259994 Phoenix Energy Responsible Business Report 2025.pdf

CLIMATE CHANGE We recognise climate change as the biggest environmental threat the world faces, and one which poses particular challenges to our business, most notably in the role that Phoenix continues to play in the transition to net zero emissions. The transition to a low carbon economy is vital for a sustainable future. In order to make progress, it is necessary that we understand the material financial implications of climate change on businesses and investments. Therefore, measurement and integration of comparable, consistent, and reliable ESG factors is fundamental to making more informed decisions to facilitate long term sustainable growth. The Taskforce on Climate related Financial Disclosures To encourage company disclosure of material climate-related risks and opportunities, the Financial Stability Board created the Taskforce on Climate related Financial Disclosures (‘TCFD’). In 2017, the TCFD published their recommendations for all sectors, with additional disclosures for the energy sector. This framework encourages action and transparency in the following areas: • Governance • Risk management • Strategy • Metrics and Targets Phoenix is committed to implementing the recommendations of the TCFD, and the information outlined in this report, alongside disclosures contained within Phoenix’s Financial Statements represent our fifth disclosure. In 2024 we have fully complied with the recommendations of the TCFD.

GOVERNANCE Phoenix has developed a tiered governance framework to provide oversight and management of our environmental, social and governance (ESG) strategy and targets. This involves our Board of Directors, ESG Committee, Executive Management Team, senior management and operational personnel from across the business.

The Board of Directors

Oversight

ESG Commitee

Executive Management Team (EMT)

Responsible Business Group

Execution

Operational Departments

Strategic Direction

Information & Reporting

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