GRI STANDARD	DISCLOSURE	RESPONSE
GRI 2: General Disclosures 2021	2-1 Organizational details	The Conduit HoldCo Limited is a Limited Company. The registered address is 9 Bonhill Street, London EC2A 4DJ. Learn More
	2-2 Entities included in the organization’s sustainability reporting	As at the end of 2023 Conduit HoldCo Limited (HoldCo) operated with two subsidiary entities – The Conduit Club London (CCL) and The Conduit Club Oslo AS (Oslo). The Oslo club opened in November 2023 so only HoldCo and CCL are included in this report. Oslo will be reported on from 2024. This disclosure will be updated soon with a link to our 2023 financial accounts.
	2-3 Reporting period, frequency and contact point	Our reporting cycle is annual and we report in line with our financial year which runs concurrent with the calendar year. This report covers January – December 2023.
	2-4 Restatements of information	None
	2-5 External assurance	We recognise the importance of accurate and credible data. CCL is financially audited by Hayes MacIntyre. Conduit HoldCo will be audited from 2024 for 2023. For our carbon emissions, we work with OAK Network to monitor our energy usage and Our Carbon to independently audit our carbon emissions. Carbon Report
	2-6 Activities, value chain and other business relationships	Our main sector of operations is hospitality. The services we provide are predominantly for our members and include workspace, cultural and impact programming and food and beverage (F&B) offers. In both our London, and newly opened Oslo, clubs we are working towards becoming a demonstration model of best practice in sustainable hospitality. Through this lens, our most significant value chain relationships are with our F&B suppliers.
	2-7 Employees	At end December 2023, The Conduit had a total of 95 staff across Conduit HoldCo and CCL. Employee Breakdown
	2-8 Workers who are not employees	At end December 2023, The Conduit had 4 workers who were not employees. These were consultants delivering ad hoc project based work.
	2-9 Governance structure and composition	As set out in our articles of association we have a non-executive board including investor representation that provides robust oversight and accountability and to which the senior executive team, comprising the CEO, CFO, COO and CDO (Chief Development Officer) report. The board is supported by a Board Secretary that oversees all board information, investor communications and investment rounds, and who liaises with or expert legal advisors, Cripps to ensure legal oversight, compliance and appropriate KyC processes for all investment. Again, as per our articles we report to our investors on a quarterly basis on finances, strategy, and impact. The board is governed by clear terms of reference including specific board reserved matters. Learn More
	2-10 Nomination and selection of the highest governance body	Nomination to the Board is on a referral basis with candidates selected following a formal aplication and interview process.
	2-11 Chair of the highest governance body	The Chair of the Board of Conduit HoldCo is not an Executive within the company.
	2-12 Role of the highest governance body in overseeing the management of impacts	Impact is reported to the Board of Conduit HoldCo by the Global CEO.
	2-13 Delegation of responsibility for managing impacts	Responsibility for management of impact is delegated by the Board of HoldCo to the Global CEO and by him to the Global Director of Impact.
	2-14 Role of the highest governance body in sustainability reporting	The Board of HoldCo delegate responsibility for sustainability reporting to the Global Director of Impact.
	2-15 Conflicts of interest	All conflicts of interests are declared and formally documented in signed statements that are shared in investor communications. A number of cross-board memberships and shareholdings exist. These are reported to all investors.
	2-16 Communication of critical concerns	Critical concerns can be reported directly to the Board. During 2023 there was no formal process for this and no there were no critical concerns communicated.
	2-17 Collective knowledge of the highest governance body	Board members are encouraged to attend impact programme events at The Conduit and to undertake our certified Academy courses. Specific workshops are also held for Board members to advance their knowledge.
	2-18 Evaluation of the performance of the highest governance body	To date there has been no formal evaluation of the performance of the Conduit HoldCo Board.
	2-19 Remuneration policies	During 2023 there was no policy for remuneration of senior executives. Pay was set on the basis of role and responsibilities in line with market rates. Senior staff have longer notice periods than other employees but all other benefits are consistent with other employees. No staff at any level receive sign on bonuses, termination payments or clawbacks. Within the Board, all members who are paid received fixed pay and no benefits.
