BDO

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Carbon per FTE (full-time-equivalent employee) — the diagnostic measure for people-leveraged businesses where headcount, not capital, drives delivery. Captures the office, energy and travel footprint per person.

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A Layout has committed to a 20-year lease for solar panels at Sydney and Toronto manufacturing plants, requiring CU1,000,000 upfront and CU50,000/year. Expected to reduce grid electricity by 90% in Sydney and 50% in Toronto. No virtual PPAs or RECs entered into; Group may consider such contractual instruments in the long term. Scope 2 reporting is location-based only.

The Group does not plan to use carbon credits in reaching its decarbonisation targets, as targets are based on gross GHG emissions rather than net. No DAC, BECCS, biochar, or nature-based removals disclosed. No internal carbon price applied in capital allocation decisions.

• Low-carbon product line development

  R&D underway on customisable monkey bars made from reclaimed metal, designed to be repairable, customisable and recyclable at end-of-life. CU250,000 spent on research in 2025; CU300,000 budget for short-term. Manufacturing equipment may need to be leased or acquired.

• On-site solar in own manufacturing plants

  Install solar panels on Sydney (90% grid offset) and Toronto (50% grid offset) plants within 12 months to reduce Scope 2 emissions and electricity costs. Expected 3-15% profit improvement over short, medium and long term.

• Sustainable raw materials sourcing (maple, beech, pulp paper)

  Entered 3-5 year forward contracts in 2025 for maple and beech timber. Plans to retrofit Toronto and Sydney manufacturing equipment (capex CU2.0-2.5M, 5-6 year horizon) to use alternative timbers. New Toronto production line (CU4M, financed 60% debt / 40% lease) to use post-consumer recycled paper pulp.

• End-of-life product redesign

  Changing paint and varnish used in wooden toy production so toys break down more quickly in compost. All plastic parts to be made from 100% recyclable plastic within 12 months. Driven by anticipated EU regulation requiring 70% of products to be recyclable or compostable.

• Recyclable packaging transition

  Plan to remove plastic packaging from all products within 3 years and replace with recyclable paper packaging. Working with third-party manufacturers to use recyclable plastic for all board game pieces within next 12 months. Driven by EU regulation on single-use plastic and polystyrene.