Turners 2024 Climate Related Disclosures

For the twelve months ending 31 March 2024
Climate-Related
Disclosure Report
2024

2 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
Contents

3 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
1. Introduction
1.1 Our Climate Disclosure
Turners Automotive Group Limited (TAG) is a climate-reporting entity under the Financial Markets
Conduct Act 2013 (FMCA). This document represents TAG’s first Climate-Related Disclosures (CRD)
report in relation to TAG and its subsidiaries for the reporting period 1st April 2023 to 31st March
2024 and constitutes TAG’s group climate statements in respect of that period under the FMCA.
This report complies with Aotearoa New Zealand Climate Standards 1, 2 and 3 issued by the
External Reporting Board. All figures and commentary relate to the full year ended 31st March
2024, unless otherwise indicated.
The field of climate-related risk management is still evolving, often relying on developing and
uncertain data and methodologies. Our statements reflect our understanding in respect of FY24 as
of 19 July 2024. This report includes forward looking statements relating to climate-related
scenarios, projections, forecasts, statements of TAG’s future intentions, estimates and judgements
that are inherently uncertain and subject to change in future reports. This report includes metrics
and targets that are based on estimates and assumptions which are uncertain and subject to
limitations, dependencies and potential barriers which mean they may not evolve as predicted.
Challenges relating to data inputs may change over time and impact uncertainty of projections.
TAG is committed to progressing towards our targets as outlined in this report, however due to
uncertain technological changes, economic factors and environmental changes, our targets and
strategies are subject to change. TAG cautions reliance on forward-looking statements that are
necessarily less reliable than other statements TAG may make in its annual reporting. TAG gives no
representation, warranty or assurance that actual outcomes or performance will not materially
differ from statements made in this report. We do not accept any liability whatsoever for any loss
arising directly or indirectly from any use of the information contained in this report. Nothing in this
report constitutes the Group’s financial, legal, tax or strategic growth guidance or advice.
For and on behalf of the Board. 19 July 2024.
For its initial climate-related disclosures, TAG has chosen these first-year adoption provisions:

4 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
2. Governance
2.1 Board Oversight
The Board holds overall responsibility for climate-related disclosure (CRD) governance, setting and monitoring
metrics/targets for managing climate risks and opportunities. The ARMS Committee, comprising three non-
executive Directors, oversees climate risk and opportunity management across the organization, guiding TAG's
transition toward a low-emission, climate-resilient future.
Climate considerations are integrated into all strategic decision-making processes, including property
investment due diligence. Climate Risk and Opportunity is a standing Board agenda item. Strategy is reviewed
and potentially reset annually, and at this time, the Board considers all risks and opportunities, including
climate-related ones. The ARMS Committee considers new or emerging risks for Board approval at the next
Board Meeting as appropriate.
The ARMS Committee meets at least quarterly, and members participated in climate change workshops
covering Strategy, Risks & Opportunities, Scenario Planning, Metrics, and Targets. Directors pursue climate
upskilling through the Institute of Directors and Chapter Zero Group. Board skills, including climate expertise,
are regularly reviewed and disclosed in the Annual Report.
In the reporting period, the Board met 12 times and the ARMS committee 10 times. The Board engages external
consultants as needed, including Deloitte for climate reporting obligations. Comprehensive records are
maintained, including a Training Register, Workshop minutes, and external consultant reports.
BOARD
EXECUTIVE & MANAGEMENT
OPERATIONS
Turners Automotive Group (TAG) Board
Establishes the purpose and strategic direction of the company, oversees and approves risk
management strategy and risk appetite and monitors progress against climate-related risks,
metrics and targets. All key climate-related risks and opportunities are reviewed by the Board.
Audit, Risk Management & Sustainability (ARMS)
A sub-committee of the Board, ARMS supports the Board in
overseeing risks and opportunities including climate-related
risks and opportunities and on the assurance of the CRDs in
relation to compliance with the NZ Climate Standards.
Group CEO & CFO
Overall accountability for actions and
commitments to embed climate
change into risk management, business
strategy and planning, budgeting
processes and frameworks. Includes
identifying, considering and monitoring
climate-related risks and opportunities
and reporting to the Board.
Executive Team
Members: Senior Leadership from each subsidiary company
Ensures the risks in each business area are identified, understood and managed and monitored
and escalated appropriately.
Operational Teams within the Business
At an operational level the identification and day-to-day management of climate-related risks are
dispersed throughout the Turners Automotive Group, by the local/regional leadership and
response teams.
Climate Working Group
Members: CEO, CFO, Compliance
Manager, Project Manager, Financial
Controller
Responsible for overseeing the Climate
Risk & Opportunity identification across
the organisation, preparing Climate
Related Disclosure, engaging with
experts required and presenting to the
Board.
2.2 Management’s Role
TAG's CEO and CFO hold ultimate responsibility for climate-related responsibilities. A dedicated Climate
Working Group, comprising of a Project Manager and team members with diverse expertise in areas such as
accounting, risk management, operations and compliance, meets weekly to manage climate risks and
opportunities. This is the primary mechanism by which management is informed about, makes decisions on
and monitors climate-related risks and opportunities. At each monthly Board meeting, progress reports from
the Climate Working Group are presented to both the TAG Board (which includes the ARMS Committee),
ensuring regular oversight at the highest level.
The Board allocates climate roles leveraging the ARMS Committee's risk management skills, who seek input
from subsidiary Financial Controllers as needed. Weekly meetings assess progress and plan actions,
maintaining a coordinated and well-informed climate change management process with transparency,
expertise integration, and continuous progress towards climate objectives.