	2-20 Process to determine remuneration	Board remuneration and salaries are set on the basis of the role and responsibilities and in line with market rates.
	2-21 Annual total compensation ratio	The ratio of the highest paid staff member to the median staff salary is 7.6
	2-22 Statement on sustainable development strategy	Read The Conduit Impact Report
	2-23 Policy commitments	As part of our over-arching commitment to responsible and ethical business, The Conduit has in place the following policies. EDI policy Anti-bullying and harassment policy Modern Day Slavery Policy Internal Privacy Policy Hybrid Working Policy Anti-Bribery Policy Paternity & Maternity Policy
	2-24 Embedding policy commitments	Policies are shared with all staff via our staff communication platform, Actimo.
	2-25 Processes to remediate negative impacts	The Conduit has a Grievance Policy in place, applicable to all staff.
	2-26 Mechanisms for seeking advice and raising concerns	As a safeguard and to ensure that individuals can seek advice and raise concerns, The Conduit has in place a Speaking Up policy and Speaking Up hotline, in addition to our Employee Assistance Programme.
	2-27 Compliance with laws and regulations	There have been no incidences of non-compliance with laws or regulations in the reporting period.
	2-28 Membership associations	The Conduit does not play a significant role in any membership association, advocacy organisation or industry association.
	2-29 Approach to stakeholder engagement	The Conduit’s stakeholders are our employees, members, partners, investors, Board members, suppliers and regulators. We communicate with our stakeholders in a range of ways: 1. Employees – we hold regular Town Hall meetings, undertake quarterly ENPS surveys and workshops and send out monthly CEO newsletters 2. Members – we hold regular member workshops, undertake bi-annual NPS surveys and workshops and also invite proactive feedback to staff and in writing 3. Partners – we provide bespoke account management to all our partners, liaising with them on a one to one basis 4. Investors – we issue formal investor updates on a quarterly basis 5. Board members – our Board meets formally on a quarterly basis 6. Suppliers – heads of department have individual relationships with our suppliers 7. Regulators – we comply with all reporting requirements and deadlines set by our regulators
	2-30 Collective bargaining agreements	No staff within The Conduit are covered by a collective bargaining agreement. Working conditions are set centrally, approved by the Board and based on standard practice in the UK market.
GRI 201: Economic Performance 2016	201-1 Direct economic value generated and distributed	This disclosure will be updated soon with a link to our 2023 financial accounts.
	201-2 Financial implications and other risks and opportunities due to climate change	As we engage actively and deliberately with a wide range of companies, individuals and organisations, there is always a risk of greenwashing. We are alert to and mindful of this but our view is that to create change we should engage as widely as possible with any organisation or individual who wants to work towards a just, prosperous and sustainable world.
	201-3 Defined benefit plan obligations and other retirement plans	Our pension scheme is defined contribution not defined benefit so we have no such obligations.
	201-4 Financial assistance received from government	None
GRI 202: Market Presence 2016	202-1 Ratios of standard entry level wage by gender compared to local minimum wage	Our standard entry level wage is the London Living Wage and this is applied equally across both genders.
	202-2 Proportion of senior management hired from the local community	Our Senior Management Team in 2023 comprised our CEO, COO, CFO and CDO. 100% of these employees were recruited from the local area, defined as permanently residing in the United Kingdom.
GRI 203: Indirect Economic Impacts 2016	203-1 Infrastructure investments and services supported	There were no infrastructure investments and services supported.
	203-2 Significant indirect economic impacts	Our purpose as an organisation is to create meaningful connections between and beyond the members of our community to help them scale and accelerate their impact. In this first year of reporting we have focused on case studies of success that can be read in our Impact Report. In future years we plan to systematise the reporting of meaningful connections and impact achieved.
GRI 204: Procurement Practices 2016	204-1 Proportion of spending on local suppliers	Whilst we have always prioritised UK-based suppliers, particuarly for our F&B supply chain, we did not keep comprehensive records of this in 2023. In 2024 we introduced Responsible Supply Chain Standards and a Purchasing Manager.
GRI 205: Anti-corruption 2016	205-1 Operations assessed for risks related to corruption	The Conduit has an Anti-corruption policy and Responsible Supply Chain Standards that all suppliers must meet.
