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CLIMATE AND ENVIRONMENTAL IMPACT

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ON THE ROAD TO CLIMATE NEUTRALITY

Like any organization, the Agora Group also affects the climate through greenhouse gas emissions from its direct activities, including burning f uel in facilities or cars, using electricity in offices, generating waste, and producing newspapers, books or advertisements.

Given the nature of the company's operations and the industry in which it is present, Agora's team defined the primary areas of the Group's direct impact on the climate. The actions we are taking to reduce our negative impact on the climate and the environment are:

investing in renewable energy sources (RES);
reducing wastewater and waste production;
reducing water consumption;
building public awareness of climate change and pro-environmental attitudes.
non-renewable energy consumption;
water consumption and wastewater generation;
wastewater and waste production;
management of waste and secondary raw materials;
consumption of natural resources for production purposes.

The measures Agora is taking to reduce our climate and environmental impact are:

investing in renewable energy sources (RES);
reducing wastewater and waste production;
reducing water consumption;
building public awareness of climate change and pro-environmental attitudes

Increase in generated electricity produced by a photovoltaic installation owned by Agora S.A.

That's how much CO₂ in the atmosphere was reduced in a year thanks to the AMS green shelter system.

thou. zł.

Funds raised in the “Advertising for the Climate” campaign credited the account of the Natural Heritage Foundation.

ENVIRONMENTAL AREA MANAGEMENT

DEKARBONIZATION PLAN
ENVIROMENTAL POLICY
AMS'S ENVIROMENTAL STRATEGY
SCENARIO ANALYSIS
CLIMATE RISKS AND OPPORTUNITIES
CARBON FOOTPRINT
CIRCULAR ECONOMY

Agora's Climate Change Mitigation Transformation Plan includes a series of activities focused on mitigating negative environmental and climate impacts and promoting environmentally friendly behavior both within the organization, in society and in the business environment. It takes into account the transition to a sustainable economy and limiting global warming to 1.5°C in line with the Paris Agreement and the goal of achieving climate neutrality by 2050.

In 2023, in order to assess Agora's knowledge of its climate impact and to verify its existing knowledge in this area, it embarked for the first time on a CDP study [RESULT]. Preparing the CDP report helps to monitor and measure progress, but also to position it against the industry in question, both in Poland, Europe and globally.

Agora has an “Agora S.A. Environmental Policy”, which is an internal document describing the organization's existing approach to managing environmental issues. Since 2022, the policy has been revised to eventually become “Agora S.A. Environmental and Climate Policy”, recommended to all Group companies. The amendment process was synchronized with work on the Agora Group's Sustainable Development Strategy for 2023-2027, in which the Agora team sets specific goals in the environmental area, including setting out a plan to reduce greenhouse gas emissions in the coming years and to take the steps necessary to implement the circular transformation process.

October 11, 2023. AMS, a leader in Out-of-Home advertising, has announced its environmental strategy for 2023-2027. As part of it, the company plans to intensify its existing efforts to reduce its carbon footprint across the value chain, develop green urban infrastructure and implement closed-loop economy solutions for advertising materials. This is the first document of its kind in the Polish OOH industry.

As part of the strategy, AMS will focus on three key areas, as defined by the UN's Agenda 2030. These include the development of green urban infrastructure and the implementation of smart city ideas (Goal 11), the implementation of closed-loop economy solutions (Goal 12), as well as the creation of low-carbon advertising solutions (Goal 13).

These goals include:

offering advertising based on energy from low- and zero-emission sources, investment in energy-efficient lighting of advertising media, and emission offset projects, including green energy sources;
development of green urban infrastructure by, among other things, expanding the largest system of EKO AMS shelters in Central and Eastern Europe to 400 units; further reduction of light smog through light intensity control;
implementation of closed-loop economy (GOZ) solutions in the production and use of advertising materials, including posters.

In 2022. The Agora Group conducted a scenario analysis to examine the resilience of the Agora Group's business model to climate change under 2 different climate change scenarios (Paris-aligned and Paris-missed) in the short, medium and long term. Thanks to this analysis, the Agora Group's Management Board has knowledge of possible scenarios for the course of events and changes, which it will use in making strategic decisions.