5 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
3. Strategy
3.3 Approach to scenario analysis
The purpose of scenario analysis is to identify a range of plausible climate futures and assess the potential climate-
related risks and opportunities arising from them, informing our strategic planning process. TAG actively
participates in the Aotearoa Circle Transport Sector Climate Scenarios Working Group, enabling a wider
perspective and insight into industry best practices.
Deloitte facilitated an end-to-end scenario analysis and risk assessment process which were conducted through a
series of workshops designed to enable Turners to:
•establish the scope and boundary of the climate risk and opportunities assessment.
•determine the global warming scenarios (IPCC and NGFS) and the strategic time horizons against which to
test exposure to climate hazards.
•to identify, engage, and facilitate the Steering Committee to identify and rate the physical and transition
climate risk and opportunities that are currently impacting, and which are anticipated to impact Turners.
The Climate Working Group and ARMS Committee oversaw and was closely consulted throughout the process to
qualify the identified climate risks and opportunities. They also assessed and validated the assessment results.
Multiple iterative rating rounds were conducted, ensuring Turners had ample opportunity to test, evaluate, and
challenge the risk and opportunities assessment outputs. While scenario analysis was conducted as a standalone
process, these climate risks have been integrated into the company's established enterprise risk management
framework. No additional modelling was carried out beyond that reflected in the scenarios relied on above.
TAG has established climate-related time horizons as follows: short-term (2024-2030), medium-term (2031-2040),
and long-term (2041-2050) for its scenario analysis, risk assessment, strategic planning and capital deployment
plans. These also align with New Zealand's transport sector dynamics. These timeframes were selected as these
align with the varying timeframes our divisions operate within:
•The automotive division can quickly adapt to market changes due to rapid inventory turnover.
•Insurance and Finance divisions operate on short cycles, with the typical duration of finance contracts and
insurance policies at inception being 3-4 years.
•TAG business premises (both owned and leased) are typically occupied for terms of up to 20 years.
3.1 Current climate-related physical and transition impacts
Climate-related impacts during this reporting period were limited to:
•Physical impact: Extreme winds in September caused damage to awnings at
Turners Auto Retail Wellington Branch, with the costs of damage estimated at
$16,000.
•Physical impact: Although Cyclone Gabrielle and the Auckland Anniversary Day
floods occurred towards the end of FY23, the sale of flood-damaged vehicles from
these events in Auckland and Hawke's Bay took place in FY24, resulting in
increased revenue for TAG.
•Transition Impact: TAG adjusted its Japanese used car purchasing strategy in
response to changes in the Clean Car Policy Standard and discount regime, which
incentivised the import of low-emission vehicles and disincentivised high-emission
vehicles.
Business continuity remains a priority for TAG. The company has taken steps to
further strengthen its resilience as it develops an understanding of the risks and
opportunities presented by climate change, such as investing in back-up power
generators
3.2 . Current business model and strategy
TAG's business model is focused on making it easy for customers to buy, sell, finance
and insure their vehicle through TAG's trusted brands and businesses. TAG continues
to grow through additional retail branches, local sourcing, brand awareness driving
market share, and competitive advantage via technology advancements. TAG closely
monitors for upcoming climate-related policy changes that could affect its operations
and adapts its strategy accordingly. For example, policy changes affecting used car
imports. TAG has started on the journey of developing a transition plan as it gains a
deeper understanding of its climate-related risks and opportunities in what is an
evolving landscape.