	205-2 Communication and training about anti-corruption policies and procedures	We have not yet introduced training for our employees on anti-corruption policies and procedures but these are available to all staff to read at all times.
	205-3 Confirmed incidents of corruption and actions taken	None
GRI 206: Anti-competitive Behavior 2016	206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices	None
GRI 207: Tax 2019	207-1 Approach to tax	There is no tax strategy for the business. Our tax returns are completed by our accountants, Hayes MacIntyre and as a new company which is not yet profitable the only tax we are currently paying is VAT. This disclosure will be updated soon with a link to our 2023 financial accounts.
	207-2 Tax governance, control, and risk management	Our CEO holds ultimate responsibility for our tax governance, reporting to the Board of Conduit HoldCo and with specialist from our auditors, Hayes MacIntyre.
	207-3 Stakeholder engagement and management of concerns related to tax	As a company that only pays VAT, we do not engage our stakeholders or adopt any public policy position in relation to tax.
	207-4 Country-by-country reporting	During 2023 we operated only in the United Kingdom and this is our only tax jurisdiction.
GRI 302: Energy 2016	302-1 Energy consumption within the organisation	The total energy consumption within the The Conduit London during 2023 was 516 MWh.
	302-2 Energy consumption outside of the organization	The total non-trading hour consumption within The Conduit London during 2023 was 119 MWh.
	302-3 Energy intensity	The energy intensity of the London club in 2023 was 139 kWh/m².
	302-4 Reduction of energy consumption	This is our first full year of reporting so provides a benchmark.
	302-5 Reductions in energy requirements of products and services	This is our first full year of reporting so provides a benchmark.
GRI 305: Emissions 2016	305-1 Direct (Scope 1) GHG emissions	0.49 tCO2e Carbon Report
	305-2 Energy indirect (Scope 2) GHG emissions	148.86 tCO2e Carbon Report
	305-3 Other indirect (Scope 3) GHG emissions	578.04 tCO2e Carbon Report
	305-4 GHG emissions intensity	123.23 (emissions per £million revenue) Carbon Report
	305-5 Reduction of GHG emissions	Recognising that we are a growing business with clubs opening internationally, our focus is on reducing our carbon intensity rather than GHG emissions. Carbon Report
	305-6 Emissions of ozone-depleting substances (ODS	We report only on refigerant leakages and there were none in the year. Carbon Report
	305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions	We audit using CO2 equivalent emissions. Carbon Report
GRI 306: Waste 2020	306-1 Waste generation and significant waste-related impacts	As a hospitality business the bulk of our waste is from our F&B. We recycle into four waste streams – food, mixed, glass and general and monitor our recycling levels.
	306-2 Management of significant waste-related impacts	We work alongside our landlord, Mercers Charitable Foundation, to monitor each of our 4 waste streams and to use this data to inform our business practices.
	306-3 Waste generated	The Mercers installed a waste monitoring system called Weightron in May 2023. Our waste data is therefore from May -December 2023 and during this period there was a month of non-use due to technical issues with the machine. Wavering staff engagement also meant that the period calculated did not capture all the waste being generated. Recoginising these limitations, we are working towards publishing data that is more accurate and consistent. Waste data (May 2023 – December 2023) Food – 32.2kg Carboard – 129.62kg General waste – 122.9kg Glass – 21.88 Dry mixed recycling – 49.68kg
	306-4 Waste diverted from disposal	233.38kg (May – December 2023)
	306-5 Waste directed to disposal	122.9kg (May – December 2023)
GRI 308: Supplier Environmental Assessment 2016	308-1 New suppliers that were screened using environmental criteria	Formal criteria for supplier assessment and due diligence was introduced in late 2023. Prior to this suppliers were selected on the basis of their ethical credentials but without formal process or documentation.
	308-2 Negative environmental impacts in the supply chain and actions taken	When reviewing our supply chain we focused on the impact of that supplier on our scope 3 carbon emissions. As a result of this review, we produced formal assessment and due diligence criteria and made the decision to engage a number of new suppliers in 2024. Responsible Supply Chain Standards
GRI 401: Employment 2016	401-1 New employee hires and employee turnover	300%
	401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees	We offer a comprehensive range of staff benefits which are available to all staff regardless of the nature of their contract.
