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2023-12-31-accounts

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2023 IN REVIEW

TRUSTEES’ REPORT, STRATEGIC REVIEW & FINANCIAL STATEMENTS

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SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

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CONTENTS

CONTENTS
Refections from the Chair of the Board 3
Letter from the CEO 4
OVERVIEW 6
Who We Are 6
Where we Work 7
The World in 2023 8
OUR 2022–2024 GLOBAL STRATEGY 9
Our 2030 Ambition 10
Our strategy at a glance 11
Our Global Snapshot for the movement 2023 12
OUR RESULTS AND IMPACT 13
STRATEGY PROGRESS IN 2023 – OVERVIEW 14
Healthy Start in LIfe 16
Progress towards the global goal 17
Safe Back to School and Learning 19
Progress towards the global goal 20
Live Free From Violence 22
Progress towards the global goal 23
Safety Nets and Resilient Families 27
Progress towards the global goal 28
Focus on Our Humanitarian Work 30
Upholding Children’s Rights 35
The Climate and Children’s Rights 37
Our Strategic Enablers 44
Our People 46
Financial Performance 49
Trustees’ Risk Statement 53
Child and Community Safeguarding 58
Counter Fraud 60
Looking Ahead 62
Structure, governance, and management 63
Administrative Details 68
FINANCIAL STATEMENTS 74

SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW AND FINANCIAL STATEMENTS FOR 2023

The Save the Children International Board of trustees (herein referred to as the ‘Trustees’) are pleased to present their annual report, strategic review and the audited consolidated financial statements of Save the Children International and its trading subsidiaries for the year ended 31 December 2023.

This page: Fabeha Monir/Save The Children Munni, 18, and her sister Tanni, 12, laugh by Munni’s fish pond at their home in Bangladesh.

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REFLECTIONS FROM THE CHAIR OF THE BOARD 3

REFLECTIONS FROM THE CHAIR OF THE BOARD

In today’s turbulent world, children face increasingly complex challenges.

Last year, we made significant progress against our global strategy, reaching over 105 million children in 94 countries. Our emergency response work supported over 31 million people including 16 million children, across 78 countries. Our advocacy efforts have led to significant policy changes by governments worldwide.

As we reach the final year of our current strategy, we recognise the need to further adapt to our evolving world. It is imperative to ensure we are strategically positioned to achieve our ambitious vision for children by 2030. By working collaboratively with our local and national partners, and through ongoing engagement with our donors and supporters, we remain steadfast in leveraging our knowledge and expertise to develop innovative and impactful solutions for children.

The Board and I would like to take this opportunity to extend our heartfelt appreciation to Dona Young, whose tenure on the Save the Children International & Save the Children Association Global Board concluded in 2023, and a warm welcome to Anne Gates and Richard Winter, who have recently joined us.

To our Board members and teams worldwide involved in our historic mission, we thank you for your unwavering dedication and compassion. The life-altering programmes you continue to tirelessly deliver for children are needed now more than ever in recent history.

Thank you,

Angela Ahrendts DBE Chair of the Board of Trustees

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LETTER FROM THE CEO

In 2023, children worldwide faced countless challenges, crises, and threats to their rights. They are intersecting and compounding one another, leading to a polycrisis with cascading effects across social, economic, and environmental systems.

Conflicts are proliferating and intensifying at the same time as disaster risks are increasing. From ongoing conflicts and insecurity to horrific new conflicts, and emergencies triggered by the severe climate crisis, the situation for children in humanitarian emergencies in 2023 was dire and unacceptable.

This Trustees’ Strategic Report sets out the progress and challenges we experienced in 2023 in our work to respond to those threats and champion children’s rights worldwide.

We are doing our utmost to respond in a situation with erosion of children’s rights worldwide, declining institutional and social trust, widespread polarisation and fragility, as well as growing inequality. In times of crisis, we are always among the first organisations to deliver life-saving support for children and their families. In 2023, we had to dramatically increase our humanitarian work as detailed in our Humanitarian Plan 2023. We partnered with local organisations to ensure our responses were locally driven, allowing us to build trust and gain access to hard-to-reach communities. We stood side by side with children in the world’s toughest places.

As a global Movement, Save the Children International and our 30 members all working together, we were able to mount rapid, extensive, and impactful responses to crises such as the continued war in Ukraine and the earthquakes in Türkiye and Syria. The success of our internally managed Global Humanitarian Fund, which ensures that Save the Children country offices and local and national actors have the resources to rapidly respond to escalating humanitarian needs, underscores the importance of the trust and collaboration within our movement.

Conflicts, hunger, climate-related disasters, poverty, and inequality are on the rise at an alarming pace. We worked extremely hard last year to rise to these challenges and I feel an overwhelming sense of pride in the difference we are making. But the work is not without challenges as children’s lives, safety, well-being, and futures are under attack in an increasingly dangerous and unequal world.

Working together with children, local communities, and our local, national, and international partners, we will continue to amplify our collective impact to create lasting, positive change for children worldwide.

We continued our work to reach and influence government institutions responsible for safeguarding children’s rights. Through our advocacy and campaigning work, we contributed to 99 significant policy, legislative, budgetary, and service/ system changes, with children actively involved in at least 43 of these achievements. Notably, our advocacy efforts contributed to the development of NATO’s inaugural policy on protecting children in armed conflict.

We promoted child participation. Children’s voices shape our priorities, and we provided platforms for their advocacy. We’ve seen inspiring examples of children and youth engaging in key events like the UN General Assembly and COP28. Our Global Children’s Advisory Board provided valuable insights on issues such as the climate crisis and inequality. Through Generation Hope, our global campaign for and with children, we supported more than 14,200 children to call for urgent action on the issues that matter most to them.

Inger Ashing CEO, Save the Children International

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LETTER FROM THE CEO 5

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Yaira, 11, wearing ‘Panchito’,
the huggable backpack, Peru.
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Sandra, Health Specialist, with baby Priscilla and her mother, Evelyn, in the high dependency unit, Uganda.

OVERVIEW

WHO WE ARE

SAVE THE CHILDREN IS THE WORLD’S LARGEST INDEPENDENT CHILDREN’S RIGHTS ORGANISATION. WE’VE PROTECTED CHILDREN’S RIGHTS FOR MORE THAN 100 YEARS. TODAY, WE’RE PROUDLY WORKING WITH CHILDREN, THEIR COMMUNITIES, AND OUR PARTNERS WORLDWIDE, DISCOVERING NEW SOLUTIONS AND CREATING LASTING CHANGE, TOGETHER.

The Save the Children Association is a global movement made up of Save the Children International and 30 member organisations (including three associate members working towards full member status in 2023*) around the world. All these member organisations engage supporters and donors in their national context and deliver programmes and advocacy work to help children in their countries.

*The Philippines became a full member in 2024.

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WHERE WE WORK 7

•[ MEMBERS ] •[INTERNATIONAL PROGRAMMES ][ADVOCACY OFFICES ] REGIONAL OFFICES

WHERE WE WORK

As a global movement, Save the Children Association operated in 115 countries in 2023. Save the Children International delivers international programmes and humanitarian responses and coordinates campaigns and advocacy for the movement. In 2023, Save the Children International was made up of 55 country offices, five regional offices, two humanitarian response offices, three advocacy offices, 11 partner-led programmes and a global team working on behalf of the whole movement. In some countries, we have more than one office type.

Save the Children International is responsible for implementing around 70% of the whole movement’s total expenditure on programming and advocacy work around the world, with the further 30% implemented through Save the Children Association member organisations.

This report largely covers the work and results of Save the Children International. However, when reporting progress towards the targets of our global 2022–2024 strategy, we have included examples of the programming and advocacy work of the whole movement.

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THE WORLD IN 2023

In 2023, millions of children suffered the consequences of floods, storms and droughts linked to climate change, struggled to access essential services amidst violent conflict, or continued to feel the socio-economic impacts of the COVID-19 pandemic.

2023 saw an unprecedented number of crises with conflicts impacting children in many countries including Israel and the occupied Palestinian territory, Ukraine, Myanmar, Haiti, Sudan, and the Democratic Republic of the Congo. Major humanitarian emergencies caused or exacerbated by the climate crisis disrupted the lives of children in countries including Türkiye, Syria, Morocco, and Libya.

Children, who bear minimal responsibility for these crises, are disproportionately suffering from their consequences.

There are an estimated 2.4 billion children around the world. Of these:

In a rapidly changing global context, our movement-wide strategy aims to respond to and anticipate these threats and the erosion of children’s rights. We work in partnership to build resilient, equitable, and fully financed systems to support children and communities, and identify new solutions, for and with children.

  1. https://www.unicef.org/social-policy/child-poverty

  2. https://www.unicef.org/press-releases/global-child-deaths-reachhistoric- low-2022-un-report

  3. https://www.who.int/news-room/fact-sheets/detail/malnutrition/

  4. https://www.cdc.gov/violenceprevention/childabuseandneglect/ vacs/onebillion-children.html

Said, 4 and Samuel, 3, practice balancing on one leg, outside an early years centre, Bolivia.

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OUR 2022–2024 GLOBAL STRATEGY 9

OUR 2022–2024 GLOBAL STRATEGY

OUR WHOLE MOVEMENT – SAVE THE CHILDREN INTERNATIONAL AND SAVE THE CHILDREN MEMBER ORGANISATIONS – IS WORKING TOGETHER TO ACHIEVE OUR 2022–2024 GLOBAL STRATEGY.

IT IS GROUNDED IN OUR 2030 AMBITION, VISION, MISSION, VALUES, AND THEORY OF CHANGE AND GUIDED BY OUR 2030 AMBITION.

OUR VISION is a world in which every child attains the right to survival, protection, development, and participation.

OUR MISSION is to inspire breakthroughs in the way the world treats children and to achieve immediate and lasting change in their lives.

OUR VALUES are Creativity, Accountability, Integrity, Collaboration, and Ambition.

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OUR 2030 AMBITION

TO SAFEGUARD CHILDREN’S FUTURES AND CREATE LASTING, POSITIVE CHANGE, WE’RE PUSHING FOR ALL COUNTRIES TO MAKE THESE THREE KEY BREAKTHROUGHS FOR CHILDREN BY 2030.

SURVIVE: No child dies from preventable causes before their fifth birthday.

LEARN: All children learn from a quality basic education.

BE PROTECTED: Violence against children is no longer tolerated.

OUR THEORY OF CHANGE

WE FOCUS ON DRIVING CHANGE FOR CHILDREN MOST IMPACTED BY INEQUALITY AND DISCRIMINATION.

BE THE INNOVATOR

Develop and prove evidence-based replicable breakthrough solutions to problems facing children.

BUILD PARTNERSHIPS

Collaborate with children, civil society organisations, communities, governments and the private sector to share knowledge, influence others and build capacity to ensure children’s rights are met.

BE THE VOICE

ACHIEVE RESULTS AT SCALE

Support effective implementation Advocate and campaign for better of best practices, programmes and practices and policies to fulfil policies for children, leveraging our children’s rights and to ensure knowledge to ensure sustainable children’s voices are heard. impact at scale.

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OUR GLOBAL 2022–2024 GLOBAL STRATEGY 11

OUR STRATEGY AT A GLANCE

We drive impact by focusing on four strategic goals and we use six enablers to strengthen and accelerate our progress towards those goals. All our goals work together to empower children and make their rights a reality in climate-smart ways.

Our strategy is relevant in every country and every context we work in, from low-income to high-income countries, and those dealing with humanitarian emergencies. In every country we work in, we also have a context-specific strategy that is aligned to our global strategy.

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A CHANGING GLOBAL CONTEXT
4 STRATEGIC GOALS
OUR IMPACT FOR AND WITH CHILDREN
HEALTHY SAFE BACK LIVE FREE SAFETY NETS &
START IN LIFE TO SCHOOL FROM VIOLENCE RESILIENT FAMILIES
& LEARNING
6 ENABLERS
HOW WE ACCELERATE THAT IMPACT
ADVOCATE, DIGITAL STRATEGIC SHIFT POWER AGILE & GROW &
CAMPAIGN & DATA PARTNERSHIPS INCLUSIVE OPTIMISE
& MOBILISE ORGANISATION RESOURCES
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OUR GLOBAL SNAPSHOT FOR THE MOVEMENT 2023

105.4M CHILDREN REACHED DIRECTLY & INDIRECTLY

26,134 STAFF

WORKED IN 115 COUNTRIES

$2.7B TOTAL INCOME

POLICY 99CHANGES

EMERGENCIES 121 RESPONDED TO

33.7M CHILDREN REACHED THROUGH HEALTH AND NUTRITION PROGRAMMING

8.5M 3.8M 3.3M CHILDREN REACHED CHILDREN REACHED CHILDREN REACHED THROUGH EDUCATION THROUGH CHILD LIVING IN POVERTY PROGRAMMING PROTECTION PROGRAMMING

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OUR RESULTS AND IMPACT 13

I want to become a nurse when I grow up. Nursing is a noble profession which can help me serve people in need of medical treatment.” Pratiksha, 11, Nepal.

OUR RESULTS AND IMPACT

THE IMPACT THAT WE SEEK

We are committed to creating changes for children, achieved in partnership, that realise children’s rights at scale, improve equality, and support children’s power.

We always strive to effect changes for children that are lasting and not reliant on our ongoing involvement. And we recognise that what is more important than our reach or activities is what happens to children as a result of our work – the true impact of our work. We continue to improve how we track, understand, and learn from what is working to achieve impact for children.

HOW WE TRACK PROGRESS TOWARDS OUR STRATEGIC GOALS

We have four global strategic goals and we also track progress towards better social accountability, public investment in children, and child rights reporting around the world.

We monitor our strategic performance by measuring how well we are meeting our global goal outcomes and our global goal indicators:

EVOLVING OUR REPORTING

For our 2023 reporting, we have revised our outcome-level targets to exclude the numbers of children reached indirectly, such as through mass communication work like information campaigns on vaccinations and personal safety. While this type of communication work remains important, the indirect reach figures can change substantially from year to year based on a handful of projects, so measurements can be unhelpful when interpreting our strategic performance (for example, this type of work spiked during the COVID-19 pandemic). We believe it is more meaningful to instead focus on the children reached by our direct work and through the service providers we supported, alongside our existing indicators on the number of institutions we have influenced to increase their accountability for children’s rights.

More broadly, when it comes to understanding outcomes, we see the need to shift away from measuring outputs, like reach and deliverables, to using measures that will more consistently assess long-term changes in children’s lives. We are in the process of building the systems and capacity to help us make this shift in our next strategic period (2025-27). Our reporting from 2025 onwards will reflect these new measures.

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STRATEGY PROGRESS IN 2023 – OVERVIEW

2023 was another very strong year for Save the Children in a challenging context.

There are various specific factors affecting progress towards our outcome (reach-based) targets and these are set out below in sections addressing each global goal. However, common factors across all goals are that:

Our global goal indicators reflect selected key areas of work rather than a comprehensive coverage of all we do (see Our Results and Impact), so performance against these does not precisely mirror outcome-level performance. In 2023, we saw more positive results at the global goal indicator level than is reflected in outcomes relating to reach. This is mainly because the indicators we track capture more of the qualitative aspects of our work, where we have generally performed well, rather than the quantitative areas where we have not fully achieved the scale we aimed for.

Olga Shults, Save the Children’s programme manager, supports a girl with learning and play at a Child Friendly Space in Ukraine.

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OUR RESULTS AND IMPACT 15

Wassan, 9, holding her baby sibling in the land that her family used to cultivate before the drought in Iraq.

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HEALTHY START IN LIFE

A healthy world for all children is possible. Working with governments and our partners, we want to build solid, sustainable health systems and services that guarantee every child a good start in life, alongside their families and communities.

We have set ourselves the following targets to achieve as a global movement by 2024:

  1. Essential health services: Annually, by 2024, at least 22.5 million children and women have increased vaccination coverage, skilled birth attendance, and use of modern contraceptive methods. We will focus on closing equity gaps.

  2. Child nutrition: Annually, by 2024, at least 17.2 million children in 50+ countries receive support to prevent and treat under nutrition.

  3. Accountable institutions: Over three years, 40 governments and global actors make policy, legal, system, or public investment changes to meet children’s right to health and nutrition.

Global Goal Outcome Results

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Outcome 2022 Results 2023 Results 2024 Target
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Outcome 2022 Results 2023 Results 2024 Target
Essential Health Services 15.5* million 12.7 million 22.5 million annually
Child Nutrition 16.0 million 15.4 million 17.2 million annually
Accountable institutions 10 15 40 over 3 years

*Save the Children’s total direct reach used as a proxy for actual progress towards our targets on essential service delivery.

*Figures have been rounded to the nearest 0.1 million

Progress towards Global Goal targets: Healthy Start in Life

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40 40
35 40
30 30
25
20 22.5 20
15
15.5 16 15.4 17.2 15 2022 Results
10 12.7 10
5 10 2023 Results
0 0 2024 Target
Essential health Child nutrition Accountable
services institutions
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OUR RESULTS AND IMPACT 17

PROGRESS TOWARDS THE GLOBAL GOAL

Overall progress towards our Healthy Start in Life goal is strong. We have seen gains in our work to ensure institutions are accountable for children’s rights and we have seen significant financial commitments to our global health work. We are on target to meet most of our other measures of progress, our global indicators, for 2024 and, in some cases, we have surpassed our target already. For example:

In humanitarian contexts:

Our progress against our essential health services target fell slightly from 2022. This was due to the planned conclusion in early 2023 of our MaMoni project. This was a large, and very successful, ten-year maternal health project in Bangladesh, which reached more than four million women. We will adapt our 2024 target to reflect the end of the MaMoni project. Progress against our target for nutrition fell slightly.

7-month-old Priscilla with her mother, Evelyn, smiles and looks healthier after recovering from severe pneumonia, Uganda.

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Esther Ruth Mbabazi / Save the Children
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Our work on child nutrition last year saw us work with young infants and their mothers in Yemen, Syria, Somalia, Mozambique, Kenya, Nigeria, and Colombia.

Last year, we worked in Yemen, Syria, Somalia, Mozambique, Kenya, Nigeria, and Colombia with partners including the Latter-day Saint Charities, MAC Foundation, UNICEF, and UNHCR to improve the growth and promote proper nutrition and care for vulnerable infants aged under six months.

The Global MAMI (management of acute malnutrition in small and nutritionally at-risk infants under six months and their mothers) project launched in February 2023 to provide nutritional supplementation and mental health support close to the homes of underserved populations.

The project is the latest in a series of MAMI projects we have undertaken since 2016 in numerous countries including Afghanistan, Myanmar, and Bangladesh.

The latest project is making a significant impact in improving growth, preventing and managing wasting, and saving the lives of nutritionally vulnerable newborns and infants living in hard-to-reach communities.

Our teams have developed a screening and referral tool for low literacy audiences to reduce infant deaths and improve the community’s capacity to identify danger signs. We have also introduced mental health and psychosocial support training material for front line health workers.

By January 2024, the project with a budget of $5.3 million had:

The team expects to reach another 49,000 mother-infant pairs in the second year of the programme (2024–25) with a budget of USD $8 million.

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Mustafa Saeed / Save the Children
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Jamila at a stabilisation centre in Somalia with her daughter, Kamila*, who was suffering from malnutrition.

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OUR RESULTS AND IMPACT 19

SAFE BACK TO SCHOOL AND LEARNING

Education has amazing power to protect children from harm and help them grow into healthy adults. By improving and investing in schools, training teachers to nurture pupils’ basic skills and wellbeing, and getting all children learning at their level within supportive communities, we can close the global learning gap and transform millions of futures.

We have set ourselves the following targets to achieve as a global movement by 2024:

  1. Access to quality learning: Annually, by 2024, at least 17.6 million children globally enrol and consistently attend safe, inclusive, and quality learning, including early childhood development. We will focus on closing equity gaps.

  2. Wellbeing and learning: Annually, by 2024, at least 14.1 million children accelerate learning towards age and grade appropriate levels.

  3. Accountable institutions: Over three years, 30 governments and global actors make policy, legal, system or public investment changes to meet children’s right to education and development.

Global Goal Outcome Results

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Outcome 2022 Results 2023 Results 2024 Target
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Outcome 2022 Results 2023 Results 2024 Target
Access to quality learning 9.2* million 8.5 million 17.6 million annually
Wellbeing and learning 7.3 million 6.8 million 14.1 million annually
Accountable institutions 18 25 30 over 3 years

*Save the Children’s total direct reach used as a proxy for actual progress towards our targets on essential service delivery.

*Figures have been rounded to the nearest 0.1 million

Progress towards Global Goal targets: Safe Back to School and Learning

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30
30
25
25
20 20
18
17.6
15 15
14.1
10 10
9.2 2022 Results
8.5
5 7.3 6.8 5 2023 Results
0 0 2024 Target
Access to quality Wellbeing and Accountable
learning learning institutions
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PROGRESS TOWARDS THE GLOBAL GOAL

Progress towards our Safe Back to School influencing work is on track to meet our 2024 target. The performance of this work to ensure institutions are accountable for children’s rights is encouraging. For example:

In our work to ensure children can access quality learning, and to support their wellbeing, the number of children we reached declined compared to 2022.

Our funding for the goal fell below the target for 2023, which impacted our ability to reach our targets.

Two very large education projects we ran in Ethiopia and the Democratic Republic of the Congo during the COVID-19 pandemic in 2020 and 2021, reaching around 3.5 million children, were factored into our targets. However, funding for these projects was not sustained beyond 2021.

In 2023, successes included:

humanitarian crises in countries such as Mali which caused us to increase the numbers of teachers we supported.

In our work to support children’s wellbeing and learning last year, we refined and strengthened our ‘Tips by Text’ programme in the Philippines following an initial trial.

We launched our ‘Bounce Back Award’ in 2023 to encourage Save the Children entities to critically evaluate their projects, explore the reasons for any failures and bounce back with innovative solutions.

The Bounce Back Award offered a $50,000 USD prize to the office that could identify and create a plan to address a failure in a project. The award was designed to foster innovation, encourage problem solving, and create a culture of learning from setbacks. We are planning to expand further on this in 2024.

The 2023 winner was ‘Tips by Text’ in the Philippines. This evidence-based parenting intervention was originally developed and implemented by Stanford University in the United States and involved positive parenting messages sent by text. However, the results of a randomised

40-week trial in the Philippines found no difference in children’s learning and development.

The team discovered that they had tried to do too much. They had diluted the project’s impact by adding texts on COVID-19 prevention alongside positive parenting messages. They had also failed to establish the texts as being from a trustworthy source. Enrolling parents automatically had led some to believe the messages were a scam.

Prior to a re-launch of the programme, the team are re-assessing the message content with local stakeholders and working to proactively identify and enrol parents. They then intend to carry out further small-scale tests before conducting another randomised trial.

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OUR RESULTS AND IMPACT 21

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A temporary school set up by Save the
Children in a settlement in Yatenga
province, Burkina Faso.
Adrien Bitibaly / Save the Children
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Our work last year to ensure children have access to quality learning opportunities saw us renew our successful RIRE programme to help children in emergencies return safely to learning in Mali, Niger, and Burkina Faso.