6 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
3. Strategy
TAG assessed Transition risks referencing the scenarios provided by the Network for Greening the Financial System (NGFS), which include the Orderly, Disorderly and Hot house scenarios. A description of
these and the reasons selected are provided below.
OrderlyDisorderlyHot house
Short-term
Present day – 2030
Early implementation of policiesDelayed policiesCurrent policies – limited ambition
Physical: Low
Transition: Medium
Physical: Low
Transition: Low
Physical: Low
Transition: Low
Medium-term
2030-2040
Ambitious decarbonisation goals and policies are introduced
immediately, and emissions decline rapidly and steadily to halve
global emissions by 2030 and achieve net zero by 2050.
Significant decarbonisation is delayed until the mid-2030s. There is
high transition risk due to a global run-on resources in the 2040s, with
punitive policies and measures introduced to achieve net zero 2050
targets.
No additional policies are introduced to curb emissions, and
emissions continue to rise. Warming reaching >3°C.
Physical: Low
Transition: High
Physical: Medium
Transition: High
Physical: High
Transition: Low
Long-term
2040-2050
Net-zero target achieved
Relatively low exposure to physical climate-related risks. Exposure
to transition risks is high, early economic contraction followed by
strong growth and minimised social and economic costs.
Slight overshoot of net zero by 2050 target. High social and economic
costs are incurred, due to resources scarcity driven by demand shocks
and moderately higher exposure to physical risk.
Overshoot of net zero by 2050 target. Severe resource scarcity due to
supply shocks relating to climate events. Extreme exposure to
physical risks but limited exposure to transition risks.
Physical: Low
Transition: Low
Physical: Medium
Transition: Low
Physical: High
Transition: Low
This scenario is required as stipulated by XRB for “a 1.5 degree
Celsius climate related scenario”.
TAG considers this to be a more plausible scenario than NGFS –
Net Zero, and hence more relevant to ensure a meaningful range
for TAG’s risk assessment, modelling, and strategy.
This upper scenario was selected as NIWA has metrics for NZ.
NIWA will transition to SSP3-7.0 TAG is likely to also adopt this in
next year's report.
❖IPCC SSP 1- 1.9, 1.4 °C
❖NIWA RCP 1.9
❖NGFS – Net Zero by 2050
Policy
ambition
1.4°C
Policy
reaction
Immediate
and smooth
Technology
change
Fast
change
Carbon Dioxide
Removals
Medium-high
use
Regional policy
variation
Medium
variation
❖IPCC SSP 1 – 2.6, 1.8°C
❖NIWA RCP 2.6, 4.5
❖NGFS - Delayed Transition (1.6°C)
Policy
ambition
1.6°C
Policy
reaction
Delayed
Technology
change
Slow/fast
change
Carbon Dioxide
Removals
Low-medium
use
Regional policy
variation
High
variation
❖IPCC SSP 5 – 8.5, 4.4°C
❖NIWA RCP 8.5
❖NGFS - Current Policies Hothouse World – 3 °C+
Policy
ambition
3°C+
Policy
Reaction
None – current
policies
Technology
Change
Slow
change
Carbon Dioxide
Removals
Low
use
Regional policy
variation
Low
variation