	401-3 Parental leave	All employees are entitled to parental leave in line with statutory guidance. During the reporting period 2 female employee took parental leave and remained on leave through the reporting period. No employees were due to, or did return, from parental leave during the reporting period.
GRI 402: Labor/Management Relations 2016	402-1 Minimum notice periods regarding operational changes	As a new and growing business, we have yet to implement a change of this nature but would comply wih statutory guidance if and when relevent.
GRI 403: Occupational Health and Safety 2018	403-1 Occupational health and safety management system	We have designated lead for health and safety within the business and use Food Alert as external experts including their online portal – Alert65 – to proactively record and monitor our policies and actions.
	403-2 Hazard identification, risk assessment, and incident investigation	We have comprehensive processes for risk assessment and risk management which are reviewed at least annually. These are stored in Alert65.
	403-3 Occupational health services	We do not have any formal health and safety management system for our staff and instead use Alert 65 to cover both employee and customer health and safety.
	403-4 Worker participation, consultation, and communication on occupational health and safety	Health and Safety processes are set topdown and all employees and workers have access to them. They are sent annually to all department heads.
	403-5 Worker training on occupational health and safety	There are a number of mandatory online training modules on health and safety that all staff are required to attend with additional in person training for those employees who take up designated roles as fire marshalls, first aiders, Evac Chair operators. Our H&S lead has undertaken full IOSH training.
	403-6 Promotion of worker health	We offer all employees access to Hospitality Action – a comprehensive employee assistance programme that helps us support our staff through personal or work-related issues.
	403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships	All our Operational employees are trained in COSHH to help them mitigate risks related to chemicals. All other risks are covered and addressed within our risk assessments.
	403-8 Workers covered by an occupational health and safety management system	Our H&S system is used predominantly by our Operational teams with it being of less relevance to office based staff, but no colleagues are excluded from it.
	403-9 Work-related injuries	All work related injuries are recorded in our Accident Book. From 2024 we began to upload these into Alert65.
	403-10 Work-related ill health	There were two cases of work-related illness in 2023 both of which were work-related stress and anxiety.
GRI 404: Training and Education 2016	404-1 Average hours of training per year per employee	There was no formal recording of hours of training per employee during the reporting period.
	404-2 Programs for upgrading employee skills and transition assistance programs	There is no overarching programme for upgrading employee skills and transitioning people into more senior roles. This is being developed during 2024.
	404-3 Percentage of employees receiving regular performance and career development reviews	There was not formal process for regular performance and career development across the organisation. Individual employees were managed in a bespoke way depending on their role and stage of development. A formal process is being developed in 2024.
GRI 405: Diversity and Equal Opportunity 2016	405-1 Diversity of governance bodies and employees	This is not data that we capture or report against.
	405-2 Ratio of basic salary and remuneration of women to men	This is not data that we capture or report against.
GRI 406: Non-discrimination 2016	406-1 Incidents of discrimination and corrective actions taken	There were no incidents of discrimination recorded during 2023.
GRI 414: Supplier Social Assessment 2016	414-1 New suppliers that were screened using social criteria	Formal criteria for supplier assessment and due diligence was introduced in late 2023. Prior to this suppliers were selected on the basis of their ethical credentials but without formal process or documentation.
	414-2 Negative social impacts in the supply chain and actions taken	When reviewing our supply chain we focused on the impact of that supplier on our scope 3 carbon emissions. As a result of this review, we produced formal assessment and due diligence criteria and made the decision to engage a number of new suppliers in 2024. The formal assessment and due diligence criteria include the suppliers’ social impact as well as their environmental impacts.
GRI 416: Customer Health and Safety 2016	416-1 Assessment of the health and safety impacts of product and service categories	We assess customer health and safety via risk assessments which are all recorded in Alert65.
	416-2 Incidents of non-compliance concerning the health and safety impacts of products and services	There were no incidents of non-compliance in 2023.
GRI 418: Customer Privacy 2016	418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data	There were no complaints concerning breaches of customer privacy or loss of customer data in 2023.