2024-06-30-accounts

TRAFFIC FY24 j=. Se Trustees’ Report and 7 i, a An 4 n 4 M4 i FInanciaL oar 457 WOT statements

contents

page 6

Trustees’ report, including strategic report

page 34

Administrative information

page 36 Independent auditor’s report

page 38

Financial statements

ABOUT US

TRAFFIC is a leading non-governmental organisation working globally to ensure that trade in wild species is legal and sustainable, for the benefit of the planet and people.

Reprod uction of material appearing in this report requires written permission from the publisher.

Published by:

TRAFFIC International, Cambridge, United Kingdom.

© TRAFFIC 2025. Copyright of material published in this report is vested in TRAFFIC.

TRAFFIC International is a UK Registered Charity No. 1076722, Registered Limited Company No. 3785518

Cover photo: S. Obae / TRAFFIC

MESSAGE FROM THE CHAIR OF TRUSTEES AND EXECUTIVE DIRECTOR

The fiscal year ending June 2024 (FY24) marked the first full year of implementation of TRAFFIC’s ambitious 2030 Strategy. Through a diverse portfolio of projects managed by our strong leadership team, we tackled pressing issues of trade of wild species around the world. From highlighting findings on the burgeoning illegal trade in fisheries and timber in Africa to supporting sustainable wild plant and fungi harvesting in the High Himalayas, our work spanned continents, sectors, and species, traversing supply chains from source to consumer.

Throughout FY24, we reinforced global policy frameworks, furthering our commitment to core areas of expertise. We helped strengthen the effectiveness and accountability of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) processes by conducting studies on high-risk species like sharks, big cats, and rosewood timber species, as well as hosting demand reduction workshops. Our work also enhanced the Elephant Trade Information System (ETIS) and contributed to essential discussions on CITES and One Health. Additionally, we provided support to the African Union Commission in their engagement with the Convention on Biological Diversity and CITES, to develop the African Biodiversity Strategy and Action Plan. Crucially, in various fora, we have been working to develop and strengthen policy guidance and regulations on ff wildlife trade and zoonotic disease risk through i _} strategic partnerships.

TRAFFIC’s work supporting the implementation of national laws continued to expand in FY24. Our Trade in Wildlife Information eXchange (TWIX) platforms fostered critical informationsharing in multiple regions, leading to arrests and significant cross-border law enforcement collaboration. In Cameroon and the Democratic Republic of Congo, we assisted governments in developing and implementing wildlife stockpile management systems, while in China, our efforts in countering wildlife-linked money laundering enhanced financial approaches to combat illegal trade. In Latin America,

JUSTIN MUNDY Chair of the Board

Richard Scobey Executive Director

where TRAFFIC reestablished a presence after a decade, we are focusing initially on strengthening collaboration between the air transport sector and law enforcement.

In partnership with indigenous peoples and local communities, we continue to empower sustainable, rights-based approaches to wildlife trade that improve livelihoods. This year, our initiatives in Madagascar, Malawi, and Nepal empowered community harvesters to engage in legal and sustainable trade with promising outcomes.

The private sector is a crucial partner in combatting illegal wildlife trade and promoting sustainable practices. In FY24, 868 business professionals completed TRAFFIC-supported training on wildlife trade, regulations, human rights issues, and best practices, and we look to build further public-private partnerships in the year to come. Notably, in Malaysia, we organised a major conference for Traditional Chinese Medicine practitioners and traders, raising awareness and encouraging behaviour change.

As a global thought leader in championing social and behaviour change (SBC), TRAFFIC has continued to broaden our support for programmes that reduce the demand for consumption of threatened wild species products. Our work on understanding and influencing SBC linked to the trade in wild species delivered strong results in FY24, and 12 initiatives were delivered or supported by TRAFFIC to influence consumer behaviour.

Operationally, the organisation continued to ensure a large and diverse portfolio in FY24 supported the implementation of the 2030 Strategy. FY24 represents the fifth successive year of steady growth in income and expenditure. There was a renewed focus across the entire organisation for the development of new sources of unrestricted funding to diversify our income streams. We continued to strengthen the assessment, monitoring, and results reporting of the project portfolio to further enhance fiduciary oversight in compliance with statutory requirements

for transparent and accountable financial management. There were process and policy reviews across core human resources, information technology and risk management functions to facilitate future growth.

Our work is made possible through valued partnerships with a diverse range of stakeholders and partners, which we are committed to strengthening in the year ahead. This progress would not be achievable without the dedication of our staff and the support of government partners, intergovernmental organisations, communities, businesses, and the many stakeholders who amplify TRAFFIC’s impact.

We are grateful for the strategic guidance of our Trustees and continued support and collaboration of our founding partners, IUCN and WWF.

Finally, the progress we achieved in FY24 would not have been possible without the generous financial contributions of numerous organizations, foundations, and individuals, to whom we extend our deepest thanks.

Together, we’re building a nature-positive future, securing lasting change for biodiversity, communities, and future generations.

4 CHARITY COMMISSION REPORT FY24

p'i .*1 CHARITY COMMISSION REPORT FY24

THE TRUSTEES, WHO ARE ALSO DIRECTORS OF THE CHARITABLE COMPANY, PRESENT THEIR ANNUAL REPORT (INCLUDING THE STRATEGIC REPORT) ON THE AFFAIRS OF THE CHARITY, TOGETHER WITH THE FINANCIAL STATEMENTS AND AUDITOR’S REPORT FOR THE YEAR ENDED 30 JUNE 2024. INTRODUCTION

The commercial use of wild animal and plant resources - “wildlife trade” - is an issue at the very heart of the tension between biodiversity conservation and human development. Human beings around the world directly depend on wild species as sources of food, medicines, construction materials, and many other items, as well as for income. Although the impact of this trade on the status and security of species and ecosystems is clear, the trade in wild species also makes a significant contribution to human wellbeing.

TRAFFIC International (hereafter referred to as TRAFFIC) is a leading non-governmental organisation working globally to address biodiversity conservation and sustainable development priorities linked to the trade in wild species. TRAFFIC was established in 1976 by IUCN and WWF to respond to the growing threats posed by illegal wildlife trade and overexploitation. We have maintained our unique role as a global wildlife trade specialist, combining original research, sound and impartial analysis, and collaboration with a range of partners to reduce illegal wildlife trade and enhance benefits from sustainable and legal trade.

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TRAFFIC delivered its work in FY24 (July 2023 – June 2024) through a team of approximately 180 staff based in Asia, Africa, Europe and South America. TRAFFIC’s global office, based in Cambridge, UK, delivered global leadership, technical expertise, and support functions to the organisation. Our long-standing expertise, combined with an evidence-based and flexible approach to problem-solving,

has given TRAFFIC a strong and respected reputation, allowing us to achieve an influence disproportionate to our size.

This report presents TRAFFIC’s financial accounts and highlights some of our achievements during FY24. To find out more about TRAFFIC’s work, please visit www.traffic.org.

PROGRAMME OBJECTIVES AND FOCUS

The Charity’s objectives, set out in its Articles of Association, are to promote for the public benefit the conservation and protection of nature and natural resources worldwide through helping to ensure that trade in wild animals and plants is at sustainable levels and in accordance with domestic and international laws and agreements.

consumer countries. To successfully engage its target stakeholders, TRAFFIC takes an Evidence to Influence approach, ensuring that the actions it promotes are informed by rigorous research into the wildlife trade issues as well as the opportunities available and the needs and motivations of those target stakeholders.

TRAFFIC’s mission, as outlined in its 2030 Strategy, is to ensure that trade in wild species is legal and sustainable, for the benefit of the planet and people. TRAFFIC’s vision is aligned with the long-term vision of the KunmingMontreal Global Biodiversity Framework: a world living in harmony with nature where, by 2050, biodiversity is valued, conserved, restored, and wisely used, maintaining ecosystem services, sustaining a healthy planet and delivering benefits essential for all people.

To further its mission and Charity objectives, TRAFFIC supports the implementation of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and other international agreements and national-level wildlife trade controls. TRAFFIC also supports wider public and private sector efforts to eliminate illegal wildlife trade and promote sustainable management and trade of fisheries, timber, non-timber forest products, and other wild-sourced commodities.

TRAFFIC informs, promotes, facilitates, and otherwise supports action to address wildlife trade issues in wildlife trade hotspots worldwide, including producer, trading and

TRAFFIC’s FY24 workplan was the first to deliver against the new 2030 Strategy, which aims to achieve two Goals:

1. By 2030, illegal and unsustainable trade in wild species will be significantly reduced; and

2. By 2030, legal and sustainable trade in wild species will provide significantly increased social, economic and environmental benefits to people.

We are focusing our work to give stronger emphasis to the concepts of sustainable use, social impacts, and rights-based approaches, in addition to our core focus on reducing threats to wild species.

TRAFFIC has revised its theory of change through to 2030 to define how the Strategy will deliver impact towards the two ambitious and inspiring Goals. Over the next six years, the Strategy will focus on five Priority Areas, each with a defined Objective to be achieved by 2030. The five Priority Areas focus on achieving ambitious and long-term change among intergovernmental agreements, national governments, communities, businesses, and consumers, demonstrating a comprehensive approach to achieving the two Goals.

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PROGRAMME DELIVERY - ACTIVITIES AND HIGHLIGHTS

A selection of highlights of TRAFFIC’s achievements during FY24 are provided below. Project activities were typically delivered in partnership with other organisations, including government agencies, intergovernmental and civil society organisations, and businesses. In many cases, the work built on efforts that have gained momentum over multiple years.

HIGHLIGHTS FROM FY24

STRENGTHENING GLOBAL POLICY FRAMEWORKS - PRIORITY AREA 1

TRAFFIC has continued to work in its core areas of expertise, including supporting and enhancing the effectiveness and accountability of CITES processes; and championing One Health policy issues within CITES, the Convention on Biological Diversity (CBD), the Collaborative Partnership on Sustainable Wildlife Management (CPW) and other intergovernmental bodies.

In FY24, TRAFFIC produced and submitted 34 outputs to intergovernmental meetings and bodies to strengthen the implementation or effectiveness of international agreements. Six of these outputs were then successfully incorporated into intergovernmental decisionmaking, resulting in three intergovernmental agreements being successfully influenced by TRAFFIC (the Central Africa Wildlife Law Enforcement Action Plan “PAPECALF II”, CPW and CITES).

A set of TRAFFIC films produced for CBD CoP16 showing examples of Targets 5 and 9 of the Global Biodiversity Framework in pratice.

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TRAFFIC staff attend a legal resident hunting trip in Tanzania to assess compliancy with the country’s new Game Meat Selling Regulations

Wildlife trade, One Health and zoonotic disease risk management

Since the onset of the COVID-19 pandemic in 2020, TRAFFIC has been working to reduce zoonotic disease risks linked to wildlife trade, including through improved policy and regulations and encouraging multi-sectoral collaborations. Crucial to this has been to develop strategic partnerships linking TRAFFIC’s wildlife trade expertise with veterinary and public health practitioners to identify where risk mitigation efforts should be focused to prevent future zoonotic spillover potential associated with trade in wild animals.

Wildlife Trade”, published in May 2024, which highlighted a systems-based approach to assess and manage disease risks in wild animal trade. TRAFFIC was invited by WOAH to join the technical team that helped to pilot the Guidelines in Thailand to ensure that the risk analysis approach was practical and fit for purpose. TRAFFIC is now collaborating with WOAH, including through the CPW 2022-2025 Workplan priorities, to explore opportunities to implement the Guidelines in interested countries.

TRAFFIC participated in the CITES Standing Committee Working Group on the Role of CITES in Reducing Risk of Future Zoonotic Disease Emergence Associated with International Wildlife Trade , continued its active membership of the International Alliance Against Health Risks in Wildlife Trade, and contributed to the evolving work of the CPW. TRAFFIC also exhibited at the UK Mission to the EU’s One Health Fair on mitigating against potential risks of legality, sustainability and zoonotic diseases in traditional medicine supply chains, reaching representatives from the EU institutions, the UK and other private sector stakeholders.

TRAFFIC was a member of the World Organisation for Animal Health (WOAH) Ad hoc Group of experts which prepared the “Guidelines for Addressing Disease Risks in

Additionally, TRAFFIC co-convened a side event on ‘Practical Tools and Guidance for Parties to Integrate Disease Risk Reduction and One Health Approaches into Biodiversity Protection’ at SBSTTA-26 in May with IUCN, WOAH, World Health Organisation (WHO), and EcoHealth Alliance. TRAFFIC’s work in Tanzania on reducing risks in the game meat industry was showcased, highlighting links to Target 5 of the Kunming-Montreal Global Biodiversity Framework (KMGBF). TRAFFIC’s insights on wildlife trade and disease risk reduction contributed to the side-event’s focus on integrating One Health approaches into National Biodiversity Strategies and Action Plans (NBSAPs) to meet biodiversity targets, with links to Targets 5, 9 and 14 under the KMGBF.

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Ensuring conservation outcomes are achieved for priority species at CITES

At the start of FY24, much of TRAFFIC’s global policy work focused on preparations and advocacy for the 77th meeting of the CITES Standing Committee , which was held in November 2023. The meeting resulted in many successful outcomes that further strengthened the Convention’s approaches, including those related to sustainability and non-detriment findings; compliance with CITES commitments; information for CITES decision-making and addressing strategic issues such as linkages with the Global Biodiversity Framework, demand reduction, communities and livelihoods. TRAFFIC’s work was recognised as contributing to many of these outcomes, including TRAFFIC’s studies related to sharks , big cats and rosewood timber species, demand reduction workshops and strengthening of TRAFFIC’s Elephant Trade Information System (ETIS) processes. TRAFFIC also organised a side event, in collaboration with the Secretariat and four Parties, on the capabilities of ETIS Online as a law enforcement tool and introduced its new alerts feature which was very well received by the Parties.

TRAFFIC staff played an active role in the CITES Workshop on Non-Detriment Findings (NDFs) , which took place in Nairobi in December. TRAFFIC’s previous work exploring the links between CITES and voluntary certification standards for medicinal and aromatic plants was influential at this event, being reflected in draft outputs. In addition, TRAFFIC’s Rosewood study , developed in collaboration with the CITES Secretariat, and the 9-Step NDF Guidance , co-created with BfN, served as foundational resources for the discussions in the tree species and perennials working groups, with both being prominently incorporated into the workshop’s outputs.

At the CITES Technical Workshop on songbird trade and conservation management held in Bangkok in December, TRAFFIC staff presented an analysis of Southeast Asia songbird seizures , providing the context to discuss songbird trade among Parties and experts and to contribute towards a Document to be finalised and presented by the CITES Secretariat at the 33rd CITES Animals Committee (AC33) in July 2024.

Shark species were first included in the CITES appendices in 2003, and since then, the number of species listed has increased significantly. However, there were concerns that trade data reported by Parties did not match expert expectations and that international trade in CITES-listed sharks may be going undetected and unreported. Following the publication of an initial report in 2022, to investigate the mismatch in reporting, at the 19th Conference of Parties, CITES Parties adopted a decision which requested a further examination of the mismatch in data. TRAFFIC was commissioned by the CITES Secretariat to conduct this next stage of review. TRAFFIC conducted an analysis of Elasmobranchii species listed on the CITES Appendices prior to and during the 17th meeting of the Conference of Parties and of the two Isurus species listed at the 18th meeting of the Conference of Parties, and identified what the possible sources of mismatch were.

The review was published on the CITES

website as an agenda document for the CITES Animals Committee in July 2024. The review will be used to catalyse action at CITES for better reporting of catch and trade, greater implementation of CITES by Parties to ensure they are limiting catches and trade to be traceable, sustainable and legal.

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Supporting the African Union Commission’s engagement in the CBD and CITES

In 2022, Conferences of Parties (COPs) were held on biodiversity, wildlife trade and climate change. To enhance synergies and effectiveness across these multi-lateral agreement (MEA) negotiating processes, within the African Union Commission (AUC), discussions took place on developing an overarching document that brings together the key outcomes of CBD COP15 (the KMGBF) and the relevant CITES COP19 decisions to guide their implementation in a coordinated manner.

TRAFFIC has been providing technical support to the AUC for nearly a decade, having been actively involved in the development of the AUC’s African Strategy on Combatting Illegal Exploitation and Illegal Trade in Wild Fauna and Flora in Africa in 2015 and its implementation since its adoption by the

commission. TRAFFIC’s technical support to and engagement with the AUC was further strengthened and formalised through an MOU that was signed by the two organisations in 2021. TRAFFIC provided support to the AUC in organising a pan-African Conference that informed the development of the “African Biodiversity Strategy and Action Plan (ABSAP) 2023-2030” through the provision of technical leadership in drafting the conference concept note and related agenda, facilitating of the conference sessions and finalising the conference outcome report that formed the basis for the development of the ABSAP. In February 2024, the ABSAP was endorsed at the highest level during the African Heads of States and Governments Summit, having passed through the various levels of the AUC approval process.

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IMPROVING EFFECTIVENESS OF NATIONAL POLICIES AND REGULATIONS - PRIORITY AREA 2

TRAFFIC continued to undertake research and data analyses on trade in wild species, as well as assess the need to strengthen national legislation and regulation; support capacity building; and develop and roll out training, tools and approaches to support law enforcement and anti-corruption efforts.

In FY24, TRAFFIC developed 85 new tools, resources and collaboration mechanisms, including four national laws, regulations or policies that have been adopted or strengthened with TRAFFIC’s support. Twenty

national agencies have taken action informed or supported by these resources. A total of 2,511 government staff members have successfully completed TRAFFIC supported training on wildlife trade, relevant international and national policies and regulations, best practice measures, and other relevant issues. As of the end of FY24, 10 countries have national agencies implementing new best practice or strengthened measures that are influenced by TRAFFIC.

Facilitating law enforcement collaboration

An ongoing challenge facing law enforcement is ensuring smooth and timely communication between nations when dealing with transnational wildlife smuggling networks. In 2005, TRAFFIC, with the Belgian Federal Police and the advice of the Belgian CITES Management Authority and Customs, developed the EUrope Trade in Wildlife Information eXchange (EU-TWIX) platform with two main components: a centralised website which holds records on national, regional, and international wildlife seizures, and a mailing list which allows enforcement officials to communicate, seek assistance and alert one another about relevant enforcement actions.

Through regular input of law enforcement data into the EU-TWIX platform, supported by countries’ reporting to TRAFFIC, TRAFFIC provides continuous support to more than 1,450 officials from 39 governments and international organisations by providing a platform for exchanging information on wildlife products in trade, trade routes, modus operandi, and trader/smuggler profiles. During FY24, 281 messages were exchanged on the platform between 30 different countries and seven international organisations. Numerous tools including ID guides, training materials, breeding potentials of reptiles, and emergency contact lists of European airports and seaports, are available for use by officials via EU-TWIX, thereby improving the effectiveness of implementation of national policies and regulations. The tool has since been replicated

for Central Africa, Eastern Africa, Southern Africa and West Africa.

The Eastern Africa-TWIX (EA-TWIX), launched in 2020, currently connects 350 enforcement officials from Djibouti, Ethiopia, Kenya, Tanzania including Zanzibar, and Uganda. Following two cross-border EA - TWIX trainings in Kitendeni transboundary landscape between Amboseli and Kilimanjaro National Parks in Tanzania and Kenya in October 2023, information was shared by Tanzania National Parks (TANAPA) officials on the EA -TWIX mailing list about one trafficker crossing from Rombo (Tanzania) to Loitokitok (Kenya). A joint Amboseli National Park Intelligence Investigation and Loitokitok team picked up the information and managed to arrest two suspects in Kajiado County while illegally in possession of seven pieces of elephant tusks weighing 22kg and recovered a motorcycle. As of now, 232 messages have been exchanged on the mailing list, including seizure alerts, triggered investigations and success stories in combatting IWT. The EA-TWIX website consists of resourceful materials that have been accessed by officials on a daily basis, including species ID tools, training materials, shared documents, and based on the needs from users, plans are underway to add new IT developments such as rescue centres for seized specimens, a list of experts in fauna and flora and develop the TWIX App.

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Tanzanian law enforcement, judiciary members, and users of EA-TWIX attend a field trip during a TRAFFIC workshop

Strengthening government stockpile management

Wildlife products are often accumulated by government authorities worldwide. The development of effective stockpile management systems is imperative, for both legal and illegal specimens, to support and verify legal trade, and prevent illegal trade, or leakage of seized specimens. TRAFFIC has been supporting governments develop stockpile systems and implement them for a range of products.

As part of an MoU agreed between TRAFFIC and Cameroon’s Ministry of Forestry and Wildlife (MINFOF) in July 2023, in April 2024, TRAFFIC and M INFOF formed a team to collect seized ivory from different storage facilities across two regions of Cameroon and move them to a central depot in the capital city,

Yaounde, for more efficient monitoring and security, to avoid leakages of seized products and to ensure the products are secured at the correct agency (MINFOF). A total of 231 specimens were moved, altogether weighing 300kg.

In the Democratic Republic of Congo (DRC), TRAFFIC also developed a Standard Operating Procedure (SOP) for stockpile management of seized wildlife products and live specimens confiscated from illegal trade in (DRC). This SOP will be used by the Congolese National Institution for Nature Conservation (ICCN) to increase transparency and accountability by reducing corruption in DRC stockpile management systems.

Enhancing awareness and capacity to apply financial approaches to combat IWT

Wildlife crime is intrinsically linked with money laundering and, in 2019, the United Nations (UN) adopted two resolutions calling upon UN members to recognise illegal wildlife trade (IWT) as a predicate offence for money laundering. In November 2023, TRAFFIC coordinated the first-ever NGO-led Anti-Money Laundering (AML) Forum in China, with nearly 70 participants from the National Forestry and Grassland Administration (NFGA), the AntiMoney Laundering Bureau of the People’s Bank

of China (AMLB of PBOC), the Anti-Smuggling Bureau of the General Administration of China Customs (ASB of GACC), financial institutions, anti-money laundering, and legal experts, as well as international organisations. The forum provided stakeholders from diverse sectors a platform to enhance awareness and capacity to apply financial approaches to combat IWT. It also presented a distinct opportunity to foster connections and explore prospects for future cooperation.

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EMPOWERING COMMUNITIES - PRIORITY AREA 3

TRAFFIC has continued to support and empower local communities to improve their livelihoods through participating in legal and sustainable wild species trade.

In FY24, in South Africa harvesting guidelines for Pelargonium sidoides were developed with input from the community. Globally a total of 4,274 community representatives have successfully completed TRAFFIC-

supported capacity building training in sustainable harvesting and CITES. A survey of 35 community members from Nepal’s Himalaya region that received TRAFFICsupported training on topics such as resource management, FairWild and organic standards, and sustainable harvesting indicated that income from non-timber forest products (NTFP) harvesting increased by over 5% after the training.

Supporting communities to implement harvest management systems

In Malawi, poverty and lack of employment opportunities and land drive deforestation and degradation in and around Mount Mulanje Biosphere Reserve as communities try to reduce their livelihood deficits using mountain resources. Firewood collection and charcoal production have been driving largescale woodland removal on the mountain.

While community engagement and capacity building has been led by local partner, Mount Mulanje Conservation Trust (MMCT), project partners FairWild Foundation and TRAFFIC have been supporting the development of a wild collection operation management plan for the social enterprise Inde Mulanje Ltd. A

field visit by technical experts supported the development of the management plan using the FairWild template and provided guidance to the enterprise on how to establish harvest management systems, facilitate community groups, provide training and register collectors.

TRAFFIC also worked with industry and communities to update the sustainable harvesting guidelines for Pelargonium sidoides. The guidelines represent the best practice harvesting methods for the species and will promote sustainable utilisation, and in South Africa, 56 harvesters from one Pelargonium sidoides industry company have received training on the application of the guidelines.

Addressing inequity in communities’ participation in decisionmaking processes and implementation of CITES

In Madagascar, baseline assessments had revealed that local communities are often employed to catch CITES-listed species targeted for export, but they were not implementing sustainable practices. Concurrently, the decisions on quotas and other conservation measures were affecting their livelihoods but they were not aware of the motivation for the measures.

Community capacity building on CITES was conducted in June for 44 community members from the Alaotra Mangoro region

in Madagascar, which is the main harvest area of CITES-listed chameleon and gecko species, and the Menabe region, which is the main habitat for the baobab species Adansonia grandidieri. Community members were trained on CITES procedures, developing non-detriment findings (NDFs), setting quotas, and the legal right of local communities to participate in decision making processes on natural resources management. The training will enable the communities to defend this right, but also to participate actively in national and international discussions on CITES.

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ENABLING RESPONSIBLE SUPPLY CHAINS - PRIORITY AREA 4

TRAFFIC has continued to encourage and empower action by priority businesses across the world, while developing new private sector partnerships across the ‘enabling sectors’ (finance, transport and e-commerce).

In FY24, TRAFFIC developed 48 new tools, resources and collaboration mechanisms, with 10 priority businesses having then taken action

informed or supported by these resources. A total of 868 business staff members have successfully completed TRAFFIC-supported training on wildlife trade, regulations, human rights issues, and best practice measures. As of the end of FY24, 275 businesses involved in and facilitating wildlife trade are implementing new or strengthened best practice measures as a direct result of TRAFFIC’s work.

Strengthening the ability of the transport sector to prevent wildlife trafficking

The transport sector has an important role to play in combating wildlife trafficking. Traffickers use air transport as a relatively low risk, high profit means of illegally transporting wildlife (particularly live specimens) from source to consumer. Though the interception and arrest of wildlife traffickers is the responsibility of law enforcement, the many thousands of air transport staff operating along the supply chain (e.g. cabin crew, baggage screeners, and others), with the proper means, are uniquely placed to support law enforcement by identifying and reporting any wildlife trafficking suspicions.

In FY24 TRAFFIC developed and delivered bespoke training on wildlife trafficking to airport personnel at four subsidiary international airports within Tanzania and Kenya. Following that, there was an unprecedented increase in seizure incidents at Kilimanjaro International Airport. Within a span of about 30 days, authorities intercepted seven incidences of smuggling involving wildlife products, including ostrich eggshells, antelope

horns, and hippo tusks. All confiscated items were forfeited as government property.

TRAFFIC’s air transport-focused project operating in Ecuador and Colombia launched its activities in FY24. In Colombia, TRAFFIC has been actively collaborating with key stakeholders, including the Ministry of Environment, the Secretariat of the Environment of Bogotá (SDA), the UK Embassy in Colombia (in coordination with the United for Wildlife programme), Wildlife Conservation Society (WCS) Colombia, and airport authorities, to support their existing efforts against wildlife trafficking with additional tools.

In Ecuador, TRAFFIC has engaged with the Environmental Police (UPMA), United Nations Office on Drugs and Crime (UNODC), WCS Ecuador, the Ministry of Environment (MAATE), and Galapagos Ecological Airport to adapt and enhance the national Protocol for Chain of Custody to the Galapagos’ context to strengthen law enforcement action against wildlife trafficking incidents.

Raising awareness and shifting behaviour of Traditional Chinese Medicine (TCM) practitioners and traders

TRAFFIC Southeast Asia’s trade monitoring in Malaysia has found that many TCM shops still sell medicine containing ingredients from endangered or protected species, and that many TCM traders and practitioners harboured confusion regarding the use of protected wildlife. This led to a project where TRAFFIC aimed to raise awareness and shift

the behaviour of TCM practitioners and traders to avoid the use of protected and threatened wildlife ingredients.

The key to success was backing from two major industry associations – the Federation of Chinese Physicians and Medicine Dealers Associations of Malaysia (FCPMDAM), an

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umbrella federation consisting of 44 TCM associations, with more than 7,000 TCM practitioner and trader members throughout Malaysia, and the Malaysia-China Chamber of Commerce for Traditional Medicines and Health Products (MCMH), who counts over 100 traders, manufacturers, and distributors among its members. In December 2023, TRAFFIC was invited by MCMH to set up an awareness raising booth in a three-day TCM trade fair - the first time a wildlife NGO was ever invited. This built trust with the industry and enabled us to engage directly with hundreds of traders and consumers.

Building on this, in May 2024, TRAFFIC organised a TCM Conference to promote legal practices and sustainable ingredient use, clarify laws on wildlife ingredients, share resources and foster industry networking. Over 100 key TCM industry players attended, participating in talks and exhibitions by government representatives on Malaysia’s wildlife and health laws. A dynamic panel discussion with government agencies clarified questions from the industry about the law, and talks were held by TCM experts about the use of legal and sustainable ingredients. The conference provided additional opportunities to introduce the TCM project website and disseminate the flagship resource of the project, the TCM Handbook. Positive feedback was received

from the attendees - over 95% were satisfied or very satisfied with the event, and 94% found it relevant and helpful to their work. Strong interest and support for the project was received from influential players who attended the conference, including a large retail chain who have requested additional outreach materials for internal distribution.

The health and wildlife regulatory agencies’ prominent presence at the conference was due to TRAFFIC’s proactive engagement. In October 2023, for the first time, the Department of Wildlife and National Park Peninsular Malaysia (PERHILITAN), the Ministry of Natural Resources, Energy and Climate Change (NRECC) and health ministry departments (National Pharmaceutical Regulatory Agency (NPRA), Pharmacy Enforcement Division (PED), and Traditional & Complimentary Medicine (T&CM) Division), came together with TRAFFIC to discuss this issue. Various legislative loopholes were identified regarding the regulation of the import, sale, advertisement and possession of protected wildlife ingredients in TCM. The outcome of the meeting included improved coordination between the agencies, and a thorough review by NPRA of registered wildlife-based products which still contain ingredients from Totally Protected species.

A TCM workshop in Malaysia where 94% of attendees gave positive feedback on the relevance of content

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CATALYSING RESPONSIBLE CONSUMPTION - PRIORITY AREA 5

TRAFFIC deepened its support for rightsbased approaches, inclusive processes, and participatory multi-stakeholder engagement for community-led resource management and sustainable supply chains.

In FY24, 12 initiatives were delivered or supported by TRAFFIC to influence target consumer behaviour. For three of these initiatives, a decrease in the intention to purchase or consume target commodities by the target audience was observed at a project level.

Social and Behaviour Change (SBC) initiatives curb illegal wildlife product demand in Viet Nam

TRAFFIC Viet Nam, in collaboration with various stakeholders, continued its focus on reducing the demand for rhinos, elephants, pangolins, freshwater turtles, and tortoises, including by carrying out online and direct interventions targeting users, domestic and international tourists and traditional medicine (TM) individuals. SBC posters and messages addressing the benefits of sourcing and using legal and sustainable ingredients were placed in traditional medicine hospitals and integrated into master trainer materials for the TM network. These resources are expected to reach over 500 TM practitioners, students and patients. SBC posters were also shown in Viet Nam’s three largest commercial malls and over 200 residential buildings in Hanoi, Ho Chi Minh, and Da Nang, reaching an estimated 5 million shoppers and residents.

To address the persistent belief in Viet Nam of rhino horn’s medicinal properties, TRAFFIC, in partnership with Google Viet Nam, launched a campaign to promote legal traditional medicine ingredients and discourage rhino horn use. Social and Behaviour Change (SBC) banners were displayed on 30+ health and traditional medicine-related websites in Google’s network, reaching 2 million viewers. To complement the advertisement placements, the campaign used advanced search engine optimisation techniques. A dedicated landing page with the domain “rhino horn is not used for medicinal treatments” was created and optimised to appear in the top five search results for rhino horn-related keywords. The page provided information on the illegality and ineffectiveness of rhino horn and received over 28,000 clicks. Notably, 25% of visitors showed deeper engagement by exploring

additional information, indicating a willingness to consider legal TM ingredients. By meeting target audiences in their online spaces and providing easily accessible, factual information, TRAFFIC effectively challenged long-held beliefs about rhino horn use.

In September, TRAFFIC Viet Nam completed a project to reduce the demand for tiger products in Viet Nam, with reach to 7,000 individuals, including government staff, businesses, traditional medicine (TM) practitioners, lecturers and students. The project initiated a positive change of attitude and intention amongst target audience groups; for example, among engaged TM practitioners, there was a self-reported reduced likelihood that they would recommend tiger bone to their patients (compared to a control group of practitioners).

In Viet Nam, where Buddhism is the predominate religion, illegal wildlife products are also used for spiritual motivation (such as the belief that individuals will receive merit if they release animals into the natural environment or hold any products from wild and endangered species), despite the Buddhist values of compassion and non-harming. To reduce the demand for illegal wildlife products among the Vietnamese Buddhist community, TRAFFIC, in collaboration with the Vietnam Central Buddhist Association and the Pagoda network, used one of the fundamental principles of Buddhism – the Law of Cause and Effect (karma) – to design an SBC campaign, illustrating the consequences of consuming illegal wildlife products in their current and future lives. During FY24, the images were distributed to six pagodas across three regions

18 CHARITY COMMISSION REPORT FY24

of Viet Nam and were shared on Buddhist social media. During ceremonies, the monks at the pagodas would tell the visitors about the images. By using the voice of respected Buddhist leaders, and following traditional

teaching approaches, it is expected that over 5,000 Buddhists visiting the pagodas per year will be reached, building their awareness, and influencing their behaviour around the consumption of illegal wildlife products.

A frame from an SBC video in Viet Nam on illegal Tiger product consumption

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PROGRAMME COORDINATION AND LEADERSHIP

The main activities of TRAFFIC’s global office, based in Cambridge, fell within the following areas: strategic direction and leadership; programme development

and evaluation; funding development; programme delivery (covered in the preceding section); communications; and operations management.

STRATEGIC DIRECTION AND LEADERSHIP

Across the organisation staff engaged in the first full year of implementation of TRAFFIC’s 2030 Strategy, providing evidence, solutions and influence to galvanise change. This included building cohesion across thematic leadership functions and programmes of work. A very successful Global Programme Meeting in May 2024 brought over 140 staff together online to advance the implementation of strategy and collectively plan programmes and develop new project ideas.

Throughout the year, we strengthened our Monitoring, Evaluation and Learning approach to results based management with

an increased focus on measuring impact of outputs to drive outcomes and longer term impact.

The Conservation Initiative (CCI), a unique collaboration between the University of Cambridge and eleven leading internationally focused biodiversity conservation organisations clustered in and around Cambridge. TRAFFIC has supported CCI activities in various ways, including governance support and lectures to students pursuing the CCI-affiliated MPhil in Conservation Leadership.

PROGRAMME DEVELOPMENT AND EVALUATION

In order to strengthen achievement of our 2030 Goals and Objectives, TRAFFIC has adopted a results-based management (RBM) approach to the implementation of its strategy, meaning that strategic and management decisions are made based on the results that are being achieved rather than just on the activities that are implemented. For each of the five Priority Areas (PAs) a detailed results chain has been developed, with a set of indicators designed to monitor progress against each key result along the chain.

A new Monitoring, Evaluation and Learning team has been established to implement and build organisational capacity in Results Based and adaptive management.

TRAFFIC is also working to prioritise its investment in those areas most likely to yield the greatest benefits for both people and wild species. In FY24 TRAFFIC conducted a

quantitative analysis using globally available datasets to identify key geographies and species for its work on National policies and regulations, Community empowerment, and Responsible consumption. The key geographies and species identified are undergoing a qualitative review involving expert input from TRAFFICs global network to validate the findings.

TRAFFIC created a ‘selectivity lens’ tool to support the internal assessment of project concepts and ensure that they are strategic, feasible, and most likely to achieve impact. The assessment is based on a set of criteria within the categories of impact potential, enabling environment, TRAFFIC’s comparative advantage, and potential risks. The prioritisation process and the selectivity lens will together ensure that TRAFFIC’s resources are allocated optimally for achieving its 2030 Goals.

20 CHARITY COMMISSION REPORT FY24

FUNDING DEVELOPMENT

An updated fundraising strategy has been approved in June 2024 and will frame our efforts to steward donors, as well as to guide us in our efforts to diversify our portfolio of supporters. TRAFFIC’s need to diversify and secure new sources of unrestricted/lightlyrestricted funding remains. Additionally, a new set of philanthropic fundraising policies have been approved and disseminated to all members of the organisation which will allow the organisation to standardise cultivation and stewardship of donors as well as to protect TRAFFIC’s reputation through the process of prospect due diligence.

The Development Team have sought to cultivate Trusts & Foundations to fund capacity building and provide capital investment to update operations functions. The team have continued to target donors with an interest in marine conservation, One Health, behaviour change and empowering communities to strengthen funding of all Priority Areas of the 2030 Strategy.

The majority of applications in FY24 were developed in response to government calls for proposals such as the UK Illegal Wildlife Trade Challenge Fund, Darwin Initiative, notices of funding opportunities issued by the US Bureau of International Narcotics and Law Enforcement Affairs (INL) and tenders issued by GIZ, European Commission and BMUV. In addition, to diversify TRAFFIC’s funding base, the Development Team have increased efforts to cultivate funding from

Trusts and Foundations and Individuals. This resulted in the start of a review of TRAFFIC’s data-management tools, research tools, taxefficient international channels and processes to receive and acknowledge donations which will conclude next financial year. The team anticipates running several online fundraising appeals in the coming year to increase flexible funding. This will be done in collaboration with TRAFFIC’s communication team who are ensuring that TRAFFIC’s messaging is updated making it accessible to a wider public audience.

Staff have worked together during the year along with Trustees external reviewers to assess how TRAFFIC can present impact in a more effective way to prospective donors both through conversation and written or visual content.

Funding received in FY24 enabled TRAFFIC to take a major step forward in its programme development through the re-establishment of a presence in the Latin American & Caribbean (LAC) region. The project funded by US State Department INL aims to strengthen collaboration to interdict illegal wildlife trade at key airports in the region. This is building directly upon the work undertaken through the USAID ROUTES partnership. The Development Team will continue its efforts to explore new donors with an interest in combatting illegal trade in LAC to help build our team and project portfolio in the region.

COMMUNICATIONS

1. Harnessing traffic.org as our shop window

The TRAFFIC International website remains the primary platform for hosting our external publications and news, with our four social media channels helping to drive visitor traffic towards key outputs and priority web stories.

The site has seen a substantial increase in users since the last reporting period with 260,000 active users in total . This has resulted in 360,000 sessions culminating in almost 600,000 page views , up from 470,000 during the previous period.

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Reports

Some of TRAFFIC’s flagship reports produced in FY24 included Corruption risks in the supply of non-human primates for clinical testing, Artisanal fishing in East Africa, CITES-listed seizures in the European Union, and The Online Trade in Live Cheetahs.

TRAFFIC continues to see a preference for shorter, visual, and summary information for its publications, demonstrated by 90,000 views of our ‘brief’ report webpages, averaging 90 seconds of screen time.

News pages

Significantly increasing the reach and accessibility of TRAFFIC’s website remains a strategic communications priority. A total of 85 news stories were published on our website

during FY24, receiving over 145,000 views by over 92,000 unique users, with individual news items averaging roughly 1,200 views each.

campaigns use non-technical language and tell stories which highlight the impact of TRAFFIC’s work on people, wild species, and ecosystems.

The Communications Department has prioritised proactive audience-focused minicampaigns to push key stories and content out to new audiences and platforms. The

Social media

The organic growth of our social media accounts has been bolstered by targeted engagement with partners and alignment with topical media cycles. In November 2023, in collaboration with European WWF offices, TRAFFIC ran a highly successful Facebook campaign targeting buyers of exotic pets in EU Member States.

To mark World Pangolin Day 2024, TRAFFIC launched an “Astounding pangolins” children’s book and associated animated video to educate children and their families on the threats facing Pangolins. Our associated Facebook post performed over 450% better than average, reaching and engaging six times our usual audience.

22 CHARITY COMMISSION REPORT FY24

A TRAFFIC and WWF SBC Campaign video highlighting the need to know the rules when considering purchasing an exotic pet

Media / partner platforms

The Communications team are seeking to place TRAFFIC’s stories on external platforms in addition to its website, in order to increase reach and raise awareness of our work.

Significant work has been conducted to nurture relationships with high-profile media outlets, which will be significantly expanded.

Events

Targeted communications supported TRAFFIC’s effective contribution to many high-level international conferences in FY24, including the 25th meeting of the CBD’s Subsidiary Body on Scientific, Technical and Technological Advice (SBSTTA-25) in November 2023. TRAFFIC had presented its positions on the sustainable wildlife management agenda item at the meeting of European Parties prior to the event, which contributed to the adoption of CBD decisions calling for the development of further guidance for Parties on the sustainable use of wild species.

In September 2023, through a panel discussion at a European Commission conference discussing the enforcement challenges and opportunities of the EU Wildlife Trafficking Action Plan, TRAFFIC spotlighted the fundamental role of scientific behavioural change approaches, addressing the motivations that drive the demand for illegal exotic pets in Europe – an issue of growing concern.

3. Strengthening our narrative and story-telling Capacity

TRAFFIC has been developing a new narrative approach to support TRAFFIC’s communications, fundraising, and wider engagement strategies. Parallel work is being conducted to update our Communications Strategy. This will harness lessons learned

from our Narrative work, assess and streamline existing publication processes, and venture into enhanced media and partner communications that leverage media cycles and international news arenas to draw focus to TRAFFIC’s work and exploit online fundraising opportunities.

CHARITY COMMISSION REPORT FY24 23

The profiling of flagship stories and archetypal narratives is contributing to a broader reprioritisation of communications efforts to better engage, inform, and influence donors, partners, and global media to elevate TRAFFIC’s profile and reach new audiences. A pivotal component is identifying and collecting on-the-ground stories across our project locations that demonstrate the success of our interventions and the issues we work to address.

This will help communicate the tangible benefits of our conservation Strategy and engage new audiences including wealthy individuals and philanthropic donors. Importantly, it will also enable us to use communications itself as a mechanism for change, through highlighting pockets of behaviour change on the periphery of networks, bringing new norms around sustainable and legal use of wild species to wider audiences, thereby encouraging wider adoption.

OPERATIONS MANAGEMENT

As in recent years, TRAFFIC’s global structure continues to evolve as the organisation grows. No new entities were established during FY24, but TRAFFIC entities registered in Belgium, China, Malaysia, Tanzania, and Viet Nam fully met their national statutory requirements and continued to strengthen their institutional presences during the course of the year.

of project data and easier integration of project information with Aqilla when the new system goes live. All of these activities were facilitated by various systems workshops and the first face-to-face global Operations team meeting held since Covid, in May 2024. On-going design and implementation work will continue into FY25.

However, FY24 did see some significant changes to the Operations team with the creation of a new Chief Operating Officer (COO) post, filled in January 2024. Two additional senior managers joined in January 2024 so onboarding sessions with the new managers, new trustees (3) and a new Chair of the Board’s Operations Committee were important elements of TRAFFIC’s governance process.

A major initiative involving Operations staff across the organisation, particularly Finance and Project Support, was started during the financial year, the introduction of a new financial system, Aqilla, to replace TRAFFIC’s existing system which is no longer adequate. With the addition of a project position to support the development and implementation of Aqilla, the team has begun to build the basic corporate, financial and project structures for the new package.