7 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
3. Strategy
3.4 Climate risks and opportunities
Turners Automotive Group Limited engaged Deloitte to provide support adjacent to their
ongoing organisational climate related physical and transition risks and opportunities
assessment, as well as scenario analysis narrative development, to enable Turners to align with
existing leading practice, additionally TAG utilised in-depth sector related scenarios from The
Aotearoa Circle Transport Sector Climate Scenarios to provide additional context.
To varying degrees all TAG’s assets and activities are vulnerable to both physical climate risk
and transition climate risk.
The assessment performed was a qualitative climate risk assessment, in the form of workshop-
based brainstorming and activities designed to assist identifying and prioritising climate risks
and opportunities. This exercise identified 31 transition and 61 physical possible climate-
related risks for the TAG.
The process was facilitated via a series of workshops, leveraging NIWA’s downscaled climate
change projections for New Zealand to assess physical impacts and the Network for Greening
the Financial System (NGFS) data to assess Transition Risks, and by applying the methodology
provided by:
•The Ministry for the Environment's National Climate Change Risk Assessment
Framework.
•ISO 14091 2021 For the physical climate risk and opportunities assessment.
•The TCFD guidance (October 2021 for identifying and categorising transition risk and
opportunities).
It's worth noting that across all TAG’s entities, the rating of climate-related risks was
consistently low. Out of a total possible exposure and vulnerability score of 250, the
highest score recorded was 40.
Among the most significant risks identified were potential impacts on business
continuity and operational disruptions. These included flood-related site access
impairment and damage to premises. Phone and network outages were also identified
as significant risks. Additionally, the assessment identified potential impacts of wind
events on call-centres due to communication network outages, power outages, and
site access impairment caused by slips or fallen trees on roads and power lines. While
these risks already exist, they are expected to increase in frequency and severity over
the long term.
Material physical and transition climate related risk and opportunities are shown on
the following pages:

8 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
3. Strategy

9 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
3. Strategy

10 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
4. Risk Management
4.1 Processes for managing climate-related risks
The Risk Management section of our Climate Disclosure provides an understanding of how
our climate-related risks are identified, assessed, and managed and how those processes
are integrated into our existing risk management processes.
4.2 Climate - related risk tools and methods
This was TAG’s inaugural climate-related risk assessment following the process described in
the strategy section, for the same short, medium and long-term time horizons used for the
scenario analysis. All parts of the value chain identified for each division were considered for
both scenario analysis and risk assessment. TAG intends to repeat this assessment annually to
ensure the identified risks, opportunities, and management responses remain relevant,
comprehensive, and contribute to building resilience in our response to climate change.
The insights from this assessment are systematically documented in a risk register, considering
factors such as the likelihood of occurrence, sensitivity of exposure, and adaptability of at-risk
elements. The risk matrix is then utilized to categorize and prioritize risks based on their
severity. Scenario analysis, incorporating different climate projections, aids in exploring the
potential impacts of climate change.
This methodology enables TAG to make informed decisions and develop effective strategies to
mitigate climate-related risks. A comprehensive reassessment is planned every three years. In
the interim, any new risks and opportunities that arise are reviewed and added to the Risk
Register by the ARMS committee and reported to the Board as appropriate.
TAG's climate risks are maintained within the same framework as other risks, with all risks
being reviewed and prioritized by the ARMS committee. This ensures that, climate change risks
are evaluated using the same rigorous methodology as all other risks, enabling their
appropriate prioritization in accordance with the remaining unmitigated risks.