Our Rapid Integrated Response for Children or Réponse Intégrée Rapide pour les Enfants (RIRE) programme in Mali, Niger, and Burkina Faso helps children aged between four and 12 to safely return to learning within the first three months of a crisis.

RIRE involves training community facilitators to use play-based educational activities to improve children’s socio-emotional learning and foundational skills. Community-based child protection teams are trained to address the child protection needs of children and households. Mobile teams give psychological first aid to children and caregivers and provide referrals for children in need of more specialised mental health and psychosocial support.

RIRE is part of our Pilot Programmatic Partnership (PPP) with the European Civil Protection and Humanitarian Aid Operations (ECHO), which aims to improve the protective environment, wellbeing, and learning of displaced children and their host communities.

Our evaluation found that in a volatile context of expanding crisis, RIRE made it possible to reach significantly larger numbers of children than initially planned for, with a response-time of usually no more than three to seven days.

The programme reached the end of its first three-year phase in 2023 and has been renewed for another three years.

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LIVE FREE FROM VIOLENCE

By pushing for strong local and national child protection systems, backed up by solid government investment, we can protect children’s right to live free from violence.

We have set ourselves the following targets to achieve as a global movement by 2024:

  1. Child protection services: Annually, by 2024, at least 3.6 million children affected by conflict and gender-based violence, including child marriage, access inclusive and gender sensitive child protection and mental health and psychosocial support services (MHPSS).

  2. Accountability for grave violations: Over three years, 10 countries see state and non-state actors held to account for grave and other serious violations of child rights in conflict and crisis.

  3. Accountable institutions: Over three years, 25 governments and global actors make policy, legal, system or public investment changes to ensure children’s right to protection from violence.

Global Goal Outcome Results Global Goal Outcome Results Global Goal Outcome Results
Outcome 2022 Results 2023 Results 2024 Target
Access to child protection services 3.2* million 2.7 million 3.6 million annually
Accountability for grave violations 4 countries 7 countries 10 countries
over 3 years
Accountable institutions 19 25 25 over 3 years

*Save the Children’s total direct reach used as a proxy for actual progress towards our targets on essential service delivery.

*Figures have been rounded to the nearest 0.1 million

Progress towards Global Goal targets: Live Free from Violence

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30
TARGET ACHIEVED
10 25
10 25
4 8 20
19
3 3.6 6 7 15
3.2
2.7
2 4 10
4 2022 Results
1 2 5
2023 Results
0 0 0 2024 Target
Access to child Accountability for Accountable
protection services grave violations institutions
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OUR RESULTS AND IMPACT 23

PROGRESS TOWARDS THE GLOBAL GOAL

Our performance last year against our targets for our Live Free from Violence goal was the strongest of all our goals. During the year, we achieved our 2024 target in relation to our work to ensure institutions are accountable for children’s rights.

On our work to ensure children have access to child protection services, our reach declined slightly between 2022 and 2023. This was due to the conclusion of some large projects.

Further significant achievements in 2023 include:

We put the protection of children at the heart of all our humanitarian interventions, safeguarding them against violence, neglect, exploitation, and abuse, and making sure the most vulnerable children receive tailored support and their rights are protected.

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Our work to reunite families in South Sudan reached a significant milestone last year.

2023 saw us reach a milestone in our family reunification work in South Sudan, with more than 7,000 displaced children now reunited with their families.

One of these is Simon*, 13, who lived with his family in Khartoum before fighting broke out in Sudan in April 2023. Simon escaped with others fleeing the conflict, but without his parents or family members. He travelled alone for three months before arriving at the Joda border point between Sudan and South Sudan where he was identified by the International Organisation for Migration (IOM) as an unaccompanied minor. IOM referred him to our South Sudan Save the Children team who worked with our partners to find his relatives. The team provide

child protection services, reunification, referrals, and community-based gender-sensitive preventive and responsive interventions.

Simon is now living with his family in Juba. He says: “Save the Children gave me hope, hospitality and they honoured me. I thanked them from the bottom of my heart”.

His brother, Samuel* says: “I thank the organisations who help children in the world... By now, Simon might have been killed, shot, and kidnap or even die of hunger if it wasn’t Save the Children’s intervention.”

*Simon and Samuel are pseudonyms to protect the brothers’ identities.

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Cicilia Ade Hillary/ Save the Children
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Simon* is now home with his family in Juba after spending more than three months traveling alone and thinking about his family members.

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OUR RESULTS AND IMPACT 25

Iman plays with her children Hassan, 4, and Hoor on the rooftop of their home in Egypt.

As part of our child protection work last year, we reviewed our Safe Families programming and found it is effective in reducing physical and humiliating punishments.

A review of our Safe Families approach (previously known as Parenting without Violence) last year found that it was successful in reducing physical and humiliating punishment in the home – the most common form of violence against children around the world.

We have implemented Safe Families in over 40 countries including Bolivia, Colombia, China, Mali, Egypt, Kenya, Nigeria, Syria, Yemen, Somalia, and Papua New Guinea.

The programme involves work with children of all ages, caregivers, and communities to support families to better communicate and solve problems together.

Our approach has four components:

Our 2023 review looked at findings from the monitoring and evaluations of projects in 14 countries that implemented Safe Families to assess the effectiveness of the approach.

The review found a reduction in physical punishment and/ or psychological aggression by caregivers following their participation in the programme. Caregivers’ belief in the necessity of physical and humiliating punishment to raise children was reduced, with an average of 25% of caregivers stating that physical and humiliating punishments were necessary to raise children at the end of a project compared to 53% at the start. They also found more positive caregiver-child relationships with an average of 99% of caregivers reporting more positive relationships at the end of a project compared with 41% at the start.

CAREGIVERS BELIEVING POSITIVE PHYSICAL AND HUMILIATING CAREGIVER-CHILD PUNISHMENTS ARE RELATIONSHIPS: NECESSARY: 53% 41% 25% 99%

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Our work to ensure that policy changes are implemented and resourced and have the intended impact for children saw us evaluate the impact of our advocacy work last year in Nigeria.

We undertook two retrospective impact studies last year to determine the long-term impact of our advocacy work by revisiting past influencing successes and exploring whether the potential impact was achieved.

One of these advocacy wins was our work to ensure Katsina state adopted Nigeria’s 2003 federal Child Rights Act, which made provisions for addressing child rights violations such as child marriage, trafficking, and child labour.

in July 2023. We found that the process to fully realise these changes was slowed by the state not establishing a mechanism to implement the law and by their lack of technical expertise.

The impact study has made several recommendations for future advocacy work.

We also learned the importance of creating a child-friendly version of the translated summary document to promote increased awareness among children themselves.

Following years of campaigning by Save the Children and our partners, the state adopted the law in 2020. We examined the success of the implementation of this

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Children from Nigeria made some
drawings to express their hopes of
life in peace, with no conflict.
Save the Children
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OUR RESULTS AND IMPACT 27

SAFETY NETS AND RESILIENT FAMILIES

Evidence shows that providing families with reliable cash assistance is the single best way to break the cycle of poverty. Stronger social protection systems and livelihoods support can see families through the tough times and help secure a better, climateresilient future for their children.

By 2024 we want to achieve the following as a global movement:

  1. Resilient livelihoods: Annually, by 2024, at least 13.8 million children and their families receive livelihoods support and/ or cash and voucher assistance (CVA).

  2. Climate policies: Over three years, 10 governments implement resourced child-sensitive climate policies.

  3. Accountable institutions: Over three years, 20 governments and global actors make policy, legal, systems or public investment changes to meet children’s right to social protection.

Global Goal Outcome Results Global Goal Outcome Results Global Goal Outcome Results
Outcome 2022 Results 2023 Results 2024 Target
Resilient livelihoods 9.3* million 8.2 million 13.8 million annually
Climate policies 6 8 10 over 3 years
Accountable institutions 5 9 20 over 3 years

*Save the Children’s total direct reach used as a proxy for actual progress towards our targets on essential service delivery.

*Figures have been rounded to the nearest 0.1 million

Progress towards Global Goal targets: Safety Nets and Resilient Families

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16 20
14 20
12 13.8 15
10
8 10 10
9.3
8.2
6 8 9 2022 Results
4 6 5
5 2023 Results
2
0 0 2024 Target
Resilient livelihoods Climate policies Accountable
institutions
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PROGRESS TOWARDS THE GLOBAL GOAL

We made significant progress against our objectives in our Safety Nets and Resilient Families advocacy work, contributing to policy changes related to the climate crisis and social protection and a high number of policy wins at country level. We influenced a larger than expected number of policy changes but within fewer countries than initially targeted. For example:

You can read more about these climate-related successes in the Climate and Children’s Rights section from page 37.

  1. This is mainly attributable to funding challenges, with this goal only achieving approximately 80% of its funding target this year. Despite this, notable achievements in 2023 include:

  2. We provided 8.2 million people with livelihoods support, including supporting 1.2 million children and adults with cash and voucher assistance. This represents 80% of the target we hope to reach annually with cash and voucher assistance by 2024.

  3. We conducted wide-ranging research about the impact of our combined cash and voucher assistance plus child protection programmes, looking at a diverse range of humanitarian contexts including children associated with armed forces and armed groups in the DRC, child labour in Egypt, child marriage in the Philippines, and family wellbeing and child labour in Lithuania. The research found that cash plus protection produces better outcomes for children compared to cash alone, including significant reduction in child labour rates, reductions in child stress, improvements in household wellbeing, and increases in perceptions of child safety.

Providing cash to families in humanitarian settings whenever possible remained a priority for us in 2023. We know that in times of crisis, children can be forced to skip meals, they can be pulled out of school and sent to work, pushed into early marriage, or recruited by armed groups. With cash and increased economic resilience, many of these situations can be avoided, ultimately protecting children’s health and nutrition, learning, safety, and well-being.

The number of people we reached directly through our Safety Nets and Resilient Families work decreased by one million, widening the gap against our ambition to reach 13.8 million people by 2024. The number of children and families reached by our cash and livelihoods support fell last year compared to

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OUR RESULTS AND IMPACT 29

Case study: Improving food security in Bangladesh.

Our eight-year Suchana project in Bangladesh came to an end in 2023. The project contributed to improving food security for approximately 250,000 of the most vulnerable households in Bangladesh and reached an estimated 1.4 million people.

The project ran in Sylhet and Moulvibazar, two districts in northeastern Bangladesh with very high levels of chronic child malnutrition and poor infant and maternal health outcomes.

It delivered nutrition and livelihoods interventions, including training and behaviour change approaches for nutrition, support for markets-based nutrition-sensitive livelihoods, and work to empower women and girls.

An external evaluation led by the Institute of Development Studies in 2023 found that ‘Suchana effectively and

sustainably addressed many of the immediate, basic, and underlying drivers of stunting.’ The evaluation also found that food secure households rose from 14% at the start of the project to 31% at the end, the percentage of women receiving minimum dietary diversity rose from 26% at the outset of the project to 51% at the end. The prevalence of stunting among children aged 12 to 23 months fell from 50% at the midpoint of the project to 20% at the end.

Chan Vanu enrolled in the Suchana programme where she learnt different vegetable growing techniques and was given everything she needed to set up her own vegetable garden. Thanks to a combination of her hard work and the Suchana training, she’s now able to feed her family nutritious meals and sell surplus produce to pay for her children’s school fees.

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Every seed that I plant,
“ grows more… I feel very
happy. I like this work
very much. My sons and
”
daughters are also happy.
Chan Vanu
Fabeha Monir/Save the Children
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FOCUS ON OUR HUMANITARIAN WORK

At the beginning of 2023, the number of people around the world estimated to need humanitarian support was a staggering 339 million.

Over the year this increased yet further, as we witnessed horrifying eruptions of violence such as those in Sudan and Gaza which ripped apart millions more children’s lives. The outbreak of fighting in Sudan in April uprooted millions from their homes, leaving the country with the highest number of internally displaced people in the world. In Israel and Gaza, more than 10,000 children were killed in the first 100 days of the war alone. Deadly earthquakes in Türkiye, Syria and Afghanistan also underscored the enduring risk of unpredictable natural disasters, impacting millions of children in some of the most challenging parts of the world.

These are just a few of the many humanitarian crises that threatened children’s lives, rights, and futures across the world last year. From ongoing conflicts and insecurity in

Ukraine, the Democratic Republic of Congo, Myanmar, and Haiti, to new emergencies triggered by the increasingly severe climate crisis and global economic shocks.

By December 2023, some 24 million more people needed support to access food, medical care, shelter, and other humanitarian assistance — bringing the total to an unprecedented 363 million.

Working in partnership with local, national, and international organisations, UN agencies, governments and state authorities, our donors, and supporters, and − above all, with children and their communities − we supported children caught up in crises to survive, stay safe, keep learning, and realise their rights.

Our humanitarian work makes a vital contribution towards our four global goals (see pages 16-29).

Save the Children responded to 121 new and ongoing emergencies in 63 countries in 2023.

Table: Number of crises we responded to in 2023, by region

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Number of Number of
Region Cat 1 Cat 2 Cat 3 Cat 4
Responses countries
Asia 40 13 2 0 2 9
East and Southern Africa 23 14 3 1 3 7
Latin America and Carribean 14 10 0 0 3 7
Middle East, North Africa &
23 14 2 3 3 6
Eastern Europe
West & Central Africa 9 7 1 3 1 2
North America 6 2 0 0 0 2
Oceania 4 3 0 0 0 3
Global 2 N/A N/A N/A N/A N/A
TOTAL 121 63 8 7 12 36
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Table: Types of crises we responded to in 2023

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Number of
Type of crisis Notes
responses
Climate/weather-related events 44 Includes droughts, floods, tropical storms, cold waves, and bushfires.
Conflict 17
Seismic-related events 12 Includes earthquakes (10) and volcanic eruptions (2).
Epidemics 8 Includes outbreaks of dengue, Ebola, and cholera.
Defined as contexts facing multiple crises at once (e.g. prolonged conflict,
Complex Crisis 40
food insecurity, mass displacement, frequent climate crises etc.)
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*Save the Children’s country Humanitarian Categorisation (CHC) framework consists of four categories on a scale from 1 to 4, where a category 1 CHC is designated as ‘extraordinary’ and is the largest and most severe; category 2 is ‘large’; category 3 is ‘medium’; and category 4 is ‘small’. Categorisation is determined by the scale and severity of the humanitarian need, the complexity of the context and its impact on the delivery of humanitarian assistance.

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FOCUS ON OUR HUMANITARIAN WORK 31

EMERGENCY HEALTH UNIT

Save the Children’s Emergency Health Unit (EHU) of doctors, nurses, midwives, water, sanitation and hygiene specialists, and supply-chain specialists travel at a moment’s notice to the heart of a crisis.

Our team of experts has decades of experience and provides children in some of the hardest-to-reach places with the lifesaving physical and mental healthcare they need. In 2023, we deployed the EHU as a team six times to five countries.

This included:

  1. Responding to a cholera outbreak in Malawi, working with the Ministry of Health and the World Health Organisation to provide case management, infection prevention and control and training to local health workers.

  2. Responding to cyclone Freddy in Malawi, providing care and treatment to patients with a variety of injuries including trauma, broken limbs, lacerations, head injuries, and hypothermia.

Fatima, 9, at a Save the Children clinic in Nigeria, where she’s receiving treatment for diphtheria.

  1. Setting up a Therapeutic Feeding Centre in Afghanistan to treat and prevent malnutrition and provide breastfeeding support.

  2. Responding to a cholera outbreak in Burundi, working with the Ministry of Health to provide infection prevention and control, train local health workers, and set up oral rehydration points and community surveillance.

  3. Setting up mobile health clinics in Sudan to provide primary healthcare to conflict-affected and displaced communities and responding to a subsequent cholera outbreak.

  4. Responding to a diphtheria outbreak in Nigeria, supporting the Ministry of Health with a vaccination campaign and providing support to track cases and raise awareness among communities on how to prevent infection and recognise symptoms.

The EHU also deployed 11 staff members to provide support to 12 countries. Overall, the EHU directly reached more than 85,500 people, including more than 24,200 children in 2023. They also trained 705 health personnel and reached more than 345,800 people indirectly.

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Wasiu Ogungbemi / Save the Children
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In our 2023 Humanitarian Plan, released at the start of last year, we planned to reach 30.1 million people, including 17.3 million children across 44 countries, with $1.3 billion of humanitarian funding.

By the end of 2023, we spent more than $756 million and reached 31.4 million people directly, including 16.6 million children across at least 78 countries.

GLOBAL EXPERTISE & HUMANITARIAN SURGE PLATFORM

Our Global Expertise & Humanitarian Surge Platform enables us to be flexible and agile, placing the right expertise where it is needed most as soon as possible. In 2023, we deployed 901 staff members and 263 former staff members to support humanitarian responses across 66 countries. In total, 55% of staff deployed were female and 37% came from a non-OECD country. Overall, we fulfilled 95% of requests for surge support.

SAVE THE CHILDREN’S HUMANITARIAN FUND

Our Humanitarian Fund pools funding from across our movement into a flexible, central fund, so we don’t have to wait for money to be raised before we can reach children when a crisis hits. It also helps us prepare communities in advance and support locally-led humanitarian responses. Allocations from the Humanitarian Fund enable significant flexibility, which allows for adjustments as the impact of an emergency unfolds, multiplies our impact, and enables us to support those in humanitarian crises that aren’t in the headlines.

In 2023, the Humanitarian Fund received $114.7 million. In total, $72.8 million of this was fully flexible and general earmarked funding, and the remaining $41.8 million was earmarked to specific crises, including our responses to the

Türkiye and Syria earthquakes, the conflict in Ukraine and the resulting regional refugee crisis, and the war in Gaza.

We allocated $145.2 million to 69 country offices, regional offices, national offices, and members in 2023.[5] This includes $50.8 million rolled over from 2022 which was earmarked for our Ukraine and refugee crisis response.

Within the first days of the earthquakes hitting northern Syria and Türkiye, we released more than $4 million from the Humanitarian Fund to support our response. The speed with which funds were released, coupled with the strong existing links with our partners on the ground, allowed us to launch our first emergency project within 36 hours of the earthquake in Syria. By the end of the first week, we had channelled funds to seven local and national partners to support rescue efforts, distribute food and relief items, and provide emergency medical assistance.

Flexible funding also helps us leverage additional funding and expand the scope of our programming to reach even more children. At the beginning of 2023, an allocation from the Humanitarian Fund supported lifesaving maternal, infant, and young child nutrition interventions in Colombia, which helped strengthen Save the Children’s expertise and recognition as a trusted provider of health and nutrition services in the country. This, in turn, helped us secure a further $1.2 million to maintain and expand our programming in areas heavily impacted by the influx of refugees from Venezuela. Key donors have committed to continued funding for this programming in 2024.

  1. The total allocation amount is higher than the total 2023 contributions because over $50m of contributions to our Ukraine and regional refugee response was recognised as income in 2022 but spent in 2023.

Arif and the rest of the mental health and psychosocial support (MHPSS) team play with children in the village, Türkiye.

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Humanitarian Income:

2023 FUNDING TARGET $120 M

FUNDING ACTUAL

of which fully flexible of which earmarked to or general earmarked specific crises (excluding funding 2022 Ukraine rollover)

$114.7 M

$72.8 M

% OF 2023 FUNDING TARGET MET*

61%

* Funding target is measured against the amount of fully flexible or general earmarked funding raised in 2023 only, as this is the priority funding type for the Fund.

*Figures have been rounded to the nearest 0.1 million

Humanitarian Allocations:

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Region Number of Recipients Number of Allocations Allocation amount %
Asia 15 67 $12.7 million 9%
ESA 16 70 $20.9 million 14%
LAC 10 38 $7.7 million 5%
MENAEE 16 94 $90.7 million 63%
WCA 11 39 $12.1 million 8%
Global 1 131 $1.1 million 1%
Grand Total 69 439 $145.2 million 100%
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Spend:

TOTAL AMOUNT ALLOCATED TO COUNTRY OFFICES IN 2023 $145.2 M

TOTAL AMOUNT SPENT BY COUNTRY OFFICES IN 2023 $138 M[**]

**78% spend went on humanitarian delivery, 16% spend on humanitarian strategy and design, 6% programme support costs.

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ANTICIPATING CRISES AND BUILDING RESILIENCE

Our humanitarian work also focuses on working with communities to take protective action ahead of a crisis. Through better planning, forecasting, resilience building, and pre-allocated funding, we made sure communities were prepared for anticipated emergencies, so they could limit the impact of disasters on children’s lives and futures.

19% of funds allocated from the Humanitarian Fund went towards anticipatory action and emergency preparedness activities in 2023, with more than $12 million allocated to more than 50 countries. This included funding to help countries prepare for the anticipated impacts of the El Niño climate pattern.

In Somalia, for example, funds were used to strengthen riverbanks and preposition mosquito nets and cholera kits to protect communities at risk of flooding and disease outbreaks following above normal rainfall during the Deyr (second rainy) season. Funding also supported training sessions in schools and communities on emergency preparedness and early warning systems.

CHAMPIONING LOCAL RESPONDERS AND CHILDREN’S VOICES

In Mozambique, part of this funding was used to set up a country-based pooled fund to empower eight local non-government organisations to respond effectively to emergencies and have a greater influence on the direction and implementation of humanitarian action in the country.

We also continued to advocate for increased funding to be directed to local and national organisations across the humanitarian community, through our co-leadership of the Country Based Pooled Funds-NGO Dialogue Platform and our engagement on the Grand Bargain caucus on funding for localisation.

Children’s voices, insights, and lived experiences are critical in determining the support we provide and how we influence change to better protect the rights of children in crises. Last year, we continued to implement inclusive and childfriendly information, feedback, and reporting channels in our responses; to drive ethical, child-led storytelling; and to carry out regular consultations with children. We developed new sector-wide guidance on children’s consultations in humanitarian contexts and in July we supported Violeta* from Colombia to address the UN Security Council in person at the Children and Armed Conflict annual Open Debate – the first girl ever to do so.

As part of our commitment to shift power and better support locally-led humanitarian action, we channelled more funding last year directly to national and local organisations. Their local expertise and experience makes them best placed to respond in a crisis. In total, 18% of allocations made from the Humanitarian Fund in 2023 ($26 million) were channelled to 139 local and national partners though our country offices. This is almost double the amount allocated in 2022.

Save the Children staff in Egypt prepare supplies for Gaza

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UPHOLDING CHILDREN’S RIGHTS 35

~~“When I see that there is any injustice, I have to say something. I CAN’T KEEP QUIET.”~~

~~Estefany*,15, Peru~~

UPHOLDING CHILDREN’S RIGHTS

Save the Children has been fighting for children’s rights for over 100 years. Our founder drafted the Declaration of the Rights of the Child, the first international declaration promoting child rights, adopted by the League of Nations in 1924. Many years later this evolved into the United Nations Convention on the Rights of the Child (UNCRC). Our work continues every day to try to realise our founding ambition for every child, everywhere, to secure their rights.