Related actions included an organisationwide scoping exercise, and transition to a new project data management tool, or ‘Project Registry’, for better management and handling

TRAFFIC’s IT department initiated a substantial new stream of work, continuing the rollout of Intune to regional offices, but also initiating plans for standardisation and centralisation of IT systems and security, including changes to TRAFFIC’s SharePoint architecture and necessary responses to current cybersecurity risks. An important element of planned IT development is the centralisation of user support across all TRAFFIC offices globally. The first phase of this process was initiated in FY24, but the majority of the work will be done in FY25 and early FY26.

Staff development continued to be a major focus during the financial year with an updated Recognition Policy rolled out together with workshops for managers and staff on the process. DEI initiatives continued with Diversity Surveys and workshops to raise awareness and gather feedback held throughout the organisation. Safeguarding, both internal and external, continued to be part of this staff focus with various outputs planned for FY25.

24 CHARITY COMMISSION REPORT FY24

Project portfolio

One hundred and eight (108) projects were active at some point during the financial year, with 72 projects active as of 30 June 2024. During the year, 25 new contracts or contract extensions were issued and 36

projects completed. 52 funding proposals were submitted to various donors during the year and, at the time of reporting, 25 of the proposals submitted subsequently were confirmed or contracted.

Human resources

Human Resources (HR) directly supported 18 recruitments across the organisation during the year with 19 new starters in the organisation and 18 leavers processed during the period. This brings the average number

of staff employed by the charity to 182 Individuals, excluding staff at affiliated offices. One volunteer contributed approximately 35 hours of work in the TRAFFIC Global office.

Plans for the year ahead

During the coming financial year, improvement to systems for monitoring overall financial performance, the status of the organisation’s combined project portfolio, and compliance with local statutory requirements in all registered offices will continue.

Additional key activities planned for FY25 as referenced above include: transition to the new Aqilla accounting software package; phase two of rolling out standard user IT support globally; circulation of a revised code of conduct and professional ethics to all staff; review of

TRAFFIC’s risk management and safeguarding regimes and continued refinements to both. The Operations team will continue to support the Executive Director in implementing the operational elements underpinning TRAFFIC’s 2030 Strategy and to support the Trustees through its Operations Committee and with the induction of a new Chairman and incoming Treasurer of the Board. This support includes organization-wide capacity building on TRAFFIC’s business model and cost recovery methodology to aid in proposal development and project implementation.

Financial review

TRAFFIC saw modest growth in income and expenditure during the year, continuing an upward trend for the fourth consecutive year. In FY24, group income once again saw an increase from £12.1m to £12.3m, as a result of an increase in project restricted funding. Group expenditure has also gone up from £13m to £13.5m. TRAFFIC’s free reserves were £2.1m, a decrease of £300k compared to the previous financial year.

Income

During the year, TRAFFIC received income totalling £12.3m, an increase of £0.2m compared to the previous year. The percentage of income from Charitable Activities remained stable and constituted 92% of total income (FY23 91%).

Unrestricted income for the year remained stable at £1m, with the movements in different types of income being negligible.

Restricted income in FY24 increased slightly by £0.3m to £11.3m from £11m in the previous year. The donor mix in FY24 was similar to FY23 with the highest proportion being from Government Agency funding. Grants from this source tend to be larger and multi-year so they constitute a valuable source of income. As noted in the funding development section, TRAFFIC acknowledges the need to diversify its income streams and this will form the basis of the funding strategy for the coming years.

One hundred and eight (108) projects were active during the year, a decrease of 18 from the previous year. Reliance on government-

CHARITY COMMISSION REPORT FY24 25

funded projects has continued this year. US Government agencies continued to be the main donor with the funding constituting more than 50% of the total income (FY23 47%).

One of TRAFFIC’s management KPIs (Key Performance Indicators) for financial performance is that no single donor contributes more than 25% of total income. During the year, one donor (INL) directly and indirectly contributed 26% of total project income, across 13 active projects. This level is slightly above the 25% target.

Expenditure

Expenditure during FY24 was £13.5m which is £0.5m higher than in FY23. Of the FY24 expenditure, 98% related to expenditure on Charitable Activities and 2% on raising funds, the same ratio as in the previous year.

are yet to be expended, the balances are held in foreign currency bank accounts. TRAFFIC regularly reviews its foreign currency management to mitigate foreign exchange risk where possible and considers foreign exchange risk when setting its reserve policy.

Restricted fund expenditure increased by a modest £0.1m to £11.9m. The increase in restricted expenditure this year was consistent with the increase in the restricted income.

Funds

The net movement in group funds for the year was a deficit of £1.2m compared to a deficit of £0.9m in the previous year. This deficit includes net movements in both unrestricted and restricted funds, with the latter being primarily a cashflow issue. The distribution between unrestricted and restricted funds is as follows.

Unrestricted expenditure increased by £350k compared to FY23. This represents a 23% increase. This increase in Core expenditure was budgeted expenditure in the programme offices, not in the Cambridge headquarters.

In FY24, there was a £120k unrestricted foreign exchange loss (FY23 £128k gain). The majority of TRAFFIC’s income is received in foreign currencies, namely US Dollar, Euro, Norwegian Krone and Swiss Franc. Where those funds

The net movement in unrestricted group funds was a deficit of £232k, compared to a surplus of £43k in the previous year. Unrestricted funds held at the year-end were £2.1m.

The net movement in group restricted funds was a deficit of £968k and restricted funds held at the year- end were £1.7m. This is related in part to the timing of income and income recognition rules for restricted funds.

Non-adjusting post balance sheet event

Following US President Trump’s Executive Order on 20 January 2025 and US Secretary of State Rubio’s Memo of 24 January 2025, TRAFFIC received on 25 January 2025 a series of “Notice of Suspension” from the US Government notifying the organisation that their funding had been immediately suspended and ordering TRAFFIC to stop work on all of their projects. These actions have significant implications for TRAFFIC and its project portfolio. Senior management and

the Trustees are in the process of assessing various scenarios regarding US government funding and the appropriate responses. Due to the level of uncertainty with these actions, management is unable to reliably estimate the impact, if any, on these financial statements. However, TRAFFIC has done sufficient analysis to confirm that it can remain a going concern whatever the outcome regarding US government funding.

26 CHARITY COMMISSION REPORT FY24

Risk management

The Trustees recognise their role in the management and administration of the Charity and that directorship carries legal responsibilities and duties including a responsibility to assess potential risks facing the Charity. The Trustees note that the major potential risks in the areas of governance and management, operations, and finance are reviewed on a periodic basis and that systems have been put in place to minimise these risks both in the UK and overseas.

The nature of TRAFFIC’s conservation programme means that the bulk of funding dispersed through TRAFFIC’s UK office is subcontracted to TRAFFIC branch and subsidiary offices to implement conservation activities overseas. TRAFFIC has wellestablished guidelines on financial policies and procedures which are followed by TRAFFIC

offices globally, including regular review of budgets, financial performance, and related financial management. In addition, TRAFFIC has an established monitoring and evaluation system in place which looks at overall programme delivery and individual project implementation against contracted project budgets and deliverables.

TRAFFIC received an inquiry from the UK Charity Commission regarding specific funding received overseas. In response to the recommendations from a Charity Commission monitoring visit in January 2024, the trustees and management read and considered the Office of Financial Sanctions Implementation’s charity sector guidance regarding financial sanctions, and regularly checked for news of any emerging threats in countries of operations ahead of agreeing to undertake new projects.

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TRAFFIC’s risk framework focuses on the following key risk areas:

• Strategic risks which influence TRAFFIC’s long-term strategic objectives, including governance issues, partner relations, and stakeholders including donors and the public. The Senior Leadership Team meets on a bi-weekly basis to discuss such issues and the wider management have an annual week-long meeting covering areas of risk as well as the topic of risk management itself;

• TRAFFIC recognises that the increased focus on engagement with local communities embedded in our 2030 Strategy comes with increased responsibility towards those impacted by our work and is taking steps to bolster implementation and monitoring of TRAFFIC’s safeguarding framework;

• Operational risks which arise from day-today issues that TRAFFIC faces as it delivers its conservation programme. These include areas such as project management, office facilities, and human resource management. To minimise these risks, Finance and Operations manuals have been produced, project steering groups are set up for major projects, staff undergo an induction process and appropriate training, and regular team meetings are held;

• Financial risks related to TRAFFIC’s effective management and control of its finances including internal controls, monitoring of funding development, and the effects of external factors such as foreign exchange rates. TRAFFIC produces and reviews quarterly financial reports, as well as annual budgets and quarterly reforecasts, to allow potential financial risks to be identified on a timely basis. There is an up-to-date Finance Manual subject to regular review. Monies are kept in major donor currencies to minimise

the effects of any exchange rate fluctuations;

• Knowledge management risks related to TRAFFIC’s effective management and control of its knowledge resources, including communications materials, intellectual property rights, and system malfunctions. To minimise these risks, some controls include protocols for handling sensitive data, communications policies, cybersecurity measures, and regular backups of data;

• Compliance with laws and regulations related to issues such as health & safety, data protection, employment practices, safeguarding, and other regulatory issues. As well as employing appropriately professionally qualified staff we hold regular meetings with professional advisors both in the UK and in locations where we have offices overseas;

• External risks which may be beyond TRAFFIC’s ability to influence, including changes in the physical environment, and in the global economic or political environment, including the continuing conflict in Ukraine and tensions in the Middle East escalating since 2023. To minimise the effects of these risks to the extent possible, staff monitor analysis circulated in the charity community and more broadly and attend external specialist seminars to ensure knowledge in the Charity of possible external risks.

Any “high” risks identified, and the actions taken to mitigate them, are brought to the attention of the Board of Trustees. The Board’s Operations Committee review the risk register on a bi-annual basis and the Board of Trustees on an annual basis. The Board reviewed and updated the organisation’s overall risk policy in January 2022.

Safeguarding

TRAFFIC International takes very seriously its responsibility to protect people, including our staff, volunteers, partners, consultants, contractors, trustees and others affected by our work, from any harm that may result from coming into contact with our organisation.

As a wildlife conservation charity primarily

involved in researching legal and illegal wildlife trade globally, and encouraging necessary action by governments, businesses, and others, TRAFFIC does not usually work directly with children or with adults who could be seen as at risk, nor do we carry out aid-funded relief work. Nevertheless, TRAFFIC employs around 180 staff globally and cooperates with a wide

CHARITY COMMISSION REPORT FY24 28

range of public and private sector partner organisations to carry out work related to people and their use of natural resources.

We recognise the importance of ensuring that our work does not have adverse social or environmental impacts at any level, and the need to incorporate these considerations both into the design and implementation of our activities and into the conduct of our staff and implementing partners.

TRAFFIC is aware that it is bound by the laws of the UK in respect of conduct both at home

and abroad. We are committed to acting professionally, fairly, and with integrity in our business dealings and relationships wherever we operate. This includes implementing and enforcing effective systems through a framework of policies including professional conduct, sensitive activity management, anti-bribery, and whistleblowing. TRAFFIC’s safeguarding statement can be found on our website. TRAFFIC continues improvements to its sensitive activity and local community engagement processes.

No reportable issues were raised or identified during the financial year.

Environmental sustainability

TRAFFIC operates in multiple locations across several continents, managed from the global office in Cambridge, UK. TRAFFIC staff work under a variety of conditions in these strategic locations, from single individuals to larger groups, often hosted within an external organisation’s office.

TRAFFIC is a key member of the Cambridge Conservation Initiative (CCI) including as an active participant in CCI’s Sustainability Working Group with the 2020-2025 David Attenborough Building Sustainability Strategy and Environmental Sustainability Policy providing the basis for TRAFFIC’s Environmental Sustainability Policy (2021). Global application of the TRAFFIC policy, which includes a number of elements (carbon reduction and energy efficiency; purchasing and procurement; travel and transport; waste management; biodiversity and ecology; water

use; and host collaboration and reporting), continues to progress slowly, both because of the ongoing impact of the COVID pandemic and difficulties in capturing and consolidating consumption data from offices in different countries (including the UK) to establish baseline data.

CCI tenants in the David Attenborough Building (DAB) have set themselves the same carbon reduction target (absolute zero by 2048) as the University of Cambridge for Scope 1 and 2 emissions, which relate to energy purchased for the building. In FY22, TRAFFIC and other CCI members began exploring ways to calculate Scope 3 carbon emissions generated indirectly by a range of operational requirements in the DAB, e.g. waste, water, procurement, travel and transport, and how to use carbon offsetting as an option to mitigate the building’s carbon footprint.

Investment policy

Under the Articles of Association, the Charity has the power to make any investment the Trustees see fit. The investment policy, as approved by the Trustees on 16th February 2005, is that funds will be invested in cash,

bank current accounts, and bank deposits. The Charity currently holds no investments aside from its cash holdings. The Trustees will consider possible amendments to this investment policy on a periodic basis.

29 CHARITY COMMISSION REPORT FY24

Reserves policy

TRAFFIC’S Trustees recognise the importance of establishing reserves to allow the Charity to respond to future opportunities and current global economic challenges, particularly for an organisation with levels of restricted funding significantly higher than unrestricted. The Trustees have set TRAFFIC’s general reserve fund target based on the following range: the equivalent of four months of the Charity’s planned annual Core expenditure to be maintained at all times and a maximum amount equivalent to six months of the Charity’s planned annual core expenditure.

TRAFFIC routinely models various scenarios to help evaluate the level of reserves that should be put aside to protect against risks such as drops in income, unexpected increases in costs, or, more positively, to allow the organisation to take advantage of new opportunities.

At year-end, the group had free reserves of £2.1m, factoring in unrealised exchange rate losses. The amount is equivalent to only 86% of target (four months of planned FY25 core expenditure, before allocations to restricted projects). Free reserves are defined as unrestricted reserves less fixed assets.

Both the amount of free reserves held and the target itself are reviewed on a regular basis. An in-depth review was carried out in 2021, and a more light-touch review in 2023 found the reserve target to still be appropriate. While this gap does not pose any immediate problem for the organisation, the Trustees are aware of the need to rebuild Core reserve levels and, together will senior management, will take appropriate steps.

Fundraising

TRAFFIC does not actively fundraise from the public, although there is the facility to donate on the TRAFFIC website. TRAFFIC does not engage in face-to-face fundraising, telephone fundraising, or direct mail campaigns. There were no licensed street collections in the reporting period. We do not use commercial participators.

