Reporting

Reporting frameworks, external benchmarks and indices

Greggs understands the importance of climate change and that we must reduce our own impact and mitigate against climate risk. We believe that improved governance and reporting across all industries and sectors will contribute to the reduction of carbon emissions and assist in the transition to a low-carbon future. The Task Force for Climate-Related Financial Disclosure (TCFD) developed a framework to help companies disclose climate-related risks and opportunities.

Greggs completed its first TCFD report in 2023. Our latest report, published April 2024, describes our actions over the course of the year and demonstrates how we continue to refine our transition activity going forwards.

Task Force for Climate-Related Financial Disclosure (TCFD)

Greggs understands the importance of climate change and that we must reduce our own impact and mitigate against climate risk. We believe that improved governance and reporting across all industries and sectors will contribute to the reduction of carbon emissions and assist in the transition to a low-carbon future. The Task Force for Climate-Related Financial Disclosure (TCFD) developed a framework to help companies disclose climate-related risks and opportunities.

Greggs completed its first TCFD report in 2023. Our latest report, published April 2024, describes our actions over the course of the year and demonstrates how we continue to refine our transition activity going forwards.

Light blue text state "TCFD", then in smaller text states "Task force on climate-related financial disclosures"

Sustainability Accounting Board Standards (SASB)

The logo for SASB, the sustainability accounting standards board.

The Sustainability Accounting Standards Board (SASB) is an independent nonprofit organisation that sets industry-specific sustainability standards which identify financially material topics and associated metrics.

This year we are proud to report for the first time against the Sustainability Accounting Standards Board, based on the standards for Food Retailers and Distributers.

Carbon Disclosure Project (CDP)

Carbon Disclosure Project is a non-for-profit charity that runs the global disclosure system for companies to help manage environmental impacts. Each year, we participate in CDP surveys relating to Climate Change and Forest disclosures annually.

For the Climate Change disclosure, in 2022 we improved our score from B- to B. In 2023, we have maintained our B rating.

CDP have also published their carbon-related Supplier Engagement rating for 2023. Greggs scored an A- (B in 2022). Out score now places us within their leadership banding, showcasing the implementation of best practice and outperforming the industry average at B.

We first participated in CDP Forests for the 2022 disclosure period, sharing information on our use of soy, palm oil, beef and cocoa. In 2023, we have maintained our score of D,C,C,D.

The logo of CDP, Disclosure Insight Action

Business Benchmark on Farm Animal Welfare (BBFAW)

The logo of BBFAW, the business benchmark on farm animal welfare.

The BBFAW assesses how companies manage and report on farm animal welfare. We have been assessed by them every year since it was set up in 2012. In 2016, we achieved a Tier Two rating, and in 2021 we set an ambition to achieve Tier One by 2025. We welcomed the introduction of their new, more stringent, standard in 2023, which will help to improve the lives of farm animals reared for food, and we were proud to be placed in the top 10 of 150 of the world’s largest food companies. However, the substantial changes to their measurement criteria meant the roadmap to Tier One had changed, and we achieved Tier Three in their 2023 assessment. In the 2024 BBFAW assessment, we are proud to have moved from Tier Three to Tier Two and improved our impact grading from D to C. We remain committed to continuous improvement on farm animal welfare and will work towards achieving the BBFAW’s new requirements over the longer term. Our support for BBFAW goes beyond inclusion in the benchmark. Our Chief Executive provided a foreword to the 2023 BBFAW report and our Sustainability and Farm Animal Welfare Manager joined the expert panel at its launch at the London Stock Exchange in April.

Workplace Disclosure Initiative (WDI)

The Workforce Disclosure Initiative (WDI) aims to improve corporate transparency and accountability on workforce issues, provide companies and investors with comprehensive and comparable data and help increase the provision of good jobs worldwide.

In 2022, we have increased our disclosure score from 83% to 91%. We have also received a special mention for Workplace Action in WDI’s the Workplace Transparency Awards.

The logo for WDi, the workforce disclosure initiative.

Sustainability Reporting Archive

Take a look at our previous years' Greggs Pledge reports: