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2024-12-31-accounts

CHEM TRUST | REPORT OF THE TRUSTEES

Annual Report 2024

CHEM TRUST | REPORT OF THE TRUSTEES

Contents

Contents
Report of the Trustees
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Auditors’ Report
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Statement of Financial Activities
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Balance Sheet
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Statement of Cash Flow
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Notes to the Financial Statements BEEBE
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chemtrust.org

Charity No: 1118182 | Company No: 05933897

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Chair’s Foreword

This is my first full year as Chair of CHEM Trust� I am delighted to report that we have had a very good year developing and delivering our new strategy, undertaking important policy work and strengthening our governance and resilience�

Chemical pollution remains the Cinderella pollution issue that is often overlooked, but it is as grave a threat as climate change, and as difficult to tackle. Reversing the pollution tide is vital for wildlife and human health, and 2024 was a successful and busy year for CHEM Trust in fighting this ongoing crisis.

It was a year in which there were both UK and EU elections, leading to many opportunities. Because of dogged CHEM Trust campaigning over many years, we took a major step towards the EU banning some of the most harmful chemicals in children’s toys, and the EU adopted a regulation banning bisphenols from certain food contact materials, such as cans. The world moved closer to banning harmful PFAS “forever chemicals”, and a new EU regulation was brought into law, meaning companies will have to state if their products contain harmful chemicals that can interfere with our endocrine (hormone) system or are persistent and mobile in the environment.

In the UK, in the lead-up to the July 2024 election, Rachel Reeves, the then-future Chancellor, made a statement indicating that Labour was keen to align with and forge a closer relationship with the EU on chemicals. All this progress is the result of decades of work by CHEM Trust and our European and UK partners.

In the last year, our fundraising has been successful, and this has permitted us to increase our impact by growing the capacity of the CHEM Trust team in the UK and CHEM Trust Europe in Germany. Our engagement with the public through social media channels greatly expanded via Instagram and Bluesky, whilst the number of subscribers to our newsletters increased by 52%, our LinkedIn subscribers by 71%, and our website views by 42%.

There is still much more for us to do. In 2025, we are pushing for a revision to strengthen the EU’s REACH Regulation (the most important piece of chemical regulation in the EU) and for the UK Government to match the aspirations of EU regulations on chemicals. We will work tirelessly to keep the EU’s universal PFAS restriction proposal as robust as possible. To maximise our impact and efficiency, we will continue to build a strong NGO coalition on chemicals, which is particularly important given geopolitical uncertainty.

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The growing media coverage of ‘Forever Chemicals’ in our rivers and drinking water means that tackling chemical pollution is now high on the political agenda. The stakes are also high, as without action in these areas, we risk leaving a growing toxic legacy to our children, grandchildren, and our natural world.

Since 2007, CHEM Trust has improved existing chemicals policies and highlighted where new ones are needed. We are respected and seen as a trusted partner. We have many of our own chemicals policy experts and communicators who have excellent relationships with scientists, decisionmakers and other charities. Many of our wonderful funders recognise our unique and vital contribution to reducing harmful chemical pollution and support us year on year.

You can be assured that we will continue to campaign passionately and energetically for protective chemicals legislation that keeps us, future generations, and the world we live in, safe from harm. However, this enormous and uphill job requires increasing philanthropic support over the long term. My sincere thanks go to CHEM Trust’s funders for their steadfast support, and to our Trustees, including our six new Trustees, for their support in making CHEM Trust stronger and more robust as an organisation. I also thank CHEM Trust’s Senior Management Team – led by our Executive Director Michael Warhurst - for their tireless work in developing CHEM Trust.

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Our Vision

Our vision is a world where wildlife and people coexist with a sustainable chemical industry and where chemicals play no part in causing impaired reproduction, deformities, disease, or deficits in neurological function�

At CHEM Trust, we are committed to fighting this ongoing disaster. No ocean or continent is free from pollution by harmful synthetic chemicals. All people and wildlife are at risk of contamination. Sampling has repeatedly found that 99% of people tested have harmful chemicals in their blood. Many of these chemicals are manufactured to persist, making them virtually indestructible in any environment, including inside us, where they accumulate throughout our lifetime.