All Trustees are aware of the CC20 guidance from the Charity Commission and any future fundraising will be conducted in line with CC20. TRAFFIC contributed to the Fundraising Regulator during the year in support of the Fundraising Code of Conduct.

There have been no formal complaints concerning our fundraising practice during the reporting period.

Statement of Trustees’ responsibilities

The Trustees (who are also directors of TRAFFIC International for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom

Generally Accepted Accounting Practice), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the surplus or deficit of the charitable company and group for that period. In preparing these financial statements, the Trustees are required to:

CHARITY COMMISSION REPORT FY24 30

• Select suitable accounting policies and then apply them consistently;

• Make judgements and accounting estimates that are reasonable and prudent;

• Observe the methods and principles in the Charities Statement of Recommended Practice (SORP);

• State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• Prepare the financial statements on the going concern basis unless it is inappropriate

to presume that the charitable company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the Trustees at the date of approval of this report confirms that:

• So far as the Trustee is aware, there is no relevant audit information of which the Charity’s auditor is unaware; and

• The Trustee has taken all the steps that he/ she ought to have taken as a Trustee in

order to make himself/herself aware of any relevant audit information and to establish that the Charity’s auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

Structure, governance and management

TRAFFIC was established in 1976 by the Species Survival Commission of IUCN (the International Union for Conservation of Nature), largely to support the implementation of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES is an international agreement between more than 180 governments that aims to ensure international trade in specimens of wild animals and plants does not threaten their survival. Over its first two decades of operation, TRAFFIC developed as a network of offices supported by IUCN and WWF and operated as a joint conservation programme of these two international conservation organisations. TRAFFIC International was established in the UK and registered with the Charity Commission on 23rd July 1999 to provide a base for TRAFFIC’s global co-ordinating office.

In 2017, a decision was made by WWF, IUCN and TRAFFIC International to consolidate governance and management of TRAFFIC operations worldwide under the UK Charity.

New Articles of Association were adopted in June 2017, providing for an increased number of nine Trustees; up to three each appointed by WWF and IUCN as founder members, and up to another three independent Trustees. Subsequently, in June 2018, the Trustees agreed to merge five overseas offices into the UK charity as branches from 1st July 2018.

Since FY19, the TRAFFIC International accounts thus have incorporated Central Africa, East Africa, Southern Africa, China, Southeast Asia, and Viet Nam as branch or subsidiary offices. With Board approval, a China representative office was established in FY20 as was a Malaysian company registered by guarantee. Again with Board approval, registered offices were established in Belgium and Tanzania in FY22. The registered offices in Belgium, Malaysia and Tanzania are treated as subsidiaries in the organisation’s UK charity accounts. All seven TRAFFIC entities are located in countries of key importance to wildlife trade and biodiversity conservation.

31 CHARITY COMMISSION REPORT FY24

Affiliated offices in India and Japan continued to operate as internal divisions of their respective WWF hosts and are not incorporated into the charity in a legal sense.

The Board delegates day-to-day management of the Charity to Richard Scobey, Executive Director and Chief Executive Officer, who appoints the Senior Leadership Team, who, for the purposes of regulatory reporting, are collectively the Key Management Personnel along with the Trustees. The Senior Leadership Team develops strategies and

plans for the Board to scrutinise and approve. It subsequently monitors and reports on performance against targets.

As provided for under TRAFFIC International’s Articles of Association, the Board has established an Operations Committee chaired by a Trustee with the delegated responsibility to review information on budgets, financial performance, organisational development and business risk and to provide advice and recommendations to TRAFFIC management and the Board of Trustees.

Trustees

The Trustees who served during the year, unless otherwise stated, were as follows:

• Justin Mundy, current Chair (appointed August 2024)

• Mark Halle, previous Chair (completion of term July 2024)

• Pam Davis (appointed May 2023)

• Jeremy Eppel (completion of term August 2023)

• Viviana Figueroa (appointed November 2023)

• Ginette Hemley (completion of term July 2023)

• Jonathan Hutton

• Aban Marker Kabraji

• Jennifer Mohammed-Katerere (resigned September 2023)

• Alistair Monument (appointed August 2023)

• Jacque Pitteloud (appointed January 2023; resigned August 2023)

• Kavita Prakesh-Mani (appointed August 2023)

• Heather Sohl

Members of the Board of Trustees are directors for the purpose of company law and Trustees for the purpose of charity law. The company is limited by guarantee. Therefore, no Trustee had any beneficial interest.

Appointment of Trustees

The role of the Trustees is collectively, as a board, to ensure delivery of the Charity’s objectives, set its strategic direction, and uphold its values. Trustees have a fundamental and legal obligation to act in the best interests of the Charity, and in accordance with the Charity’s governing documents. The Trustees oversee the management and operation of the Charity subject to the provisions of the relevant acts (Charities Act 2011; Companies Act 2006 and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” second edition

issued in January 2019) and the Memorandum and Articles of Association, and any directions given by special resolution. TRAFFIC’s Trustees are drawn from within the broad umbrella of its partner organisations as well as the wider conservation community and bring together an extensive range of expertise in terms of programmatic, technical, financial and administrative skills. Terms of reference for the Board of Trustees (Directors) describe the responsibilities of the board and the role of key officers.

CHARITY COMMISSION REPORT FY24 32

TRAFFIC’s conflict of interest policy notes that Trustees have a fundamental and legal obligation to act in the best interests of the Charity, and in accordance with the Charity’s governing documents. Trustees who are employees of WWF and IUCN are further bound by the undertaking dated 17 September 1999 made on behalf of the two founding members of the Charity. This document, addressed to the Charity Commission, states on behalf of both organisations that TRAFFIC will function as an autonomous body and that

neither WWF or IUCN will be able to define or restrict the activities of the Charity. Legally and professionally, Trustees therefore serve in a personal and voluntary capacity and not as representatives of their organisations. Trustees may serve for a maximum of two consecutive three-year terms, then must step down. Due to the number of trustees whose terms were coming to an end in 2022/2023, the Trustees agreed, on an exceptional basis, to a one-year extension of the previous Board Chair’s term which ended in July 2024.

Trustees’ induction and training

When an individual accepts an invitation to become a Trustee, as part of the induction process, he or she receives an initial induction pack and meets with a senior manager of TRAFFIC to review the contents of the induction pack and supplementary materials; review responsibilities of Trustees; review current financial situation and general funding sources; review TRAFFIC’s

organizational chart, and the Charity’s role in the larger TRAFFIC organisation; and review planned future projects and activities. They are regularly provided with financial and programmatic information as well as updates on relevant developments in the UK charity sector. Key documents are provided through a comprehensive governance manual.

Remuneration of key management personnel

The Trustees consider the Board of Trustees and the Senior Leadership Team comprise the Key Management Personnel of the Charity in charge of directing, controlling, and operating the Charity on a day-to-day basis. All Trustees give their time freely and no Trustee received remuneration in either year. Details of Trustees’ expenses and related party transactions are disclosed in Note 6 to the accounts. The Charity benchmarks remuneration of its Senior Leadership Team against comparable roles in other charities of a similar size and complexity,

within a specified pay band. Each member of the Senior Leadership Team receives an annual cost of living salary increase, which takes into account inflation, changes in national average earnings and pay awards elsewhere in the charity or public sector. The award is made subject to affordability and is paid at the same rate as applied to all other eligible staff in the Charity. Increases to the Executive Director’s salary that are above the annual cost-of-living salary increase are reviewed and approved by the Board of Trustees.

Public benefit

TRAFFIC is a wildlife conservation charity whose vision is of a world where wildlife trade is managed in a way that maintains healthy wildlife populations and ecosystems; contributes to meeting human needs; supports local and national economies; and helps motivate commitments to conserve wild species and habitats.

The organisation’s efforts are therefore focused not only on conserving biological diversity but also on protecting and maintaining the many “ecosystem goods and

services” that are or may be threatened by unsustainable or illegal wildlife trade.

In reviewing TRAFFIC’s charitable objects and as part of planning and implementing our programme of work, the Trustees, have taken account of the Charity Commission’s guidance on public benefit. The Trustees have considered how TRAFFIC’s work will consistently contribute to the Charity’s aims and objectives. TRAFFIC’s main areas of charitable activity are detailed throughout this report.

33 CHARITY COMMISSION REPORT FY24

The Trustees’ report (which incorporates the requirements of the Strategic Report) was approved by the board on ………………………..and signed on its behalf by:31st March 2025

Justin Mundy Chair

CHARITY COMMISSION REPORT FY24 34

ADMINISTRATIVE INFORMATION

TRUSTEES:	Mark Halle, Chair	REGISTERED	David Attenborough
(As of 30 June 2024)	Aban Marker Kabraji Pam Davis Viviana Figueroa	OFFICE:	Building Pembroke Street Cambridge
	Jon Hutton		CB2 3QZ
	Alistair Monument		United Kingdom
	Kavita Prakash-Mani
	Heather Sohl
COMPANY	Mr R Scobey	SOLICITORS:	Mills and Reeve
SECRETARY:			Botanic House
			98–100 Hills Rd
			Cambridge
			CB2 1PH
EXECUTIVE	Mr R Scobey
DIRECTOR:
COMPANY	3785518	STATUTORY	HaysMac LLP
REGISTERED		AUDITOR:	10 Queen Street Place
NUMBER:			London
			EC4R 1AG
CHARITY	1076722	BANKERS:	Barclays Bank
REGISTERED			Bene’t Street
NUMBER:			Cambridge
			CB2 3PZ

35 CHARITY COMMISSION REPORT FY24

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRAFFIC INTERNATIONAL: YEAR ENDED 30 JUNE 2024

OPINION

We have audited the financial statements of TRAFFIC International for the year ended 30 June 2024 which comprise Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group and parent charitable company’s affairs as at 30 June 2024 and of the group and parent charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements

that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant

doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and,

except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial

CHARITY COMMISSION REPORT FY24 36

statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we

are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which

the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the Trustees’ Report have been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS

As explained more fully in the trustees’ responsibilities statement set out on pages 29 and 30, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

37 CHARITY COMMISSION REPORT FY24

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

of inappropriate or improper journal entries and the manipulation of accounting judgements and estimates, including the recognition of income at the year-end. Audit procedures performed by the engagement team included:

Our objectives are to obtain reasonable assurance about of inappropriate or improper journal entries and the whether the financial statements as a whole are free from manipulation of accounting judgements and estimates, material misstatement, whether due to fraud or error, including the recognition of income at the year-end. Audit and to issue an auditor’s report that includes our opinion. procedures performed by the engagement team included: Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with • Inspecting correspondence with regulators and tax ISAs (UK) will always detect a material misstatement when authorities; it exists. Misstatements can arise from fraud or error and • Discussions with management including consideration are considered material if, individually or in the aggregate, of known or suspected instances of non-compliance with they could reasonably be expected to influence the laws and regulation and fraud; economic decisions of users taken on the basis of these financial statements. • Evaluating management’s controls designed to prevent

• Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

• Evaluating management’s controls designed to prevent and detect irregularities;

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• Reviewing minutes of trustees meeting during the year

• Identifying and testing journals, in particular journal entries posted around year end; and

• Challenging assumptions and judgements made by management in their critical accounting estimates

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulatory requirements of the Company and Charity law applicable in England and Wales, and overseas branches and subsidiaries complying with local legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, and consider other factors such as income tax, payroll tax and sales tax.

A further description of our responsibilities for the audit payroll tax and sales tax. of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/ We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements auditorsresponsibilities. This description forms part of our auditor’s report. (including the risk of override of controls) and determined that the principal risks were related to the posting

USE OF OUR REPORT This report is made solely to the charitable report and for no other purpose. To the fullest Steven Harper (Senior company’s members, as a body, in accordance extent permitted by law, we do not accept or Statutory Auditor) with Chapter 3 of Part 16 of the Companies assume responsibility to anyone other than For and on behalf of Act 2006. Our audit work has been undertaken the charitable company and the charitable HaysMac LLP, so that we might state to the charitable company’s members, as a body, for our audit Statutory Auditors company’s members those matters we are work, for this report, or for the opinions we required to state to them in an Auditor’s have formed. 10 Queen Street Place London, EC4R 1AG

CHARITY COMMISSION REPORT FY24 38

TRAFFIC INTERNATIONAL FINANCIAL STATEMENTS: YEAR ENDED 30 JUNE 2024

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT: YEAR ENDED 30 JUNE 2024

Notes Income from: Donations Charitable activities Investments Other Donated services Total 5 Expenditure on: Raising funds – grant and contract proposal development Charitable activities Total 6 Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted Funds Restricted Funds 2024 Total £ £ £ 931,601 - 931,601 39,008 11,252,664 11,291,672 1 102 103 28,899 1,972 30,871 - - - 999,509 11,254,738 12,254,247 261,439 - 261,439 1,272,400 11,920,358 13,192,758 1,533,839 11,920,358 13,454,197 (534,330) (665,620) (1,199,950) 302,491 (302,491) - (231,839) (968,111) (1,199,950) 2,364,745 2,657,575 5,022,320 2,132,906 1,689,464 3,822,370	2023 Total £ 1,034,262 10,959,396 103 23,815 48,806
		12,066,382
		246,766 12,715,639
		12,962,405
		(896,023) -
		(896,023)
		5,918,343
		5,022,320

All activities in both years arise from continuing activities. There were no other recognised gains or losses other than those shown in the statement above and the net income for the year.

The notes on pages 39 to 6142 to 63 form an integral part of these financial statements.

Full comparative figures for the year ended 30 June 2023 are shown in note 20.

39 CHARITY COMMISSION REPORT FY24

BALANCE SHEETS: AS AT 30 JUNE 2024

		Group	Charity	Group	Charity
		2024	2024	2023	2023
	Notes	£	£	£	£
Fixed Assets
Intangible fixed assets	10	-	-	990	990
Tangible fixed assets	11	72,360	60,211	41,170	38,080
		72,360	60,211	42,160	39,070
Current Assets
Debtors	12	4,043,879	3,924,026	5,702,942	5,280,453
Cash at bank and in hand		3,207,834	2,994,132	3,362,293	2,991,868
		7,251,713	6,918,158	9,065,235	8,272,321
Liabilities
Creditors: amounts falling due
within one year	13	3,501,701	3,323,898	4,085,075	3,454,517
Net current assets		3,750,012	3,594,258	4,980,160	4,817,804
Total assets less current liabilities
being net assets		3,822,370	3,654,470	5,022,320	4,856,874
The funds of the Charity
Restricted funds		1,689,464	1,853,244	2,657,575	2,836,944
Unrestricted		2,132,906	1,801,226	2,364,745	2,019,930
Total Charity funds	16	3,822,370	3,654,470	5,022,320	4,856,874

The deficit of the Charity before consolidation was £1,202,404 (2023: deficit £789,197). Further details are presented in note 3.

