Presentations by Fourth Element, Cornwall Council and Tevi on sustainability and the environment

1. G R E E N B U S I N E S S : G R E E N C O R N W A L L
B R E A K F A S T B R I E F I N G 5 M A R C H 2 0 2 0

2. GREEN BUSINESS: GREEN
CORNWALL
Introduction
RICHARD WADMAN
CORPORATE FINANCE DIRECTOR
E: RICHARD.WADMAN@PKF-FRANCISCLARK.CO.UK
T: 01872 246595

3. HOUSEKEEPING
@pkfFrancisClark

4.  Introduction
 Green Business: why and how to place the environment at the centre of a business –
Fourth Element
 Green Cornwall: Cornwall Council’s ‘Climate Change team’, an update on their Climate
Change Action Plan - Carbon Neutral Cornwall.
 Green Business/ Green Cornwall: practical examples of assistance provided to
businesses to address sustainability risks - Tevi
 PKF Francis Clark/ Future events
 Q&A
AGENDA

5. P K F F R A N C I S C L A R K
 UK member firm of PKF International
 Led by 58 partners, with over 750 people
 Largest regional accountancy firm in England & Wales
 Operates from 8 offices in the South
 >20,000 clients across the UK
 Integrated tax service also providing technical support
to over 400 accountancy firms around the UK
 Award winning Corporate Finance, Tax and Audit services
PKF REACH
P K F I N T E R N A T I O N A L
 One of the world's leading organisations of
independent assurance, tax and advisory firms
 Combined turnover of over $1 billion
 400 offices based in over 150 countries
USA
 41 offices
 29 partners
 1,843 staff
N. IRELAND
 4 offices
 13 partners
 181 staff
UAE
 10 offices
 13 partners
 162 staff
AUSTRALIA
 14 offices
 85 partners
 608 staff
NEW
ZEALAND
 12 offices
 16 partners
 142 staff
CHINA
 45 offices
 63 partners
 1,999 staff

6. 01392 667000
Exeter
01722 337661
Salisbury
01823 275925
Taunton
01803 320100
Torquay
01872 276477
Truro
01752 301010
Plymouth
01202 663600
Poole
Bristol
0117 403 9800

7. • Designed for family
businesses
• A structured approach for
identifying opportunities
and increasing wealth for
the family
• Our advisers will work
with you depending on
your requirements, pace
and priorities
Step inside …….. Family Business Connect

8. WHY “SUSTAINABILITY”
 Because I and others at PKF Francis Clark care!
 “climate change has become a defining factor in
companies’ long-term prospects”, and, “over
time, companies and countries that do not
respond to stakeholders and address
sustainability risks will encounter growing
scepticism from the markets, and in turn, a
higher cost of capital.” - C.E.O of BlackRock
 “Right now, climate change and the damage
wrought on the environment by human
behaviour have begun to take root in our
collective consciousness. From school children
striking to local social groups, we are beginning
to see impressive results. Sustainability has
shifted from a "nice to have" to a core
component of business strategy for many
companies across the globe” – Cornwall
Chamber of Commerce

10. putting the ocean at the heart of our
business

11. why we dive

12. too often, this is what we see

13. scuba divers see this first hand

15. what if plastic was gold?

21. waste.reborn

29. what can we do for the ocean?

31. eliminate single-use plastic

33. use more recycled materials

34. minimise impact on environment

35. why?

36. trends
increasingly aware consumers
reward environmental efforts

37. but it is more important than this
existential

39. become
OceanPositive

40. Information Classification: CONTROLLED
Climate Emergency
Striving towards a Carbon Neutral Cornwall

41. Information Classification: CONTROLLED
Based on Cornwall’s current Green House Gas inventory (2017 data year)
Cornwall’s current carbon footprint is 4 million tonnes Co2e
(c28% were non-Co2 GHGs)
Since the last Greenhouse Gas inventory produced in 2011 (2008 data year) Cornwall’s
Co2e footprint has reduced by c19.5% and at the latest estimate 37% of our electricity
now comes from renewables.
Cornwall’s current carbon footprint

42. Information Classification: CONTROLLED
• Council’s Operational Programme:
Councils’ control
• Cornwall Facilitation Programme:
Council as enabler or partner
• Cornwall Regional and
National Programme:
Working across border and
with Government
Our Action Plan – acknowledges our role in the system

