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Strategic report
OCU Group | Annual report and financial statements 2025
Governance
Financial statements
SECR statement for accounting period May 2024 – April 2025 Reporting and performance
Climate-related Financial Disclosures In the UK, the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 mandates that organisations report in accordance with the TCFD recommendations and associated guidance. Continuous feedback from shareholders and stakeholders is also sought to adopt best practices and further refine our reporting. OCU has thoroughly considered the impacts of climate change in the preparation of our financial statements as of 30 April 2025.
OCU Group is dedicated to adhering to the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations, seamlessly incorporating them into our reporting and strategic planning. This dedication guarantees that OCU Group maintains transparency and accountability in its climate- related disclosures, offering stakeholders clear and consistent insights into our climate-related risks and opportunities. Governance Our established structure allows for the appropriate governance around climate‑related risks and opportunities. Our ESG Committee oversees our TCFD responsibilities and delegates the assessment of our risks and opportunities, and the preparation of the necessary disclosures, to the ESG Taskforce. This is then provided to the Board via the ESG Committee. The Board has ultimate responsibility for risk management. This includes oversight of climate-related risks and opportunities which are then devolved to the Audit & Risk Committee. By consistently enhancing our governance practices and aligning them with global standards, we showcase our dedication to sustainable and responsible business operations. The governance activities and initiatives detailed in this section illustrate our proactive approach to navigating the complex challenges and opportunities in today’s business landscape, ensuring the Group’s resilience and competitiveness. Strategy OCU Group is strategically positioned to generate opportunities through the UK Government’s commitment to achieving net zero by 2050. Specifically, the transition in the energy sector offers significant revenue opportunities for the Group, many of which are incorporated into our 2025/26 budget. Key initiatives include: • OCU Connect: Launched in this financial year, OCU Connect combines the expertise of Integrum, Hornbill and Modus into a dedicated unit focused on energy connection projects including EV charging and solar. • Battery energy storage systems (BESS): OCU provides comprehensive services for BESS projects and programs, including design, construction, commissioning and monitoring of electrical infrastructure and substation control systems. Notable work includes Ferrybridge, providing 300MWh of storage. • Renewable energy projects: We continue to expand our portfolio in renewable energy, with many projects and programs now also being delivered in the Scottish region, such as large wind farm delivery. • Water infrastructure: We’ve seen significant expansion in establishing AMP8 water frameworks and projects, with organic growth achieved through prior investments in technology, plant, and people. In May last year, we formally committed to setting our own net zero and near-term targets through the Science Based Targets initiative, ensuring we achieve net zero no later than 2050. We will be setting and submitting our targets for verification to the SBTi during this financial year.
Our approach to the TCFD framework
Thematic areas
Recommendations
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Disclose the organisation’s governance around climate-related risks and opportunities. Disclose the actual and potential impacts of climate‑related risks and opportunities on the organisation’s businesses, strategy and financial planning where such information is material. Disclose how the organisation identifies, assesses and manages climate‑related risks. Disclose the metrics and targets used to assess and manage relevant climate‑related risks and opportunities where such information is material.
Governance
See page 77
Strategy
See page 77
Risk management
See page 78
Metrics and targets
See page 82
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