SCOPE 3 CLIMATE CAPITAL CIC

Company Registration Number:
14681502 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 22 February 2023

End date: 28 February 2024

SCOPE 3 CLIMATE CAPITAL CIC

Contents of the Financial Statements

for the Period Ended 28 February 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SCOPE 3 CLIMATE CAPITAL CIC

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Directors

The director shown below has held office during the period of
30 September 2023 to 28 February 2024

Kristof Bulkai


The director shown below has held office during the whole of the period from
22 February 2023 to 28 February 2024

Chris Perceval


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
6 November 2024

And signed on behalf of the board by:
Name: Chris Perceval
Status: Director

SCOPE 3 CLIMATE CAPITAL CIC

Balance sheet

As at 28 February 2024

Notes 2024


£
Current assets
Cash at bank and in hand: 156
Total current assets: 156
Creditors: amounts falling due within one year: 3 ( 8,388 )
Net current assets (liabilities): (8,232)
Total assets less current liabilities: (8,232)
Total net assets (liabilities): (8,232)
Capital and reserves
Called up share capital: 1
Profit and loss account: (8,233 )
Total Shareholders' funds: ( 8,232 )

The notes form part of these financial statements

SCOPE 3 CLIMATE CAPITAL CIC

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 6 November 2024
and signed on behalf of the board by:

Name: Chris Perceval
Status: Director

The notes form part of these financial statements

SCOPE 3 CLIMATE CAPITAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SCOPE 3 CLIMATE CAPITAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024
    Average number of employees during the period 0

SCOPE 3 CLIMATE CAPITAL CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Creditors: amounts falling due within one year note

2024
£
Accruals and deferred income 238
Other creditors 8,150
Total 8,388

COMMUNITY INTEREST ANNUAL REPORT

SCOPE 3 CLIMATE CAPITAL CIC

Company Number: 14681502 (England and Wales)

Year Ending: 28 February 2024

Company activities and impact

The fundamental impact opportunity in focus for the CIC to accelerate the transformation of industry by galvanising a deeper commitment and level of support for solutions, so that they can gain market share and overcome financing barriers. The first year was spent on R&D designing the concept for a Scope 3 Market Mechanism that will enable faster, more efficient climate action through deep and connected value chains. The approach is focused on: Reducing cost of capital and driving positive tipping points for business models and technologies that go much further and deeper in driving decarbonisation outcomes. Developing ‘advanced mitigation commitments’, collaborations with multiple partners using contracts as a basis for strong and dependable action. Leveraging increased availability of high-quality company level data. Using sector pathways as quantitative baselines (e.g. emissions intensity of production) to benchmark performance and supplier eligibility. Launching a non-profit, technology enabled financing intermediary, with a shared governance and funding model that is designed for impact. Establishing a basis for credible claims aligned with the evolving architecture of climate finance standards and frameworks. We worked on the problem definition, market research, thought leadership, influencing the claims space, and seeking stakeholder feedback to refine the plan for engaging high impact sectors, solution providers who can drive value chain outcomes, banks, and the donor community.

Consultation with stakeholders

In the first half of 2023, we confirmed the foundational concepts and building blocks for the S3C approach and tested the ideas via a Steel Sector workshop hosted at the World Resources Institute’s (WRI) London offices. In the second half of 2023, we established a partnership with Linklaters and worked with an Advisory Council to start designing a template for ‘Sector Transition Acceleration Contracts’ (STACs). These standardised contracts can bring together multiple entities that determine the basis upon which to make commitments of either funding or action, in return for certain certified claims that can be made publicly. We have also started to develop a catalogue of impact case studies and a plan for engaging with eligible suppliers.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
6 November 2024

And signed on behalf of the board by:
Name: Chris Perceval
Status: Director