43. Information Classification: CONTROLLED
The Council is now working towards developing programmes of
work which will achieve the following aims:
• Reduce carbon emissions from commercial, industrial & public sector
organisations and promote a circular economy
• Cornish households reduce their carbon footprint and make more
sustainable choices
• Reduced emissions from transportation including people and goods
• Expansion of renewable energy
• Climate resilient communities, landscapes and infrastructure
• Increased carbon drawdown through natural and engineered climate
solutions
Our focus

44. Information Classification: CONTROLLED
Early activity undertaken since July 2019
Partnering with West Midlands Combined Authority to pilot Energy Innovation Zones
Lobbying Government about energy infrastructure
£23.5m for secured from Department of Transport to reduce bus fares
Local Industrial Strategy – Clean Growth Focus
Cornwall Isles of Scilly Leadership Board declare Climate Emergency
Localism Summit and Cornwall Schools Eco-conferences
Climate Change Development Planning Document
50:50 Future Cornwall
Whole House Retrofit Pilot
Investment in Deep Geothermal
Forest for Cornwall
Decision making
Wheel
Recruit core team
Budget challenge
Scenario modelling
Areas we directly control and guide
Areas we can
enable through
funding
Areas we can
Enable
through
policy
Areas we can
influence locally
Areas we can
influence or ask
for nationally

45. Information Classification: CONTROLLED
Decision making

46. Information Classification: CONTROLLED
Thank you / Meur ras
There is lots of information on our website:
www.cornwall.gov.uk/climatechange
If you have any questions or comments please email:
climatechange@cornwall.gov.uk

47. Edvard Glücksman
Green Business – Green Cornwall
5 March 2020
Practical examples of assistance provided to
businesses to address sustainability risks

48. Business Case for Sustainability workshop (Conscious Creatives)

49. A strategic partnership

50. Circular
economy
Environmental
growth
Business engagement

51. Environmental growth

52. "influencing the
behavioural attitudes,
product perceptions and
behavioural intentions"
Circular economy

53. New partnership with Circle Economy (Amsterdam)

54. • Over 300 SMEs
• £500k grant funding
• 12 hours of free support
Project development
Funding applications
• Challenge Networks
Business engagement

55. • 344 Engaged businesses
• 4,128 Business assist hours
• 1,215 Attendees at events
• 27 Events and workshops
• 2 International partnerships
• 15 National partnerships
• 6 Multidisciplinary programme collaborations
• £250k Grant funding committed
Impact overview (Q1/2020)

56. Identify solutions to some of the biggest
environmental issues faced by
organisations across Cornwall & IoS
Topics chosen based on feedback
from member enterprises
Challenge Networks

57. • Porthcurno Collections Trust (Telegraph Museum):
wildflowers for car park beds and verges
• Nancarrow Farm: aerobic food composter
• Incredible Bulk: zero-waste recycling boxes for new
waste streams
• Green & Blue: Shredder to facilitate zero-waste
packaging
• Cornish Lithium: Drone survey and equipment to
facilitate mapping of geological features and alternative
resource extraction possibilities
• Bennamann Ltd: Feasibility study for bio-methane
options at Newquay airport
• Wildscapes: Electric garden machinery
Grant support - case studies

58. Local
seeds
Canopy
cover
EV
charging
Advanced
moorings
Geo-
resouces
Food
waste
Challenge Networks

59. Local Seed Bank
1 fieldtrip
5 mentoring deepdives
35 collaborators
Eelgrass Regeneration
3 workshops
3 national bodies
133 collaborators
Food and Drink Waste
2 workshops
5 mentoring deepdives
82 collaborators
Geothermal Resources
1 fieldtrip
3 workshops
99 collaborators
EV Charging Optimisation
3 workshops
1 community presentation
41 collaborators
Canopy Cover
1 policy engagement
3 workshops
108 collaborators
Challenge Networks