The financial statements of TRAFFIC International (company number 3785518) were approved by the Board of Trustees and authorised for issue on and signed on its behalf by31st March 2025 :

Justin Mundy Chair

The notes on pages 39 to 61 form an integral part of these financial statements.42 to 63

CHARITY COMMISSION REPORT FY24 40

CONSOLIDATED CASH FLOW STATEMENT: YEAR ENDED 30 JUNE 2024

Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: Dividends, interest and rents from investments Transfer of assets Purchase of fixed assets Net cash outflow from investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 July 2023 Cash and cash equivalents at 30 June 2024 Reconciliation of net cash flows from operating activities: Net income Depreciation and amortisation Loss on fixed asset disposal Investment income Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash flows from operating activities	2024 Total £ (86,829) 103 - (67,733) (67,630) (154,459) 3,362,293 3,207,834 (1,199,950) 34,846 2,686 (103) 1,659,064 (583,373) (86,829)	2023 Total £ (376,150) 103 - (29,314)
		(29,211)
		(405,361)
		3,767,654
		3,362,293
		(869,023) 33,459 471 (103) 33,797 452,249
		(376,150)

The notes on pages 39 to 61 form an integral part of these financial 41 to 62 statements. Cash and cash equivalents are represented by cash at bank and in hand.

41 CHARITY COMMISSION REPORT FY24

NOTES TO THE ACCOUNTS: YEAR ENDED 30 JUNE 2024

1. Accounting policies

TRAFFIC International is a company limited by guarantee and registered in England and Wales (3785518), not having a share capital, and as a Registered Charity with the Charity Commission for England and Wales (1076722). The Charity is not liable to corporation tax on its charitable activities and further details are shown above within the Reference and Administrative details on page 31. 34.

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Charity’s financial statements.

• a) Accounting conventions The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (Second Edition effective 1 January 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019; and the Companies Act 2006. The Charity meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in Pounds Sterling rounded to the nearest Pound.

• b) Going concern

• The Trustees are reasonably confident that there are no material uncertainties in TRAFFIC’s ability to continue as a going concern and the Group is well placed to manage its business risks successfully. TRAFFIC regularly monitors its pipeline of projects to ensure its conservation objectives and operational needs are met. The Group has significant cash resources and a significant level of net assets. Accordingly, the Trustees continue to adopt the going concern basis. In carrying out this assessment, the Group has also considered the impact of the recent developments in the world and the related political and economic uncertainty.

• c) Consolidation These financial statements consolidate the results of TRAFFIC International Southeast Asia, TRAFFIC International East Africa and TRAFFIC International Europe on a line-by-line basis. TRAFFIC International Southeast Asia is incorporated in Malaysia, East Africa in Tanzania and Europe in Belgium. Transactions and balances between charitable company and its subsidiaries have been eliminated from the consolidated financial statements. There are no significant differences between the accounting policies of the parent charitable company and its subsidiaries. In addition to the subsidiary undertakings, the charitable company has a number of branches which are treated as being part of the results of the charitable company in line with section 25 of the Statement of Recommended Practice. As permitted by Section 408 of Companies Act 2006, no separate Statement of Financial Activities for the Charity has been presented. However, the results of the Charity before consolidation are summarised in note 3.

• d) Income

• Income is recognised and included in the statement of financial activities when the Charity has entitlement to the income, it is probable that the income will be received, and the amount can be reliably measured. Income received relating to future accounting periods is deferred and recognised as a creditor within the balance sheet.

Donated services are recognised based on the best estimate of the value to the charity, having made the assessment of what the charity would be prepared to pay.

• e) Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. VAT cannot be recovered and is reported as part of the expenditure to which it relates.

CHARITY COMMISSION REPORT FY24 42

Costs of raising funds:

These represent costs of internal allocations for staff involvement in implementation of the Charity’s funding strategy, donor liaisons and assistance with proposal development and submission.

Charitable activities:

This includes expenditure incurred in the fulfilment of the objectives of the charitable company including allocated overheads.

Support costs:

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Support costs are allocated on a pro-rata basis according to the total cost of activities undertaken directly and grant funding of activities.

Governance costs:

This includes expenditure incurred in the general running and administering of the charitable company. These costs include external audit, legal advice for Trustees and costs associated with constitutional and statutory requirements.

f) Tangible fixed assets

Tangible fixed assets are shown at cost less accumulated depreciation. Depreciation is provided to write off the cost of tangible fixed assets over their estimated useful lives of three years on a straight-line basis. The current capitalisation policy is £400.

Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.

g) Intangible fixed assets

Intangible assets are shown at cost less accumulated amortisation. Amortisation is calculated on a straightline basis to allocate the assets value evenly over a three-year period. The current capitalisation threshold is £400.

Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.

h) Funds

The Charity records two categories of income—unrestricted and restricted funds.

Unrestricted funds

Unrestricted funds can be used for any purpose approved by the Trustees within the objects of the Charity. Funds that are received without external restriction, and for use in any of the Charity’s activities including operational and establishment costs are treated as unrestricted funds and may be designated by the Trustees for particular purposes as deemed appropriate.

Restricted funds

Resources are allocated to restricted funds according to the limitations on their use specified by the donors or other providers.

43 CHARITY COMMISSION REPORT FY24

Restricted funds are allocated to specific activities and outputs usually under the terms of a project contract accompanying the grant. Detailed accounts are maintained for restricted projects including income, expenditure and fund balances by donor. The majority of projects are short-term in nature with grants being expended between one and five years. Deficits within restricted project funds which occur when income is not entitled to be recognised in the current financial period are carried forward to the next period. Where further funding is not anticipated, a transfer is made from unrestricted funds to cover the deficit.

The Charity does not have any endowment funds.

i) Cash and cash equivalents

• Cash at bank and in hand includes interest and non-interest-bearing accounts which are highly liquid.

j) Employee benefits – Pensions

• The Charity operates a defined contribution scheme, the assets of which are held separately from those of the Charity. The Charity’s contributions are charged to expenditure in the year they are incurred.

k) Foreign exchange

Transactions denominated in foreign currencies are recorded at the daily rate of exchange. Assets and liabilities denominated in foreign currencies are translated into Sterling at the rates of exchange ruling at the year end. Gains and losses on re-translation are dealt with as part of the deficit or surplus on ordinary activities for the financial year.

l) Operating lease agreements

• Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

m) Financial instruments

Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs). The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure.

CHARITY COMMISSION REPORT FY24 44

3. Result of the charity

. Result of the charity
Income Donations Charitable activities Other income Expenditure Charitable activities and raising funds Funds transferred to subsidiary undertaking Net income Funds brought forward Funds carried forward	2024 2023 £ £ 857,831 1,005,427 10,948,130 10,805,941 41,418 77,567
	11,847,379 11,888,935
	13,049,783 12,678,132
	13,049,783 12,678,130
	-1,202,404 -789,197 4,856,874 5,646,071
	3,654,470 4,856,874

4. Result of subsidiary undertakings

TRAFFIC International Southeast Asia is a company incorporated in Malaysia and is a wholly owned subsidiary of TRAFFIC International. It was incorporated in January 2021 and carries out the activities of the charity in the region. Prior to incorporation, the activities in the region were run as a branch of TRAFFIC International. On 1 February 2021, the activities and net assets of the branch were transferred to the new company. The results have been included in these financial statements from that date, a summary of which is provided below.

Income Charitable activities Expenditure Charitable activities Net income Funds brought forward Funds carried forward Funds Total assets Total liabilities	2024 2023 £ £ 1,033,931 629,360
	1,033,931 629,360
	887,906 782,933
	887,906 782,933
	146,025 (153,573) (913) 152,661
	145,112 (912)
	216,648 102,178 (71,536) (103,090)
	145,112 (912)

45 CHARITY COMMISSION REPORT FY24

TRAFFIC International East Africa is a company incorporated in Tanzania and is a wholly owned subsidiary of TRAFFIC International. It was incorporated in December 2021 and carries out the activities of the charity in the region. Prior to incorporation, the activities in the region were run as a branch of TRAFFIC International. On 1 January 2022, the activities and net assets of the branch were transferred to the new company. The results have been included in these financial statements from that date, a summary of which is provided below.

Income Charitable activities Net assets transferred from parent undertaking upon incorporation Expenditure Charitable activities Net income Funds brought forward Funds carried forward Funds Total assets Total liabilities	2024 2023 £ £ 1,047,795 1,480,581 - -
	1,480,581 1,480,581
	1,210,070 1,391,503
	1,210,070 1,391,503
	(162,275) 89,078 139,283 50,205
	(22,992) 139,283
	101,754 175,453 (124,746) (36,170)
	(22,992) 139,283

TRAFFIC International Europe is a company incorporated in Belgium and is a wholly owned subsidiary of TRAFFIC International. It was incorporated in December 2021 and carries out the activities of the charity in the region. Prior to incorporation, the activities in the region were run by TRAFFIC International.

Income Charitable activities Expenditure Charitable activities Net income Funds brought forward Funds carried forward Funds Total assets Total liabilities	2024 2023 £ £ 225,532 214,009
	225,532 214,009
	207,966 166,102
	207,966 166,102
	17,566 47,907 28,215 (19,692)
	45,781 28,215
	22,903 17,807 22,879 10,408
	45,782 28,215

CHARITY COMMISSION REPORT FY24 46

5. Income

All of TRAFFIC International’s activity relates to ensuring that trade in wild species is legal and sustainable, for the benefit of All of TRAFFIC International’s activity relates to ensuring that trade in wild plants and animals is not a threat to the planet and people.the conservation of nature.

he conservation of nature. e planet and people.
Donations IUCN, WWF & other TRAFFIC entities Corporate and Individuals Charitable activities IUCN, WWF & other TRAFFIC entities Governments Multilaterals Foundations and charities Corporate and Individuals Other income Bank interest Donated services 2023 Comparative Donations IUCN, WWF & other TRAFFIC entities Corporate and Individuals Charitable activities IUCN, WWF & other TRAFFIC entities Governments Multilaterals Foundations and charities Corporate and Individuals Other income Bank interest Donated services	Unrestricted Restricted 2024 Total £ £ £ 919,076 - 919,076 12,525 - 12,525
	931,601 - 931,601 39,132 1,738,329 1,777,461 0 7,130,274 7,130,274 0 544,747 544,747 (124) 1,628,538 1,628,414 0 210,878 210,878
	39,008 11,252,766 11,291,774 25,240 1,972 27,212 3,660 0 3,660 - - -
	999,509 11,254,738 12,254,247
	Unrestricted Restricted 2023 Total £ £ £ 1,001,816 - 1,001,816 32,446 - 32,446
	1,034,262 - 1,034,262 49,546 2,475,754 2,525,300 - 5,499,004 5,499,004 - 479,645 479,645 1,522 1,639,903 1,641,425
	- 814,125 814,125 51,068 10,908,431 10,959,499 23,258 - 23,258 557 - 557 - 48,806 48,806
	1,109,145 10,957,237 12,066,382

Donated services in FY23 relate to pro bono legal advice received for the purposes of project delivery from Donated services relate to pro bono legal advice received for the purposes of project delivery from various legal various legal advisors through a relationship with International Lawyers Project, a registered charity co-advisors through a relationship with International Lawyers Project, a registered charity co-ordinating provision of ordinating provision of free legal advice to the not-for-profit sector. free legal advice to the not-for-profit sector. w

47 CHARITY COMMISSION REPORT FY24

6. Expenditure

All of TRAFFIC International’s activity relates to ensuring that trade in wild species is legal and sustainable, for the benefit of All of TRAFFIC International’s activity relates to ensuring that trade in wild plants and animals is not a threat to the planet and people.the conservation of nature.

Costs of raising funds Charitable activities 2023 Comparative Costs of raising funds Charitable activities	Costs of raising funds Charitable activities 2023 Comparative Costs of raising funds Charitable activities	Direct costs Support costs 2024 Total £ £ £ - 261,439 261,439 11,249,809 1,942,949 13,192,758 11,249,809 2,204,388 13,454,197 Direct costs Support costs 2023 Total £ £ £ - 246,766 246,766 10,964,014 1,751,625 12,715,639 10,964,014 1,998,391 12,962,405
Analysis of expenditure: Costs of raising funds Staff costs Operational Establishment Travel Depreciation Foreign exchange gain Governance Charitable activities Staff costs Operational Establishment Professional fees Project sub-contracts Travel Depreciation and amortisation Foreign exchange (gain)/loss Governance Total expenditure		Unrestricted Restricted 2024 Total £ £ £ 232,365 0 232,365 3,931 0 3,931 3,041 0 3,041 5,848 0 5,848 1,089 0 1,089 3,990 0 3,990 11,175 0 11,175 261,439 0 261,439 386,120 6,609,772 6,995,892 118,366 2,101,443 2,219,809 91,549 1,068,894 1,160,443 0 103,268 103,268 0 1,223,389 1,223,389 176,083 831,547 1,007,630 33,766 0 33,766 120,130 (17,955) 102,175 346,386 0 346,386 1,272,400 11,920,358 13,192,758 1,533,839 11,920,358 13,454,197

CHARITY COMMISSION REPORT FY24 48

2023 Comparative

Analysis of expenditure:

Costs of raising funds Staff costs Operational Establishment Travel Depreciation Foreign exchange gain Governance Charitable activities Staff costs Operational Establishment Professional fees Project sub-contracts Travel Depreciation and amortisation Foreign exchange (gain)/loss Governance Total expenditure	Unrestricted Restricted 2023 Total £ £ £ 226,523 - 226,523 5,268 - 5,268 3,572 - 3,572 4,760 - 4,760 1,051 - 1,051 (4,190) - (4,190) 9,782 - 9,782
	246,766 - 246,766
	271,463 6,641,147 6,912,610 160,762 2,267,677 2,428,439 109,004 871,496 980,500 - 89,045 89,045 7,500 864,036 871,536 145,257 800,545 945,802 32,842 - 32,842 (127,870) 276,981 149,111 305,754 - 305,754
	904,712 11,810,927 12,715,639
	1,151,478 11,810,927 12,962,405

49 CHARITY COMMISSION REPORT FY24

7. Support costs

Professional fees Auditor’s remuneration Other audits Staff costs Operational Establishment costs Travel Foreign exchange gain Total 2023 Comparative Professional fees Auditor’s remuneration Other audits Staff costs Operational Establishment costs Travel Foreign exchange gain Total		Support Governance 2024 £ £ £ (0) 83,489 83,489 0 37,488 37,488 0 15,157 15,157 1,581,391 206,489 1,787,880 0 3,494 3,494 222,691 2,702 225,393 42,745 5,197 47,942 3,546 3,546
		1,846,827 357,562 2,204,389
		Support Governance 2023 £ £ £ - 97,278 97,278 - 28,054 28,054 - 15,157 15,157 1,465,771 168,066 1,633,837 - 3,909 3,909 183,792 2,650 186,442 33,292 3,531 36,823 (3,109) (3,109)
		1,682,855 315,536 1,998,391

Support costs are allocated on a pro-rata basis according to the total cost of activities undertaken directly and grant funding of activities. Fees payable to the Charity’s auditor are for the audit of the charity’s annual financial statements.