The 2 climate change scenarios adopted were developed on the basis of the IPCC's Climate Change 2021 report and the 2022 World Energy Outlook (IEA):

SCENARIO 1: PARIS-ALIGNED

SCENARIO 2: PARIS-MISSED

The scenario assumes the implementation of the Paris Agreement (reducing GHG emissions at a rate that allows the earth's average temperatures to remain within 2 °C), which means that climate change will be contained at a relatively safe level.

This scenario is the result of a merger of the IPCC SSP1-1.9 scenario and the IEA Net Zero Emissions by 2050 Scenario (NZE).

This scenario predicts that the pace of GHG emission reductions will be inconsistent with current UN member state declarations (including failing to meet the Paris Agreement targets) and, as a result, climate change will reach the levels predicted by science in the mid-21st century.

This scenario is the result of a merger of the IPCC SSP5-8.5 scenario and the IEA's The Stated Policies Scenario (STEPS).

Main conclusions of the scenario analysis for the Agora Group

Relatively safe level of resilience in the short term

Relatively safe level of resilience in the medium term, provided appropriate adaptation measures are taken

Medium level of resilience over the long term (greatest challenges in the areas of raw materials and materials and waste management)

Relatively safe level of resilience in the short term

Relatively secure level of resilience in the medium term, with dynamically increasing challenges (primarily in the areas of logistics)

Medium level of resilience in the long term, with critical challenges in several areas (logistics, lack of raw materials or decline in demand for catering-type services)

Methodology

A qualitative scenario analysis was conducted in cooperation with the external consulting firm MATERIALITY, according to the SA:CCR Scenario Analysis: Climate-Change Resilience method.

The analysis covered 11 groups of issues that corresponded to key stages of the Agora Group's value chain: mineral raw materials, paper, printing (posters, dailies, magazines, records and books), supply logistics, energy and fuels, network (cinemas, foodservice and outdoor advertising), logistics to network (foodservice, cinemas, e-commerce and outdoor advertising service), customers (consumers, readers, listeners, users) and waste.

The analysis was conducted for 3 time horizons: short (2023-2025), medium (2026-2035) and long (2036-2050).

The analysis focused on the geographic regions with the highest importance for the operation of the Agora Group's value chain, i.e. Europe

In 2021, the Agora Group identified and analyzed climate risks and the resulting threats and opportunities. The study was conducted in cooperation with the external consulting company MATERIALITY in accordance with the AXIS methodology (Amplification, eXclusion, Intensification, Seizure) and included three stages:

Analysis of material climate risks in the group of companies comparable to the Agora Group;
A questionnaire survey covering the Management Board and management staff of all operating segments of the Agora Group;
Calculation of results and categorization of identified risks, threats and opportunities.

Threats and opportunities were examined in terms of three parameters:

The probability (likelihood) of occurrence of risks, threats and opportunities;
The magnitude, i.e. the weight of potential negative consequences (in the case of threats) or the scale of potential benefits (in the case of opportunities);
The time horizon in which they can occur.

The study covered 28 physical and transformational risks, covering a total of 31 threats and 23 opportunities related to climate change. The risks, threats and opportunities, the probability or severity of which exceed the threshold values, were considered significant.

As a result of the analysis, the following were classified:

5 opportunities and 4 threats to category A (Amplification);
15 opportunities and 19 threats to category X (eXclusion);
1 opportunity and 4 threats for category I (Itensification);
2 opportunities and 4 threats for S category (Seizure).

In accordance with the methodology used, 2 opportunities and 4 threats were classified as S (Seizure), which means that they were considered material and subject to active management. Threats and opportunities belonging to categories I (Itensification) and A (Amplification) are monitored and, in selected cases, managed. Most of the threats and opportunities belonging to category X (eXclusion) could be omitted or just roughly monitored by Agora. Conclusions from the conducted research on climate risks will be incorporated into the risk management system functioning in the Agora Group. Further monitoring and identification of risks related to climate change will be carried out periodically as part of the risk review.