Our planet is under catastrophic threat. The news cycle is never short of reports on ecological disasters, from raging wildfires caused by unchecked climate change to the extinction of more and more species stemming from destructive human practices. Our work addresses the chemical pollution crisis, which matches these other disasters’ harmful impacts but has a fraction of the public understanding, media coverage, and funding. Chemical pollution is an unspoken catastrophe, further pushing our environment and health to the brink.

Our team has several lifetimes of experience in chemical regulation. We have been there where there have been watershed moments in chemical regulations. We have a unique blend of talent, knowledge,

experience, and dedication, which breeds success. Opposition is often fierce, and timelines are long, but we believe in the work we do, and our tenacity gets results.

Scientists have warned that we have exceeded the safe planetary boundary for chemical pollution, the limit at which the vital systems of the planet we rely on start to break down, and the UN has officially put chemical pollution in the same category of global catastrophic threat as climate change and biodiversity loss. Current global policy, no matter what region, lags years, sometimes decades, behind the most up-to-date science. While new policy is slowly debated and repeatedly tweaked, the volume of toxic chemicals in our world, wildlife, and our bodies is rising. The time for debate is over; now it is time for action.

Our focus is on endocrine-disrupting chemicals, also known as hormonedisrupting chemicals� These chemicals disrupt the exquisitely delicate endocrine system, which controls fertility, reproduction, and behaviour and is inextricably intertwined with the immune and nervous systems�

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Our Vision

Exposure to minuscule levels of endocrinedisrupting chemicals can have catastrophic effects on humans and wildlife� In humans, this exposure may increase the risk of certain cancers, obesity, and diabetes�

Exposure in the womb has been associated with ADHD and autism, and these chemicals have also been linked to declining sperm counts and fertility rates worldwide. Among land, freshwater, and marine wildlife, exposure to these chemicals has been linked to vast health issues, including inducing male fish to produce female egg proteins, preventing killer whales from reproducing, and altering the reproductive organs of otters. Studies on other species across the globe—including polar bears, frogs, and porpoises—indicate that populations are buckling under the burden of chemical pollution. This pollution increasingly affects wildlife populations already driven to the brink of extinction by climate change and habitat loss.

Endocrine-disrupting chemicals are woven into the fabric of our modern society. They are found in children’s toys, clothing, cosmetics, cooking equipment, mobile phones, computers, furniture, food packaging, buildings and vehicles, to name but a few. It is too easy for harmful chemicals to be released into our world. They may leach out of a product through wear and tear, be discharged as waste during manufacturing, or be sprayed directly into the environment (as with fire-fighting foams). Once in the environment, these chemicals can accumulate in soils, rivers and the deep ocean; at this point, clean-up is nigh on impossible.

Studies have estimated the cost of cleaning up all PFAS currently released annually. (Just one of the chemical classes we are concerned about) at US$106 trillion – more than the entire planet’s GDP. This is why the tap must be turned off, and these chemicals must be regulated at source; strong laws are the only effective way to do this.

CHEM Trust, though small, makes a substantial impact. We collaborate with scientists who understand the complex effects of chemicals. We convert powerful scientific evidence into workable policies, which we advocate for legislators and regulators to implement to reduce pollution.

CHEM Trust’s focus is on EU policy. The EU is currently the global region with the most effective and well-resourced chemical policy system; many of its laws are leaps and bounds ahead of the rest of the world, and while many further improvements are needed, it remains the global gold standard. The EU acts as a global guiding beacon; many of its regulations inspire and inform other systems worldwide. We are working with coalition partners in the UK to ensure the UK government follows EU chemical laws because they are currently the best in the world.

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Our 10 Key Successes

01 Supporting the adoption of worldleading rules for identifying harmful endocrine disrupters

Endocrine-disrupting chemicals interfere with the extraordinarily delicate endocrine system of humans and wildlife. Disruption of this system can cause developmental issues, neurological damage, and decreased fertility. Even though they are linked to harmful health impacts, endocrinedisrupting chemicals are still found in everyday products such as cosmetics, toys, electronics and food packaging.

In 2024, after years of campaigning from CHEM Trust and others, the EU introduced an official guidance document to classify chemicals as endocrine-disrupting chemicals and suspected endocrine-disrupting chemicals. Companies will have to clearly identify their chemicals as having these harmful properties, making it easier for us all to avoid them. Other EU laws will prevent their use in an increasing number of products. This marks a significant step towards protecting humans and nature from the most harmful chemicals in consumer products.

02

Making our food packaging safer

Currently, the laws covering food packaging, cooking equipment, and tableware are less protective than other EU chemical regulations. Since 2014, CHEM Trust has been calling for new EU laws to restrict the use of harmful chemicals in food packaging. In 2024, the Commission published a regulation to restrict bisphenol A and certain other harmful bisphenols in some types of food packaging, including plastic and coatings. Bisphenol A and other bisphenols can derail the endocrine system, mimicking or disrupting oestrogen and other hormones. The health impacts linked with exposure to some bisphenols include breast cancer, prostate cancer, endometriosis, heart disease, and impaired brain development in children, so it was excellent to see the Commission take this protective step.

We submitted comments to the draft of this regulation to ensure that it was as strong as possible. The restriction came into force at the end of 2024. Since our inception, CHEM Trust has been calling for bans on bisphenol A in a host of everyday products, so this was a big win for us.

While we welcomed this ban, our objective remains to campaign for a revision of the full ‘food contact material’ legislation, which includes food packaging and cookware. We signed a letter, coordinated by Zero Waste Europe, to the Commission President, Ursula Von der Leyen, calling for this full revision soon.

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03

Keeping the focus on “forever chemicals” – PFAS

One of the most notorious groups of harmful chemicals is PFAS (perand polyfluoroalkyl substances). They are better known in the public domain as “forever chemicals” because they are virtually indestructible and will remain, accumulating in the environment, wildlife and humans for centuries. Exposure to some PFAS has been linked to adverse health effects, such as the promotion of certain cancers, disruption of the immune system, and reduced fertility. PFAS have been found in toothpaste, make-up, frying pans, outdoor clothing, mattresses, carpets, smartphones, food packaging, and many more items.

The EU has proposed to ban most of these harmful chemicals from almost all uses. However, this proposal faces stiff opposition from the chemical industry, many of whom want to continue using these harmful chemicals.

One argument being used against the proposal is that some PFAS are necessary for green technologies (such as wind turbines and heat pumps). We researched these claims made by some of the industry and produced a ‘PFAS FAQ,’ which highlighted that alternatives to PFAS are available and effective for green technologies. The briefing was adapted into an accessible flyer and distributed to MEPs in the European Parliament. It is crucial that we explain the reality of the potential PFAS alternatives to EU decision-makers so they are accurately informed about the issue.

The EU also finally banned PFHxA, a type of PFAS chemical known to be harmful to health, from everyday clothing and certain food packaging. CHEM Trust and other NGOs have been calling for progress on this ban since 2022. While this is an excellent step, it is not a replacement for the proposed EU-wide ban of all PFAS, which will cover a much wider range of uses.

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04

Making children’s toys safer

Children are among the most at risk from harmful chemicals, as they are still in a critical developmental stage of their lives. For this reason, it is extremely worrying that toxic chemicals are still routinely used in children’s toys, putting a vulnerable group at high risk of dangerous chemical exposure.

The EU Parliament Environment Committee voted to include these proposed amendments. However, opposition from other parts of the EU system is threatening them. We have met and supported member state representatives, the Environment Committee, MEPs, and advisors involved in this Regulation to defend our amendments. We developed several communication tools, including a brochure and a dedicated webpage, to educate decision-makers on why these amendments are essential to the Regulation. We have also provided technical input into discussions.

This is why it was excellent news when the EU Commission released its proposed Toy Safety Regulation. The Regulation would ban harmful endocrine-disrupting chemicals from all toys in the EU. We are now asking for the new Regulation to be expanded. We led two joint NGO letters to call for the proposed Regulation to include, among other things, banning PFAS and bisphenols, which are known to harm human and wildlife health.

We expect the new regulation to be finalised in 2025. This law would be a big win for keeping chemical safety reform on the political agenda and is a beacon of hope for the future health of our children.

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05 Calling for an update of EU chemical rules

The Regulation on the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) is the EU’s primary and most important law governing chemicals.

The current legislation was agreed upon in 2007, and although it was groundbreaking at the time, it needs updating to keep us, wildlife, and the environment safe from chemicals used in products throughout the EU. The EU Commission promised to update REACH when it released the Chemical Strategy for Sustainability in 2020, but it has failed to do so. Despite frustrating delays, we expect the new REACH proposal to be released in 2025.