At the centre of this work is our support to building systems that are resilient and accountable to children. We do this through driving:

This is helping to drive progress across all four of our global strategic goals.

Significant achievements across Save the Children International, working with national and local partners, include:

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EQUALITY AND NON-DISCRIMINATION

Children have the right to survive, learn, be protected, develop, and participate, free from discrimination and inequality. Yet they often face discrimination because of their age, and many children face additional discrimination based on other aspects of their identity such as gender, disability, socio-economic status, race, religious practice, sexual orientation.

We focus on upholding child rights and achieving equality by tackling the systems that are the root causes of inequality and discrimination.

In 2023:

We supported women and girls to increase their awareness of the issue, integrated the issue of FGM into bylaws, and improved the referral system for victims. After our intervention, we found that the prevalence of FGM declined by 24% across the four regions.

CASE STUDY: Addressing inequality and upholding the rights of children with disabilities in Zambia, Cambodia, Malawi, the Philippines, Ethiopia, Afghanistan*, Sierra Leone, and South Sudan.

Our three-year ‘accelerator’ project to speed up progress for children with disabilities in eight low-middle income countries came to an end in 2023.

The accelerator involved interactive training sessions in each country, co-facilitated with a national disability rights organisation, following which our country teams implemented specific programmatic and/or advocacy pilot projects to support children with disabilities and their families.

These projects spanned all our global goals and took place in both humanitarian and development contexts.

In Zambia, a national hotline was introduced to support parents of children with disabilities. In Cambodia, the national directory of social services was overhauled which has improved access to services for children with disabilities.

and South Sudan, our community awareness campaign urged parents to keep children with disabilities in school. In Sierra Leone, staff were trained in disability inclusivity, improving programmes that reach over 10,000 children.

Following this work, our ‘accelerator’ concept has been recognised as best practice and has been replicated to accelerate our progress on ending child marriage. This work has been made possible thanks to the generous funding of a philanthropist.

* In Afghanistan we undertook training in the spring of 2021, but we have had to pause this work and focus instead on humanitarian assistance.

In Malawi and the Philippines, we provided guidance on how to include people with disabilities during the immediate aftermath of an emergency. In Ethiopia

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THE CLIMATE AND CHILDREN’S RIGHTS 37

~~“If I was the president I would encourage people to plant trees.”~~

Esther, 17, Malawi

THE CLIMATE AND CHILDREN’S RIGHTS

Climate change now threatens to destroy much of the progress we’ve made. Climate change is hurting those least responsible for it most: children. And those already facing hunger and conflict, poverty and discrimination are suffering most of all.

But there’s still time to change course.

Those living in places impacted most by climate change – including children – know best what needs to be done. And as the leading experts on children’s rights, we are working to

increase the climate resilience of children, their communities, and their futures with smart solutions.

We can already see our solutions changing children’s lives, and we’ll keep on innovating to discover more, hand in hand with children, their communities, our trusted partners, and global supporters.

Our response to the climate crisis is a focus for our global advocacy and campaigning, programming and partnerships, fundraising, also with partners, and our own operations.

ADVOCACY & PROGRAMMES & FUNDRAISING & OPERATIONS CAMPAIGNS PARTNERSHIPS PARTNERSHIPS

Reduce the environmental impact of our own operations by delivering change for children with the minimum carbon footprint.

Support children who are impacted by inequality and discrimination to be agents of change and influence at all levels, from local communities to the international community, to recognise that the climate crisis is a children’s rights crisis.

Minimise the impact climate shocks and change have on children by ensuring all our work is climate risk informed. Develop evidence, innovation, and programming at scale for child-centred climate and anticipatory action projects.

Access and optimise an estimated $200 million by 2024 in climate finance from institutional donors, corporations, and foundations including the Green Climate Fund.

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ADVOCACY AND CAMPAIGNS

“If I was the president I would encourage people to plant trees and stop smoke-producing behaviour because these behaviours make the country face a bigger climate crisis.” Esther, climate change champion, 17, Malawi.

Last year we continued our work to support children’s own campaigning and advocacy and amplify their views and demands to decision-makers and the public. Our Generation Hope campaign, for and with children, called for urgent action on the climate and inequality crisis, to create a safe, happy and healthy future for children.

We are advocating for governments to adopt global, regional, and national child-responsive and inclusive climate policies and financing. We also want governments to provide better support for children, phase out the use and subsidy of fossil fuels and other environmentally destructive practices, and create meaningful and safe opportunities for children to participate in climate decision-making. We are working closely with the Children’s Environmental Rights Initiative and the Children in a Changing Climate Coalition among others.

In 2023, our advocacy contributed to:

PROGRAMMING & PARTNERSHIPS: SPOTLIGHT ON CLIMATE & EDUCATION

Our changing climate is threatening children’s learning, health and wellbeing, and safety. Today, 40 million children are having their education disrupted every year because of disasters exacerbated by climate change and more than one billion children live in countries facing extreme climate risks. Current trends suggest that by 2025, the climate crisis will contribute to 12.5 million girls not completing their education.

Last year, our Climate Resilience in Education task team continued to draw on expertise from across the movement to define and drive our global priorities for education and climate change.

Save the Children is playing a powerful role in the climate and education space, with the following achievements and partnerships in 2023:

will take a locally-led approach to adaptation and reach over 185,000 people across 170 remote and rural communities, including 100 schools.

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THE CLIMATE AND CHILDREN’S RIGHTS 39

GENERATION HOPE CAMPAIGN

Generation Hope is our campaign for and with children calling for urgent action on the climate crisis and inequality. It calls for political action to tackle climate change, an increase in public investment in children and for children to part of the decision making on this crucial issue.

In 2023, we supported more than 14,200 children across 40 countries to strengthen their skills and meaningfully lead and participate in campaigns for a greener and fairer future. We delivered an impactful and inspiring Week of Action ahead of the UN Sustainable Development Goals summit during which we gave 3,000 children the tools, safe spaces and platforms to share their views and hold their leaders to account. This included holding the first virtual Children’s Assembly, with over 50 children from more than 10 countries, ensuring that children’s views were heard by world leaders at the summit. We captured the children’s powerful messages in a new publication: Listen. And Act. Children’s messages to global leaders.

In the run up to the Conference of Parties (COP) 28, we supported children in 14 countries to engage in strategic dialogues with their COP delegations through national Generation Hope ‘COP simulations’ so their views were included in COP28 climate discussions.

In 2024, our child advisory group will provide a safe and meaningful space for children to influence the campaign’s direction. We will continue to put children at the centre of our Generation Hope advocacy and campaigning by enhancing our investment in child participation, strengthening our global campaigning efforts and supporting children to deliver their own initiatives at national, regional, and global levels.

If you say we are the world leaders of the next generation, leave us a world to lead. Child from New Zealand

See our stories of children who are speaking out for a greener and more just future: Meet the generation who will change the world

~~“I campaign because I want a better future.”~~ Sara, 15, Kosovo

Sara, 15, at the climate march she attended organised by the child-led group Respect Our Rights (ROR) in Prishtina, Kosovo.

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EARLY WARNING, EARLY ACTION

We know that climate-driven crises will increase in number, scale, frequency, and intensity in the coming years and will have the worst impact on the most vulnerable children and communities. Anticipatory Action, acting ahead of a predicted hazard or weather event, can prevent or reduce the impacts on communities before they fully unfold.

In June 2023, in anticipation of the El Niño climate pattern, we launched an initiative with our global, regional, country teams, and with our partners, to prepare for and act in advance of related impacts. Taking lessons learned from past El Niño events, such as the 2015/2016 event which impacted 60 million people across 23 countries, we allocated $2 million to

FUNDRAISING

Save the Children is the only development/humanitarian focused international NGO accredited to the Green Climate Fund (GCF), the world’s largest climate fund. We currently have three approved projects: a Community-based Climate Resilience Project in Vanuatu; the GCF’s frst education focused project in the Solomon Islands; and the GCF’s frst health focused project in Laos PDR.

We have a further nine projects under development in Africa and Asia, with our total GCF portfolio and pipeline amounting to approximately USD $340 million.

OPERATIONS

Our Environmental Sustainability and Climate Change (ESCC) policy sets out our commitment to reduce CO2e emissions by more than 50% from our 2019 baseline by 2030 at the latest. Last year, we continued to implement actions to reduce our emissions by reducing flights and switching to renewable energy in the countries in which we work. Approximately 50% of our countries have installed or are in the process of implementing solar panels in buildings where we deliver education, health, and water supplies. We have also created a Renewable Energy Unit to provide technical standards and share best practices for countries implementing renewable energy systems.

We are partnering with Oxford University in a project to test new low-cost wind energy systems. We conducted a joint assessment with the university in May 2023 in Somalia, and Gardo was selected as the pilot site. Work has started to build and ship the components for the system and it is expected to be built by the end of 2024.

support communities and local partners to build their resilience and capacity to act once defined triggers were met.

We used this moment to test tools, guidance, and support systems for anticipatory action across the organisation. Based on analysis of expected impacts, local capacity to respond, and our readiness for early action, 14 countries were selected to receive funds for risk informed preparedness and anticipatory action.

In total, 25 countries developed plans for El Niño. This work, which is still ongoing, will inform our work to improve systems for community and child-centred risk monitoring and early action in the future.

Our procurement strategy is for our procurements to originate from national suppliers to reduce our carbon footprint. We are also engaging with our suppliers through a Supplier Sustainability Impact Programme and driving decarbonisation action through knowledge sharing and education. We have a Sustainable Supplier Policy and a >10% weighting to Sustainability is used in sourcing decisions. We understand the importance of supplier/partner engagement activities to advocate them to decarbonise, and we are calculating our emissions from purchased goods and services, and capital goods (Scope 3.1/3.2) in 2024.

Last year, we also created a mechanism to allow us to track and record supply chain sustainability benefits. In 2024, we will be able to identify where supply chain activities or interventions have been able to reduce our environmental impact.

Non-Financial and Sustainability Information Statement

We have included a disclosure of SCI’s approach to climaterelated risks, as mandated by the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022.

Governance

Board oversight of climate-related risks and opportunities

Board of Trustees (the Board)

The Board is accountable for the oversight of climate-related impacts, ensuring material climate risks which could impact the delivery of SCI’s strategy are accounted for and adequate mitigation measures are in place. The Board is supported by the Audit and Risk Committee (ARC), which provides assurance that SCI’s processes for managing risks are effective (see page 63 for a full description of our Governance structure).

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THE CLIMATE AND CHILDREN’S RIGHTS 41

Management of climate-related risks and opportunities

Physical risks

Senior Leadership Team (SLT)

The SLT is responsible for the adoption and implementation of SCI’s climate strategy measures within functional areas of expertise, including the management of climate-related risks and opportunities.

Strategy & Risk Leadership Group (SRLG)

The Strategy and Risk Leadership Group (SRLG) is accountable to the Senior Leadership Team (SLT) for all 12 areas of the Save the Children Association Risk Framework (SCARF). The SRLG meets periodically to assess cross-functional risks, as well as quarterly to review our regional/country level risks to form a SCI-wide view of risks. The newly constituted SRLG is tasked with ensuring that the SLT (and in turn the ARC, and the Board) are sufficiently informed and supported on climate-related issues.

Programmes

Our Crisis Anticipation and Response team monitors and helps develop early action measures to warn countries of climaterelated risks and helps to mitigate these risks before they materialise. The Humanitarian Fund provides funding for our emergency responses and also helps steer resources to support early action to mitigate climate risks.

Operations

Our Environmental Sustainability and Climate Change (ESCC) policy sets out our commitment to reduce CO2e emissions by more than 50% by 2030 at the latest (2019 baseline). The Operations team monitors and periodically reports progress against this target to our SLT and works across functions to manage decarbonisation initiatives.

Strategy and Climate Risk Management

Our response to the climate crisis is a key element of our global strategy. Therefore, it is important that we identify, assess, monitor and mitigate climate risks and take action to capitalise on our climate-related opportunities. Climate risks are analysed when our strategy is developed, and countries consider climate risks when setting and analysing their strategies and funding ambitions.

In terms of managing climate-related impacts, our focus is on the associated transition and physical climate-related risks, and opportunities which are material to our organisation (see Tables 1 and 2, page 42).

Transition risks

Transition risks arise amid the transition to a low-carbon economy that may manifest across existing risk types, including heightened regulatory, reputational, policy and legal, technology and market risks. Reputational, and policy and legal risks are considered material to Save the Children.

Physical risks are both acute and chronic. Acute physical risks represent more extreme weather or climate events, and chronic physical risks represent longer-term shifts in the climate, such as temperature increases, or sea levels rising. Acute and chronic physical risks are considered material to Save the Children.

Risk management process

Save the Children uses an objective-centric risk management approach called the Save the Children Association Risk Framework (SCARF) (see page 53 for details of SCARF).

Integrating climate risks into our SCARF

The assessment and management of climate-related risks is integrated into our SCARF and follows the same governance and processes as other material risks and uncertainties. We have mapped climate-related risks across the 12 key areas of the SCARF to ensure SCI entities adequately analyse and report climate risks using the framework (see page 54 for details on the risk management process).

Risk rating criteria

We have considered the following time horizons to assess our exposure to physical and transition risks:

Material climate-related risks and opportunities

Material risks are those which could potentially threaten Save the Children’s financial and operational performance, and the achievement of our strategy. Table 1 below outlines Save the Children’s material climate-related risks, and Table 2 outlines our material climate-related opportunities. However, the material climate-related risks disclosed are not expected to be material to SCI’s short-term financial outlook in isolation given the mitigations available.

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Table 1: Material climate-related risks faced by Save the Children

----- Start of picture text -----
SCARF area Impact Time
Financial Impact Management Approach
Risk Category Horizon
VOLATILITY, Short-term SCI could experience financial impacts due to extreme weather Mitigation: To manage exposure to physical risks, our focus is
BUSINESS events. In our humanitarian work, we responded to 44 climate/ to preserve the continuity of SCI’s operations and programming
CONTINUITY & weather-related events in 2023. We anticipate that the frequency through several mitigation steps:
RESILIENCE and severity of such events will increase, potentially resulting in: – Each Regional and Country Office regularly monitors the impacts
Acute physical – Increased maintenance costs for buildings/assets damaged and of climate change, which are factored into our Emergency
risks expenses due to programming disruptions. Preparedness Planning Procedures. Lessons learned from past
– Health, safety and wellbeing issues with our employees/ El Niño events are also used to support Country Offices to
beneficiaries increasing costs. develop and update El Niño plans.
– Increased demand for response funding from our Humanitarian – Safety and Security Management Plans are also to be reflective
Fund (HF) and inadequate funding to scale Anticipatory Action of climate risks.
(AA) initiatives to respond to climate hazards, risks, and shocks. – There are continued efforts to raise additional funding for the
HF and for AA.
Chronic physical Medium- to In the case of chronic physical risks, such as significant temperature Mitigation: SCI employs a range of mitigation strategies, including
risks long-term increases and precipitation changes, financial impacts could include: community-based early warning systems, and collaboration with
– Increased costs and disruption to our programmes as employees/ local governments to enhance climate adaptation and resilience.
partners/critical suppliers need to withdraw from specific To mitigate long-term impacts, our focus is to:
locations or relocate. – Continue building our AA capabilities.
– Increased demand for response funding from our HF. – Country Offices maintaining their Emergency Preparedness
Planning Plans.
– Securing the long-term financial stability of the HF.
REGULATORY Medium- to SCI could also experience financial impacts due to transition Mitigation:
AND DONOR long-term risks, such as: – We continuously engage with our Members and donors for
INFLUENCE & – Loss of funding from key donors due to ineffective alignment on their requirements. An Environmental and Social
COMPLIANCE implementation of new environmental requirements. Screening Tool has been developed to ensure our programmes
Transition Risks: – Litigation costs or increased operating expenses from non- do not harm the environment and mitigation plans are in place.
Policy and Legal compliance with environmental regulations, changes in climate- – Our legal department provides advice on relevant laws and
Reputation related policies (e.g. carbon taxes), or enhanced emissions- regulations and our Environmental Sustainability Manager
reporting obligations. performs regulatory horizon scanning.
– Additional costs to accelerate our decarbonisation actions due – We are engaging with innovative climate finance mechanisms to
to increasing donor pressures. fund our decarbonisation initiatives (such as a fund to transition
to renewable energy).
----- End of picture text -----

Table 2: Material climate-related opportunities for Save the Children

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Opportunities/ Impact Time
Financial Impact Management Approach
category Horizon
Green and Short-term The growing interest in climate issues has led to increased Establish SCI as a market leader in programming, advocacy and
climate finance availability of finance for projects that address climate change and campaigning on inclusive climate actions and justice by accessing
Markets promote sustainability. We can continue to expand and explore devolved climate finance. Our goal is to raise $200 million by 2024
opportunities to access climate finance to support our programmes from climate finance mechanisms (e.g. The Green Climate Fund) and
and initiatives. innovative/blended finance sources – see page 40 for more details).
The Green Climate Fund portfolio grew from USD $26.2 million in
2022 to USD $76.1 million in 2024 (not counting co-financing).
Energy transition to Medium- to Switching to renewable energy for SCI’s Country Offices could Save the Children is engaging with innovative climate financing
renewable energy long-term reduce operating costs, greenhouse gas emissions, and exposure to mechanisms to switch to solar energy and transforming our fleet
Energy source future fossil fuel price increases. to reduce our emissions.
Resilience In 2023, three of Save the Children’s Country Offices have
successfully transitioned to renewable energy, and the Fleet
Fleet Medium- to Transforming SCI’s fleet to more fuel-efficient vehicles. Transformation Programme was piloted in 3 countries and will be
Transformation long-term Use of more efficient modes of transport should reduce SCI’s fuel rolled out to 40 countries.
Programme consumption, greenhouse gas emissions, and operating costs.
Resource efficiency
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Resilience of our strategy to climate change and our future focus

The results of our climate risk and opportunities assessment highlight the importance of safeguarding our operations and programming from physical risks, as well as protecting our reputation with key stakeholders to minimise exposure to transition risks. Considering the material risks identified and the mitigation actions we have implemented, along with leveraging our material opportunities, our initial qualitative assessment is that Save the Children is adequately resilient to climate-related risks. We intend to build on this resilience and have made the climate crisis a global focus in our programming, advocacy, and campaigning, as well as in our own operations.

We use climate-related scenario-analysis to manage the climate risks in our programming. In 2024, we intend to use climaterelated scenario analysis to understand the resilience of our strategy in the long-term. The timing of this scenario analysis aligns with our normal strategy development cycle and enables us to test the resilience of our future three-year strategy for 2025–27.

During 2024, we also plan to:

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THE CLIMATE AND CHILDREN’S RIGHTS 43

Climate-related Metrics and Targets

Save the Children International measures its Scope 1, 2 and partial Scope 3 greenhouse gas (GHG) emissions. Our data on our Scope 3 emissions is limited to those from the freight and business travel used when conducting our work; however, we have a project underway during 2024 to measure our Scope 3.1 emissions – purchased goods and services (such as laptops and programme supplies) and our 3.2 emissions – capital goods (such as vehicles). We know that Scope 3.1 emissions form a large part of our overall GHG footprint, therefore, as part of this project we will also set out a strategy for reduction initiatives specifically for our purchased goods and services.

This year, for the first time, Save the Children International is reporting our global emissions, including emissions of our regional and country offices, in order to improve our emissions

reporting transparency. This change has increased the number of countries covered by our SECR report to 59.

On a location basis our global emissions are 54,256 tCO2e. Overall, this is an increase of 2% compared to the equivalent period of 2022. This was largely driven by increases in global business flights, which rose by 40% compared with 2022. This increase in our flights reflects a return to regular business travel post-COVID-19. This was partially offset by a decline in electricity emissions, due to the closure of over 40 sites.

Our emissions intensity was calculated globally on a peremployee basis and totals 2.78 tCO2e for the reporting period. We will continue to calculate this intensity based on our global headcount and emissions, to enable future comparisons to this figure.

Table 3 (below) presents our CO2e emissions footprint from 2019 to 2023, broken down by GHG scope.

Table 3: Energy and carbon disclosures for reporting period 1st January – 31st December[1]

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2019 [5] 2020 2021 2022 2023
Global Global Global Global Global Global %
UK UK UK UK UK
Scope emissions emissions emissions emissions emissions change
emissions emissions emissions emissions emissions
(ex UK) (ex UK) (ex UK) (ex UK) (ex UK) (22-23)
Total Scope 1 - 12,592 - 8,158 - 11,785 - 13,808 - 13,597 -2%
Total Scope 2
44 5,746 28 4,378 17 5,172 16 5,481 16 3,760 -31%
(LB) [2]
Total Scope 2
44 5,746 36 4,473 25 5,214 30 5,510 29 3,765 -32%
(MB) [2]
Total Scope 1
44 18,338 28 12,536 17 16,957 16 19,289 16 17,357 -10%
and 2 (LB) [3]
Total Scope 1
44 18,338 36 12,631 25 16,999 30 19,318 29 17,362 -10%
and 2 (MB) [3]
Total Scope 3 [4] 3,138 37,560 557 18,803 288 25,830 2,035 31,668 [7] 3,779 [8] 33,104 9%
Total Scope 1, 2,
3,182 55,898 585 31,339 305 42,787 2,051 50,957 3,795 50,461 2%
and 3 (LB)
Total Scope 1, 2,
3,182 55,898 593 31,434 313 42,829 2,065 50,986 3,808 50,466 2%
and 3 (MB)
Carbon intensity - 3.46 - 2.01 - 2.63 - 2.88 - 2.78 -3%
(tCO2e/FTE) (LB)
Total energy use
171 100,377 122 68,085 83 94,328 121 91,424 105 89,405 -2%
(MWh) [6]
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  1. Total emissions have been calculated based on non-rounded figures. Any discrepancy in totals is driven by the rounding of reported figures to zero decimal places.

  2. LB is location-based and MB is market-based emissions.

  3. Scope 1 includes natural gas, company cars, and other fuels. Scope 2 includes electricity, and heat and steam.

  4. Scope 3 includes employee cars, flights, public transport, fleet, freight, hotel, rail and international rail, and FERA.

  5. 2019 has been included as the baseline year for Save the Children International.

  6. Energy reporting includes MWh from Scope 1, Scope 2, and Scope 3 employee cars only (as required by the SECR regulation).

  7. Non-company car mileage in 2022 restated, due to a change in reported figures by sites in Colombia. This has resulted in a change in reported Scope 3 emissions.

  8. The increase in UK Scope 3 emissions is largely a result of our business flights, which have increased by 109% compared to 2022.

Save the Children remains committed to achieving a 50% reduction in emissions by 2030.

Our comprehensive carbon management plan is underway, driving decarbonisation efforts across our operations.

During 2024, we plan to develop a net-zero target, in line with the Paris Agreement, in order to ensure long-term resilience and set out a strategic response to the challenges posed by climate change.

We are aware of our reporting requirements under The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

We continue to go beyond the requirement of the Regulations by reporting on all material global emissions in Scope 1 and 2, plus selected Scope 3 emissions, using an operational control approach.

The methodology used to compile our Greenhouse Gas (GHG) emissions inventory is in accordance with the requirements of the following standards: the WRI GHG Protocol Corporate Standard (revised version) and Defra’s Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting requirements (March 2019). UK office emissions have been calculated using the Defra 2023 issue of the conversion factor repository. Global emissions have been calculated using the Defra 2023 and IEA 2023 issues of the conversion factor repositories.

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OUR STRATEGIC ENABLERS

We have identified six key ways to strengthen our work and drive progress towards our strategic goals. We call these our strategic enablers.

In 2022, we put strong foundations in place for these six strategic enablers to accelerate our progress towards our strategic goals. In 2023, we further strengthened and advanced this work, using our enablers more systematically in our humanitarion response, programming, and advocacy.

ADVOCATE, CAMPAIGN & MOBILISE

USE DIGITAL & DATA

PARTNER STRATEGICALLY

We are working to systematically influence change at scale. We want to use compelling evidence from our programmes; support children to advocate and campaign; mobilise the public to shift political conditions; grow our supporter base; and strengthen and use our brand to help drive this change.

We want to use digital platforms to reach more people faster with evidencebased approaches; to campaign more effectively; and to enable better supporter experiences. We want to use data and evidence as vital resources to accelerate and measure our impact, and to anticipate and respond to children’s needs.

In 2023 we:

In 2023 we:

We want to collaborate with diverse public and private sector organisations, drive equitable relationships and leverage strategic opportunities to accelerate better outcomes for children.

In 2023 we:

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OUR STRATEGIC ENABLERS 45

SHIFT POWER TO CHILDREN, COMMUNITIES AND LOCAL PARTNERS

We want to be a true ally to children and their local communities. We are formalising our accountability to them in our strategy and programme delivery. We want to elevate their voices and support them to access the knowledge and resources they need to uphold their rights.

In 2023 we:

To truly shift power, we need to act collectively with other actors and become a sector leader on child-rights focused localisation in all contexts. We have shaped sector commitments and will hold ourselves accountable to them, participating in the Grand Bargain caucus on funding to local actors and co-creating and signing the Pledge for Change, a series of commitments on equitable partnerships, authentic storytelling, and driving wider change within the sector.

BUILD AN AGILE AND INCLUSIVE ORGANISATION

We want to foster a diverse, connected and engaged global workforce and inspire our people to collectively deliver our country and global strategies.

In 2023 we:

GROW AND OPTIMISE RESOURCES

We want to grow our income while diversifying our global funding portfolio and increasing our strategic alignment. Our three-year whole of movement income and spend plan will drive our strategic goals and cost efficiency.

In 2023 we:

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OUR PEOPLE

LEVERAGING TALENT

We continued our work last year to develop and increase diversity of our talent, leadership and management pools, and on optimising our learning systems.

We focused on succession planning for mission critical roles and senior leadership roles such as Country Directors and our extended leadership team.

Last year we redeveloped the Global Learning Management System, our online staff training platform, to increase accessibility, provide a more positive user experience, and improve reporting. We also refreshed our leadership and people management curriculum. Last year, women made up 60% of total trainees, up from 55% the previous year. This reflects our commitment to ensuring emerging female leaders have access to the right development opportunities.

OUR REWARD POLICY

Our reward policy helps us to build a competitive, flexible salary and benefits structure and takes into account the variable contexts in which we operate.

In 2023, we undertook an extensive review of economic indicators across various locations, and market trends within the international non-government organisation and broader sectors, to revise our salary ranges. From January 2023, we gave a 5% cost of living uplift to our staff in the UK and Europe, with employees on low salary grades receiving an additional 2% on top of the 5%. Staff in country offices received salary increases following an assessment in each country. The decisions were based on market comparison, affordability, and the rising costs our people are currently facing.

DIVERSITY, EQUITY, AND INCLUSION

We are committed to creating a truly diverse, equitable, and inclusive organisation. Our Diversity, Equity, and Inclusion policy outlines our commitment to fairness in our recruitment, training, promotion, and employment processes for all staff. It also prohibits any form of discrimination against staff from protected characteristics, including sex/gender, disability, race, sexual orientation, gender identity and expression reassignment, religion or belief, marital or civil partner status, and pregnancy and maternity.

Through our policy we seek to remove unnecessary barriers for our existing staff, including our employees with disabilities, to ensure fair opportunities through training, growth, and career planning, and to ensure all positions are recruited in a fair and non-discriminatory manner.

At Save the Children, we know that great teams are made up of people who come from a wide range of backgrounds. We believe that if we want to better reflect and represent the children and communities we serve, then we must continue to diversify the make-up of our organisation, including our leadership teams, and create an inclusive work environment where staff can be themselves.

We are aiming for women to make up 50% of staff in our leadership roles and for at least 60% of our leaders at all levels to share their nationality with the countries in which we work.

Our 2023 DEI data

----- Start of picture text -----
% female (% % staff who hold
increase or nationality from
decrease from the countries in
2022) which SCI works
SCI/SCAssociation
47% 18%
Board composition
SCI Senior Leadership
Team and Extended 58% (down 6%) 10% (up 3%)
Leadership Team
SCI Regional Office
Senior Management 53% (up 5%) 56% (up 4%)
team
SCI Country Directors 54% (down 2%) 42%
SCI Country Office
Senior Management 49% (down 3%) 78%
Team
All SCI staff* 41% 88%
----- End of picture text -----**

**Including Save the Children Europe, Save the Children Thailand, Save the Children Kosovo, Save the Children Albania

***Due to two new hires in 2023 but still above our target of 50%

As part of our global strategy, we have been working closely with all our regions to develop and implement DEI action plans to take account of local contexts and norms and implement measures to address barriers for underrepresented groups. Going forward we will also be working closely with country offices to strengthen succession planning and ensure a strong pipeline of female colleagues for leadership positions.

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OUR PEOPLE 47

KEY DEI ACHIEVEMENTS IN 2023

Our DEI strategy is centred around four key pillars.

1. Talent Acquisition, Management, and Development

We undertook work to explore the root causes of the gender pay gap, with recommendations expected in 2024. See below for more detail.

We refreshed our ‘Passport to Success’ induction for new starters to include clearer information about our approach to diversity, equity, and inclusion at Save the Children and how staff can request reasonable adjustments should they wish to.

2. Leadership and culture

We launched a new DEI e-learning module to introduce staff to the importance of DEI and we continued to deliver unconscious bias training. We have trained more than 4,000 staff and leaders globally since we began this in 2022.

We also refreshed our talent review process to equip our staff, especially line managers, to be aware of and mitigate against unconscious bias during talent discussions.

3. People Data

We introduced new DEI people metrics to better reflect our strategic ambitions. We now measure the proportion of staff and leaders who share their nationality with the regions in which we work.

to the previous year. We are committed to bringing our gender pay gap down to no more than 5%.

As of April 2023, women occupied 56% of the highest paid jobs and 75% of the lowest paid jobs at Save the Children International. The percentage of women and men in each pay quarter is shown below.

In 2023, we launched a gender pay gap analysis study in conjunction with our Gender Pay Gap Advisory Group to examine the root causes of our gender pay gap. This work is being led by an external consultant who will develop actionable, evidence-based recommendations to inform the basis of an action plan in 2024 on how we can narrow the gap.

----- Start of picture text -----
Women (%) Men (%)
Upper hourly pay quarter
56.4% 43.6%
(highest paid)
Upper middle hourly pay quarter 65.5% 34.6%
Lower middle hourly pay quarter 80.0% 20.0%
Lower hourly pay quarter
74.6% 25.5%
(lowest paid)
----- End of picture text -----

4. Voice and Communication

We launched a new global DEI steering group made up of regional and country representatives and we developed regional and country DEI action plans to support us to achieve our global DEI strategy collectively.

We delivered DEI training to members of the Eastern and Southern Africa region and delivered an engagement session with all senior leaders from around the Movement when they gathered in South Korea in June 2023.

*The gender pay gap is the difference in the average hourly wage of all men and women across a workforce. It is expressed in terms of a mean calculated by adding up the hourly rates of all women working in an organisation, dividing this by the total number of women in the organisation and comparing the result to the same calculation for men, and a median which puts the hourly rates for every women in an organisation into order from lowest to highest, identifies the middle value and compares this to the same figure for men.

We launched a new diversity calendar to increase awareness of global days of religious, cultural and social importance, and guidance for line managers on how to recognise these.

We provided our employee networks with a budget to support their activities. During the year they ran a women’s health series, a Black history panel event, a webinar on homophobia, biphobia, interphobia, and transphobia, and events to raise awareness of Islamophobia and anti-Semitism.

OUR GENDER PAY GAP[6]

As required by UK legislation, we publish data annually on the gender pay gap between male and female UK employees of our Save the Children International global centre. In April 2023, our mean gender pay gap was 11.8%, a reduction of 2.1% compared to the previous year. Our median gender pay gap was 13%. This represents an increase of 1.9% compared

Shiela, a Save the Children staff member, visiting her old neighbourhood in the Philippines.

  1. The figures above represent all UK employees of Save the Children International and any International employees who report and are paid through the UK office. This comprises 79% of the total UK employees classed as eligible to report on, or 9.2% of our total global population.

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STAFF SAFEGUARDING

Anti-harassment and employee safeguarding

We have zero tolerance for all forms of harassment, bullying and intimidation. Our Anti-Harassment, Intimidation and Bullying policy reinforces our expectations to ensure we foster a safe and trusted working environment for all our people by explicitly identifying that any form of harassment, intimidation, bullying, physical violence, sexual violence, or exploitation will not be tolerated within our organisation.

Save the Children International expects all our staff and representatives to strive for the highest standards of integrity and accountability, and to conduct themselves in line with this policy and our Code of Conduct. We will continue to build on our awareness, prevention, and reporting work to safeguard our staff.

Last year we transformed our Anti-Harassment training into an online training course and made it available to all staff around the movement. This is an important step to further raise awareness of respect and dignity in the workplace.

We promote a culture of feedback in which staff are encouraged to talk openly, speak up in uncomfortable situations, and raise concerns if they have any. In 2023, the increased number of concerns reported via our incident reporting system, Datix, and the Whistleblowing and Safecall hotlines, indicates the trust staff have in our reporting systems.

Reported concerns

A total of 874 staff safeguarding concerns were reported in 2023, an increase of 31% from the 666 concerns reported in 2022. We believe this increase in the number of cases is the result of improved awareness and confidence that action will be taken.

Included in these 874 cases were:

Included in these 874 cases were:
Staff grievances 350
Bullying, harassment, or intimidation 301
Other safeguarding incidents 86
Sexual harassment and exploitation 68
Physical Abuse 13
Road Traffc Accident 10
Exploitation 4
Unsafe Programming 4
Neglect 2
Emotional Abuse 1
Safeguarding type not listed 4
Case reclassifed or rejected
(not a staff safeguarding concern) 31
Total concerns reported in the year 874
Of all concerns reported –
Number of cases closed 520
Of all cases closed –
Number of substantiated allegations 166

Substantiated allegations

(Total: 166)

49 A written warning
37 No action taken
36 Contract terminated
13 A verbal warning
8 Contract not extended
7 Counselling
7 Resigned
7 Supervision
2 Suspended

Of the 874 concerns reported during the year, 520 were investigated and the cases were closed. The remaining 354 cases are still under investigation.

No action was taken in 37 cases as they were staff grievances where disciplinary action was not required. However other actions were taken where required.

Information on Safeguarding of children and adults in the community can be found in the Trustees’ Risk Statement from page 53.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL PERFORMANCE 49

FINANCIAL PERFORMANCE

In 2023, Save the Children International spending on our international programmes, humanitarian responses, campaigning, and advocacy matched our record level of spend in 2022. Our expenditure was $1,548 million compared to $1,512 million in 2022. Our income fell from $1,597 million in 2022 to $1,540 million in 2023, a decrease of 4% ($57 million).

Our record expenditure in 2022 and 2023 is primarily due to our expanding humanitarian work. In 2023, we responded to 121 global emergencies compared to 107 in 2022, a rise of 13%. Our total humanitarian expenditure was $885 million, compared to $856 million in 2022. Our expenditure in Syria and Türkiye increased by $50 million following the devastating earthquake in February 2023. Our response in Ukraine was our largest at $102 million, which was $18 million more than the previous year.

CHALLENGES

During 2023, high inflation and the rising cost of living continued to be challenging. Currency volatility eased, with G20 currencies stabilising against the dollar but currencies used in our country offices continued to devalue. While this resulted in increased purchasing power in many country offices (where spending is mostly incurred in local currencies), this was against a context of high local inflation rates and rising living costs.

In 2023, we faced more challenges than before getting funds into the countries we work in, putting our work at risk. We had partial funding suspensions into Sudan due to conflict, in Syria following regulatory restrictions, and in Myanmar with local registration and banking issues. After significant efforts from

our Treasury, Legal, and Operational teams, we successfully deployed alternative funding mechanisms to maintain or restart funding in these countries.

After several years of strong growth in income (which has enabled us to invest in key priorities for our strategy), we are expecting slower growth over the next couple of years. Planning for this, while global inflation continues to increase our costs, requires action. Through our fit for the future change programme in 2024 we will take steps to strengthen our financial sustainability and become a stronger, locally led, globally connected movement.

INCOME

Save the Children International’s income in 2023 was $1,540 million.

In 2023, 93% of our income was received directly from Save the Children member organisations directly or through grants from Save the Children Association, compared to 98% in 2022. 5% of income was received in direct grants and donations by our country offices, increasing from $25 million to $75 million, largely from UNHCR and World Food Programme funding no longer being received through Save the Children members. Save the Children US continues to contribute the most funding. The largest donor supporting Save the Children International programmes is the United States Agency for International Development (USAID), with a total portfolio of $351 million.

Income from gifts-in-kind was $91 million, similar to 2022. Investment income was $12.3 million compared to $3.9 million in 2022 resulting from higher interest rates.

Income from donations: $1,524 M

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New Zealand $ 2.4m Netherlands $ 40.6m
Hong Kong $ 9.1m Denmark $ 48.6m
Japan $ 11.6m SCA $ 52.0m
Switzerland $ 15.3m Germany $ 58.2m
Other grants Direct grants
and donations $ 16.6m and donation $ 74.7m
Australia $ 17.9m Italy $ 79.5m
Spain $ 23.6m Sweden $ 91.0m
Finland $ 24.9m Norway $ 106.1m
Korea $ 27.8m United Kingdom $ 185.8m
Canada $ 36.2m United States $ 602.3m
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Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 50 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

EXPENDITURE

Save the Children International’s expenditure in 2023 was $1,548 million.

Our expenditure on programming and advocacy was across the four pillars of our strategy and spending was similar to 2022. Our work to ensure children have a Healthy Start in Life continued to see the largest proportion of our expenditure on charitable activities at 37%.

Expenditure on our Safe Back to School and Learning work was 27% and expenditure on both Live Free From Violence and Safety Nets and Resilient Families was 18%. More detailed descriptions of the four pillars in our strategy can be found in our strategy section on page 16. A detailed analysis of expenditure is given in Note 3 to the accounts.

EXPENDITURE BY REGION

Total programme expenditure in our regions was $1,414 million, similar to 2022, with increased expenditure in our East and Southern Africa and Middle East, Northern Africa and Eastern Europe regions offset by reduced expenditure in Asia, West and Central Africa and Latin American and Caribbean regions.

53% of programme expenditure was in our 10 largest countries. Expenditure in Somalia continued to increase to meet the immediate needs of children in drought-affected communities. Our response to the conflict in Ukraine also continued to grow in 2023. Following the devastating earthquake in February 2023, our expenditure in Syria and Türkiye increased by, on average, $25 million in both countries.

However, in Yemen expenditure fell due to a decrease in food assistance from the World Food Programme and in Afghanistan expenditure fell due to government restrictions on implementing Health and Nutrition activities.

SUPPORT COSTS

In 2023, our expenditure on management and administration costs was $40 million or 2.6% of our total expenditure compared to $30 million and 2% in 2022. IT expenditure increased by $5 million with the deployment of new systems. We spent a further $26 million on our global transformation projects aimed at improving our efficiency and effectiveness.

GRANT-MAKING POLICY

Collaboration with others to achieve shared goals is the only way we will achieve the aims of our 2030 strategy. The grants we make to partners enable them to contribute to our 2030 breakthroughs and strengthen their organisational capacity. We carefully consider the experience, reach, and governance of potential partners, as well as the value they will add to help us reach the most deprived and marginalised children. We carefully monitor and advise on the spending of all our grants. In 2023, 22% of our expenditure was through our partners, which is a similar proportion to 2022. Please see page 82 in the financial statements where we list 50 of the key partners we worked with in 2023.

BALANCE SHEET

Our net assets were $209 million, $7.9 million lower than 2022. A fall in amounts owed to Save the Children International by Save the Children members was offset by a reduction in trade creditors and accruals. Cash held was $284 million, an increase of $33.5 million compared to 2022, due to a movement of $49 million from short term deposits. Save the Children International has an investments policy which was approved by the finance committee on 7 June 2022. The objective of the policy is to ensure that Save the Children International maximises interest returns on available funds while minimising risk.

Expenditure by region

Expenditure by our strategy: $1,546 M

Figures are in $ millions

----- Start of picture text -----
Healthy start in life $ 573m
Safe back to school and learning $ 411m
Live free from violence $ 278m
Safety nets and resilient families $ 284m
----- End of picture text -----

----- Start of picture text -----
500
450
400
350
300
250
200
150
100
50
0
ESA MENAEE ASIA WCA LAC
2023 2022
468 462
370 317
266 289
223 241
87 98
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Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL PERFORMANCE 51

HOW WE MONITOR OUR FINANCIAL PERFORMANCE

Our finance department is responsible for ensuring strong financial planning, budgeting, reporting and compliance with key controls. Our key financial controls include adherence to the scheme of delegation and reconciliation and review of accounts throughout and at the end of the year. We also monitor and report on key balance sheet items such as liquidity and foreign exchange exposures. We hold ourselves responsible and accountable through monthly reporting on Country Office financial Key Performance Indicators which are designed to monitor our key controls, to ensure these are working effectively. Our management team reviews detailed income and expenditure reports through the year and conducts two in-year reforecast processes, which are then shared to our trustees for approval.

GENERAL FUNDS

General Funds comprises investment and other income arising through Save the Children International’s activities, and foreign exchange gains and losses. The balance of $8.5 million has fallen by $0.3 million as funds were transferred to fund international programme operational activity during 2023.

INTERNATIONAL PROGRAMMING RESERVE

Of the $15 million total available reserves as of 31 December 2023, $8.8 million was held by Save the Children International. A further $6.2 million of the International Programming Reserve was in the form of letters of credit from Save the Children members (shown as contingent assets in Note 18 to the accounts). These letters of credit allow Save the Children International unconditional and irrevocable access to funds on demand in the event of reserves being required.

RESERVES POLICY

CLOSURE RESERVE

The level of reserves is reviewed on an annual basis and where appropriate adjusted to reflect changes in either the likelihood or impact of an identified risk in the event of it materialising. At the time of approving this report, the trustees believe the reserves levels continue to remain appropriate. Trustees have set an International Programming Reserves target of $15 million to cover any material foreseen or unforeseen programming liabilities and a Closure Reserve target of $5.1 million to cover the associated costs in the event of closure or wind-down of our core operations. Costs associated with the closure and/or wind-down of International Programming work are covered separately by member indemnities up to a target of $20 million. Trustees have not set a target for General Funds (i.e. free reserves) which mostly comprises of investment income and foreign exchange gains and losses; however, this will be considered during 2024.

This represents funds to cover the salary and personnel costs of closure or wind-down of our non-international programming activities. The reserve currently stands at $5.1 million, which is a slight increase on our 2022 closing balance of $4.9 million due to a rise in staff numbers. This required a higher provision to cover our potential personnel costs. The trustees have re-evaluated these funds and confirmed that this is an appropriate target level for these purposes at the date of signing this report.

INTERNATIONAL PROGRAMME GRANTS

International programme grants represent funds received from members for development and humanitarian projects. The fund balance increases or decreases in line with programme activity, the reduction of $2 million is within the normal movement range.

Country expenditure

Figures are in $ millions

----- Start of picture text -----
160
140
120
100
80
60
40
20
0
Somalia Ukraine Myanmar Ethiopia Yemen Syria Afghanistan Nigeria South Sudan Sudan
2023 2022
146 127
102 85 81 86
85 73 72 83
58 77
53 64
44 49 43 40
58 33
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Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 52 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

INTERNATIONAL PROGRAMME OPERATIONAL FUND

The international programme operational fund represents contributions received from members for the running costs of Save the Children International’s international programme work that is not directly attributable to projects. The increase of $8 million is mainly due to additional funds for our fleet replacement project and pre-positioned stock for our humanitarian work.

STRATEGIC INVESTMENT FUND

This fund is used to pre-finance our High Performing Organisation project capital spend to ensure the organisation can deliver on its strategic plan with an emphasis on investing in the portfolio of global transformation projects aimed at improving our efficiency and effectiveness. The use of reserves to fund system developments was agreed with Save the Children members and the reserve will be replenished over the coming years in accordance with that agreement. Consequently, the Strategic Investment Fund has been in a negative position since the end of 2021 and will be for the next five years. The replenishment plan in place with all Save the Children members gives Save the Children International a reasonable expectation of receiving income in the future. As stated in the replenishment plan, members provide funds on an annual basis to Save the Children International for an amount equivalent to the annual depreciation of the High Performing Organisation capital costs.

MEMBER GROWTH FUND

The member growth fund represents funds received to support the continued growth and development of our members.

GOING CONCERN

The trustees have prepared cash-flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that, considering reasonably possible downsides on our operations and its financial resources, the Group and Charitable Company will have sufficient funds to meet its liabilities as they fall due for that period.

Consequently, the trustees are confident that the Group and Charitable Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. Note 1b of the financial statements (page 77) provides more detail on the trustees’ going concern assessment.

Reserves and funds

Reserves and funds
2023 2022
$millions $millions
General funds 8.5 8.9
Fixed asset funds 32.8 37.1
International programming designated funds 11.8 21.6
International programming reserve 8.8 8.8
Closure reserve 5.1 4.9
Total unrestricted 67.0 81.3
International programme grants 149.0 151.2
International programme operational fund 11.9 4.1
Strategic investment fund (21.9) (22.0)
Member growth fund 3.4 2.7
Total Restricted funds 142.4 136.0
Total funds 209.4 217.3

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

TRUSTEES’ RISK STATEMENT 53

TRUSTEES’ RISK STATEMENT

Our teams work in some of the most deprived and hard to reach places in the world.

Risk-taking is necessary if we are to achieve our ambition for children, but it is always balanced with our responsibility to protect the communities we serve, our staff, our brand and reputation, and our assets.