Map of opportunities and threats related to climate change in the Agora Group

Risks	Threat / opportunity	Time horizon	Governance
Long-term physical risks
Epidemic Risks	The threat of an increase in the frequency of epidemics and pandemics.	Short-medium	Maintain the crisis management procedures and business continuity plan and build on the experience of the COVID-19 pandemic period in 2020 and 2021.
Transformational risks
Risks	Threat / Opportunity	Time horizon	Governance
Technological risks
Digitisation risks	An opportunity to use advanced analytics and artificial intelligence in product and service development. Opportunity to increase revenue due to changes in demand for online promotion.	Short-medium	Continuing to work in the area of digital innovation, developing Big Data services and continuing to use artificial intelligence in the services and products offered. Development of activities that will increase revenues from the Agora Group's online activities.
Risk of Emissions from Energy Sources	The threat of Poland's continuing high-carbon electricity mix.	Short-medium	Development of measures to optimise electricity consumption and focus on improving energy efficiency. Analysis of investment opportunities in own renewable energy sources.
Market risks
Risk of Increase in Prices of Raw Materials and Services	The threat of increased costs for raw materials, materials and services caused by other climate risks.	Short-medium	Optimising the use of raw materials and launching projects in the area of the circular economy. Developing long-term relationships with suppliers of key raw materials, materials and services and working closely together to reduce the use of virgin raw materials.
Risk of making access to finance contingent on addressing the climate crisis	Risk of lack of or reduced access to finance if banks or investment funds or insurers do not meet their expectations in addressing the climate crisis.	Medium	Aligning the Agora Group with the expectations of financial institutions in reporting on climate change issues and implementing GHG emissions monitoring. Begin work on Agora Group's ESG strategy and climate policy and preparatory work to establish relationships with rating agencies and ESG data providers.

Greenhouse gas emissions are calculated in the Agora Group starting in 2021 and are calculated according to the standards and methodologies of The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard Revised Edition and GHG Protocol Scope 2 Guidance. Organizational boundaries include all companies in the Agora Group. Operational boundaries include Scope 1 emissions, i.e., emissions related to the direct use of fuels in buildings, vehicles and facilities owned or controlled by the Group and emissions related to refrigerant volatilization, and Scope 2 emissions, i.e., indirect emissions related to the Group's consumption of purchased electricity and thermal energy. Calculations for Scope 2 were made according to two methods: location-based and market-based. For the location-based method, electricity consumption was multiplied by the average emission factor for Poland in 2022. On the other hand, in the calculation of the market-based method, energy consumption attributed to individual sellers was multiplied by the emission factor published/reported by those energy sellers. In cases where no specific energy seller was given, energy consumption was multiplied by the average for Poland. When calculating greenhouse gas emissions for thermal energy, the market-based method was used and the emission factor for Poland was averaged.

In 2022. Agora Group for the first time estimated and calculated Scope 3 GHG emissions, i.e. all indirect emissions along the value chain.

Detailed information can be found in "The 2023 ESG Report of the Agora S.A. Group".

The Agora Group's ESG Strategy 2023-2027 describes an operational objective related to sustainable waste management. This objective describes activities to increase the percentage of waste sent for reuse or recycling across the Group. In 2025, the percentage target is to be 65%, and in 2027. - 75%.
The strategy also identifies a goal linked to product life extension, which consists of two measures of goal achievement:

Develop a GOZ Roadmap - a plan to implement and then carry out the implementation of closed-loop economy principles in possible areas of the Agora Group. The design of this process is scheduled for late 2024 and early 2025.
Implementation of GOZ Roadmap projects in all segments of the Agora Group. In 2023, cyclical implementation of the goal in the following years is planned.

Contact us

RESPONSIBLE BUSINESS

ESG Department
Agora S.A.
Czerska 8/10 street
00-732 Warsaw

esg@agora.pl

Justyna Przybył

Head of Sustainability & ESG
justyna.przybyl@agora.pl

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CLIMATE AND ENVIRONMENTAL IMPACT

ON THE ROAD TO CLIMATE NEUTRALITY

ENVIRONMENTAL AREA MANAGEMENT

Relatively safe level of resilience in the short term

Relatively safe level of resilience in the medium term, provided appropriate adaptation measures are taken

Medium level of resilience over the long term (greatest challenges in the areas of raw materials and materials and waste management)

Relatively safe level of resilience in the short term

Relatively secure level of resilience in the medium term, with dynamically increasing challenges (primarily in the areas of logistics)

Medium level of resilience in the long term, with critical challenges in several areas (logistics, lack of raw materials or decline in demand for catering-type services)

Methodology

Risks

Threat / opportunity

Time horizon

Governance

Long-term physical risks

Market risks

Contact us

RESPONSIBLE BUSINESS

Justyna Przybył

Social impact