ESG

‍November 2025

Sustainability

During the year under review, we took action to deliver greater strategic direction and objectives to our firm's position on sustainability matters. This included an independent exercise to measure and report our carbon emissions baseline, undertaking a comprehensive stakeholder materiality assessment, and using these findings to inform our sustainability action plan, to be launched in the year ahead.

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Baseline carbon footprint for the year ending 31 March 2025

This was prepared independently and with the use of industry leading software. Calculation and presentation of the data is aligned to the Greenhouse Gas Protocol, an international standard that is considered best practice in the industry. Emissions are reported across Scope 1, 2 and 3.

• Blacks's Baseline footprint (Scope 1, 2 and 3) amounted to 294.81 tCO₂e
• Large emissions proportion (72.3%) from employee commuting
• Scope 1 and 2 emissions contribute 70.1% of emissions when employee commuting is excluded
• Emissions across scopes 1 and 2 are fairly equal (32.6% & 37.5% respectively)

Emissions

• Scope 1 – Stationary Combustion: 26.69 tCO₂e (9.1%)
• Scope 2 – Electricity (market‑based): 30.64 tCO₂e (10.4%)
• Scope 3 – Purchased Goods and Services: 0.05 tCO₂e (<0.1%)
• Scope 3 – Fuel and Energy‑Related Activities: 14.50 tCO₂e (4.9%)
• Scope 3 – Waste Generated in Operations: 2.92 tCO₂e (1%)
• Scope 3 – Business Travel: 6.85 tCO₂e (2.3%)
• Scope 3 – Employee Commuting: 213.16 tCO₂e (72.3%)
• Total Emissions: 294.81 tCO₂e

Methodology

The firm operated from three premises, one in Leeds and two in London.

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Consumption and emissions data have been calculated in accordance with the UK Government's GHG Reporting Factors, using the relevant conversion factors issued by Department for Environmental, Food and Rural Affairs (DEFRA). Where DEFRA factors were unavailable or insufficient for waste, ADEME Base Carbone factors were applied.

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Electricity consumption data is obtained from supplier invoices, while gas usage is calculated by obtaining the buildings total gas usage and prorating based on floor space occupied.

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Business travel emissions are based on mileage claims submitted by employees with supporting evidence provided for the journey undertaken.

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Commuter travel emissions are derived from employee mileage collected through an annual commuter survey. Any absent data was extrapolated to represent the full workforce.

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Waste data was collected from supplier invoices and water consumption data is obtained from meter readings and prorated based on floor space occupied.

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Our commitment to delivering stakeholder expectations

We are committed to embedding sustainability across our operations, culture, and client services. Our stakeholder materiality assessment highlighted the following areas of focus:

• Protecting Data & Embracing AI Responsibly: we maintain robust cybersecurity protocols, ethical AI adoption, and transparent data governance to safeguard client and stakeholder trust.
• Upholding Governance & Risk Management: with Lexcel accreditation and a dedicated ESG committee, we ensure high standards of compliance, ethics, and professional integrity.
• Fostering an Inclusive, People-Centric Culture: Diversity, Equality & Inclusion (DE&I), employee wellbeing, and staff development are central to our values. We promote flexible working, mental health support, and career progression for all.
• Engaging Stakeholders & Communities: we value transparent communication and long-standing relationships. Our community engagement is evolving from grassroots initiatives to more strategic, impactful partnerships.
• Reducing Environmental Impact: we will be expanding efforts in energy efficiency, waste reduction, and sustainable commuting. Our established carbon baseline will help guide future reductions.

Looking ahead

We are developing a formal Sustainability and ESG Action Plan with measurable KPIs, aligned with global frameworks such as GRI. Blacks is proud to be leading the way among regional firms, setting best practice in sustainability and ESG, and positioning ourselves for sustainable growth, stakeholder trust, and long-term value creation.