It is therefore vital we have a shared understanding of our risks across the whole of the Save the Children Association if we are to innovate, take advantage of new opportunities, and take on new risks.

delivering our global strategy and preserving and furthering our brand and reputation. To that effect, we have defined, within each of those areas, objectives we must meet, based on the following principle: if we are meeting our objectives, we are – by definition – managing risk and trade-offs, as well as able to take the ‘right’ risks, in pursuit of our strategy.

We have worked to ensure that these objectives are:

Driving change in our risk culture: our new objectivecentric risk management approach and framework

In 2023, we made significant progress in embedding the revisions to the organisational risk management framework that we began in 2022. This involved grounding it in modern risk management thinking by centralising risk management around our objectives.

We have developed a Movement-wide Save the Children Association Risk Framework (SCARF), to take the next step in our risk maturity.

In the SCARF, we have identified 12 key risk areas of focus (see ‘honeycomb’ further below) that are vital to executing and

With the SCARF and this objective-centric risk management approach, our goal is to move away from simplistic ‘risk lists’ of ‘all the things that could go wrong’, which can sometimes drive an unhealthy degree of risk-aversion, to a conversation focused on objectives and ‘the things we must get right’ to enable us to execute our strategy effectively. We have therefore focused our discussions on key operational and strategic risks that could impact the achievement of those objectives and thereby the delivery of our strategy.

----- Start of picture text -----
Safeguarding
children,
communities
Governance
and staff
(including Safety
Regulatory and
& Security)
Volatility, Business Quality Donor Influence
Continuity & Programme Design, & Compliance
Resilience Delivery & Impact (in particular
Sanctions)
Funding our
Cyber-security &
strategy & financial
Data Protection
sustainability
Leadership, Culture Policy, Advocacy & Partnerships &
& People Campaigns Shiffting Power
Business
Transformation, Minimising and
Optimisation & combating Fraud
Innovation
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BRAND REPUTATION

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 54 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

Climate change is embedded throughout the SCARF (and does not appear as a stand-alone area), as climate-related risks and opportunities can occur throughout any of the areas of the framework: we have mapped such risks and opportunities across the 12 areas of the SCARF for the 2023 time period, to ensure SCI entities (Country Offices, Regional Offices and Centre) adequately analyse and report those using the framework.

In addition, we have included a disclosure of SCI’s approach to climate-related risks, as mandated by the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022. Climate-related scenarios, metrics, and targets can be found on pages 41-42.

CONTINUOUS IMPROVEMENTS TO THE WAY WE MANAGE INCIDENTS

In 2023, we made good progress on the core components of a joint Safeguarding and Counter-Fraud workplan we established in 2022. We are continuing to strengthen our response systems to provide efficient and fair outcomes for survivors of safeguarding incidents and mitigate any identified risks before harm occurs. We investigate concerns proportionately to the risk and level of harm and/or loss so that we can devote more resources to complex cases and resolve simpler cases quickly. This is being achieved through ongoing review of investigation procedures, developing a certified career pathway for investigators, and establishing quality assurance processes to maintain quality investigations.

Our Risk Management Process

----- Start of picture text -----
• Trustees are accountable for managing and controlling risks
Board of Trustees (including climate-related risks)
• Trustees set and lead on the risk culture
• Trustees set and review the organisation’s risk appetite, and
take decisions on key risks escalated by management
Country Office, Regional Office and Strategy Risk • Advise the Board on financial control and risk management,
& Leadership Group assurance and control effectiveness
• Risk management governance, quality and effectiveness
Senior Leadership Team
• Accountable for risk management strategies
Identify, Assess, Mitigate, Monitor and Report • Oversees incident response and crisis management
• Drives for continuous improvement in risk management
Three lines
1 2 3
• Line 1: risk ownership and control: maintaining an effective
Day-to-day Management Independent
risk management and control environment as part of
risk systems and assurance audit and assurence
day-to-day operations
controls
• Line 2: central monitoring of key risks by subject-matter
Management, Subject-matter Internal audit experts and divisional functions
staff, volunteers, experts and risk
• Line 3: independent internal and external audits to test
partners team External audit
design and operating effectiveness of systems and controls,
including the risk management framework
• Risk process: all employees, partners and volunteers
Identify Analyse Evaluate Manage Review
risk risk risk risk risk contribute to managing risk within their division or area
of subject-matter expertise and highlight climate-related risks
• Provide subject-matter expertise, tools, methodology to
Risk Facilitation Team facilitate effective risk management
----- End of picture text -----*

*Save the Children International uses the definition of volunteer to mean: ‘anyone who is part of or supports delivery of our programmes but is not a staff member, partner, supplier or contractor’. Our volunteers project aims to implement standards, systems and tools by which to manage volunteers uniformly across Save the Children International, thereby mitigating safeguarding risks. Volunteers directly managed by Save the Children International fall within three categories (incentive volunteer, community volunteer and casual work), and they must abide by our standards and processes.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

TRUSTEES’ RISK STATEMENT 55

HOW WE MITIGATED RISKS IN 2023: A FOCUS ON FIVE KEY AREAS OF EXPOSURE

This section sets out the five priority areas of the SCARF where – despite some quality work and many actions underway – we still feel we have more to do to ensure we meet our objectives and thereby reduce risk to the execution of our strategy and preservation of our brand and reputation. This will be achieved through action and close monitoring by management in these five areas

The table below summarises our approaches in managing these key areas of risks, including SCI’s material climaterelated risks, but this is only part of our comprehensive risk framework. Other areas of the SCARF are regularly reviewed by subject matter experts at Country Office, Regional Office, and Centre levels with key risk information and lead to action when needed. This is escalated to the centre (headquarters), Senior Leadership Team, and the Board when relevant. Following a review of oversight and governance in one

country office, Trustees have during 2024 approved an action plan to strengthen leadership engagement and messaging on integrity, ethics and risk; management structures and oversight; incident and crisis management; and culture and values.

WORKING TOGETHER TO MANAGE SHARED RISKS WITHIN THE SAVE THE CHILDREN MOVEMENT

The Save the Children Association operates with a networked structure, and Members share exposure to financial, operational, and reputational risks. Following our earlier work on developing a joint Save the Children Association risk appetite, and through our Save the Children Association shared risk leadership group calls, work will be initiated to revise and update our joint risk appetite statements which will enable us to not only determine whether our net risk exposure across the SCARF areas remains acceptable, but also take informed risks in pursuit of our strategy for children.

VOLATILITY, BUSINESS CONTINUITY & RESILIENCE

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 56 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

LEADERSHIP, CULTURE & PEOPLE

How we are meeting our objectives and reducing our risk exposure

OBJECTIVES

RISK: inappropriate behaviours in our work environment, losing or not attracting talented staff, etc.

How we will further achieve our objectives and reduce our risk exposure

CYBER-SECURITY AND DATA PROTECTION

How we are meeting our objectives How we will further achieve our and reducing our risk exposure objectives and reduce our risk exposure

OBJECTIVES

RISK: cyberattacks on our digital systems, breaches of data protection regulations, etc.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

TRUSTEES’ RISK STATEMENT 57

PARTNERSHIPS AND SHIFTING POWER

How we are meeting our objectives and reducing our risk exposure

OBJECTIVES

Planned work to further achieve our objectives and reduce our risk exposure

• Globally, we have a strategic partnership with World Wildlife Fund (WWF) to RISK: failure to meet our commitment to the address climate risks, and our long- Grand Bargain[7] , failure to deliver quality term partners BCG and Accenture have programming with and through local partners, supported us on our environmental etc. sustainability efforts.

REGULATORY AND DONOR INFLUENCE & COMPLIANCE (IN PARTICULAR SANCTIONS)

How we are meeting our objectives and reducing our risk exposure

OBJECTIVES

Planned work to further achieve our objectives and reduce our risk exposure

RISK: reputational and/or financial losses

due to ineffective implementation of donor requirements, breaches of local and international laws and regulations, etc.

  1. https://interagencystandingcommittee.org/about-the-grand-bargain

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 58 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

CHILD AND COMMUNITY SAFEGUARDING

Save the Children exists to make the world a safer place for children and their communities—and that starts with ensuring our own organisation is safe for them.

We have zero-tolerance towards the abuse or exploitation of children or adults in the communities where we work by our staff, partners, and representatives. We are committed to preventing any harm to children or adults, whether intentional or accidental, and caused either directly or indirectly by our activities. We have comprehensive measures in place to prevent children and adults from being harmed and take every safeguarding concern that we receive seriously.

Our safeguarding work is supported by a global team of safeguarding professionals and a pool of trained investigators. Most of these staff are based in the countries we work in to ensure our approach is appropriate for the contexts we work in.

We are also committed to safeguarding our own staff. Staff safeguarding is covered in the People and Organisation section, on page 48.

OUR APPROACH

We believe that fostering a culture of open and transparent reporting is vital to keep people safe; and actively encourage our staff, the children, and adults in the communities where we work to report any concerns to us.

Our Safeguarding approach is built around five pillars: building awareness among our staff, partners, and communities of what harm may look like and that it isn’t acceptable; ensuring everyone knows how to report a safeguarding concern and is confident that reporting mechanisms are available, safe, and accessible; responding to cases effectively to ensure appropriate action is taken; preventing harm from happening again or at all; and ensuring our approach is survivor centred.

A reportable safeguarding concern can include a wide range of situations where a person reports that a child or community member was harmed or placed at risk of harm. This includes incidents from a playground accident to a child not wearing a seatbelt, neglect, bullying or harassment of an adult in the community, or a Save the Children representative suspected of engaging in exploitative misconduct.

----- Start of picture text -----
All Safeguarding concerns broken All substantiated Safeguarding
down by category type concerns
TOTAL NUMBER OF
1090 REPORTED INCIDENTS
917 511 1,090
622
NUMBER OF
CASES CLOSED
223 494 476 872
345 209
282
173
98 NUMBER OF
97 78 138 SUBSTANTIATED CASES
25 74 13 58 31
2022 2023 2022 2023 476
Child Adult Unsafe Programme Both (Child & Adult)
----- End of picture text -----

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

CHILD AND COMMUNITY SAFEGUARDING 59

Reportable concerns also include those with a potential risk of harm, even if no harm occurs, such as a fence missing between a school and a road, people driving carelessly, or staff, volunteers, or partners left alone with a child.

Overall reporting in 2023 increased by 19% to 1,090 reported concerns (up by 173 compared to 2022) and followed a similar pattern in growth and types of incidents as the previous year – including a rise of 21% in the least serious concerns which represented 63% of overall concerns. These include early warnings where there was a potential risk of harm (but no harm took place) which was subsequently mitigated.

The rise in reported concerns was also driven by an increase in adult safeguarding concerns which was up by 50% (from 198 in 2022 to 297 in 2023). We believe this is due to the increased awareness of adult safeguarding in the communities in which we work. For example, in our Middle East, North Africa and Eastern Europe (MENAEE) region, two working groups tied to adult safeguarding concerns were set up last year – one to raise awareness and another to tackle barriers in reporting. The region reported just over double the adult safeguarding concerns in 2023 (80) as in 2022 (39).

Unsafe programming concerns rose by 18% in 2023. These are concerns regarding programme design or implementation issues such as construction errors or accidents. While this category of reports has increased year on year, we expect this is partly due to targeted efforts to raise awareness of risks that can arise across our programmes, including equipping field teams with tools and checklists to identify issues during programme visits.

REPORTING INCIDENTS TO AUTHORITIES

It is always our priority to act in the best interests of survivors. SCI’s policy is to report allegations of criminal conduct to local authorities unless there is a justifiable reason not to – including if reporting poses an additional risk to the child or adult, the child or adult does not consent to SCI making the report, or if the contexts mean it is not possible to do so (for example, some local police authorities will not accept reports of abuse by third parties). These decisions are taken under the guidance of our safeguarding team based on the specific circumstances of each case and the political, religious, or cultural context in the countries where we work and, where relevant, in consultation with SCI’s legal team and local lawyers.

RESPONSE

Reducing case closure times to below 60 days was a key priority in 2023 – a target we surpassed, with an average closure time of 56 days.

PREVENTION & AWARENESS

Continually integrating and embedding safeguarding into our organisational culture, across departments and functions, and across our wider Save the Children movement, remains our key priority in 2024. To achieve this, we will focus on strengthening our safeguarding capabilities, further activating our organisation-wide approach to prevention, implementing innovative approaches, and strengthening co-operation throughout our movement.

Locations with previously low reporting also saw an increase in reports, most notably in our Latin America and Caribbean region (from 113 in 2022 to 219 in 2023 – a 94% increase). We attribute this to several awareness-raising activities carried out in the region, including specialised training for local Safeguarding staff.

Despite the overall increase in the number of reported incidents last year, the number of substantiated cases fell in 2023 to 476 (compared to 494 in 2022).

There were 12 substantiated cases involving child and adult safeguarding concerns of sexual abuse perpetrated by staff last year.[8 ] One of these cases was subsequently found not to have been a case of sexual misconduct. The remaining 11 cases led to disciplinary action, including five contract terminations, two resignations, one dismissal, and one contract not being extended. It is Save the Children’s policy not to provide these former staff members with a letter or any other form of recommendation.

  1. These figures are based on data extracted on 2 January 2024.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 60 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

COUNTER FRAUD

Effective stewardship of the funds entrusted to us by our supporters is of vital importance to us. We require all our staff to protect our resources against fraud and theft by staff, partners, suppliers, volunteers, contractors, and community members. Save the Children International’s Counter Fraud Unit investigates breaches of policy through fraudulent behaviour and leads on the delivery of the organisation’s four pillared counter fraud strategy: Prevention, Awareness, Reporting, and Response.

PREVENTION

Last year, 25 of our country offices completed fraud risk assessments. 23 of these were due in 2023 and two Country Offices repeated the exercise voluntarily.

Identifying risks and monitoring the completion of mitigating actions contributes toward our ‘right first time’ approach, decreasing the burden on response functions to investigate high caseloads and the repeat occurrence of similar incidents. Locations rated as very high and high complexity in our ‘country complexity data’ are required to complete the exercise annually, and medium and low complexity locations complete it biennially.

AWARENESS

Fraud, Bribery and Corruption Awareness e-learning is one of Save the Children international’s mandatory induction training modules. All staff must complete the training within three months of joining the organisation. Existing staff are required to take a refresher training course every two years.

REPORTING

In 2023, the total number of cases matched that in 2022, remaining at 1,006. There was, however, a significant change in the overall composition of cases by triage level. There was an 8% decrease in level three cases (deemed the least serious), a 10% increase in level two cases and a 134% increase in level one cases (deemed the most serious because they either involve material monetary sums, or senior staff). Although a significant proportion of these allegations related to poor application of organisational policies, rather than gross misconduct, the increase is a cause for concern. During 2024, we have conducted a full review of level one cases. We have concluded that there is no evidence of systemic weaknesses in controls or oversight, but that work to improve processes for investigations and reporting, as well as broader work to strengthen our leadership and culture, should be intensified. The increase in reporting does however indicate that we have truly embedded a positive culture of speaking up.

While triage level one cases increased significantly in 2023, level three cases remained the largest category at 58% of all cases.

TOTAL NUMBER OF CASES 1,006 NUMBER OF CASES CLOSED 1,012* NUMBER OF SUBSTANTIATED CASES 456

The most common type of fraud was that perpetrated during the programming stage of a project. This was also the case in 2022. In 2023, these represented 41% of all cases.

RESPONSE

We closed 17% more cases last year and, for the first time, the number of cases closed overtook the number of new cases. This was due to the introduction of an administrative inquiry approach to level three (least serious) cases to streamline responses to low complexity cases, which was adopted across all regions. In addition to closing more cases than the previous year, we also improved our investigation times. Level one investigation times decreased from 84 to 66 days, , and level two investigation times decreased from 66 to 61 days. However, level three investigation times increased from 70 to 81 days , primarily owing to the large numbers of such cases.

Allegations in 45% of cases closed in 2023 were substantiated. This is an increase of 37% compared with 2022 and may be attributed in part to the increase in total cases closed during the year.

The three most common subjects of concern in all substantiated cases were Save the Children International staff, staff employed by our partners, and adult community members. Overall last year, the involvement of Save the Children staff in substantiated cases increased by 65%, underlining the importance of our action plan on integrity, ethics, and risk.

Of the 1,012 cases closed in 2023, 80 cases had an unrecoverable loss identified at the end of the investigation, totalling $441,236. The single highest unrecoverable loss was $93,347 and occurred due to cheque fraud by a staff member in our Syria response office. In 2024, we will continue our counter-fraud efforts and will roll out our first ethics programme. This will help us connect our core values, including integrity, to our day-to-day behaviours, and strengthen our fraud prevention efforts.

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COUNTER FRAUD 61

Types of fraud 2021-23

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408
Programming 423
321
182
Supply-chain 152
99
131
Human resources 124
62
82
Not yet classified 33
2
72
Fraud by misrepresentation 56
65
14
Bribery 32
27
1
Theft 1
3
Non-fraud loss 52
42 2023 2022 2021
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Cases of fraud in 2023 by region

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West and Central Africa 18 28 118 11
Middle East and Eastern Europe 26 54 126 17
Latin America and the Caribbean 5 67 82 2
East and Southern Africa 19 67 117 15
Asia 14 62 144 14
Level 1 Level 2 Level 3 Safety and Security Incident (No Triage)
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SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

62

~~“In my view the big countries should think seriously about climate change because sea level rise is destroying us.”~~

George, 15, Solomon Islands

LOOKING AHEAD

2024 is the third and final year of our three-year strategy that sees us working to achieve the goal targets set out on pages 16-29. Our three-year strategies are designed to accelerate our progress towards the breakthroughs we want to see by 2030.

We know our strategic direction remains relevant but our approach must evolve, so we are in the process of reconfirming our current global strategy and country strategies for another three years, while updating them where necessary.

We will:

These updates reflect the changes we have seen and lessons we have learned over the last three years.

Our collective priorities for 2024 will see us step up our progress in key areas of the strategy.

We will strengthen our focus on children most impacted by inequality and discrimination. We will assert our position that the climate crisis is a child right’s crisis and strengthen child participation in support of children’s rights, and in promoting accountability to children.

We will embed digital and data to measure impact, drive evidence-based decision making, and support fundraising.

We will continue to realise the equitable partnership approach, through simplifying compliance and strengthening strategic partnerships to amplify impact.

We will also strengthen our focus on people and talent to improve diversity, equity, and inclusion across the organisation, developing our leaders so that they have the skills and confidence to further our agenda and build an inclusive and compassionate culture.

We also intend to grow unrestricted income through longterm investment and by creating a best-in-class experience for our supporters. Through flexible funding mechanisms, we can achieve our best work for and with children, together with our local and national partners.

We will also champion a change programme to make Save the Children fit for future with a focus on reforms to shore up our financial sustainability and become a stronger, locally led, globally connected movement.

Our report next year will summarise progress across the 2022–24 strategy period as well as summarising our plans for 2025–27. Children’s rights are being increasingly threatened. We will continue to work relentlessly to respond to those threats and champion children’s rights around the world.

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STRUCTURE, GOVERNANCE, AND MANAGEMENT 63

STRUCTURE, GOVERNANCE, AND MANAGEMENT

ORGANISATIONAL STRUCTURE

Save the Children International is a UK company limited by guarantee (not having share capital) and a registered charity in England and Wales, governed by its Articles of Association as last amended on 7 July 2020.

It is registered with Companies House and the Charity Commission and must comply with the Companies Act 2006 and Charities Act 2011.

Save the Children International’s sole member is Save the Children Association, a Swiss Association formed pursuant to articles 60–79 of the Swiss Civil Code.

Save the Children International had seven wholly owned subsidiaries at 31 December 2023, details of which are given in the financial statements.

BOARD OF TRUSTEES

Save the Children International’s Board of trustees mirrors the Board of Save the Children Association.

The Save the Children International Board consists of:

The trustees delegate the day-to-day running of the charity to the Chief Executive Officer and the Senior Leadership Team, who are responsible for different functions of the charity.

The Chief Executive Officer reports to the Chair of the Board. Details of the Senior Leadership Team are listed on page 68).

BOARD COMMITTEES

The Board has four standing committees which meet quarterly and whose members are appointed by the Board. These are:

In addition, the Board has a Nominations Committee which meets as required and has members appointed by the Board and by members of Save the Children. This Committee oversees Board recruitment, selection, and appointment.

Committee activity is reported to the Board at each formal meeting.

Details of the Board of Trustees are listed on page 68).

BOARD INDUCTION

The Save the Children International Board oversees the management of the business of the charity and exercises, directly or through delegation, all the powers of the charity.

The Board seeks to ensure that all activities are within relevant laws and agreed charitable purpose. Its work includes oversight of, and agreeing the financial plan for, international programmes.

On appointment to the Board, trustees are provided with an induction pack including information on the structure and governance of Save the Children International, the roles and responsibilities of trustees, guidance from the Charity Commission, and ways of working, strategic documents, and key policies.

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Trustees also undertake an induction programme which includes meetings with Senior Leadership Team members, a range of mandatory training programmes, including child safeguarding and, where possible, visits to our programmes.

CHARITY GOVERNANCE CODE

Good governance involves continuous improvement. Therefore, we have a number of initiatives underway to ensure Save the Children International’s governance continues to evolve to best support us in delivering impact for children.

As previously reported, the principles of good governance contained within the Charity Governance Code underpin Save the Children International’s governance framework and form an integral part of the programme of change underway.

In accordance with the Code’s recommendation that large charities review their performance annually, the Governance Committee led a Board effectiveness review in Q4 2023, with advice from governance consultants, Campbell Tickell.

The Board effectiveness review considered the performance of the Board and individual trustees and reflected on overall adherence to the principles of good governance. Interviews were held with each trustee. Overall, the review found the Board was working well and was effective in delivering on its fiduciary duties. The review made several recommendations to support continuous improvement which will be implemented in 2024.

In addition, and as recommended by the review in 2022, a review of the remit and membership of the Board committees was carried out. Terms of reference were updated for the Finance Committee, Audit and Risk Committee, and the Governance Committee and membership was refreshed across all five committees.

WORKING WITH OUR STAKEHOLDERS

Our trustees have a duty to promote the success of the charity for the public benefit and to achieve its charitable aims and objectives.

Public Benefit

In considering public benefit, the trustees take into account the Charity Commission’s general guidance on public benefit in relation to the prevention and relief of poverty, the advancement of education and health and the relief of those in need.

of the Companies Act 2006. These include (1) the likely consequences of any decision in the long term, (2) the interests of our employees, (3) the need to foster business relationships with our suppliers and others, (4) the impact of our operations on the community and environment, and (5) the desirability of the charity maintaining a reputation for high standards of business conduct.

In the table on pages 66-67 we have illustrated how these factors have been considered and how we have engaged with our main stakeholders to build and sustain our business relationships.

VENTURE PARTNERS AND VOLUNTEER INVOLVEMENT

Last year we continued to benefit from ongoing strategic partnerships, including with:

We would like to thank all our partners, volunteers, staff, interns, secondees and supporters for their continuing contributions, which are invaluable in realising our ambitions for children.