11 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
5. Metrics & Targets
5.1 Our Targets
The following goals and targets were published in our FY23 annual report. For transparency and
consistency, we’ve chosen to continue reporting our progress against them. We acknowledge that
these targets do not meet the criteria for the Science Based Targets initiative standards, and we have
not assessed their contribution to limiting global warming to 1.5 degrees Celsius. TAG isn’t currently
purchasing offsets nor investing in nature-based solutions.
Reduction in total aggregate emissions from vehicles imported by Turners.¹
Our target is to reduce the estimated annual aggregate emissions of Turners' total 'first time imports'
(FTI) vehicles sold to below 7,000 tonnes of CO2 by FY25. In FY24, the FTI emissions were 3,016 tonnes
of CO2. This represents an 85% reduction from the FY19 base year level.
Increase the proportion of Low Emitting Vehicles in the Turners Subscription fleet.²
In 2020, we launched Turners Subscription and, in partnership with EECA, we expanded our
subscription EV fleet. We currently have around 300 vehicles on subscription, of which about 180 are
EVs or Hybrids. There is high demand for these subscription cars, helped by the “try before you buy”
philosophy. Our target is to have Low Emitting Vehicles make up 50% of our Subscription fleet by FY25.
Reduce the average emissions from vehicles financed.¹
By assisting people to buy newer, lower-emitting cars, we are supporting a reduction in vehicle related
emissions. Since our FY19 base year, this measure have reduced year on year. Our target is a 25%
reduction in estimated average annual CO
2
emissions per financed vehicle by FY25 (from FY19 levels).
The estimated average annual emissions per vehicle financed for FY24 has reduced 16% from FY19.
Reducing operational emissions across our business.
Our target is to reduce absolute operational Scope 1 and 2 emissions by 20% by FY25 (from an FY23
base year). Primarily, this will be achieved by transitioning our company vehicle fleet to lower emitting
vehicles over time and by identifying opportunities to increase renewable electricity generation at our
premises.
¹ These targets are based solely on CO
2
tailpipe emissions, using carbon emissions data provided by the Energy Efficiency and Conservation Authority (EECA) and assumes an annual average distance travelled of 14,000km per vehicle. As this data set only covers CO
2

emissions, it does not include additional CO
2
e emissions as defined by the Greenhouse Gas Protocol, in particular, the data does not incorporate emissions from other greenhouse gases such as methane (CH
4
) or nitrous oxide (N
2
O) and does not account for emissions
from electricity consumption by plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). Turners has used this data set for a number of years, as it facilitates a direct match to unique vehicle identification numbers (matching accuracy: First time
Imports 99%, Vehicles financed 95%). Turners has elected to continue to report on this basis in the interests of accuracy, comparability and consistency.
²

Low emitting vehicles means Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV).
Year on year progress targetedYear on year progress achieved
Reduction in aggregate emissions from
vehicles imported and sold by Turners
by 10.2% in FY24.
Turners achieved a 43% reduction in the annual CO2
emissions (in aggregate) for vehicles imported in FY24 over
those imported in FY23 ¹
Note: this is an absolute target
Increase proportion of Low Emitting
Vehicles in Turners Subscription Fleet
to 50% in FY24.
As at March 2024, the proportion of Low Emitting Vehicles
(Hybrids and EV’s) in Turners Subscription Fleet has
increased to 59% from 18% in FY23 ²
Note: this is an absolute target
Target 5% reduction in average CO
2

emissions of vehicles financed in FY24
(vs FY23).
Turners has achieved a 6% reduction in the average
annual CO
2
emissions for vehicles financed in FY24 over
those financed in FY23 ¹
Note: this is an intensity target
Achieve a further 5% reduction in
operational (Scope 1 & 2)
Emissions in FY24.
Turners achieved a 1.5% reduction in absolute operational
Scope 1 and 2 emissions in FY24 from FY23. Turners
experienced significant growth in FY24. Using a revenue-
based intensity metric that takes this growth into account.
Turners achieved an 9% reduction in Scope 1 and 2
emissions per $M of revenue in FY24 compared to FY23.
Note: Recalculated using newest Ministry for the Environment 2024 emission factors.