60. Visit to materials recycling facility visitor centre in Bodmin

61. Circular Economy Summit 2019 – Nancarrow Farm

62. Food Waste Challenge Network workshop – National
Maritime Museum Cornwall

63. South West Coast Path workshop - Porthcurno

64. National Tree Planting Week 2019 – Enys Gardens

65. • March
• 12: Mapping UK’s circular economy for lithium-ion
batteries (Truro)
• 17: Regenerating and rewilding privately-owned land
(Bedruthan)
• 25: Textiles and the circular economy (TBD)
• April
• 24: Sustainability for creative industries (Truro)
• May
• 4: Environmental intelligence summit (Eden)
• 6: Field trip to St Dennis incinerator
• 12: Construction and manufacturing workshop
• 20: Cornish heritage and the environment
Forthcoming events/workshops

67. GREEN BUSINESS:
GREEN CORNWALL
Wrap up, including:
• PKF Francis Clark and “green business” some examples
• Future events
RICHARD WADMAN
CORPORATE FINANCE DIRECTOR
E: RICHARD.WADMAN@PKF-FRANCISCLARK.CO.UK
T: 01872 246595

68. PKF FRANCIS CLARK: ENERGY & INFRASTRUCTURE
energy usage into standard figures for Carbon Dioxide emissionsenergy usage into standard figures for Carbon Dioxide emissions

69. • Carbon and Energy Reporting Regulations (CERR)
• New reporting requirement on large UK companies (for AP beginning on or
after 1 April 2019)
• Three qualitative and two quantitative disclosures within the
statutory Strategic report. These disclosures are:
• UK energy use, to include as a minimum purchased electricity, gas and
transport;
• Associated greenhouse gas emissions measured as tonnes of Carbon
Dioxide emissions;
• At least one ‘intensity ratio’ that measures energy usage compared with an
appropriate business metric such as income, staff numbers, or student
numbers;
• Information about energy efficiency measures undertaken during the year;
• Methodologies used in calculating the disclosures.
• Required: Data capture and conversion of energy usage into
standard figures for Carbon Dioxide emissions
PKF FRANCIS CLARK: ACCOUNTS AND AUDIT

70.  MSCI data suggests that companies that have a
positive ESG rating are generally stronger, with
clearer long term strategies and investment plans
to achieve them.
 Current data demonstrates a rising demand for
investments that have a stronger consideration
for the long term with sound environmental, social
and governance oversight.
 Creation of 4 bespoke mandates in partnership
with LGT Vestra.
 Risk and target-aligned investment portfolios.
 Aligned to UN Sustainable Development Goals.
 A combined approach to a shared investment
goal: Eliminate certain industries, prioritise
sustainable practices, invest in positive impact.
FC FINANCIAL PLANNNING: SUSTAINABLE
INVESTMENT MANDATES
• How a company engages with
Environmental, Social &
Governance factors.
Sustainable: ESG
integration
• Companies that are solving global
challenges
Impactful: positive impact
• Aim to exclude specific industries
Responsible: negative
screening

71. • New, staff led initiative in Truro office (not
signed off by Partners yet!)
• Producing costed (RoI) proposals for reducing
carbon footprint:
• Office
• Transport
• Materials
• “Challenges” posted up to our intranet – say
one a month to (hopefully positively) influence
behaviour of colleagues (plus family etc.)
• External/ client engagement – to be decided
PKF FRANCIS CLARK…….. “GREEN TEAM”

72. Future events..
Future Truro breakfast briefings
• Family Business Connect
• Projections and Management Accounts – 1 April 2020 (postponed)
• Employee Ownership Trusts
• Other
• Export, Block chain, etc
Future breakfasts – Sector specific / one off
• Food and Drink – September/ October 2020
Other events hosted by PKF Francis Clark
• Budget 2020 – 12 March 2020
• Cyber Security – 18 March 2020
• Finance in Cornwall – 12 May 2020
• Festival of Finance – June 2020 (TBC)
Other events not hosted by PKF Francis Clark
• Mental Health Ultra – 21 March 2020 (closed for entries)
• Sustainability Conference – 12 May 2020
• Our Planet: Our Business – 21 May 2020
And do not forget our blog and events page

73. FINANCE IN
CORNWALL 2020
Date: 12 May 2020 [TBC]
Time: 8am to 1pm (followed by lunch)
Venue: Newquay Cinema
Theme: Juxtaposition / Transition from old
(grant) to new (debt and equity)
Covering (TBC):
• CIOS LEP – Local Industrial Strategy and
Great South West Prospectus
• Grants, Debt, Equity and Crowdfunding
• Business Support
• UK Shared Prosperity Fund
Image from BAIT courtesy of BFI