AUDITOR

KPMG LLP has been appointed for the next financial year in accordance with Section 487(2) of the Companies Act 2006 unless the company receives notice under Section 488(1) of the Act.

The Audit and Risk Committee oversees the charity’s monitoring of external auditor objectivity and independence in relation to non-audit services. The auditor is excluded from undertaking a range of work on behalf of the charity to ensure that the nature of non-audit services performed or fee income relative to the audit fees does not compromise, or is not seen to compromise, the auditor’s independence, objectivity or integrity.

The trustees believe there is clear public benefit derived from the activities of the charity.

s172 of the Companies Act 2006

In considering the promotion of the success of the charity to achieve its charitable aims and objectives, the trustees take into account the specific factors outlined in s172

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STRUCTURE, GOVERNANCE, AND MANAGEMENT 65

Statement of responsibilities of the trustees of Save the Children International in respect of the trustees’ annual report and the financial statements.

The trustees are responsible for preparing the trustees’ report (incorporating the strategic review and the directors’ 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 they are required to prepare the group and parent company financial statements in accordance with UK Accounting Standards and applicable law (UK 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 group and charitable company and of the group’s excess of expenditure over income for that period. In preparing each of the group and charitable company financial statements, the trustees are required to:

In so far as the trustees are aware:

The trustees, in their capacity both as trustees and company directors, have reviewed and approved the trustees’ report, which incorporates the directors’ report and the requirements of the strategic review as set out in the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013.

APPROVAL OF THE TRUSTEES’ REPORT

The Trustee’s Report was approved by the Board of Trustees on 19 November 2024

Signed on behalf of the Board of Trustees by:

21/11/2024

Angela Ahrendts

Chair of the Board of Trustees

Save the Children International St Vincent House 30 Orange Street London WC2H 7HH UK

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 its financial statements comply with the Companies Act 2006. They are responsible for such internal controls as they decide are necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the group and to prevent and detect fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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----- Start of picture text -----
More information &
Factors our trustees consider when making decisions
examples for 2023
The likely Our global strategy is designed to achieve long-lasting, positive change for children. Our movement-wide
consequences of Our trustees oversee our performance against the strategy and receive quarterly reports on operational and 2022–2024 Global Strategy
any decision in the financial performance and outlook and track our key performance indicators. They consider emerging and (page 9)
long- term known risks and their potential to impact the achievement of our strategic goals.
Our results and impact (from
In 2024, our fit for the future change programme will focus on the long-term sustainability of our organisation page 13)
to ensure we are best set up to achieve our ambition for children
The interests of We want our people to feel valued, empowered, and motivated to achieve change for children. We have several Our people (page 46)
our people initiatives in place to ensure our staff’s voices are heard and that they are supported and protected in their
roles.
• Regular anonymised ‘Share your view’ all staff surveys.
• Our Employee Forum, DEI Staff Council, and a range of staff networks are consulted on staff initiatives and
diversity, equity, and inclusion matters.
• Formal systems in place to encourage learning and develop performance.
• Zero tolerance for harassment and bullying.
• Staff wellbeing initiatives including a confidential staff hotline and a Mental Health Champions programme.
The need to foster Our key stakeholders are children and their communities, the members of the Save the Children movement, Shifting power to children
relationships our partners and suppliers. (page 45)
with our key Children and their communities Upholding children’s rights
stakeholders We are a children’s rights organisation, and through our work we are shifting power to children to ensure their (page 35)
voices are heard. Please see more on this in
We have systems in place to ensure children’s rights are at the centre of our programmes and to mandate our our Accountability Report.
accountability to the children and communities we work with.
Advocate, campaign,
We consult with children to understand their needs, to support them to hold decision-makers to account, mobilise (page 44)
and to organise with civil society to monitor and report on child rights in their countries.
Our advocacy work (page
Our Global Children’s Advisory Board provides direct insight from children and young people to shape our 38)
work. Our operations (page 41)
• Our trustees met with Generation Hope child campaigners from Nepal, Zambia, and Bangladesh to hear Safeguarding (pages 58-59)
directly from them about the issues important to them. and counter-fraud (pages
We also have extensive safeguarding systems in place to protect the children and communities we work with. 60-61)
Save the Children Movement
• SCI operates as part of a global Save the Children movement, united by a shared strategy for children. We
have created governance structures to ensure Board decision-making is informed by our global movement.
These include:
• Our Management Committee - a group of Member CEOs, led by the SCA/ SCI CEO working together to
provide strategic executive leadership to the Movement.
• All Member CEOs’ and ‘All Member Board Chairs’ groups that are consulted on Movement issues and
initiatives.
• Functional groups (such as the Humanitarian Steering Group) that work together to align specific areas of
our work across the movement.
SCI participates in an annual assessment of compliance with our global Mutual Accountability Protocol which sets
out commitments expected of the Save the Children Members. This connects the charity to our global movement
through transparency and mutual accountability and promotes a shared culture of best practice.
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STRUCTURE, GOVERNANCE, AND MANAGEMENT 67

----- Start of picture text -----
More information &
Factors our trustees consider when making decisions
examples for 2023
The need to foster Partners
relationships We work with non-governmental organisations, governments, and others to advocate for and support
with our key governments to raise and spend more money, fairly, and transparently to fulfil children’s rights.
stakeholders We collaborate strategically with diverse public and private sector organisations and pursue projects
( cont .) that prioritise co-creation and create complementary value.
We strive for equitable relationships with our partners that will lead to better outcomes for children.
Suppliers
Our trustees are mindful of ensuring we maintain good relationships with our suppliers to deliver good
value and expertise to enable us to achieve our strategy.
Our Sustainability Policy articulates our values and the ways in which we ask our suppliers to work with
us in realising them.
Our incident reporting mechanisms allow suppliers to communicate directly with us about issues relating
to our ethical standards and values.
Our procurement and supplier management system and central procurement team ensures we manage
our relationships with suppliers efficiently and effectively.
The impact of our The impact of our work on children and their communities and the environment is central to the decisions Our Operations (page 41)
operations on the taken by our Board. Supporting children to anticipate and respond to threats from climate change is a key
community and component of our strategy.
environment Our climate crisis internal child-centred framework for action helps guide the design and implementation
of child-centred climate action across all our strategic goals.
Our Environmental Sustainability and Climate Change Policy addresses key aspects of sustainability, including
environmentally responsible supply chains, energy and carbon management and -screening our programs
to ensure they are not harmful to the environment.
Our Renewable Energy Unit provides technical standards and best practices for countries implementing
renewable energy systems.
We have strengthened our processes to monitor, manage, and report upon our carbon emissions and climate
risks and have reported our global carbon emissions as part of this report.
The desirability We are committed to holding ourselves accountable for the promises we make to our supporters, partners, Our Accountability Report.
of maintaining staff, and most of all, children. Our Modern Slavery Report.
a reputation for We are committed to ensuring our work is transparent, as evidenced by the governance and performance
high standards of reports on our website, and by encouraging others – especially children - to hold us to account.
business conduct
For example, our Modern Slavery Report details our work to ensure our ethical values are adopted throughout
our supply chains.
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ADMINISTRATIVE DETAILS

TRUSTEES DURING 2023 AND AS AT DATE OF APPROVAL OF THE REPORT

Abhishek Agrawal (from 12 September 2024) Angela Ahrendts (Chair) Rolake Akinkugbe-Filani Roy Caple (Vice Chair) Tsitsi Chawatama-Kwambana (until 1 August 2023, and from 16 October 2024) Anne Fahy (until 16 October 2024) Debra Fine (Vice Chair) (until 27 June 2024) Anne Gates (from 22 February 2023) Robert Good Lars Heikensten Bradley Irwin Larry Kamener Deepak Kapoor Jon Lomoy Elizabeth Lule (until 1 March 2024) Teresa Mbagaya Margaret McGetrick Winnie Mpanju-Shumbusho (from 12 September 2024) Raffaele Salinari (from 12 September 2024) Claudio Tesauro (until 12 September 2024) Richard Winter (from 1 August 2023) Dona Young (until 22 February 2023)

BOARD COMMITTEES

Audit and Risk Committee

Rolake Akinkugbe-Filani (from 1 August 2023) Anne Fahy (until 1 August 2023) Debra Fine (until 27 June 2024) Anne Gates (from 1 May 2023) Margaret McGetrick (Chair) Dona Young (until 22 February 2023) Richard Winter (from 1 August 2023)

Finance Committee

Richard Winter (from 1 August 2023)

Governance Committee

Roy Caple Anne Gates (from 22 February 2023) Robert Good (Chair) Lars Heikensten (from 26 May 2023) Larry Kamener (until 1 September 2023) Jon Lomoy Claudio Tesauro (until 12 September 2024) Dona Young (until 22 February 2023)

People and Organisation Committee

Rolake Akinkugbe-Filani (from 1 September) Roy Caple (Chair) Bradley Irwin Elizabeth Lule (until 1 March 2024) Teresa Mbagaya

SENIOR LEADERSHIP TEAM DURING 2023

Inger Ashing Chief Executive Officer Anita Bay Global Policy, Advocacy & Campaigns Director (interim until 1 May 2023) Kate Brown Chief People Officer (from 24 April 2023) Clare Canning General Counsel Rotimy Djossaya Executive Director, Global Policy, Advocacy & Campaigns (from 1 May 2023) Patrick Hayden Deputy CEO, Chief Strategy Officer (from 24 July 2023) Michael Koutstaal Chief Transformation Officer Clare Rodger Executive Director, Resource Mobilisation, Communications and Engagement Ebrima Saidy Chief Impact Officer Sam Sharpe Chief Financial Officer David Wright Chief Operating Officer, Programme Delivery Senait Zenebe Chief People Officer (interim until 24 April 2023)

Rolake Akinkugbe-Filani (until 1 August 2023) Anne Fahy (until 1 August 2023) Debra Fine (until 27 June 2024) Bradley Irwin Larry Kamener (from 1 September 2023) Deepak Kapoor (Chair) Margaret McGetrick (until 1 August 2023)

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ADMINISTRATIVE DETAILS 69

Company Secretary

Tricia Owens

Registered office

St Vincent House 30 Orange Street London WC2H 7HH

Registered number 3732267

Registered charity number 1076822

Principal bankers Barclays Bank Plc 1 Churchill Place Canary Wharf London E14 5HP

EcoBank EBI SA, Representative Office 2nd Floor, 20 Old Broad Street London EC2N 1DP

Standard Bank Plc 20 Gresham Street London EC2V 7JE

Standard Chartered Bank 1 Basinghall Avenue London EC2V 5DD

Citibank N.A 388 Greenwich Street, New York, NY 10013

JP Morgan Chase Bank N.A New York, NY 10017

Auditor

KPMG LLP 15 Canada Square Canary Wharf London, E14 5GL

Tax Advisors

Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW

Legal Advisors

Freshfields Bruckhaus Deringer 100 Bishopsgate London EC2P 2SR

Coupa Treasury system Quality Assurance Advisors

Deloitte GmbH Wirtschaftsprüfungsgesellschaft Rosenheimer Platz 4 81669 München Germany

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SAVE THE CHILDREN INTERNATIONAL

Opinion

We have audited the financial statements of Save the Children International (“the charitable company”) for the year ended 31 December 2023 which comprise the consolidated statement of financial activities, consolidated and charity balance sheet, consolidated cash flow statement and related notes, including the accounting policies in note 1.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the group in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The trustees have prepared the financial statements on the going concern basis as they do not intend to liquidate the group or the charitable company or to cease their operations, and as they have concluded that the group and the charitable company’s financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over their ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”).

In our evaluation of the trustees’ conclusions, we considered the inherent risks to the group’s business model and analysed how those risks might affect the group and charitable company’s financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the group or the charitable company will continue in operation.

Fraud and breaches of laws and regulations – ability to detect

Identifying and responding to risks of material misstatement due to fraud

To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit. This included communication from the lead to participating audit teams of relevant fraud risks identified at the Group level and request to participating audit teams to report to the lead audit team any instances of fraud that could give rise to a material misstatement at group.

As required by auditing standards, and taking into account possible pressures to meet internal key performance indicators and our knowledge of the control environment, we perform procedures to address the risk of management

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override of controls, in particular the risk that Group and branch management may be in a position to make inappropriate accounting entries. On this audit, we do not believe there is a fraud risk related to revenue recognition as the majority of income is received from Save the Children members in line with the all-member agreement.

We also identified fraud risks related to cash and inventory management in response to the environment in which the Group operates, which increases the risks surrounding the control of assets. In addition, we identified a fraud risk related to working with partners and working in a decentralized control environment, as it makes monitoring and oversight of activities and controls more challenging. Lastly, we have identified a risk of fraud around the manipulation of manual non-payroll accruals to meet budget targets.

We performed procedures including:

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience through discussion with the Trustees and other management (as required by auditing standards). We discussed with the Trustees and other management the policies and procedures in place regarding compliance with laws and regulations.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. This included communication from the lead to participating audit teams of relevant laws and regulations identified at the Group level, and a request for participating auditors to report to the lead

audit team any instances of non-compliance with laws and regulations that could give rise to a material misstatement at group.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies’ legislation and the charity SORP) and local tax regulations. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Group is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, antibribery, data protection laws, employment law, and certain aspects of charitable company legislation, recognising the nature of the Group’s activities and its legal form. Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Context of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

Other information

The trustees are responsible for the other information, which comprises the Trustees’ and strategic report. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

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Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work:

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report to you if, in our opinion:

We have nothing to report in these respects.

Trustees’ responsibilities

As explained more fully in their statement set out on page 65, 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; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the group’s and the 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 they either intend to liquidate the group or the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor’s report. Reasonable assurance is a high level of assurance but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

25/11/2024

Joanne Lees (Senior Statutory Auditor) for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants 15 Canada Square London E14 5GL

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73

~~“I like to play.”~~ Kazy, 8, Madagascar

A portrait of Kazy, 8, going to school, in the South of Madagascar

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 74 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT)

2023 2023 2023 2022 2022 2022
Notes Unrestricted Restricted Total Unrestricted Restricted Total
USD 000s USD 000s USD 000s USD 000s USD 000s USD 000s
Income from donations
Grants and other donations 43,793 1,388,765 1,432,558 46,771 1,452,768 1,499,539
Gifts in kind 2 (c) 2 91,167 91,169 509 89,263 89,772
Total income from donations 2 (a) 43,795 1,479,932 1,523,727 47,280 1,542,031 1,589,311
Income from investments 2 (d) 12,235 93 12,328 3,687 183 3,870
Other income 2 (e) 2,010 1,609 3,619 2,487 1,254 3,741
Total incoming resources 58,040 1,481,634 1,539,674 53,454 1,543,468 1,596,922
Expenditure on raising funds 50 1,843 1,893 5 1,168 1,173
Expenditure on charitable activities
Healthy start in life 14,975 557,595 572,570 8,570 579,364 587,934
Safe back to school and
learning		 13,672 397,242 410,914 11,748 388,498 400,246
Live free from violence 17,169 260,771 277,940 14,441 219,929 234,370
Safety nets and resilient
families		 3,795 280,453 284,248 5,266 283,386 288,652
Total expenditure on charitable activities 3 (a) 49,611 1,496,061 1,545,672 40,025 1,471,177 1,511,202
Total outgoing resources 3 (a) 49,661 1,497,904 1,547,565 40,030 1,472,345 1,512,375
Net (outgoing)/incoming resources for
the year		 8,379 (16,270) (7,891) 13,424 71,123 84,547
Transfers between funds 15 (22,640) 22,640 - 6,899 (6,899) -
Funds brought forward 15 81,312 135,983 217,295 60,989 71,759 132,748
Total funds carried forward 15 67,051 142,353 209,404 81,312 135,983 217,295

All gains and losses recognised in the financial year are included above. There is no difference between the net incoming resources before other recognised gains and losses above and the historical cost equivalent. All activities are continuing. The charity uses the exemption conferred by section 408 of the Companies Act 2006 in not preparing a separate income and expenditure account for the charity as a separate entity. The group structure is explained in note 16 and net outgoing resources for the charity alone for the year ended 31 December 2023 were USD 6,279,492 (2022: net incoming resources of USD 87,062,972). The accompanying notes on pages 77 to 97 form part of these financial statements.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 75

CONSOLIDATED AND CHARITY BALANCE SHEET AS AT 31 DECEMBER 2023

2023 2023 2022 2022
Group Charity Group Charity
Notes USD 000s USD 000s USD 000s USD 000s
Fixed Assets
Tangible fxed assets 5a 8,882 8,370 7,392 6,937
Intangible fxed assets 5b 23,903 23,903 22,191 22,191
32,785 32,273 29,583 29,128
Current assets
Stock 6 29,405 28,448 29,954 29,232
Debtors 7 187,082 188,602 221,738 220,826
Investments 8 563 563 49,756 49,756
Cash at bank and in hand 9 284,363 282,242 250,857 247,906
501,413 499,855 552,305 547,720
Current liabilities
Creditors: amounts falling due within one year 10 (265,634) (263,624) (306,134) (302,547)
Net current assets 235,779 236,231 246,171 245,173
Provisions 11 (59,160) (57,133) (58,459) (56,612)
Provisions and long term liabilities (59,160) (57,133) (58,459) (56,612)
Total net assets 209,404 211,371 217,295 217,689
Unrestricted funds
General funds 8,509 8,509 8,861 8,861
Designated funds 58,542 58,031 72,451 71,997
Total unrestricted funds 15 67,051 66,540 81,312 80,858
Restricted funds 15 142,353 144,831 135,983 136,831
Total funds 15 209,404 211,371 217,295 217,689

The notes on pages 77 to 97 form part of these financial statements.

Approved by the board of trustees and signed on its behalf by:

21/11/2024 22/11/2024

Angela Ahrendts Chair of the Board of Trustees Save The Children International

Margaret McGetrick Chair of the Audit and Risk Committee Save the Children International

Company registration number: 3732267

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 76 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
USD 000s USD 000s
Cash fows from operating activities
Net (outgoing)/incoming resources for the year (7,891) 84,547
Depreciation 7,881 6,215
Interest receivable and similar income (12,328) (3,870)
Net cash outfow from deconsolidation of National Offces - 591
Gains on disposal of tangible fxed assets (1,330) (1,796)
Decrease/(increase) in stocks of gifts in kind 3,010 (903)
Total cash fows from operating activities (10,658) 84,784
Decrease/(increase) in debtors 34,656 (60,705)
Increase in stocks of purchased goods (2,461) (4,851)
Increase in carrying value of associated companies (157) (11)
(Decrease)/increase in creditors (40,500) 33,114
Increase/(decrease) in provisions 701 (2,109)
Net cash from operating activities (18,419) 50,222
Cash fows from investing activities
Payments to acquire fxed assets (11,685) (9,342)
Net cash outfow from deconsolidation of National Offces - (591)
Net disposal/(acquisition) of short term deposit investments 49,350 (49,526)
Proceeds from the sale of assets 1,932 2,011
Interest received 12,328 3,870
Net cash from investing activities 51,925 (53,578)
Net cash fows for the year ended 31 December 33,506 (3,356)
Change in cash and cash equivalents in the fnancial year
Cash and cash equivalents at the beginning of the fnancial year 250,857 254,213
Net cash fows for the fnancial year 33,506 (3,356)
Cash and cash equivalents at the end of the fnancial year 284,363 250,857
represented by:
Cash at bank and in hand 284,363 250,857
Total cash and cash equivalents 284,363 250,857

Save the Children International uses the exemption conferred by section 1.12 of FRS 102 in not preparing a separate cash flow statement for the charity as a separate entity. The accompanying notes on pages 77 to 97 form part of these financial statements.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 77

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

(d) Company status

1. ACCOUNTING POLICIES

(a) Basis of accounting

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) applicable in the UK and Republic of Ireland published in October 2019. All income and expenditure relates to continuing operations. The financial statements have been prepared on a going concern basis. The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant accounting policy note. The presentation currency of these financial statements is US Dollars. All amounts in the financial statements have been rounded to the nearest $1,000.

(b) The financial statements have been prepared on a going concern basis, which the trustees consider to be appropriate for the following reasons. The trustees have prepared cash-flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that, considering reasonably possible downsides on our operations and its financial resources, the Group and Charitable Company will have sufficient funds to meet its liabilities as they fall due for that period.

Save the Children International has:

(c) Basis of consolidation

The group accounts incorporate those of the wholly owned subsidiaries and associate of the charity as detailed in note 16 to the financial statements. The results of each subsidiary are consolidated on a line by line basis. The associates are valued as Save the Children International’s shareholding of the value of the net assets of the company as at 31 December 2023 and is included in the investments on the consolidated and charity balance sheet.

Three former Country Offices which have transitioned to National Offices are now seperately managed and controlled entities and as such these three entities are not consolidated into the financial statements.

Save the Children Global Ventures was incorporated in 2023. Save the Children International holds 20% of the voting rights of the board and therefore deems to hold significant influence over the activities and direction of the company and in turn has been recognised as an associate.

The charity is a company limited by guarantee, not having share capital. Save the Children International’s sole member is Save the Children Association, a Swiss Association formed pursuant to articles 60-79 of the Swiss Civil Code. The trustees of Save the Children International are named on page 68. The Charity is a Public Benefit Entity as defined in FRS 102.

(e) Income recognition

Income is recognised in the financial year in which Save the Children International is legally entitled to the income, receipt of funds is probable and the amount can be measured with sufficient reliability. For grant income and other donations, entitlement has been deemed triggered at the point Save the Children International raises a claim to the funder, where there are not specific performance conditions. Where there are specific performance conditions, income is recognised when those conditions have been met. The member contribution agreement does not have any performance conditions and therefore income received from members is recognised upon claim.

In cases where, by agreement with the Save the Children member, funds are received in advance of programme activity, income is recognised upon receipt of the funds.

All other grant income from Save the Children Association is recognised when entitlement falls due, at the point this is mutually agreed between both entities and is communicated.

All other sources of income are recognised as entitlement falls due in accordance with contractual agreements.

(f) Gifts in kind

Gifts in kind donated for distribution by country programmes (such as food, clothing and medical supplies) are recognised at fair value on receipt based on external donor valuation. Income is recognised when gifts in kind are received. Any donated delivery costs are recognised as income and expenditure on receipt of the goods where the valuation from the donor is available. Expenditure is recognised when gifts in kind are released from the warehouse to be distributed to the projects and any undistributed amounts are recognised on the balance sheet as stock. Gifts in kind for pro bono services are valued either at market value or, where this is not available, an appropriate estimate of the value to the charity is made. Services donated by members are valued at cost. In preparing these accounts no value has been attributed to the work performed by volunteers in accordance with the SORP.

(g) Stock

Undistributed balances of goods donated for distribution and goods acquired for distribution are recognised as stock. Stock is held lower of cost (for purchased stock) / fair value (for donated stock) and the net realisable value. When goods or services are provided as part of a charitable activity, then net realisable value should be based on the service potential provided by the items of stock. Stock is considered for impairment/net realisable value only when damaged or obsolete.