12 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
5. Metrics & Targets
5.2 GHG emissions
The following GHG inventory has been prepared in accordance with GHG Protocol, utilising:
•Greenhouse Gas Protocol's Corporate Accounting and Reporting Standard
•Ministry for Environment – Measuring emissions: A guide for organizations.
TAG has used the operational control consolidation approach. Ministry for the Environment (MfE)
2024 emissions factors have been used in TAG's calculations.
TAG has embarked on developing a methodology, working with appropriately qualified
experts to determine the makeup of these emissions and how to engage with suppliers to
reduce them.
As TAG has such a diverse range of operations, there are significant hurdles in identifying
emissions in many of the categories, including:
•Category 1: Purchased goods and services.
•Category 2: Capital Goods.
•Category 11: Use of sold products.
•Category 15: Investments.
Given the complexity of the scope 3 calculations, there is considerable work ahead. In the
coming year, TAG aims to deepen its understanding of its Scope 3 emissions profile and
improve the quality of the data and assumptions used in its calculations. TAG plans to
disclose its Scope 3 footprint in next year's climate-related disclosure.
Emissions (tCO
2
e)FY23FY24
Scope 11,3381,315
Scope 2144146
Total Reported Emissions1,4821,461
tCO
2
e (Scope 1 and 2) per $1m of Sales Revenue3.803.50
5.3 Scope 3 Emissions
Given the nature of the sector in which TAG operates, scope 3 emissions make up the
majority of TAG's overall emissions profile. These emissions are difficult to measure and
influence, due to their variability and being outside TAG's direct control, spanning complex
supplier networks.

13 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
5. Metrics & Targets
5.4 Other Metrics and Targets
•TAG does not currently use an internal emissions price.
•During FY24 TAG has not made any investments that specifically address climate related risks or opportunities, nor allocated any specific capital expenditure or financing.
•TAG has not currently assessed any of its assets or business activities as being specifically aligned with climate-related opportunities.
•Management remuneration (compensation) is not directly linked to climate-related risks and opportunities. As TAG’s understanding of climate-related risks and opportunities evolves, and a
clear roadmap and transition plan are developed, consideration will be given to explore the appropriate weighting that climate-related factors should have on overall management
remuneration.
5.5 Inclusions, methodologies and uncertainties
With regards to metrics and targets, TAG has utilised the exemption provisions 4, 6 and 7 in NZ CS-2 for 2024, this being our first reporting year as a Climate Related Entity.
SCOPE 1
Mobile combustion emissions from motor vehicles and forklifts are calculated from fuel purchase transaction history and conversion
factors Global Warming Potential (GWP) from MfE guidelines 2024. The vast majority of Scope 1 fuel is based on actual volumes
purchased; for the remainder, fuel volume has been estimated based on spend. Accuracy has therefore been estimated at 98%.
Fugitive emissions from refrigerants used by refrigeration equipment have been deemed immaterial, primarily using the Top Up method
and have a low uncertainty (refer appendix 6.4 for more detail).
SCOPE 2
Purchased energy emissions from electricity consumption are calculated from electricity providers’ invoices by operating location. The
location-based method with high-quality data is used, resulting in low uncertainty due to complete invoice sets (refer to Appendix 6.6
for more detail).
SCOPE 3
Scope 3 emissions not included in this first year’s report – NZ CS-2 adoption provision 4.

