REG - Wickes Group PLC - Confirmation of ESG LTIP targets

WickesAnnouncement

20/12/2024 14:30

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RNS Number : 9892Q  Wickes Group PLC  20 December 2024

Wickes Group Plc (the "Company")

 

Confirmation of ESG targets for 2023 and 2024 LTIPs

 

As disclosed in the 2023 Annual Report and Accounts, the Company committed to
confirm the ESG targets for the 2023 and 2024 LTIPs following completion of
the rebaselining of our Science Based Targets.

 

ESG targets for the 2023 LTIP (10% weighting)

Following the rebaselining work set out in the 2023 Annual Report and
Accounts, page 48, no changes have been made to the existing 2023 LTIP ESG
targets. These remain as stated in the 2022 Annual Report and Accounts, page
110.

 

ESG targets for the 2024 LTIP (10% weighting)

We now have a greater appreciation of the need to rebaseline frequently due to
improving carbon accounting methodology and changes to the business.  As a
result we have made the decision to assess performance based on absolute
carbon emissions, rather than performance relative to our baseline.

 

Our decarbonisation plan is supported by our improved approach to forecasting
emissions.  We have also focused the ESG-linked LTIP target on the activities
that the Company has most control and influence over, which is the reduction
of greenhouse gas emissions from scope 1 and 2 activities.

 

2024 LTIP ESG Target - Scope 1 & 2 carbon emissions in Financial Year 2026
(tonnes carbon dioxide equivalent (tCO(2)e)):

 

 Threshold (20% vesting)  15,879 tCO(2)e
 Maximum (100% vesting)   15,257 tCO(2)e

 

 

Further details on the rebaselining and its impacts will be provided in the
2024 Annual Report.

 

 

For enquiries, please contact:

 

Helen O'Keefe

Company Secretary

Tel: (44) 1923 656600

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