CHARITY COMMISSION REPORT FY24 50

8. Employee and Trustee Information

a) Staff costs: Wages and salaries Social security costs Pension costs Other benefits Other staff costs	2024 £ 5,586,049 1,029,142 609,158 110,768 99,627 7,434,744	2023 £ 5,522,518 1,035,132 559,885 88,785 100,879
		7,307,199

Other staff costs include an accrual for untaken annual leave outstanding at the year end, in line with the requirements of FRS102.

requirements of FRS102.
b) The average number of persons, employed during the year was: Management and Administration Programme and Research	2024 77 105 182	2023 71 131
		202

The above numbers do not include Trustees who are not permitted to receive remuneration for their duties. Six trustees received payments for expenses during 2024 totalling £6,568 (2023 – £5,306).

c) Employees with emoluments over £60,000 were: £60,001 – £70,000 £70,001 – £80,000 £80,001 – £90,000 £90,001 – £100,000 £100,001 - £110,000 £110,001 – £120,000 £120,001 – £130,000	2024 7 4 3 0 1 1 0 16	2023 7 1 4 4 1 1
		18

d) Senior leadership team Total remuneration of the Key Management Personnel (the Trustees with the Senior Leadership Team comprising the Executive Director and other senior managers), including pension contributions excludin social security costs, was £649,612 (2023: £754,377) for eleven (2023: ten) staff members. No Trustee received nor waived any remuneration.

9. Employee benefits - Pension costs

The Charity’s pension contributions are made to defined contribution schemes. The assets of the schemes are held separately from those of the Charity in independently administered funds. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £469,800 (2023: corrected to £401,912 from £559,885).

51 CHARITY COMMISSION REPORT FY24

10. Intangible fixed assets GROUP Cost: At 1 July 2023 Additions Disposals At 30 June 2024 Amortisation: At 1 July 2023 Additions Eliminated on disposals At 30 June 2024 Net book value: At 30 June 2024 At 30 June 2023 CHARITY Cost: At 1 July 2023 Additions At 30 June 2024 Amortisation: At 1 July 2023 Charge for year At 30 June 2024 Net book value: At 30 June 2024 At 30 June 2023	Computer Software £ 94,174 - - 94,175 93,185 990 - 94,175 - 990 Computer Software £ 94,175 - 94,175 93,185 990 94,175 - 990

CHARITY COMMISSION REPORT FY24 52

11. Tangible fixed assets

GROUP Cost: At 1 July 2023 Additions Disposals At 30 June 2024 Depreciation: At 1 July 2023 Charge for year Released on disposals At 30 June 2024 Net book value: At 30 June 2024 At 30 June 2023 CHARITY Cost: At 1 July 2023 Additions Disposals At 30 June 2024 Depreciation: At 1 July 2023 Charge for year Released on disposals At 30 June 2024 Net book value: At 30 June 2024 At 30 June 2023	Leasehold improvements Fixtures & Fittings Vehicles Computer Equipment Total £ £ £ £ £ - 38,097 55,208 225,435 318,740 1,847 15,807 50,079 67,733 (485) (9,484) (9,969)
	1,847 53,419 55,208 266,030 376,504
	- 32,043 55,208 190,319 277,570 406 6,787 26,664 33,857 (431) (6,852) (7,283)
	406 38,399 55,208 210,131 304,144
	1,441 15,020 0 55,899 72,360
	- 6,054 - 35,116 41,170
	Leasehold improvements Fixtures & Fittings Vehicles Computer Equipment Total £ £ £ £ £ - 36,529 55,208 211,988 303,725 - 8,102 47,228 55,330 (485) (5,750) (6,235)
	0 44,146 55,208 253,466 352,820
	- 31,130 55,208 179,307 265,645 - 4,985 25,528 30,513 - (431) (3,118) (3,549)
	- 35,684 55,208 201,717 292,609
	- 8,462 - 51,749 60,211
	- 5,399 - 32,681 38,080

53 CHARITY COMMISSION REPORT FY24

12. Debtors: amounts falling within one year

2. Debtors: amounts falling within one year
Trade debtors Other debtors Amounts held by hosts Prepayments Accrued income	Group Charity Group Charity 2024 2024 2023 2023 £ £ £ £ 3,010,435 3,008,944 668,044 629,286 351,078 304,836 153,628 45,232 122,911 75,726 518,608 271,318 149,479 124,544 111,616 91,731 409,976 409,976 4,251,046 4,242,886
	4,043,879 3,924,026 5,702,942 5,280,453

Amounts held by host relates to cash amounts held by hosts on behalf of branches.

13. Creditors: falling due within one year

Trade creditors Other creditors Accruals Salary and tax creditors Amounts owed to hosts Amounts owed to subsidiary undertakings Deferred income	Group Charity Group Charity 2024 2024 2023 2023 £ £ £ £ 103,389 96,892 219,131 213,445 82,150 61,325 65,330 28,337 1,720,892 1,648,110 1,451,138 1,386,638 33,635 30,853 34,539 25,948 25,026 25,026 497,969 39,775 0 (33,977) - 48,056 1,536,609 1,495,669 1,816,968 1,712,318
	3,501,701 3,323,898 4,085,075 3,454,517

Amounts owed to hosts relate to cash balances owed to hosts by branches.

14. Deferred income

Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year	2024 Total £ 1,816,968 (1,816,968) 1,536,609 1,536,609	2023 Total £ 1,930,142 (1,930,142) 1,816,968
		1,816,968

Deferred income represents income received from donors in advance of contracted activity.

CHARITY COMMISSION REPORT FY24 54

15. Analysis of charitable funds

15. Analysis of charitable funds
Unrestricted funds Restricted funds Major projects:	1 July 2023 Income Expenditure Transfers 30 June 2024 £ £ £ £ £ 2,364,745 999,509 (1,533,839) 302,491 2,132,906
Postcode Lottery TRACE	161,739 336,685 (263,716) - 234,708
Countering Wildlife Trafficking in Angola	203,583 114,298 (310,986) - 6,895
CITES Elephant Trade Information System	(7,540) 145,577 (197,776) - (59,739)
WTRAPS	356,036 309,524 (714,366) (15,427) (64,233)
Reducing Trade Threats to Wild Species and Ecosystems Through Strengthened Knowledge in Africa	177,369 481,288 (454,119) - 204,538
Law Enforcement in Madagascar: a United Response to Combating Wildlife Crime	457,170 208,600 (374,187) - 291,583
OES Crime Convergence Indonesia	(25,181) 453,538 (504,010) - (75,653)
Leveraging legality along China’s timber supply to reduce deforestation	559,496 838,570 (1,097,321) 12,362 313,107
USAID Saving Threatened Wildlife	124,873 319,496 (506,426) (3) (62,060)
RTI Tuhifadhi Maliasili	(131,087) 319,305 (227,238) - (39,020)
Strengthening East Africa Wildlife Law Enforcement	196,653 405,913 (506,585) 95,981
Money laundering and the illegal wildlife trade in China	141,788 198,965 (194,990) - 145,763
USAID West Africa Biodiversity & Low Emissions Development	(3,049) 397,068 (463,543) - (69,524)
TNRC Madagascar	155,895 198,030 (361,330) - (7,405)
Demand reduction, Enforcement and policies supporting the conservation of Elephants and Rhinos	195,602 648,212 (507,494) - 336,320
DR China Parrot Trade	34,947 171,557 (145,280) - 61,224
SA Wildlife Investigator Mentoring Scheme	115,927 358,096 (484,088) - (10,065)
INL Strengthening Criminal Justice in Philippines	7,956 164,379 (644,767) - (472,432)
USAID Forestry and Biodiversity Support	23,575 166,282 (158,932) - 30,925
INL Cameroon	- 297,250 (134,523) - 162,727
INL LAC	- 397,224 (113,414) - 283,810
INL Malaysia - Project Catalyse Darwin Plants & Fungi Other projects Total funds	- 513,283 (85,637) - 427,646 - 236,174 (563,224) - (327,050)
	2,745,752 7,679,313 (9,013,952) (3,068) 1,408,045
	(88,177) 3,575,425 (2,906,406) (299,423) 281,419
	2,657,575 11,254,738 (11,920,358) (302,491) 1,689,464
	5,022,320 12,254,247 (13,454,197) 0 3,822,370

During the year transfers of £302,491 were made from restricted to unrestricted funds. They were related to the treatment of cost recovery for project staff as well as write-off of foreign exchange variances and project balances allowed by donors.

55 CHARITY COMMISSION REPORT FY24

The negative balances in this note do not represent actual project deficits but relate to required statutory adjustments for income and expenditure recognition (FRS102).

Leveraging legality along China’s timber supply to reduce deforestation

Funded by Norwegian Agency for Development Cooperation

The project leverages China’s and Vietnam’s significant market role in the timber supply chain from source countries in the Congo Basin, to reduce unsustainable forestry operations and illegal timber trade. Along the supply chain, knowledge products, work with the financial sector and support for communication between agencies will increase detection and investigation, further deterring illegality.

Wildlife Trafficking, Response, Assessment and Priority Setting (Wildlife TRAPS) Project

Funded by USAID (United States Agency for International Development) via IUCN

TRAFFIC, in collaboration with IUCN, has devised the Wildlife TRAPS (Wildlife Trafficking, Response, Assessment, and Priority Setting Project) to develop and deliver a suite of ground-breaking partnerships and pioneering approaches to tackle wildlife crime between Africa and Asia. Wildlife TRAPS is building a collective understanding of the true character and scale of the response required through a series of targeted trade assessments looking at specific species and geographic regions.

Law Enforcement in Madagascar: a United Response to Combatting Wildlife Crime (LEMUR.CWC)

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The goal of LEMUR CWC is to reduce poaching and trafficking of endangered wildlife in Sub-Saharan Africa, with a focus on Madagascar. Progress towards this goal will be achieved through the delivery on three of the four Objectives articulated by the Bureau of International Narcotics and Law Enforcement Affairs (INL), namely: Objective 1: Build interdiction, investigative, and enforcement capacity to stop the transit of protected wildlife; Objective 2: Enhance prosecutorial and judicial capacity to successfully prosecute those illegally transiting wildlife products with adequate sentencing; and Objective 3: Encourage increased cross-border cooperation with neighbouring or source countries to more effectively combat wildlife trafficking.

OES Crime Convergence Indonesia

Funded by the U.S. Department of State’s Bureau of Oceans and International Environmental and Scientific Affairs (OES)

The project aims to identify, analyse, and map the illicit networks associated with conservation crimes and understand the links, where they may exist, between the different trafficking networks associated with conservation crimes in Indonesia, Vietnam, Cameroon and Brazil.

Strengthening East Africa Wildlife Law Enforcement

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The purpose of this project is to address law enforcement capacity shortfalls in East Africa by institutionalising training and providing online resources for critical law enforcement authorities to better address illegal wildlife trade.

Reducing Trade threats in Africa’s wild species and ecosystem Funded by ARCADIA

The purpose of the project is to strengthen actions to conserve and protect wildlife populations, areas of high biodiversity, and communities in Africa threatened by illegal and unsustainable wildlife trade, with a focus on trade to Asia. Building on the successes in the first phase of the ReTTA project, ReTTA Phase II expands the data gathering and analysis of vital wildlife trade knowledge by ourselves, partners and governments on the African continent and following primary trafficking routes into Asia promotes evidence-based solutions with those best placed to take remedial action. The project will continue to develop and promote some of the potentially game-changing solutions that were initiated in the first phase of the project.

CHARITY COMMISSION REPORT FY24 56

Demand reduction, Enforcement and policies supporting The conservation of Elephants and Rhinos - DETER Funded by the German Agency for International Cooperation (GIZ)

The goal of the project is to support elephant, rhino, and pangolin conservation by driving demand reduction, improved enforcement and increased political will to stop the illegal trade in wildlife products. This will be achieved through reducing consumer demand for elephant and rhino products in China and Viet Nam through providing leadership on demand reduction strategies and engaging key stakeholders to maximise the influence of interventions. The project will also support enforcement against IWT activities in China, selected neighbouring countries, and African countries through capacity building, trans-continental collaboration and improved communications. An enabling policy environment in Africa and China will be supported to facilitate these actions.

Countering Wildlife Trafficking in Angola

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The goal of this project is to reduce poaching and trafficking of endangered wildlife in Sub-Saharan Africa, with a particular focus on Angola. Progress towards this goal will be achieved through delivering on three of the four Objectives articulated by the Bureau of International Narcotics and Law Enforcement Affairs (INL), namely: Objective 1: Build interdiction, investigative, and enforcement capacity to stop the transit of protected wildlife; Objective 2: Enhance prosecutorial and judicial capacity to successfully prosecute those illegally transiting wildlife products with adequate sentencing; and Objective 4: Encourage increased cross-border cooperation with neighbouring or source countries to more effectively combat wildlife trafficking.

Tackling the Illegal Wildlife Trade through developing forensic capacity in Southern Africa Funded by the Postcode Animal Trust

The project aims to strengthen our activities relating to reducing illegal wildlife trade in Southern Africa, specifically through the development of wildlife forensic capacity to enhance wildlife law enforcement. The overall goal is to ensure that access to forensic science is available to support wildlife law enforcement in Malawi, Zambia, and Zimbabwe.

Tuhifadhi Maliasili.

Funded by USAID via RTI

The goal of the USAID Tuhifadhi Maliasili (TM) activity is to address dynamics that hinder habitat connectivity and the longterm persistence of biodiversity in Tanzania. RTI subcontracts TRAFFIC to implement activities concerning assessment of trade dynamics of threatened species, behaviour change interventions and strengthening of law enforcement and judicial capacity to combat wildlife crime. Activities help the TM Activity to achieve goal to strengthen policy frameworks for biodiversity conservation, natural resource management, improve sustainable tourism and reduce wildlife crime in Tanzania.