14 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
6. Appendix
This section provides additional information on the key parameters used within the
disclosure, including:
•information about methods and assumptions used in the disclosure.
•sources of emission factors and conversion factors.
•sources of reference for scenario narratives.
6.1 Operating Entities
TAG is a dual-listed (NZX/ASX: TRA), its primary operating country is New Zealand, with EC
Credit having a presence in Australia. The following operating companies were included in
scope for this group climate statement:
6.2 Organisational Boundary and Scope
The organisational boundaries used for this reporting include all operating entities owned by TAG. GHG
emissions for these entities are calculated based on operational control, using the methodology
described in the GHG Protocol.
The scope for the financial period FY24 is 01/04/2023 - 31/03/2024 for the reporting controlling entity
Turners Automotive Group Limited.
6.3 TAG Group Reporting - Scope
TAG is comprised of multiple companies. Where possible, emissions have been calculated and recorded
for each company without exclusions. However, the accounting for some companies is combined as
they share offices and resources. This ensures comprehensive and accurate emissions reporting without
double-counting.
Turners Property Holdings (TPH)
Turners Property Holdings is responsible for property development; however, construction is carried
out by third-party contractors, without TPH having any direct control over emission sources. Therefore,
the associated emissions from these activities have been categorised as Scope 3 under C2 capital goods.

Carly NZ Limited (Turners Subscription)
TAG doesn't include emissions from vehicles out on lease in its Scope 1 emissions, as it is using
Operational Control as the boundary. Since Turners Subscription doesn't directly control how often or
for how long lessees use these vehicles, the emissions from their fuel consumption are classified as
Scope 3, in accordance with Appendix F of the GHG Protocol Standard.
Company within the GroupNZ Company Number
Turners Automotive Group Limited247933
Turners Group NZ Limited73426
Turners Fleet Limited101812
Turners Property Holdings Limited1221406
Carly NZ Limited7868816
DPL Insurance Limited25150
Oxford Finance Limited525530
EC Credit Control (NZ) Limited639706
AUS Company Number
EC Credit Control (AUST) Pty Ltd160747133

15 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
6. Appendix
6.4 Scope 1 Reporting considerations
Scope 1 – Staff / Pool Car Fuel
For Scope 1 fuel consumption, company vehicle usage and distance travelled are not
available, but the amount of petrol and grade of petrol are known from Fuel Card statements
which are used to calculate emissions.
LPG used in Turners Forklifts was purchased by kg from ELGAS. For conversion to litres, the
conversion factor published on ELGAS’s website was used (1kg = 1.969 litres).
Scope 1 Emission factors were sourced from the Ministry for the Environment "Measuring
Emission Guidance Emission Factors Workbook 2024", as below.
Scope 1 – Bulk Purchase Fuel
At most of its branches, Turners Auto Retail purchases bulk fuel, which is stored in on-site tanks.
The majority of vehicles arrive with minimal fuel levels. Once in inventory, these vehicles undergo
fuel top-ups with petrol or diesel to facilitate various activities, including on-site movements,
transportation to repair facilities, customer test drives, and providing sufficient fuel for customers
to reach a gas station after purchase.
Scope 1 – Refrigerants
TAG doesn’t operate any cold stores, refrigerants are used within offices devices only, these
include, fridges, water coolers, air conditioners/heat pumps (HVAC).
The emissions from refrigerants have been deemed immaterial via the prescribed screening
process
1
.
Scope of refrigerant emissions evaluation for screening purposes:
HVAC (Heating, Ventilation, and Air Conditioning) systems have been included in our emissions
calculations only for sites where we maintain and operate the units. For many of our leased sites,
the HVAC units are owned and maintained by third parties, which fall outside our operational
control. However, for sites owned or maintained by TAG, the HVAC units have been accounted
for. Additionally, emissions from other devices utilizing refrigerants, such as water coolers and
refrigerators across all our sites, have been included in the screening calculations.
For all but 2 of our owned sites, the HVAC maintenance records show no top-up of refrigerant
was used. For the remaining 2 sites, the CO
2
e emissions for refrigerants has been calculated for
screening purposes only, using Method C
1
(using estimation for both the volume and leakage rate
of the refrigerant). On this basis, the estimated CO
2
e emissions are less than 3 tonnes CO
2
e,
which is ~0.2% of scope 1 emissions, and therefore deemed immaterial, i.e., less than 5% of total
Scope 1 emissions.
1
Ministry for the Environment - Measuring emissions: A Guide for organisations (2024 detailed guide)
Transport FuelsUnitKg CO
2
e
Regular Petrollitre2.373
Premium Petrollitre2.407
Diesellitre2.678
LPGlitre1.618
TAG cannot accurately differentiate the specific usage of the purchased fuel, but as fuel is added to
vehicles under the company's control, the associated emissions from this purchased fuel have been
categorized as Scope 1 emissions. The vast majority of Scope 1 fuel is based on the actual volumes
purchased; for the remaining fuel, the volume has been estimated based on spend.