74. SUSTAINABILITY
CONFERENCE
Cornwall Chamber of Commerce
Date: 12 May 2020
Time: 1:45pm to 3:30am
Location: Newquay Cinema
Details and to book a space:
https://www.cornwallchamber.co.uk/events/details/sustaina
bility-conference-2020-5481

75. OUR PLANET: OUR BUSINESS –
SHOULD WE BE DOING MORE?
Institute of Chartered Accountants in England & Wales – South West
Society. Free to members; £10 to non-members.
Date: 21 May 2020
Time: 7:30am to 9am
Location: Exeter Racecourse
Details and to book a space:
https://events.icaew.com/pd/16318/our-planet-our-
business-should-we-be-
doing?st_t=364&st_ti=3151&range=21%2F05%2F2020&ret
urncom=productlist&source=search

76. Q&A
And then if time permits some networking/ one to one
questions

77. Francis Clark LLP is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the
actions or inactions on the part of any other individual member firm or firms.
01392 667000
Exeter
01722 337661
Salisbury
01823 275925
Taunton
01803 320100
Torquay
01872 276477
Truro
01752 301010
Plymouth
01202 663600
Poole
Bristol
0117 403 9800

78. © copyright PKF Francis Clark, 2019
You shall not copy, make available, retransmit, reproduce, sell, disseminate, separate, licence, distribute, store electronically, publish, broadcast or
otherwise circulate either within your business or for public or commercial purposes any of (or any part of) these materials and / or any services provided
by PKF Francis Clark in any format whatsoever unless you have obtained prior written consent from PKF Francis Clark to do so and entered into a licence.
To the maximum extent permitted by applicable law PKF Francis Clark excludes all representations, warranties and conditions (including, without
limitation, the conditions implied by law) in respect of these materials and /or any services provided by PKF Francis Clark.
These materials and /or any services provided by PKF Francis Clark are designed solely for the benefit of delegates of PKF Francis Clark.
The content of these materials and / or any services provided by PKF Francis Clark does not constitute advice and whilst PKF Francis Clark endeavours
to ensure that the materials and / or any services provided by PKF Francis Clark are correct, we do not warrant the completeness or accuracy of the
materials and /or any services provided by PKF Francis Clark; nor do we commit to ensuring that these materials and / or any services provided by PKF
Francis Clark are up-to-date or error or omission-free.
Where indicated, these materials are subject to Crown copyright protection. Re-use of any such Crown copyright-protected material is subject to current
law and related regulations on the re-use of Crown copyright extracts in England and Wales.
These materials and / or any services provided by PKF Francis Clark are subject to our terms and conditions of business as amended from time to time, a
copy of which is available on request.
Our liability is limited and to the maximum extent permitted under applicable law PKF Francis Clark will not be liable for any direct, indirect or consequential
loss or damage arising in connection with these materials and / or any services provided by PKF Francis Clark, whether arising in tort, contract, or
otherwise, including, without limitation, any loss of profit, contracts, business, goodwill, data, income or revenue. Please note however, that our liability for
fraud, for death or personal injury caused by our negligence, or for any other liability is not excluded or limited.
PKF Francis Clark is a trading name of Francis Clark LLP. Francis Clark LLP is a limited liability partnership, registered in England and Wales with
registered number OC349116. The registered office is Sigma House, Oak View Close, Edginswell Park, Torquay TQ2 7FF where a list of members is
available for inspection and at www.pkf-francisclark.co.uk. The term ‘Partner’ is used to refer to a member of Francis Clark LLP or to an employee.
Registered to carry on audit work in the UK and Ireland, regulated for a range of investment business activities and licensed to carry out reserved legal
activity of non-contentious probate in England and Wales by the Institute of Chartered Accountants in England and Wales. Partners acting as insolvency
practitioners are licensed in the UK by the Institute of Chartered Accountants in England and Wales. A partner appointed as Administrator or Administrative
Receiver acts only as agent of the insolvent entity and without personal liability. Francis Clark LLP is a member firm of the PKF International Limited
network of legally independent firms and does not accept responsibility or liability for the actions or inactions on the part of any other individual member
firm or firms.