
175
Assurance182

Photo credit: Kenneth Miller, United States

Sustainability Report 2024

DATA

REPORTING CONTEXT

174

Our approach to reporting

OVERVIEWThis report details our performance
during FY24 (1 April 2023 through to
31 March 2024) against our material
topics identified through ourmateriality assessment. It addresses
topics that are of significant interest
Our previous report (covering FY23)
was issued in July 2023.

This report is prepared in accordance with the Global
Reporting Initiative (GRI) and we are preparing foraccordance with the Corporate Standard Reporting
Directive (CSRD). While developing this report we
focus on the following principles:• Accuracy;• Balance;• Clarity;• Comparability;

DATA

Double materiality assessment
Our materiality assessment process enables us to identify,
prioritize, and validate our material topics. We conduct
a comprehensive process to confirm that our material
topics are relevant and set annual targets to track theeffectiveness of our material sustainability issues.
While continuing to align with the GRI standards,
given the changes in regulations, this year we looked
to align our process with the Corporate Sustainability
Reporting Directive (CSRD). Our approach drew ona range of inputs to develop a view on what matters
to our internal and external stakeholders, and assessed
them across our risks, opportunities and impacts.

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to our stakeholders and our business.

This report has been reviewed and approved by the
Executive Committee Sustainability Working Group,
under delegated authority from the Executive Committee.

MATERIAL TOPICS• Completeness;

R E PO RT IN G CO NT E XT

• Sustainability context;• Timeliness; and• Verifiability.   
ERM has taken steps to ensure the information, data
and materials mentioned in this report are correct at thedate of publication (July 2024). However, we are not able
to guarantee that the information, data and materials
remain correct after that date. For this reason, thecontents of this report are provided for informational
purposes only and may not be relied on. ERM disclaims
liability for any reliance made on the information, data
and materials contained in this report. If you would likemore detail on any information in this report, contact
sustainability@erm.com.
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Photo credit: Sophie Sax, United Kingdom

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MATERIAL TOPICSDATA

Assessing our risks, opportunities and impacts across our value chain
Positiveor negative

Timeframe

Our response

GovernanceImpactRisk and
Opportunity

Positive andnegative

Current stateand future state

Page 41

PeopleFinancial
and Impact

Risk and
Opportunity

Positive

Current stateand future state

Page 61Human Rights

Financial
and Impact

Risk and
Opportunity

Positive and
Negative

Current stateand future state

Page 83

ClimateFinancial
and Impact

Risk and
Opportunity

Positive

Current stateand future state

Page 93

NatureFinancial
and Impact

Risk and
Opportunity

Positive

Future state

Page 109

Supply chain

ImpactRisk

Negative

Current stateand future state

Page 129

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Risk oropportunity

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TopicFinancial or
impact materiality

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OVERVIEW

MATERIAL TOPICSDATAStakeholder engagement
In accordance with the GRI Standards, ERM describes the stakeholders to whom
we consider ourselves accountable. Our sustainability report content draws upon theoutcomes of our stakeholder engagement throughout the year as well as the resultsof stakeholder engagement we undertake specifically for our sustainability report.
The outcomes of these stakeholder engagement processes inform and are consistent
with the material topics we include in our sustainability report.
ERM’s stakeholders
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Our stakeholders include our employees, clients, investors, lenders, suppliers
and subcontractors, strategic partnerships, local communities, governments,
nongovernmental organizations (NGOs), business and industry associations,and academics and other thought leaders.
Approach to stakeholder engagement

R E PO RT IN G CO NT E XT

As part of our commitment to good business, we engage regularly with key
stakeholders. This process helps us to understand, prioritize and manage oursustainability impacts as an organization as well as to evolve our client services.
We engage with stakeholders through a variety of mechanisms, including direct
dialogue, surveys, engagement at professional and industry forums, andsharing information.
The frequency and nature of this dialogue are designed to enable regularcommunication with stakeholders on key issues. We conduct additional
engagement with stakeholders as part of the development of our sustainability
reports, and this feedback is an important input of our report preparation.

Photo credit: Amanda Abiella Resmana, Indonesia

Key issues raised by stakeholder groups, along with our response, can be foundon the following pages.

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MATERIAL TOPICS

Stakeholder group

Frequency & method of engagement

Topics of interest and ERM’s response

Clients

Ongoing:• Technical competence: see Projects• Reviews of projects, programs and relationships• Understanding and managing risks: see Risk management• Client feedback tool

• Protecting the privacy and security of data: see Digital governance• Supplier surveys• Health and safety at work sites: see Health and safety

DATA• Sustainability performance: see Operationalizing sustainability and Performance data
• Diversity, equity, inclusion and belonging: see DEIB
• Innovation and digitization: see Digital governance
P ERFORMAN CE D ATA• Insights and thought leadership: see Sustainability Institute• Impact of our services: see Our impact
Senior managers
and Partners

Semi-annual:• Performance and development discussions
Annual:• Employee reviews

Sustainability Report 2024

REPORTINGREPORTING CONTEXT• Understanding and managing risks: see Risk management• Sustainable financial performance: see Financial overview• Protecting the privacy and security of data: see Digital governance

R E PO RT IN G CO NT E XT

Ongoing:• Partner calls (global and regional)• Meetings• Open door leadership• Health and safety at work: see Health and safety and Wellbeing• Employee attraction, development and retention: see People• Innovation and digitization: see Digital governance• Criteria for selecting clients and projects: see Governance• Business conduct and ethics: see Governance• Governance: see Governance

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MATERIAL TOPICS

Frequency & method of engagement

Topics of interest and ERM’s response

Employees and potential
employees

Ongoing:• Climate: see Climate• Knowledge sharing through collaboration tools• Diversity, equity, inclusion and belonging: see DEIB

• Open door leadership• Wellbeing of employees: see Health and safety and Wellbeing• Employee information sharing sessions• Health and safety at work: see Health and safety and Wellbeing• Employee and team meetings• Training and career advancement: see People• Open forums with Group CEO and senior leaders• Innovation and digitization: see Digital governance• Employee surveys• Salary, benefits and workplace flexibility: see People• Technical communities• Criteria for selecting clients and projects: see Governance• Employee resource groups• Protecting the privacy and security of data: see Digital governance

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Stakeholder group

DATA

Semi-annual:• Performance and development discussions

R E PO RT IN G CO NT E XT

Annual:• Employee reviews
Board Directors andInvestors

Bimonthly:• Governance: see Governance• Board meetings• Understanding and managing risks: see Risk management• Sustainable financial performance: see Financial overview

Lenders

Ongoing:• Business conduct and ethics: see Governance• Business updates• Performance against sustainability goals: see Targets and goals and Performance data

Ongoing:• Performance against financial goals: see Financial overview• Lender briefings• Performance against sustainability goals: see Targets and goals and Performance data

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OVERVIEW

Stakeholder group

Frequency & method of engagement

Topics of interest and ERM’s response

Strategic partnerships

Ongoing:• Technical competence: see Projects• Reviews of initiatives, projects and relationships• Innovation and digitization: see Digital governance

MATERIAL TOPICS

DATA• Insights and thought leadership: see Sustainability Institute• Impact of our services: see Our impact
Ongoing:• Health and safety at work sites: see Health and safety and Wellbeing• Communications on policies and expectations• Business conduct and ethics: see Governance

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Contractors and suppliers• Vendor surveys
Community members

Ongoing:• Technical competence: see People• Project-related meetings• Compliance: see Governance

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• Communities: see Human rights

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OVERVIEW

Stakeholder group

Frequency & method of engagement

Topics of interest and ERM’s response

Industry peers, thought
leaders and academics

Ongoing:• Climate change: see Climate• Conferences, webinars, meetings• Biodiversity: see Nature• Participation in collaborative project• Communities: see Human rights

MATERIAL TOPICS

DATA• Human rights: see Human rights• Diversity, equity, inclusion and belonging: see DEIB
• Innovation and digitization: see Digital governance
P ERFORMAN CE D ATA• Insights and thought leadership: see Sustainability Institute• Criteria for selecting clients and projects: see Governance• Impact on nature and society: see Nature and Human rights
Ongoing:• Climate change: see Climate• Conferences, webinars, meetings• Biodiversity: see Nature• Participation in collaborative projects• Communities: see Human rights

R E PO RT IN G CO NT E XT

Nongovernmentalorganizations• Human rights: see Human rights• Diversity, equity, inclusion and belonging: see DEIB
• Innovation and digitization: see Digital governance• Insights and thought leadership: see Sustainability Institute• Criteria for selecting clients and projects: see Governance• Business conduct and ethics: see Governance

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Assurance

OVERVIEW

As a leading provider of sustainability and environmental,social and governance (ESG) advisory services, including
reporting and disclosure advise, ERM strives to be a leader inour own reporting approach.

DATA

Our assurance approach integrates both internal and external review processes,
leveraging ERM's specialized in-house expertise. We have established governance,
reporting and internal review mechanisms to ensure the integrity of the informationin this report and to bolster stakeholder trust in the accuracy and reliability of ourreporting.
We took onboard the findings from our external assurance provider last year
(for greenhouse gas and selected health and safety, diversity and employee data
verification) and have incorporated their findings into our ways of work and ourapproach to assurance this year.
We engaged LQRA to provide limited assurance to International Standard on
Assurance Engagements (ISAE) 3000 for data reported from ERM’s global operations
for the following data:

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We have transparently set out how we have gathered, recorded, compiled, analyzed
and reported information and processes used in the preparation of this report. This isdone to enable our stakeholders to understand our approach and have confidence inthe quality and materiality of the information.

MATERIAL TOPICS• Scope 1 GHG emissions• Scope 2 GHG emissions (location-based and market-based)

R E PO RT IN G CO NT E XT

• Scope 3 GHG emissions that are part of our current Science Based Targets
initiative (SBTi)• Category 1: Purchased goods and services• Category 2: Capital goods• Category 6: Business travel (both internal and external)• Category 7: Employee commuting and working from home
• GRI 403-9: Work-related injuries• GRI 403-10: Work-related illnesses• GRI 2-7: Employees• GRI 401-1: New employee hires and employee turnover• GRI 405-1: Diversity of governance bodies and employees

Photo credit: Austin Groff, United States

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Stepping up
Sustainability is our business© Copyright 2024 by the ERM International Group Limited and/or its affiliates (‘ERM’). All rights reserved.
No part of this work may be reproduced or transmitted in any form or by any means, without prior written permission of ERM.