Scaling conservation of Himalayan plants and fungi through sustainable trade Funded by Defra Darwin Initiative

This project aims to improve local livelihoods, elevate traditional knowledge, and strengthen national and regional approaches to sustainable biodiversity-based trade.

Local livelihoods and biodiversity in the high-alpine Himalaya are threatened by wild plant and fungi overharvesting, climate change, illegal trade and inequitable supply chains. This has an impact across the region. As well as working with local partners to improve local livelihoods this ambitious project aims to amend policies, trade agreements, and legal frameworks along the trade chains from Nepal to consumer countries to include provisions for sustainable, traceable trade in wild plant and fungi ingredients, in line with CBD and CITES commitments.

Money Laundering and the Illegal Wildlife Trade in China.

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) This project aims to contribute to the INL goal of improving China’s will and capacity to investigate, arrest, prosecute, convict, and sentence to the fullest extent of the law the perpetrators of wildlife crime, with a focus

57 CHARITY COMMISSION REPORT FY24

on Anti Money Laundering (AML) approaches and anticorruption strategies. The project has developed guidelines for wildlife law enforcement agencies and courts to increase their understanding and implementation for the updated AML regulations in China. Training has been delivered including technical expertise to the Peoples Bank of China. TRAFFIC facilitates regular information sharing between provinces to strengthen law enforcement collaboration against wildlife trafficking.

Anti-Corruption and Combatting Wildlife Trafficking Activity – Madagascar Funded by USAID via WWF US

The goal of the project is to contribute to a reduction of corruption in natural resources to improve conservation outcomes. Anti-corruption actions are key to the good governance and management of Madagascar’s natural resources and biodiversity. To fight against issues posed by corruption, stakeholders and different levels must be engaged. TRAFFIC leads implementation of activities to improve the ability of the Malagasy government to use enforcement of financial crimes as an approach to tackle illegal wildlife trade and corruption. Building on extensive experience implementing court case monitoring programs in Madagascar, TRAFFIC also leads on the further development of court case monitoring efforts.

Development of a Comprehensive Mentoring Program for Junior Wildlife Investigators in South Africa Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The goal of the project is to reduce poaching and trafficking of endangered wildlife in Sub-Saharan Africa, with a particular focus on South Africa. This is the latest phase of a long term collaboration with INL to support mentoring for wildlife investigators since 2016. The aim is to provide an enhanced mentorship experience for all mentees and to develop tailored mentorship models for each provincial conservation agency and setting out a structure for continued mentoring of junior wildlife investigators beyond the life of the project.

Taking Charge: Strengthening Criminal Justice Response to Wildlife Crime in the Philippines Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The Philippines is a hotspot for illegal wildlife trade as a source, transit and destination. This project addresses key issues of low levels of arrests and investigations, lack of capacity and tools among law enforcement agencies, airports and ports acting as smuggling hotspots, and an ongoing high number of illegal wildlife sales in-country, particularly online.

Combatting the facilitators of the illegal wildlife trade in Cameroon.

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) This project addresses issues of capacity within the private and public sectors to identify, investigate and prosecute cases of financial crime linked to wildlife trafficking, including money laundering, tax evasion and corruption. It also aims to improve collaboration between the private and public sectors and with law enforcement counterparts in Nigeria.

Proyecto Interdicto: Strengthening Collaboration to Interdict Illegal Wildlife Trade at Key Airports in Latin America

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) With TRAFFIC’s expertise in wildlife trade issues and its previous successes in supporting the aviation sector to strengthen their practices against wildlife trafficking, this project will roll out an anonymous IWT reporting app at El Dorado International Airport, Colombia, and investigate automated detection technology solutions for Galapagos Ecological Airport’s (Ecuador) screening systems and build the capacity of airport and law enforcement staff at each airport to collaboratively respond to and prevent IWT to ultimately strengthen law enforcement effectiveness and interdiction of IWT at those two airports through improved flow of information between aviation and law enforcement).

CHARITY COMMISSION REPORT FY24 58

Project Catalyse (Catalysing Action in Malaysia to Strengthen Enforcement)

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) This project addresses persistent key issues, from high trafficking at border checkpoints to low levels of detections, arrests and prosecutions, all largely hinged on a lack of technical competency and tools among law enforcement agencies. The project aims to ensure that law enforcement agencies are: equipped with skills to detect/interdict illegal wildlife at 13 key ports, airports, borders crossings and mail services where a majority of wildlife enters, transits and exits illegally; upskilled to conduct financial investigations, anti-poaching patrols; tackle wildlife cybercrime; boost investigative and prosecutorial functions for wildlife crime through sentencing structures and information sharing nationally and regionally; able to integrate transparency mechanisms to tackle wildlife crime.

West Africa Biodiversity and Low Emissions Development

Funded by USAID via Tetra Tech

The West Africa Biodiversity and Low Emissions Development (WABiLED) Program is a four-year program with 3 core objectives: combat wildlife trafficking and enhance great ape conservation; reduce deforestation, forest degradation, and biodiversity loss in key transboundary forest landscapes; and reduce greenhouse gas emissions and increasing carbon sequestration from land use. TRAFFIC works in partnership with Tetra Tech and others on the first objective.

CITES Elephant Trade Information System (ETIS)

Funded by the European Commission via UNEP

This funding serves to sustain the operational capacity and integrity of ETIS by supporting core fundamentals of data collection, verification and management of the seizure data by the database manager. It also maintains an online ETIS website in three languages for the benefit of the CITES parties. Finally it supports the production of analytical results from the ETIS data. This is instrumental in guiding decision making at CITES meetings.

Saving Threatened Wildlife , Vietnam

Funded by USAID via WWF US

Supports Vietnam to tackle illegal wildlife trafficking. This project focuses on protecting species that are at risk of being trafficked into Vietnam, such as African rhinos, African and Asian elephants, and pangolins, as well as animals that are regularly poached and traded domestically or internationally, such as primates, muntjacs, and big cats.

Forest and Biodiversity Support Activity (FABS)

Funded by USAID via Tetra Tech

FABS assists environmental actors in the Congo Basin to implement strategies and actions that address the large-scale threats to biodiversity conservation and forest management. FABS pursues policy reforms and institutional strengthening objectives related to conservation and forest management while also training and providing tools to government agencies and local organizations to shape issues at a national and regional scale in Central Africa.

Demand reduction and behaviour change along China’s parrot supply chains

Funded by Defra IWT Challenge Fund

This project aims to reduce threats to African Grey Parrots (AGP) and other endangered African parrots in Cameroon and the Democratic Republic of the Congo (DRC), and tackle high demand in China. Activities integrate innovative social and behaviour change (SBC) approaches to reduce Chinese consumer demand for these parrots as pets, with corporate engagement and behaviour change targeting Chinese nationals in Cameroon and DRC who are potentially involved in the poaching and trafficking of the target parrots.

59 CHARITY COMMISSION REPORT FY24

Notes to the Accounts: year ended 30 June 2024

Analysis of charitable funds for the year ended 30 June 2023:

Unrestricted funds Restricted funds Major projects:	1 July 2022 Income Expenditure Transfers 30 June 2023 £ £ £ £ £ 2,321,819 1,109,145 (1,151,478) 85,259 2,364,745
Postcode Lottery TRACE	191,141 300,405 (329,807) - 161,739
Targeting Natural Resources Corruption	(110,222) 401,199 (265,998) - 24,979
CONNECT	(78,048) 539,610 (240,905) - 220,657
Countering Wildlife Trafficking in Angola	135,269 381,294 (312,980) - 203,583
Removing the Risk of Wildlife Smuggling from Malaysia's International Mail Service	57,589 98,968 (102,156) - 54,401
WTRAPS	611,522 375,804 (614,108) (17,182) 356,036
Reducing Trade Threats to Wild Species and Ecosystems in Africa	63,185 535,416 (421,232) - 177,369
Law Enforcement in Madagascar: A United Response to Combating Wildlife Crime	317,490 390,143 (250,463) 457,170
Strengthening Law Enforcement Capacity and Collaboration to Combat the Illegal Wildlife Trade in Cameroon	137,829 94,667 (202,108) 4,927 35,315
OES Crime Convergence Indonesia	111,553 461,168 (597,902) - (25,181)
Leveraging legality along China’s timber supply to reduce deforestation	534,892 890,742 (866,138) 559,496
Institutionalise cascaded transboundary, interagency joint law enforcement governance in the Kavango Zambezi (KAZA)	68,228 83,678 (127,325) - 24,581
Reducing Maritime Trafficking	79,369 107,409 (245,398) - (58,620)
Pelargonium sidoides Biodiversity Management Plan	215,997 162,150 (162,923) - 215,224
RTI Tuhifadhi Maliasili	98,964 83,501 (313,552) - (131,087)
Himalayan Plants for People Strengthening Wildlife Law Enforcement Money laundering and the illegal wildlife trade in China CWT in sub-Saharan Africa Anti-Corruption and Combatting Wildlife Trafficking Activity - Madagascar Demand reduction, Enforcement and policies supporting the conservation of Elephants and Rhinos SA Wildlife Investigator Mentoring Scheme Other projects Total funds	(58,221) 153,605 (87,130) - 8,254 172,316 445,248 (420,911) - 196,653 74,866 199,108 (132,186) - 141,788 (24,944) 217,263 (214,845) - (22,526) 112,743 211,172 (168,020) - 155,895 26,464 645,707 (476,569) - 195,602 21,850 407,176 (313,099) - 115,927
	2,759,832 7,185,433 (6,865,755) (12,255) 3,067,255 836,692 3,771,804 (4,945,172) (73,004) (409,680)
	3,596,524 10,957,237 (11,810,927) (85,259) 2,657,575
	4,917,192 11,361,214 (10,360,063) - 5,918,343

50

CHARITY COMMISSION REPORT FY24 60

16 . Allocation of net assets between funds

Group Fixed assets Current assets Current liabilities Total funds Charity Fixed assets Current assets Current liabilities Total funds 2023 Comparative Group Fixed assets Current assets Current liabilities Total funds 2023 Comparative Charity Fixed assets Current assets Current liabilities		Restricted funds Unrestricted funds 2024 Total £ £ £ 72,360 0 72,360 2,626,936 4,624,777 7,251,713 (566,388) (2,935,313) (3,501,701)
		2,132,908 1,689,464 3,822,372
		Restricted funds Unrestricted funds 2024 Total £ £ £ 60,211 60,211 2,223,502 4,694,656 6,918,158 (482,487) (2,841,412) (3,323,899)
		1,801,226 1,853,244 3,654,470
		Restricted funds Unrestricted funds 2023 Total £ £ £ - 42,160 42,160 6,221,740 2,843,495 9,065,235 (3,564,165) (520,910) (4,085,075)
		2,657,575 2,364,745 5,022,320
		Restricted funds Unrestricted funds 2023 Total £ £ £ - 39,070 39,070 5,865,004 2,407,317 8,272,321 (3,028,060) (426,457) (3,454,517)

61 CHARITY COMMISSION REPORT FY24

17. Operating leases

At 30 June 2024 the Charity had total commitments under non-cancellable operating leases as set out below:

Payment due: Within one year Within two to five years	Group Charity Group Charity 2024 2024 2023 2023 £ £ £ £ Land & Buildings Land & Buildings Land & Buildings Land & Buildings 118,674 70,942 122,329 61,661 27,767 17,839 137,413 54,840
	146,441 88,781 259,742 116,501

18 . Related party transactions

The following transactions took place between the TRAFFIC International and its wholly owned subsidiaries - TRAFFIC International Southeast Asia, TRAFFIC International Tanzania and TRAFFIC International Europe:

• Transfer of project income of £1,862,615 (2023: £2,098,388) and core income of £147,147 (2023: £190,673) from the parent undertaking to the subsidiary.

• Service support charges of £88,620 (2023: ££88,620) were made by the parent undertaking to the subsidiary.

• Grants of £nil (2023: £nil) were transferred from the subsidiary to the parent undertaking.

• At the year end, the parent undertaking owed £48,056 (2023: £48,056) to the subsidiary undertakings.

There were no other related party transactions in the current or previous year.

19 . Taxation

The Charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.

52

CHARITY COMMISSION REPORT FY24 62

20 . Comparative Statement of Financial Activities (Year ended 30 June 2023)

Notes Income from: Donations Charitable activities Investments Other Total 5 Expenditure on: Raising funds – grant and contract proposal development Charitable activities Red stream Green stream Mixed Total charitable activity expenditure Total 6 Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted Funds Restricted Funds 2023 Total £ £ £ 1,034,262 - 1,034,262 51,068 10,908,328 10,959,396 - 103 103 23,815 - 23,815 - 48,806 48,806
	1,109,145 10,957,237 12,066,382
	246,766 - 246,766 633,044 8,230,174 8,863,218 141,281 1,836,792 1,978,073 130,387 1,743,961 1,874,348
	904,712 11,810,927 12,715,639
	1,151,478 11,810,927 12,962,405
	(42,333) (853,690) (896,023) 85,259 (85,259) -
	42,926 (938,949) (896,023)
	2,321,819 3,596,524 5,918,343
	2,364,745 2,657,575 5,022,320

63 CHARITY COMMISSION REPORT FY24

Non-adjusting post balance sheet event

Following US President Trump’s Executive Order on 20 January 2025 and US Secretary of State Rubio’s Memo of 24 January 2025, TRAFFIC received on 25 January 2025 a series of “Notice of Suspension” from the US Government notifying the organisation that their funding had been immediately suspended and ordering TRAFFIC to stop work on all of their projects. These actions have significant implications for TRAFFIC and its project portfolio. Senior management and

the Trustees are in the process of assessing various scenarios regarding US government funding and the appropriate responses. Due to the level of uncertainty with these actions, management is unable to reliably estimate the impact, if any, on these financial statements. However, TRAFFIC has done sufficient analysis to confirm that it can remain a going concern whatever the outcome regarding US government funding.

CHARITY COMMISSION REPORT FY24 64

W O R K I N G T O E N S U R E T O E N S U R E T H A T T R A D E I N W I L D S P E C I E S I S L E G A L A N D S U S T A I N A B L E , F O R T H E B E N E F I T O F T H E P L A N E T A N D P E O P L E

TRAFFIC [phone] [e-mail] traffic.org