Phoenix Group, Phoenix Group, a long-term savings and retirement business with over £295 billion of assets under administration, wanted an inspiring reporting suite that tangibly showed their purpose in action. Key to this was reimagining their sustainability reporting and narrative – to ensure regulatory compliance, provide decision-useful insights, and inspire all readers.
Our Role
- Sustainability
- Reporting
Time for a reimagining
Phoenix Group wanted their sustainability reporting to be simplified, ready for regulation, easy to navigate for stakeholders and to tell their story effectively. It was time for a reimagining.
A roadmap for the future - year one
We developed a three-year roadmap to guide Phoenix Group’s reporting evolution. In year one, we rationalised content, clarified the sustainability messaging hierarchy and defined a fresh sustainability proposition linking purpose to strategy. We then restructured the opening of the Sustainability Report to bring their refreshed narrative to life, while streamlining by introducing an ESG databook.
A roadmap for the future - year two
In year two, we streamlined the suite by removing the Climate Report, integrating disclosures into the Sustainability and Annual Reports, and adding a new “Sustainability Review” section in the Annual Report. Meanwhile, the Sustainability Report became digital-first, interactive and more engaging.
A significant step-change
By starting with a 3-year roadmap, we ensured senior internal alignment and buy-in; this laid the foundations for a significant step-change in Phoenix Group’s sustainability reporting year-on-year. Testament to this step-change, the 2023 Sustainability Report won Bronze for Best Communication of Sustainability at the Corporate and Financial Awards. Meanwhile, the reconfiguration of sustainability disclosures in the 2024 reporting suite contributed to an increased score across Phoenix Group’s key ESG ratings.