(h) Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Expenditure is charged inclusive of any irrecoverable taxation.

A sizable proportion of the programme work of Save the Children International is undertaken by making grants to operational partners who perform the work on the ground and report back to Save the Children International on the work they have done. Save the Children International recognises the expenditure on these grants when payment is due to the partner organisation in accordance with the terms of the agreement. Standard partner agreements are typically for a year’s duration but can span several years.

Support costs which include the central and regional office functions such as general management, payroll administration, budgeting and accounting, human resources, information technology, legal compliance and trustees costs are allocated across the categories of charitable activities. The basis for the cost allocation is explained in note 3c to the accounts.

Fintech for International Development Ltd was dissolved in the year ended 2023 and therefore Save the Children International has derecognised the related investment on its balance sheet in the year. Save the Children International held 11% of the equity.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 78 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

(i) Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the charity is exempt from taxation in respect of income and capital grants received within categories covered by Chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. The charity and its subsidiary, The Save the Children Alliance Trading Limited, have a group registration for VAT. Country offices are subject to local tax legislation.

Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activity (SOFA) when the expenditure to which it relates is incurred, and is allocated as part of the expenditure to which it relates.

(j) Foreign currencies

The functional currency of Save the Children International is US Dollars. The exchange rate to Sterling at 31 December 2023 was 1.27 (31 December 2022: 1.22).

Where Save the Children International has entered into forward contracts for the purchase of foreign currencies, expenditure in those currencies covered by the forward contract are translated into US Dollars at the forward contracted rate. Transactions denominated in other currencies are translated at the rate of exchange at the time of the transaction.

Material foreign currency balances are translated at the rate of exchange prevailing at the balance sheet date. Foreign currency gains and losses are included in the SOFA against the expenditure for the financial year in which they are incurred.

(k) Financial instruments

Financial assets and financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs). Financial instruments including forward currency contracts and currency swap arrangements are included in the financial statements at a fair value at the balance sheet date and are recognised at their un-hedged amounts. As the contracts manage general exchange risk, hedge accounting is not used and the contracts are included in the balance sheet at fair value (as either debtors or creditors), with gains/losses recognised in the statement of financial activities. The value is included within current assets or current liabilities unless the financial instrument is for a period of greater than 1 year. All financial instruments at the 31st December 2023 were for a maturity date of less than one year.

(l) Debtors

Trade and other debtors are recognised at the settlement amount due.

(m) Fixed assets

Fixed assets are stated at cost less depreciation. Depreciation is provided on a straight line basis on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life. Intangible assets are held on the balance sheet at cost less accumulated amortisation and impairment losses. Computer software, including development costs, is capitalised as an intangible asset and amortised on a straight-line basis over the expected useful life of five years from when the assets are available for use. Useful life of assets are as follows:

Motor vehicles 5 years
Computer software 5 years
Furniture, equipment and fxtures 5 years
Freehold property 25-50 years
Leasehold property Shorter of 10 years and lease term

(n) Leased assets and obligations

Where assets are financed by operating lease agreements, the lease rentals are charged to the income and expenditure account over the life of the lease on a straight line basis.

(o) Pensions

The pension costs charged in the financial statements represent the contributions payable by the company to the defined contribution schemes during the financial year.

(p) Provisions

Provisions for future liabilities are recognised when the charity has a legal or constructive financial obligation, that can be reliably estimated, and for which there is an expectation that payment will be made.

(q) Fund accounting

General funds are unrestricted funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is explained in the notes to the financial statements. Please see note 15 for details. Restricted funds are funds that are to be used in accordance with the specific restrictions imposed by donors. The costs of administering such funds are charged against the specific fund in line with the donor agreements. The aim and use of each restricted fund is set out in note 15.

(r) Investments

Short term deposits maturing in less than one year are recorded within current assets. Where they mature in less than 3 months, they are considered cash equivalents within the Cash Flow Statement as they are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. The expected maturity of these investments is shown in note 8. Other investments are recorded at a fair market value where such a value can be reliably measured, otherwise they are recorded at cost.

(s) Creditors

A liability is recognised for the amount that the group anticipates it will pay to settle the debt or the amount it has received as an advance payment for goods or services it must provide.

(t) Accounting estimates and key judgements

No critical accounting estimates or judgements have been made as at the balance sheet date 31 December 2023.

(u) Contigent assets

A contingent asset is a possible asset that arises from a past event but is not recognised in the balance sheet as its existence can only be confirmed by future events which are not within the charity’s control. Contingent assets are disclosed when their existence is probable.

(v) Contigent liabilities

A contingent liability is either a possible but uncertain obligation or a present obligation that is not recognised because a transfer of economic benefit to settle the possible obligation is not probable; or the amount of the obligation cannot be estimated reliably. Contingent liabilities are disclosed unless the possibility of their existence is remote.

The charity does not capitalise assets purchased as part of international programme grant expenditure, nor individual expenditure items below USD 5,000.

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.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 79

2. INCOME

(a) Income from donations

(a)Income from donations
2023 2023 2023 2023 2022
Grants and Gifts in Kind Gifts in kind
other donations donated services donated goods Total Total
USD 000s USD 000s USD 000s USD 000s USD 000s
Amounts received directly from Save the Children member organisations
Australia 15,649 1,397 819 17,865 16,935
Canada 34,298 1,307 568 36,173 36,723
Denmark 48,036 428 136 48,600 51,424
European Union - 329 - 329 269
Finland 24,222 2 656 24,880 28,228
Germany 58,133 54 - 58,187 60,269
Hong Kong 8,958 162 - 9,120 7,965
Indonesia - 133 - 133 116
Italy 79,350 - 134 79,484 76,358
Japan 11,605 5 - 11,610 9,597
Korea 27,717 94 - 27,811 27,045
Netherlands 39,926 569 138 40,633 43,944
New Zealand 2,298 52 - 2,350 3,065
Norway 105,327 779 - 106,106 108,166
Philippines - 531 - 531 610
Spain 23,131 2 422 23,555 21,108
Sweden 89,769 838 419 91,026 103,238
Switzerland 14,971 46 288 15,305 14,434
United Kingdom 177,972 2,199 5,600 185,771 196,177
United States 572,518 9,917 19,830 602,265 699,760
Total amounts received directly from members 1,333,880 18,844 29,010 1,381,734 1,505,431
Other amounts
Save the Children Association - Core fund 23,239 - - 23,239 20,377
Save the Children Association - Strategic Investment Fund 16,745 16,745 17,241
Save the Children Association - other funds 11,636 11,636 8,480
Donated services received from National offces - 371 371 304
Professional services directly provided to Save the Children International 10,400 - 10,400 10,454
Direct grants and donations in Save the Children International
country programmes		 44,536 - 30,199 74,735 25,347
Transport of goods provided by donors 2,383 2,383 1,677
Other grants and donations 2,522 38 (76) 2,484 -
Total other amounts 98,678 13,192 30,123 141,993 83,880
Total income from donations 1,432,558 32,036 59,133 1,523,727 1,589,311

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 80 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

(b) Income from major institutional donors

Income received directly from members includes amounts originating in grants (including gifts in kind) from the following major institutional donors, including governments and multi-national agencies.

2023 2022
USD 000s USD 000s
United States Agency for International Development / Bureau of Humanitarian Assistance 350,877 313,813
Global Fund to Fight AIDS, TB and Malaria 49,965 70,751
European Civil Protection and Humanitarian Aid Operations (European Commission) 40,194 52,216
World Food Programme 37,206 55,364
Swedish International Development Cooperation Agency 35,709 42,032
Education Cannot Wait 28,319 51,866
International Cooperation and Development (European Commission) 25,767 39,277
Global Affairs Canada 24,318 30,612
Global Partnership for Education Fund - World Bank 21,832 32,650
United Nations Offce for the Co-ordination of Humanitarian Affairs 19,930 31,493
Disaster Emergency Committee 19,504 34,208
United Nations Children’s Fund 18,730 22,130
Norwegian Agency for Development Cooperation / Norway Ministry of Foreign Affairs 17,822 24,928

In addition to these amounts, Save the Children members receive income from these donors for national programming and to fund other costs incurred. Total income received by Save the Children members from these donors is shown in the relevant members’ financial statements. Income recorded in Save the Children International’s financial statements and those of Save the Children members is subject to differences in the timing of income recognition.

(c)Gifts in kind 2023 2022
USD 000s USD 000s
Donated services
Professional services 10,400 10,455
Services donated by members 19,253 9,438
Transport of goods provided by donors 2,383 1,677
Total donated services 32,036 21,570
Donated goods
Food aid 28,921 39,463
Pharmaceutical supplies 24,099 22,843
Other supplies 6,113 5,896
Total donated goods 59,133 68,202
Total gifts in kind 91,169 89,772

Save the Children International received benefits in the form of volunteers during 2023. The income from gifts in kind does not include a valuation for these benefits.

(d)Income from investments and short term deposits 2023 2022
USD 000s USD 000s
Bank interest 5,659 1,506
Interest and gains on short term deposits 6,553 2,224
Other interest 116 140
Total income from investments 12,328 3,870
(e)Other income 2023 2022
USD 000s USD 000s
Sales of assets 1,932 2,012
Rental income 202 162
Other income 1,485 1,567
Total other income 3,619 3,741

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 81

3. EXPENDITURE

(a)Analysis of total expenditure Grants and
payments to Other direct Apportionment 2023 2022
Staff costs partners Gifts in kind costs of support costs Total Total
USD 000s USD 000s USD 000s USD 000s USD 000s USD 000s USD 000s
Expenditure on raising funds 1,758 - - 106 29 1,893 1,173
Charitable activities
Healthy start in life 136,244 105,245 46,906 251,844 32,331 572,570 587,934
Safe back to school and learning 113,168 116,693 9,764 151,193 20,096 410,914 400,246
Live free from violence 95,288 76,648 4,401 89,755 11,848 277,940 234,370
Safety nets and resilient families 54,464 34,516 6,600 167,410 21,258 284,248 288,652
Support costs (c) 44,008 162 13,670 27,722 (85,562) - -
Total expenditure on charitable activities 443,172 333,264 81,341 687,924 (29) 1,545,672 1,511,202
Total expenditure 444,930 333,264 81,341 688,030 - 1,547,565 1,512,375
2022 total expenditure 408,659 326,874 79,861 696,981 - 1,512,375
(b)Contextual analysis of expenditure 2023 2023 2022 2022
USD 000s % of costs USD 000s % of costs
Development programmes 662,198 43% 656,273 43%
Humanitarian response 885,367 57% 856,102 57%
1,547,565 100% 1,512,375 100%
(c )Support costs and the basis of their allocation
2023 2022
Support category: USD 000s USD 000s
Leadership and governance 6,566 6,539
Financial management 9,816 7,213
Information systems 11,155 5,957
Human resources 8,115 6,229
Facilities and administration 4,344 3,557
Total management and administration expenditure 39,996 29,495
Investment in system improvements 25,897 20,112
Members’ donated services 5,280 4,766
Pro-bono professional services 13,670 5,159
Loss/(gains) on foreign exchange 719 (2,492)
Total support costs 85,562 57,040

All of the above support cost categories have been allocated to the charitable activities and the expenditure on raising funds on a pro-rata basis of allocation by thematic programme expenditure.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 82 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

(d) Expenditure through partners

2023 2022
USD 000s USD 000s
Partner Organisation
Danish Refugee Council - Ukraine 7,141 4,042
Population Service International 5,278 4,552
Norwegian Refugee Council 5,255 1,401
Gargaar Relief and Development Organisation 5,079 3,843
Asian Harm Reduction Network 4,871 4,286
International Medical Corps Afghanistan 4,762 5,833
Charity Foundation Donbass Development Center 3,668 2,294
Karen Teacher Working Group 3,634 4,045
Syria Relief 3,254 1,177
Shafak 3,248 850
International Organization for Migration 2,881 2,702
Charity fund Posmishka UA 2,684 2,070
Hebrew Immigrant Aid Society 2,500 2,500
Ministry of Health - Somalia 2,454 2,296
Cooperazione Internazionale 2,151 -
Ihsan Relief and Development 2,094 731
Ataa for Relief and Development 2,055 309
Bonyan Youth and Development Association 2,000 102
Care International Netherlands 1,999 1,747
Istok 1,951 922
Myanmar Positive Group 1,926 1,837
Alliance Myanmar 1,922 1,998
Medecins du Monde 1,865 1,659
Ong Service d’Assistance Pharmaceutique et Médicale 1,821 1,299
World Vision UK 1,817 -
Nyein (Shalom) Foundation 1,784 1,968
ONG TASSAGHT 1,775 1,040
Seh Theh Foundation 1,751 60
UK - MED 1,749 3,407
Action for Children Development Foundation 1,673 473
Health Poverty Action - MMR 1,662 1,413
World Vision 1,650 694
National Association of People Living with HIV in Nepal 1,636 1,751
Mon National Education Committee 1,624 1,245
Family Health International 1,612 1,240
Charitable Foundation Slavic Heart 1,575 1,090
Association Nabad for Development 1,573 1,123
Organization for Welfare and Development In Action 1,559 629
Ong La Grace Divine Eternelle 1,553 1,671
Middle East Council of Churches 1,550 570
Charitable Foundation Right to Protection 1,519 4,545
Groupe de Formation Consultation et Etude 1,518 998
Windle Trust International 1,460 -
Mercy Corps 1,387 1,566
Ukrainian House 1,362 1,341
CARE International - Bangladesh 1,343 1,442
Young Power In Social Action 1,311 1,020
Concern Worldwide - United States 1,306 4,262
Medicair 1,301 446
Norwegian Refugee Council - Afghanistan 1,300 -
Expenditure through other partners 216,421 240,385
Total expenditure 333,264 326,874

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 83

(e) Geographical analysis of expenditure

2023 2022
USD 000s USD 000s
Afghanistan 57,563 76,543
Bangladesh 38,671 50,040
Cambodia 6,885 7,144
China 6,250 5,792
Laos 7,094 8,389
Myanmar 85,482 73,091
Nepal and Bhutan 34,822 40,169
Sri Lanka 11,363 8,482
Thailand - 1,139
Vietnam 7,687 9,681
Asia regional offce - programme expenditure 2,302 2,542
Asia regional offce - oversight and support 7,739 6,070
Asia 265,858 289,082
Egypt 13,595 17,892
Northwest Balkans 2,749 3,875
Georgia 979 797
Occupied Palestinian Territory 14,471 10,337
Iraq 16,261 19,569
Lebanon 31,351 27,922
Poland 18,922 25,083
Syria 58,390 32,692
Türkiye 28,396 4,012
Ukraine 102,246 84,669
Yemen 71,695 83,165
Middle East, North Africa and Eastern Europe regional offce - programme expenditure (including Tunisia) 6,078 4,208
Middle East, North Africa and Eastern Europe regional offce - oversight and support 5,106 2,607
Middle East, North Africa and Eastern Europe 370,239 316,828
Bolivia 6,297 6,663
Colombia 22,583 27,506
El Salvador 7,066 7,188
Guatemala 11,404 16,273
Haiti 9,516 9,590
Nicaragua 1,318 2,500
Peru 12,249 14,789
Venezuela 9,366 8,397
Latin America and Caribbean regional offce - programme expenditure 4,749 2,619
Latin America and Caribbean regional offce - oversight and support 2,296 2,551
Latin America and Caribbean 86,844 98,076
Burkina Faso 13,715 19,065
Central African Republic - 7
Cote d’Ivoire 24,593 35,657
Democratic Republic of the Congo 31,536 28,752
Liberia 6,838 7,059
Mali 34,217 31,121
Niger 36,570 34,342
Nigeria 52,883 64,254
Senegal 4,387 3,644
Sierra Leone 7,135 6,299
West and Central Africa regional offce - programme expenditure 5,693 7,332
West and Central Africa regional offce - oversight and support 5,210 3,717
West and Central Africa 222,777 241,249

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 84 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

(e) Geographical analysis of expenditure (continued)

2023 2022
USD 000s USD 000s
Ethiopia 80,840 85,632
Kenya 29,357 27,789
Malawi 17,685 20,467
Mozambique 31,241 25,631
Rwanda 11,145 6,163
Somalia 145,685 127,130
South Sudan 43,791 48,967
Sudan 43,043 40,031
Tanzania 6,688 9,052
Uganda 37,136 45,715
Zambia 7,820 10,841
Zimbabwe 3,025 4,660
East and Southern Africa regional offce- programme support 5,657 4,759
East and Southern Africa regional offce- oversight and support 4,734 4,697
East and Southern Africa 467,847 461,534
Addis Ababa 487 739
Geneva 1,689 1,424
New York 946 937
Save the Children advocacy offces 3,122 3,100
Save the Children International centre 63,852 41,644
Centrally managed international programmes 34,604 35,531
Business transformation 32,422 25,331
Total expenditure 1,547,565 1,512,375

(f) Net income for the year is stated after charging:

(f)Net income for the year is stated after charging:
2023 2022
USD 000s USD 000s
Auditor’s remuneration:
Audit of these fnancial statements 958 716
Amounts receivable by the charity’s auditor and its associates in respect of:
Audit of fnancial statements of subsidiaries of the charity 53 79
Audit of fnancial statements of branches of the charity 140 163
Other assurance services 462 315
Non-audit services 25 17
Tax services 18 -
Lease rental payments 19,920 18,701
Depreciation 7,881 6,215

Other assurance services comprise mainly of project and donor audits as and when projects come to an end.

(g) Trustees’ remuneration

None of the trustees received any remuneration from the charity during 2023 (2022: nil). None of the trustees received any other benefits in kind during 2023 (2022: nil)

Expenses, including travel and subsistence were reimbursed to trustees or paid to third parties on behalf of trustees as follows: 14 trustees totalling USD56,760 (2022: 16 trustees totalling USD 44,009).

Save the Children International purchased trustee indemnity insurance to the value of GBP 10 million (USD 13 million) which covers the trustees or other officers of the charity. These insurances provide cover:

– to protect the charity from loss arising from the neglect or defaults of its trustees, employees or agents – to indemnify the trustees or other officers against legal liability for inadvertent errors or omissions on their part.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 85

4 STAFF COSTS

2023 2022
(a)Staff costs USD 000s USD 000s
Wages and salaries 345,280 327,566
Social security costs and payroll taxes 11,350 10,026
Pension contributions 11,922 10,924
Terminal grants 18,688 16,331
Benefts in kind 33,546 29,657
Other staff costs 4,891 4,717
Total direct staff costs 425,677 399,221
Donated staff costs from members 19,253 9,438
Total staff costs 444,930 408,659

Save the Children International contributes to a defined contribution scheme for staff at the centre, a group personal pension (GPP) operated on a salary sacrifice basis. Included in the pension costs above are employers’ contributions to this scheme of USD 2,436,445 (2022: USD 2,140,295).

Save the Children International contributes to a long term savings plan for programme staff on international contracts. Employers’ contributions charged to the consolidated statement of financial activities were USD 5,174,297 (2022: USD 4,027,212).

Donated staff costs from members represents secondees from members provided for no consideration. The value of these secondees is included within gifts in kind in note 2 (c).

Save the Children International has made USD 394,967 termination payments which were either paid during the year or had been communicated before 31 December 2023 (2022: USD 392,613).

(b) Average headcount of Save the Children International employees.

Country
offces		 Regional
offces		 Advocacy
offces		 Centre 2023
Total		 2022
Total
Charitable activities 18,016 296 35 1,190 19,537 19,852
Fundraising 11 11 11
18,027 296 35 1,190 19,548 19,863

The comparative values have been converted from a full time equivalent basis to headcount to provide a more representative indication of the number of employees and to be more inline with Charities SORP. In 2022, the Full Time Equivalents were 18,409.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 86 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

(c) The table below shows the number of staff (including secondees from members) with emoluments falling in the following ranges, starting from USD 60,000. Emoluments include salary, taxable benefits in kind and other payments to employees but not employer pension contributions.

For members of staff working in our international programmes, emoluments may include accommodation and other benefits, which allow us to be appropriately competitive in recruiting and retaining staff in the International Non-Governmental Organisation market. Employees based in Save the Children International’s centre office receive salary amounts in GBP and therefore foreign exchange movements between GBP and USD will impact comparisons between financial years.

2023 2022
Total Total
Emoluments Emoluments
2023 (including other 2022 (including other
Gross salaries benefts) Gross salaries benefts)
USD 60,001 - USD 75,000 411 399 271 324
USD 75,001 - USD 90,000 197 234 138 183
USD 90,001 - USD 105,000 98 156 60 104
USD 105,001 - USD 120,000 42 80 29 57
USD 120,001 - USD 135,000 14 35 18 27
USD 135,001 - USD 150,000 6 18 5 13
USD 150,001 - USD 165,000 4 10 3 10
USD 165,001 - USD 180,000 3 11 5 10
USD 180,001 - USD 195,000 4 10 3 7
USD 195,001 - USD 210,000 5 8 2 4
USD 210,001 - USD 225,000 2 4 0 2
USD 225,001 - USD 240,000 0 1 1 2
USD 240,001 - USD 255,000 0 0 0 1
USD 255,001 - USD 270,000 0 1 0 0
USD 270,001 - USD 285,000 0 0 1 1
USD 285,001 - USD 300,000 1 0 0 0
USD 300,001 - USD 315,000 0 0 0 1
USD 315,000 - USD 330,000 0 1 0 0
USD 330,000 - USD 345,000 0 1 0 0
USD 345,000 - USD 360,000 0 0 0 0
USD 360,000 - USD 375,000 0 0 0 0
USD 375,000 - USD 390,000 0 0 0 1

(d) Remuneration of key management personnel

The trustees delegate the day to day running of the organisation to the Senior Leadership Team who are considered to be the key management personnel. Remuneration for members of the Senior Leadership Team for the year ended 31 December 2023 are detailed below.

No of Senior Actual gross Full time No of Senior Actual gross
Leadership remuneration equivalent Leadership remuneration
Team roles 2023 remuneration Team roles 2022
2023 USD 2023 2022 USD
Position
Chief Executive Offcer 344,571 344,571 312,298
Chief Operating Offcer 210,097 210,097 222,359
Chief Financial Offcer 196,256 196,256 188,940
Chief Strategic Offcer and Deputy Chief Executive Offcer 93,342 209,945 0
Other Senior Leadership Team members 6 1,273,114 1,213,533 6 1,345,818
Total remuneration for key management personnel 2,117,380 2,174,402 2,069,415

In addition to the gross salaries, USD 236,156 (2022: USD 202,137) was paid for employer’s National Insurance and pension contributions in respect of the above individuals. The prior year was adjusted to correctly include the Chief Transformation Officers’ National Insurance which was missed last year ($14,000). All staff received a salary increment to ensure our staff are protected against the continuing rise in the cost of living. This has been, in part offset against the exchange differences when converting to our functional currency, USD. Most of our senior leadership team are paid in Sterling, which has grown weaker so any staff paid in this currency will see a decrease when converting to USD.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 87

5. FIXED ASSETS

(a)Group tangible fxed assets
Furniture, fttings Leasehold
and equipment Motor vehicles property Freehold property Total
USD 000s USD 000s USD 000s USD 000s USD 000s
Cost
Brought forward at 1 January 2023 1,149 12,461 1,825 2,667 18,102
Additions 20 2,432 256 715 3,423
Disposals (12) (699) (78) - (789)
Carried forward at 31 December 2023 1,157 14,194 2,003 3,382 20,736
Depreciation
Brought forward at 1 January 2023 945 7,830 1,080 855 10,710
Charge for the fnancial year 24 1,067 172 68 1,331
Disposals - (187) - - (187)
Carried forward at 31 December 2023 969 8,710 1,252 923 11,854
Net book value
31 December 2023 188 5,484 751 2,459 8,882
31 December 2022 204 4,631 745 1,812 7,392

Leasehold property amounts all relate to long-term leases.