The Environment Commissioner has confirmed that the REACH revision will prioritise protection, stating, “The objective of REACH is to protect human health and the environment”. These comments reflect the communications we have used to educate decisionmakers. Environment Ministers from the Netherlands, Austria, Sweden, Portugal, Luxemburg, Finland, Greece, Belgium, Malta, Denmark, and Latvia have supported the REACH revision. This commitment to revising REACH is a significant milestone that reflects extensive advocacy efforts by CHEM Trust, working closely with other NGOs, securing the support of MEPs and Member States, and maintaining motivation inside the Commission.

06

Acting on pollution in the UK

Our lynchpin policy ask is that the UK aligns with the EU on chemical regulations, and the July general election would seem to indicate favourable outcomes for our objectives. Our advocacy efforts with the Labour Party would appear to have paid off when Rachel Reeves, then-future Chancellor, made a statement during the election campaign indicating that Labour was interested in aligning and forging a closer relationship with the EU on chemicals.

MPs and Peers are using our arguments and messaging, and influential bodies have included our policy recommendations in reports.

For the third year running, we organised a fringe event at the Labour conference. This year, we focused on the potential environmental benefits of a closer relationship with the EU, underscoring how much could be achieved within Labour’s red lines of not rejoining the single market or customs union. Speakers at the event included the political economist and journalist Will Hutton, Stella Creasy MP (who leads Labour’s Movement for Europe), and the new Chair of the Environmental Audit Committee.

In 2024, CHEM Trust worked with UK NGO coalition partners to highlight the threat of chemical pollution to people and nature. We have collaborated on joint events, briefings, and news stories, sharing our expertise and analysis within the coalitions. Our work highlighting where the UK fails to match EU chemical protections is increasingly covered in the national media.

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07

Advocating for best practices at the global level

Chemical pollution threatens people and wildlife worldwide. Therefore, we must work to ensure that the best chemical legislation is adopted globally. These chemicals can be transported around the globe, even being found in remote, uninhabited places such as the Arctic. This is truly a global issue.

In 2024, we continued to work to support the EU’s efforts to get endocrine-disrupting chemicals into the Globally Harmonised System (GHS), the international system for classifying chemical hazards. With experts from Governments, we were part of developing an important report by the Organisation for Economic Co-operation and Development (OECD) on the scientific rationale for classifying endocrine-disrupting chemicals as a hazard class under the GHS.

This report, which was commissioned by the GHS process, will now feed into their discussions. Some countries and industry voices sought to delay the process and dilute the text, but our comments received support from the majority, resulting in a balanced report.

We also contributed to the OECD expert group that reviews the state of scientific knowledge on available methods for identifying endocrinedisrupting chemicals. Throughout the year, we also participated in significant international conferences discussing the latest science on endocrine-disrupting chemicals and the complexities of interactions among the endocrine, nervous, and immune systems.

08

Taking our messages to new audiences

A vital part of our role is increasing the understanding of the chemical pollution crisis among a diverse audience. We use a variety of platforms to deliver our messages, including news articles and blogs on our website, presentations and webinars, social media, and newsletters. CHEM Trust produces three newsletters covering the topics of harmful chemicals in food packaging, EU chemical regulations, and the general activities of CHEM Trust.

We have seen a positive correlation between our video content and increased outreach to people not already following us. We saw growth in our social media following and newsletter subscribers, particularly on LinkedIn, where we saw a 75% increase in followers.

Due to social trends, we decided to shift our focus away from Facebook and X as platforms for our content. Instead, we are focusing our attention on LinkedIn, Instagram, and Bluesky.

In 2023, we launched on Instagram, and between 2023 and 2024, we saw a 252% growth in followers. In 2024, we started a BlueSky account, which is now our fastest-growing platform. We have started producing short videos, an increasingly popular way to consume information, especially among younger generations.

We have seen a significant increase in website views. We continue to work with our website developer to make necessary updates, ensure the website appears at the top of search engines, and provide content that interests our audiences.

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09

Launch of a new 5-year strategy

In 2024, we finalised our new organisational strategy to guide our policy work and internal growth and governance until 2030.

On organisational growth, the strategy has clear objectives and annual operating plans for augmented governance, including financial management, more significant income generation, and increased stakeholder engagement.

Our new strategy builds on CHEM Trust’s success and impact. We will continue to grow the team’s skills and expertise and employ new staff to expand into new areas, including more international work. We will also ensure that we are robust enough to weather future challenges from the external world.

Other organisational achievements this year include expanding our board to 12 people and recruiting a full-time Chief Operations Officer. Our internship programme is helping us address the paucity of science and policy experts by allowing us to ‘grow our own’. Our intern from 2023 was promoted to Assistant EU Campaigner, further expanding and enhancing our influence on EU chemicals policy.

Success in fundraising

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new multi-year funding from the Adessium Foundation, the Flotilla Foundation, the Lund Trust, the Marisla Foundation, the Samworth Foundation, and the Waterloo Foundation. Additionally, we received new annual funding from the Alerce Trust, the Chapman Charitable Trust, and the Garfield Weston Foundation, along with repeat annual funding from the Sigrid Rausing Trust and the European Environmental and Health Initiative (EEHI).

The highly technical nature of chemical policy means funding is scarce for fighting chemical pollution, and our small team works hard for each funding win.

In line with our charitable objectives, we will continue to focus on the world-leading EU chemicals regulatory system. We will also continue our work in the UK and plan to expand our international work, based on the progress made at the EU level.

Many of our multi-year funding agreements were up for renewal in 2024, and we had our largestever organisational budget. Hence, we had significant funding to raise from existing and new funders. Fortunately, we had another excellent year and raised all the required funds.

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We are hugely grateful to the funders listed above, those who wish to remain anonymous, our ongoing multi-year funders, and others who have supported us for many years. Without this long-term support, we would not have the capacity to grow as an organisation

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CHEM Trust Europe

CHEM Trust Europe e.V. is our sister organisation, legally established in Hamburg, Germany. CHEM Trust Europe plays a crucial role within the CHEM Trust family, as Germany is the largest and most powerful EU Member State and has the most significant vote in decision-making.

Germany also has the most significant chemical manufacturing industry of any nation within the EU. CHEM Trust will maintain and increase its presence here. We work closely together on EU policy and ensure our messages reach the public and decisionmakers.

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Challenges

Our planet is at a tipping point� Chemical pollution is one of nine planetary boundaries that scientists predict, when crossed, may trigger catastrophic environmental changes - and it is thought we have already crossed this boundary. However, introducing new, safer chemical legislation continues to grind slowly forward. Here are some of the challenges we face and why it is vital that our work continues�

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Industry demands
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nature and the planet.
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02
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A changing political context

While CHEM Trust works tirelessly to protect the world from dangerous chemical pollution, many lobby against us. The chemical industry – those who design and make synthetic chemicals – and some of the industries that use chemicals in consumer products do not necessarily like what we say. While we know that stopping the avalanche of harmful chemicals is a vital step in protecting the health of our planet, the chemical industry uses its financial power and resources to contest new protective laws. Industry vastly outnumbers us in both financial weight and lobbying power; it is a true David vs. Goliath battle.

Across the EU, the political priorities of the public and politicians are changing. There has been a general shift to the right, which we saw during the EU elections over the summer. These challenges include the EU’s ‘clean industrial deal’, which prioritises business competitiveness, to complement the much more environment-friendly ‘green deal’ made four years ago. Globally, multi-lateral processes are being called into question. These developments have not changed our goals but necessitate adapting our methods and messages to convince new policymakers of the economic and market advantages of producing greener products.

Despite this daunting disparity, we are proud to counter unreasonable and environmentally harmful industry demands with a scientific evidence base. The chemical industry is powerful in reaching the ear of decisionmakers on chemical laws. Without CHEM Trust’s voice acting as a foil against often unreasonable industry demands, the situation would be even more disastrous for people, nature and the planet.

Given the increasingly complex and uncertain geopolitical backdrop, we need to redouble our efforts and use innovative methods to keep our key evidence-based asks at the forefront of policymakers’ minds. We are ready to defend laws protecting people and the environment from dangerous chemical pollution.

