Low carbon economy

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Supporting customer uptake of electric vehicles

Facilitating novated leasing and fleet transition to electric vehicles is a key focus for MMS and one way we contribute towards a low carbon economy.

We implement initiatives aimed at providing a compelling EV product offering and education for our novated and fleet customers to help them make informed sustainable decisions such as:

• Environmental performance reporting to fleet customers.
• Providing vehicle emissions intensity ratings on vehicle quotations (novated leases, fleet leases for passenger and light commercial vehicles).
• Driving awareness of the option to offset vehicle carbon emissions through our two partners Ampol and Greenfleet.
• Educational programs to reach our clients and customers via online, social media and direct mail as well as EV trials.
• Through our collaboration with NALSPA and the Electric Vehicle Council, we continue to work with our industry partners and policy makers to increase awareness of how current policies have impacted demand for EVs and share data and learnings to inform future policy.
• We released the Interleasing Grey Fleet Emissions Digital Logbook, simplifying and digitising grey fleet emissions reporting to give Australian businesses more accurate, reliable data and greater confidence in meeting their environmental reporting obligations.

Partnerships are integral to helping support our customers transition to electric vehicles. We partner with providers of EVs and related services and focus on partnerships that support access to vehicle supply, financing, charging hardware and software solutions such as:

• Partnering with one of Australia’s largest EV charging network providers to provide charging solutions to our fleet drivers. This enables drivers to charge their vehicles on the go while utilising 100% green power.
• Offering beneficial finance for zero and low emissions fleet vehicles through our financier relationships.
• Providing savings on home EV chargers via our partnership with an energy retailer when novated lease customers take up an EV through Oly.
• In GRS, we partner with a prominent industry leader specialising in home charging products and services.

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Reducing our operational impact

Our direct impact on the environment primarily relates to the operation of our offices and car yards. MMS uses the operational control approach to report our greenhouse gas emissions; this approach allows us to focus on emissions over which we can manage and reduce.

Our operational boundary in FY25 included our operations in Australia and New Zealand and incorporates all sub brands fully owned by MMS, except for My Plan Support, which was acquired by MMS in Q4 FY25. In FY24 MMS' greenhouse gas emissions (GHG) operational boundary included its UK operations up until its divestment of these operations in the first half of FY24. The impact of this change to MMS' operational boundary in FY25 was immaterial to MMS' measured scope 1 and 2 emissions. Our FY25 GHG emissions reporting is aligned with the first-year reporting requirements of the Australian Sustainability Reporting Standard AASB S2 Climate-related Disclosures (AASB S2) for entities to report their scope 1 and 2 emissions and obtain Limited Assurance over these disclosure requirements. For the second consecutive year MMS has obtained independent Limited Assurance for its measured scope 1 and scope 2 GHG emissions.

In FY25 we saw our measured net GHG scope 1 and scope 2 emissions reduce by 16% from FY24 and achieved the following:

• All our controllable sites are powered by 100% Greenpower or renewable electricity.¹
• 54% of our internal company car fleet are EVs.
• Achieved an average 5-star NABERS energy rating for our corporate leased office space.²
• Offset our scope 1 and 2 emissions and for the first time offset emissions associated with our business travel flights (scope 3).

Offsetting our emissions

For over 25 years Greenfleet has been planting native biodiverse forests in Australia and New Zealand to restore nature and capture carbon emissions. Carbon is stored in these reforested areas which are legally protected for up to 100 years.

This year MMS celebrated 10 years of partnership with Greenfleet by offering carbon offsetting to our fleet customers to help them reduce the impact of their vehicles on the environment. As a result, our customers have offset over 6,700 tonnes of emissions and have helped to plant native forests and restore ecosystems across Australia.

MMS offsets our scope 1 and 2 emissions and has offset over 3,000 tonnes of carbon since 2020. We recently extended our approach by also offsetting emissions associated with our flights.

^{1. Controllable sites are where MMS can choose the electricity provider using the existing building infrastructure.}

^{2. Includes all MMS corporate offices with 30 or more people (excludes Perth, Raymond Terrace and Just Honk car yards). FY25 excludes MMS’ Adelaide office due to building works which required our people to work from home for extended periods.}

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Managing climate-related risks and opportunities

In 2023, the Australian Government announced it would be adopting Climate-related Disclosures for Australian businesses. From 1 January 2025 the AASB S2 Climate-related Disclosures came into effect for eligible businesses. MMS has taken further steps towards compliance such as:

• Undertaking a review and revalidation of climate-related risks and opportunities that may impact MMS’ operations and reasonably impact MMS’ prospects.
• Establishing an internal Working Group with members from Risk, Finance, People, Culture and Communications, Business Units and Sustainability.
• Provide updates to the Audit, Risk and Compliance Committee on progress.
• Undertaken scenario analysis guided by external climate consultants.

The above steps build on the work MMS has already undertaken to understand climate-related risks and opportunities that may impact the MMS business. In 2022 we conducted a high-level climate-related risk and opportunity assessment, engaging independent climate change specialists. At the time MMS followed the Taskforce on Climate-related Financial Disclosures (TCFD) framework for disclosure. The TCFD has now been disbanded having fulfilled its remit.

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