(b)Group intangible fxed assets Computer
software systems Total
USD 000s USD 000s
Cost
Brought forward at 1 January 2023 42,157 42,157
Additions 8,262 8,262
Disposals - -
Carried forward at 31 December 2023 50,419 50,419
Depreciation
Brought forward at 1 January 2023 19,966 19,966
Charge for the fnancial year 6,550 6,550
Disposals - -
Carried forward at 31 December 2023 26,516 26,516
Net book value
Sunday, December 31, 2023 23,903 23,903
31 December 2022 22,191 22,191

All fixed assets are held for direct charitable purposes.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 88 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

6. STOCK

6. STOCK
2023 2023 2022 2022
USD 000s USD 000s USD 000s USD 000s
Group Charity Group Charity
Undistributed gifts in kind
Food aid 7,062 7,186 9,548 9,548
Pharmaceutical and medical goods 1,625 1,611 1,932 1,941
Other goods 648 873 865 689
Total undistributed gifts in kind 9,335 9,670 12,345 12,178
Other Stocks
Food aid 640 640 706 706
Pharmaceutical and medical goods 10,214 10,185 10,998 10,957
Other goods 9,216 7,953 5,905 5,391
Total other stocks 20,070 18,778 17,609 17,054
Total stock 29,405 28,448 29,954 29,232
7. DEBTORS 2023 2023 2022 2022
USD 000s USD 000s USD 000s USD 000s
Group Charity Group Charity
Amounts due from Save the Children members 162,205 162,205 198,699 198,744
Amounts due from subsidiary undertakings - 3,708 - -
Other debtors 11,148 10,190 10,143 9,804
Prepayments and accrued income 13,729 12,499 12,896 12,278
187,082 188,602 221,738 220,826
8. INVESTMENTS
2023 2023 2022 2022
USD 000s USD 000s USD 000s USD 000s
Group Charity Group Charity
Short Term deposits - - 49,526 49,526
Financial Instrument Asset 176 176 - -
Associated company 387 387 230 230
563 563 49,756 49,756

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 89

9. CASH AT BANK AND IN HAND

2023 2023 2022 2022
USD 000s USD 000s USD 000s USD 000s
Group Charity Group Charity
Cash held at centre 244,136 244,136 212,571 212,571
Cash held in overseas offces 40,227 38,106 38,286 35,335
284,363 282,242 250,857 247,906

10. CREDITORS DUE WITHIN ONE YEAR

2023 2023 2022 2022
USD 000s USD 000s USD 000s USD 000s
Group Charity Group Charity
Amounts due to Save the Children Association 4,194 4,194 5,572 5,572
Amounts payable to Save the Children members 187,844 187,844 194,108 194,108
Amounts payable to Save the Children national offces 2,894 2,894 1,609 1,609
Amounts due to subsidiary undertakings - - - 7,863
Trade creditors 13,264 12,761 17,279 17,078
Financial instrument liability - - 489 489
Other short term liabilities 7,808 8,786 10,328 3,625
Accruals and deferred income 49,630 47,145 76,749 72,203
265,634 263,624 306,134 302,547

11. PROVISIONS

11. PROVISIONS
Balance as at
Balance as at Arising in the Utilised in the Provisions 31 December
1 January 2023 fnancial year fnancial year released 2023
USD 000s USD 000s USD 000s USD 000s USD 000s
Terminal grant provisions 45,805 18,688 (15,386) - 49,107
Property dilapidations 704 67 (15) (14) 742
Operating lease provision 370 723 (617) - 476
Provision for tax liability 7,235 2,205 (883) (2,463) 6,094
Other provisions 4,345 3,450 (3,556) (1,498) 2,741
58,459 25,133 (20,457) (3,975) 59,160

Total provisions held within the Save the Children International charity only were $57,133k (2022: $56,612k)

Terminal grant provisions are contractual amounts due to employees in country and regional offices when leaving employment with Save the Children International. Property dilapidations represent the estimated costs of payments required to make good the condition of properties on the termination of leases.

The operating lease provision represents the value of lease inducements (rent free period) received by Save the Children International. It will be utilised over the term of the lease.

The tax provision represents estimates of the amounts of liabilities for various taxes in country and regional offices.

Other provisions represent provisions for pending legal cases or provisions required to be recognised which do not fit into the specific categories listed above.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 90 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

2023 2023 2023
Unrestricted Restricted Total
USD 000s USD 000s USD 000s
Fixed assets 32,785 - 32,785
Current assets 359,060 142,353 501,413
Current liabilities (265,634) - (265,634)
Provisions (59,160) - (59,160)
67,051 142,353 209,404

13. COMMITMENTS UNDER OPERATING LEASES

The total future minimum lease payments and current year expenditure on non-cancellable operating leases:

2023 2022
Land and 2023 Land and 2022
buildings Other leases buildings Other leases
USD 000s USD 000s USD 000s USD 000s
lease payments recognised as current year expense 17,853 2,067 16,564 2,137
lease payments due within one year 7,298 73 13,759 326
lease payments due between one and fve years 4,722 4 9,249 8
lease payments due after fve years 41 4 1,789 -
12,061 81 24,797 334

14. FINANCIAL COMMITMENTS

(a) At 31 December 2023, Save the Children International has committed the following amounts in grants to partners subject to satisfactory performance. These amounts will form part of the grants allocated in future years.

Balance as at
1 January 2023
USD 000s		 Charged to
SOFA in 2023
USD 000s		 New
commitments
USD 000s		 Balance as at
31 December
2023
USD 000s
Commitments to partner organisations 316,502 (333,264) 358,377 341,615
Commitments to partner organisations consist of amounts falling due:
2023 2022
USD 000s USD 000s
within one year 231,856 232,223
after oneyear 109,759 84,279
341,615 316,502

(b) Save the Children International has entered into a number of long-term contracts for the supply of services all of which are cancellable.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 91

15. CONSOLIDATED STATEMENT OF FUNDS

Balance as at
1 January 2023
USD 000s		 Income
USD 000s		 Expenditure
USD 000s		 Transfers
USD 000s		 Balance as at
31 December
2023
USD 000s
Unrestricted funds
General funds 8,861 36,190 (23,459) (13,083) 8,509
Fixed asset funds 37,092 322 (432) (4,197) 32,785
International programming designated funds 21,646 21,528 (25,770) (5,567) 11,837
International programming reserve 8,800 - - - 8,800
Closure reserve 4,913 - - 207 5,120
Designated funds 72,451 21,850 (26,202) (9,557) 58,542
Total unrestricted funds 81,312 58,040 (49,661) (22,640) 67,051
Restricted funds
International programme grants 151,215 1,388,684 (1,393,455) 2,589 149,033
International programme operational fund 4,086 53,954 (64,026) 17,903 11,917
Strategic investment fund (22,026) 18,653 (20,747) 2,148 (21,972)
Donated professional services - 19,269 (19,269) - -
Member growth fund 2,708 1,074 (407) - 3,375
Total restricted funds 135,983 1,481,634 (1,497,904) 22,640 142,353
Total funds 217,295 1,539,674 (1,547,565) - 209,404

General funds represent the amounts that trustees are free to use in accordance with Save the Children International’s charitable objectives.

The fixed asset fund represents the net book value of tangible fixed assets and proceeds from the sale of fixed assets to be used for the replacement of fixed assets in 2023. The value of fixed assets acquired out of general funds, the international programme operational fund, the international programme investment fund and the fixed asset replacement fund are transferred to the fixed asset fund.

International Programming designated funds represents Non-Award funds, disallowance reserve and funded provisions and assets.

The closure reserve represents the funds set aside to provide for the costs in the event of the closure of the non-programming functions of the charity.

International programme grants represent funds received from members for development and humanitarian projects.

The international programme operational fund represents contributions received from members for the running costs of Save the Children International’s international programme work, not directly attributable to projects.

The Strategic Investment Fund is used to pre-finance our High Performing Organisation project capital spend. This ensures the organisation can deliver on its strategic plan, with an emphasis on investing in the portfolio of global transformation projects aimed at improving our efficiency and effectiveness. The use of reserves to fund system developments was agreed with Save the Children members and the reserve will be replenished over the coming years in accordance with that agreement. As a consequence, the Strategic Investment Fund has been in a negative position since the end of 2021 and this deficit will initially increase to allow Save the Children International to fund its system developments over the coming years and then will be fully replenished by the end of 2028. The replenishment plan in place with all Save the Children members gives Save the Children International a reasonable expectation of receiving income in the future. As stated in the replenishment plan, members are providing funds on an annual basis to Save the Children International for an amount equivalent to the annual depreciation of the High Performing Organisation capital costs and therefore the Strategic Investment Fund will be replenished for High Performing Organisation costs at the end of 2028.

Donated professional services represents the value of services provided directly to Save the Children International free of charge.

The member growth fund represents funds received to support the continued growth and development of members.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 92 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

16. SUBSIDIARY AND ASSOCIATED COMPANIES

Save the Children International had eight wholly-owned subsidiary entities and one associate at 31 December 2023:

(a) The Save the Children Alliance Trading Limited is incorporated in England and Wales with registered company number 3744223; registered address: St Vincent House, 30 Orange Street, London WC2H 7HH) as a company limited by shares. It was made a dormant company in 2007; its principal activities were the provision of consultancy services to Save the Children International and commercial use of the Save the Children name and logo. The charity holds the entire issued share capital. The cost of this investment is £1.

(b) Save the Children Asia Regional Office Limited is a Singapore incorporated public company limited by guarantee with registered Company No: 201024335C; registered as a charity under the Singapore Charities Act and registered address is 352 Tanglin Road, Tanglin International Centre, #03-01 Strathmore Building, Singapore 247671. Save the Children International is the sole member of Save the Children Asia Regional Office Limited. The company’s net assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:

2023 2022
USD 000s USD 000s
Assets 553 647
Liabilities (435) (847)
Total net assets 118 (200)
Income 10,420 8,104
Expenditure (10,106) (8,447)
Net incoming resources 314 (343)

(c) Save the Children International (Kenya) is incorporated in Kenya under the Non-Governmental Organizations Co-ordination Act with registered address as Kenya & Madagascar Country Office, 1st Floor, Merchant Square Block C, Riverside Drive, P.O. Box 27679-00506, Nairobi, Kenya. Save the Children International is the sole corporate member of Save the Children International (Kenya). The company’s net assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:

2023 2022
USD 000s USD 000s
Assets 2,613 4,399
Liabilities (2,486) (3,894)
Total net assets 127 505
Income 28,980 27,484
Expenditure (29,357) (27,790)
Net incoming resources (377) (306)

(d) Save the Children International (Zambia) is incorporated in Zambia under the Societies Act with registered no. ORS/102/35/3906 and registered address as Plot 4E, Warthog Way, Off Warthog Road, Kabulonga, Post net Box 487, Private Edge Bag E891, Lusaka, Zambia. The members of Save the Children (Zambia) are Save the Children International and the International Programming Director of Save the Children International. The company’s net assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:

2023 2022
USD 000s USD 000s
Assets 636 1,781
Liabilities (635) (1,782)
Total net assets 1 (1)
Income 7,818 11,046
Expenditure (7,819) (10,841)
Net incoming resources (1) 205

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 93

(e) Save the Children International (US Global Advocacy Office), Inc. was incorporated in 777 United Nations Plaza #3A, New York, NY 10017, United States as an exempt non-profit organisation. Save the Children International is sole member with right to remove and appoint director / officer(s). The company’s net assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:

2023 2022
USD 000s USD 000s
Assets 130 66
Liabilities (130) (66)
Total net assets 0 (0)
Income 945 937
Expenditure (946) (937)
Net incoming resources (1) (0)

(f) Fundación Save the Children Colombia (registration number S0046070 and registered address as Calle 77 N° 11-19 Piso 5. Bogotá D.C. and was incorporated in Colombia as a Foundation (a type of private, not-for-profit entity). Save the Children International is the sole member (a corporate member). The company’s net assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:

assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:
2023 2022
Assets 1,897 1,369
Liabilities (2,128) (905)
Total net assets (231) 464
Income 21,889 26,819
Expenditure (22,583) (27,506)
Net incoming resources (694) (687)

(g) Asociacion Civil Save the Children International Venezuela was registered at the Public Registry of the First Circuit of the Baruta Municipality, Miranda State under number 15 folio 86 of Volume 24 of the Transcription Protocol incorporated on 8th October 2019 with registered address as Quinta La Colina, Calle Agualinda, Urbanizacion Prados del Este, Municipio Baruta del Estado Miranda, Caracas.

2023 2022
USD 000s USD 000s
Assets 489 173
Liabilities (99) (108)
Total net assets 390 65
Income 9,645 8,351
Expenditure (9,366) (8,397)
Net incoming resources 279 (46)

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 94 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

(h) Fundacja Save the Children International (Poland) was registered in the National Court Register in the country on 14 April 2021 with registered address as Save the Children, ul. Skierniewicka 10A, 01-230 Warsaw,Poland. The organisation’s net assets, liabilities, income and expenditure for the year ended 31 December 2023 were as follows:

2023 2022
USD 000s USD 000s
Assets 1,268 566
Liabilities (3,746) (1,906)
Total net assets (2,478) (1,340)
Income 17,788 23,742
Expenditure (18,922) (25,082)
Net incoming resources (1,134) (1,340)

(i) Fintech for International Development Ltd was incorporated in 2021 with a registered address 41 Luke Street, London, EC2A 4DP. Fintech was then dissolved in the year ended 2023 and therefore SCI has derecognised the related investment on its balance sheet in the year.Save the Children International held 11% of the equity.

2023 2022
USD 000s USD 000s
Assets 2,209
Liabilities (117)
Total net assets - 2,092
Save the Children International’s share of net assets 230

(j) Save the Children Global Ventures was incorporated in 2023. Save the Children International holds 20% of the voting rights of the board and

therefore deems to hold significant influence over the activities and direction of the company and in turn has been recognised as an associate. It’s registered address is 3 Rue due Mont Blanc, 1201 Geneva, Switzerland.

2023 2022
USD 000s USD 000s
Assets 2,147
Liabilities (210)
Total net assets 1,937 -
Save the Children International’s share of net assets 387 -

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 95

17. RELATED PARTY TRANSACTIONS

In accordance with the provisions of section 33 of the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Related Party Disclosures, the related party transactions entered into by Save the Children International are detailed below. All transactions were in the normal course of business.

(a) Save the Children Association

Save the Children International has been controlled throughout the financial year by its ultimate parent undertaking Save the Children Association, a Swiss association formed pursuant to Articles 60-79 of the Swiss Civil Code. No other group financial statements include the results of the charity.

At the end of 2023 Save the Children Association comprised 27 members and 3 associate members. Members and associate members are each separate and independent legal entities incorporated under laws of their home country and are bound together as members through: Save the Children Association Bylaws, a Trademark Licence Agreement between Save the Children Association and each member, and an All Member Agreement, entered into in the first quarter of 2011 to implement an international programming strategy.

The boards of Save the Children Association and Save the Children International have identical membership and both are managed on a day-today basis by the same leadership team employed by Save the Children International. During the financial year, the following types of transactions took place between Save the Children International and Save the Children Association: grants of USD 51,619,644 (2022: USD 46,097,983) were received by Save the Children International from Save the Children Association.

At the year end, the group balances with Save the Children Association were:

2023 2022
USD 000s USD 000s
Amounts payable to the Save the Children Association (4,194) (5,572)
Amounts receivable from Save the Children Association - -

(b) Save the Children members

During the financial year the following types of transactions took place between Save the Children International and members (primarily the 17 international programming members):

i Grant income of USD 1,333,880,000 (2022: USD 1,430,654,000) was received from the members for international programming activities.

ii Donated services of USD 18,844,000 (2022: USD 9,135,000) were received from members.

iii Donated goods of USD 29,010,000 (2022: USD 67,319,000) were received from members.

iv Contributions to the charity’s working capital of USD 36,328,000 (2022: USD 35,032,000) have been made by, and are repayable to, members.

v Donations were received by Save the Children International on behalf of Save the Children members. The sums received are remitted to the relevant member.

vi Additional commitments have been made by the members to Save the Children International as set out in note 18.

No profit or loss has arisen on these transactions.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 96 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

At the year end, the group’s balances with members were:

2023 2023 2023 2022
Amounts Amounts Net Net
receivable payable balance balance
USD 000s USD 000s USD 000s USD 000s
Save the Children member organisation
Australia 2,432 (5,246) (2,814) (2,176)
Canada 3,323 (4,508) (1,185) (2,912)
Denmark 5,933 (3,487) 2,446 4,328
Dominican Republic 2 - 2 -
European Union - (55) (55) 82
Finland 2,308 (4,155) (1,847) (2,011)
Germany 7,240 (8,852) (1,612) (4,059)
Hong Kong 713 (1,227) (514) (1,052)
Iceland 26 - 26 2
India 156 - 156 285
Indonesia - (194) (194) (23)
Italy 2,667 (8,299) (5,632) (2,287)
Japan 2,156 (1,121) 1,035 423
Jordan - (2) (2) (60)
Korea 1,929 (2,530) (601) (2,156)
Lithuania 1 - 1 11
Mexico - (365) (365) 38
Netherlands 3,424 (5,819) (2,395) (4,035)
New Zealand 361 (376) (15) 64
Norway 9,176 (17,645) (8,469) (9,100)
Philippines - (427) (427) (597)
Romania 29 - 29 -
Spain 407 (3,389) (2,982) (407)
South Africa - (43) (43) 327
Sweden 5,791 (10,925) (5,134) (9,337)
Switzerland 373 (2,858) (2,485) (1,563)
United Kingdom 14,689 (36,410) (21,721) (2,012)
United States 99,069 (69,911) 29,158 42,770
Total Save the Children members 162,205 (187,844) (25,639) 4,543

(c) National Offices

On January 1, 2022, our Kosovo country office transitioned to an independent Save the Children National Office; also on January 1, 2022 Sheptoni Fermijet (Save the Children), registered in Albania, transitioned from being a subsidiary of Save the Children International to an independent Save the Children National Office. On 1st May 2022 our Thailand country office transitioned to an independent Save the Children National Office. All three entities were previously controlled by Save the Children International but are now seperately managed and controlled entities. Although Save the Children International does not have direct significant influence over the National Offices there are persons directly connected with Save the Children International that have significant influence with the National Offices and accordingly we believe that they should be treated as related parties. The following related party transactions occured within the year:

During the year the following types of transactions took place between Save the Children International and Save the Children National Offices: i Service charges of USD 300,000 (2022: USD 436,000) were received from the national offices.

ii Donated services of USD 371,000 (2022: USD 302,000) were received from the national offices. iii Grants of USD 1,095,000 (2022: USD 346,000) were paid to the national offices.

At the end of the year, the group’s balances with national offices were:

2023 2023 2023 2022
Amounts Amounts Net Net
receivable payable balance balance
USD 000s USD 000s USD 000s USD 000s
Albania - (315) (315) (10)
Kosovo - (592) (592) (506)
Thailand - (1,987) (1,987) (1,045)
Total National Offces - (2,894) (2,894) (1,561)

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6

FINANCIAL STATEMENTS 2023 97

18. CONTINGENT ASSETS

2023 2023
International International 2023 2022
programming programming Total Total
reserve closure contingent contingent
commitments (a) indemnity (b) assets assets
USD 000s USD 000s USD 000s USD 000s
Save the Children member organisation
Australia 252 252 190
Canada - 535 535 542
Denmark - 748 748 686
Finland - 350 350 395
Germany - 871 871 810
Hong Kong - 129 129 120
Italy - 1,183 1,183 1,204
Japan - 156 156 119
Korea - 412 412 389
Netherlands - 640 640 675
New Zealand - 39 39 46
Norway - 1,596 1,596 1,409
Spain - 314 314 291
Sweden - 1,437 1,437 1,500
Switzerland - 258 258 239
United Kingdom 3,112 2,700 5,812 5,516
United States 3,100 8,380 11,480 12,081
6,212 20,000 26,212 26,212

(a) Members have made cash contributions in previous years of USD 8,800,000 which comprises the International Programming reserve (see note 15) to enable Save the Children International to meet its requirements to hold free reserves in accordance with the reserves policy agreed by the trustees. In addition, members provided a further USD 6,212,000 during 2016 in the form of standby letters of credit which give the charity unconditional and irrevocable access on demand to funds in the event of the use of reserves being required as reflected in the contingent asset table.

(b) The costs associated with the closure / wind-down of the charity’s international programming work are covered by member indemnities up to a maximum of USD 20 million.

19. CONTINGENT LIABILITIES

Save the Children International is involved in various legal proceedings and claims arising in the normal course of business. Management does not expect the ultimate resolution of these actions to have a material adverse effect on Save the Children International’s financial position, changes in net assets, or cash flow, as the possibility is remote or the estimate of the financial effect is not practical with the information available. As at 31 December 2023, Save the Children International has multiple ongoing legal cases in various jurisdictions, amounting to USD 27,750,030 (2022: USD 24,270,772). However, the legal advice indicated that the actual amount of economic outflow is either considered to be not probable or cannot be estimated reliably, therefore no provision has been recognised.

Save the Children International receives funding from members for various activities, which are subject to audit. Although such audits may result in disallowance of certain expenditures, which would be absorbed by Save the Children International, in management’s opinion the ultimate outcome of such audits would not have a significant effect on the financial position, changes in net assets, or cash flows of Save the Children International.

20. SUBSEQUENT EVENTS

For the reporting date 31 December 2023, there are no subsequent events which have any impact on the recognition and measurement of assets and liabilities.

Docusign Envelope ID: 483AC22E-3DD6-41AD-A860-300ED8A8D0C6 98 SAVE THE CHILDREN INTERNATIONAL TRUSTEES’ REPORT, STRATEGIC REVIEW, AND FINANCIAL STATEMENTS 2023

Save the Children International St Vincent House 30 Orange Street London WC2H 7HH UK

Tel: +44 (0)20 3272 0300 Fax: +44 (0)20 8237 8000 info@savethechildren.org

Company registration number 3732267 (England and Wales) Charity registration number 1076822