16 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE
6. Appendix
6.5 Scope 2 Reporting considerations
Scope 2 emissions are calculated using the location-based method, from electricity
consumption taken from the electricity provider’s invoices for each site. Electricity
consumption for our two Data Centres is metered and reported by the third-party
provider.
CO
2
e emission factors for NZ purchased electricity was calculated using guidelines
and emission factor set out in the Ministry for the Environment - Measuring
emissions: A Guide for organisations (2024 detailed guide) using the emission
factors as below:
EC Credit Control Australia (ECCC AU) offices are in Sydney NSW. Their Scope 2
purchased electricity was calculated using the emission factor (NSW) 0.73kg/kWh
from Australian National Greenhouse Account Factors, February 2023, Table 1 (as
below):
6.6 Reference sources for scenarios
The scenario narratives used by TAG used the following sources for reference.
1.NIWA, Projected regional climate change hazards Projected regional climate change hazards .
2.Task Force for Climate-related Disclosures (2017). Recommendations of the Task Force on Climate-
related Financial Disclosures –Final Report: pages 5 –7. FINAL-2017-TCFD-Report-11052018.pdf
(bbhub.io).
3.The Shared Socioeconomic Pathways and their energy, land use, and greenhouse gas emissions
implications: An overview -The Shared Socioeconomic Pathways and their energy, land use, and
greenhouse gas emissions implications: An overview –ScienceDirect.
4.IPCC, 2021: Summary for Policymakers. In: Climate Change 2021: The Physical Science Basis.
Contribution of Working Group I tothe Sixth Assessment Report of the Intergovernmental Panel on
Climate Change [Masson-Delmotte, V., P. Zhai, A. Pirani, S. L. Connors, C. Péan, S. Berger, N. Caud,
Y. Chen, L. Goldfarb, M. I.Gomis, M. Huang, K. Leitzell, E. Lonnoy, J.B.R. Matthews, T. K. Maycock, T.
Waterfield, O. Yelekçi, R. Yu and B. Zhou (eds.)]. Cambridge University Press.
5.Bodeker, G., Cullen, N., Katurji, M., McDonald, A., Morgenstern, O., Noone, D., Renwick, J., Revell, L.
and Tait, A. (2022). Aotearoa New Zealand climate change projections guidance: Interpreting the
latest IPCC WG1 report findings. Prepared for the Ministry for the Environment, Report number CR
501, 51p.
6.NGFS, Climate Scenarios Database Technical Documentation V3.1, September 2022.
7.Climate change projections and impacts for Taranaki, Taranaki Regional Council, April 2022.
Purchased energy emission factors – Electricity used annual average
Emission sourceUnitKg CO
2
e
2023kWh0.0728917
2022kWh0.0772253
State, Territory or grid descriptionScope 2 Emission Factors
kg CO
2
e/kWhkg CO
2
e/Gj
New South Wales and Australian
Capital Territory
0.73202

17 • TURNERS AUTOMOTIVE GROUP FY24 CLIMATE DISCLOSURE