03 An uncertain UK

In some ways, the UK political environment has become more favourable with Labour in power, and we would appear to be closer to achieving our key aim: the UK aligning with the EU on chemical laws. We have many allies in the new government, and now we must convince them to deliver.

However, despite promising commitments from UK policymakers on their future relationship with the EU, the government has inherited some highly deregulatory policies, which are still awaiting sign-off. The big chemical industry bodies fiercely support these measures, as they oppose EU proposals to ban all PFAS and other groups of widely used chemicals. Civil service officials and regulators have continued with the status quo developed under the last government without any strong steer from the new government.

Our agenda also faces a growing threat from a new enthusiasm for deregulation and anti-green measures intended to stimulate economic growth.

Without immediate change, UK citizens risk increasing exposure to harmful chemicals. While many vested interests battle against our work, what we do is crucial to the health of our world. We tackle complex challenges with confidence based on strong science. Each small step leads to visible strides and, ultimately, success.

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Looking ahead to the next 12 months

The policy landscape we work on is constantly moving� New policymakers are settling into posts in the EU and the UK, and we are building relationships with many key allies� Whatever way the political winds move, CHEM Trust will push for strong chemical regulation that phases out the most harmful chemicals�

Our priorities include:

Push for progressive change in the EU.

REACH Revision

Advocacy and Awareness

Continuing to highlight current REACH shortcomings and advocating for a streamlined regulatory process to eliminate hazardous chemicals swiftly.

To increase policymakers’ and the public’s awareness of the chemical pollution crisis, we will particularly focus on the economic advantages of safe and sustainable chemical laws.

Legal identification of Endocrine-Disrupting Chemicals

Legislative Opportunities

We will leverage opportunities presented by revising product legislation, such as the EU Toy Safety Regulation, to advance our agenda of preventing harmful chemicals from being used in consumer products.

Ensure that the new rules for classifying endocrinedisrupting chemicals are implemented.

Group Restrictions

Urging rapid controls on chemical groups, focusing efforts on the PFAS and bisphenols.

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Prevent the UK from falling behind the EU

Awareness Raising

Continue to work with UK health and environmental NGOs to increase awareness of chemical pollution among the public and decision-makers.

Campaign for PFAS Restrictions

Advocate for restrictions on PFAS, aligning with EU proposals and raising public concern through advocacy and supporting media work.

Highlight Regulatory Gaps

Use national media, influential bodies, and parliamentary channels to spotlight areas where the UK lags behind the EU in chemical protection standards.

Advocate for Regulatory Improvements

Engage with governmental processes to advocate for improvements in UK chemical regulation.

Endocrine-disrupting chemicals

We will focus on matching improvements delivered at the EU level to better identify and regulate endocrine disruptors, including a specific campaign on plans to phase them out of toys.

Stronger chemical protections worldwide

Now that the EU has introduced new hazard classes for endocrine-disrupting chemicals into its Classification, Labelling, and Packaging legislation, the next step is to ensure these classes best defend humans and wildlife from harmful chemical pollution by implementing these laws globally. In 2025, we will continue to support the OECD and Globally Harmonised System processes to make the scientific case for adopting these classes. We will also continue to support NGO allies working specifically at the global level on chemical safety.

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Statement by the Trustees

The Trustees, who are also directors of the Company for the purposes of the Companies Act, and trustees for charity law purposes, present their combined directors’ report and annual report and financial statements of CHEM Trust for the year ended 31st December 2024. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102.

Registered Company number 05933897 (England and Wales)

Registered Charity number 1118182

Registered office Impact Hub London Euston,

1 Triton Square, London, NW1 3DX, United Kingdom

Trustees

Staff

Team members not based in the UK

Auditor

Knox Cropper LLP, 65-68 Leadenhall Street, London, EC3A 2AD

Bankers

The Co-Operative, Bank, PO Box 101 1 Balloon Street, Manchester, M60 4EP

Insurance Brokers

PIB Insurance Brokers

Southgate House, Southgate Street Gloucester, GL1 1UB

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Structure and Governance

Governing Document

The Memorandum and Articles of Association of CHEM Trust.

Organisation

The activities of CHEM Trust are overseen by the Trustees.

Selection of Trustees

On 27th September 2024, six new trustees were appointed to the board, bringing fresh perspectives and expertise to the charity. Their selection was carried out in accordance with our governing document and recruitment policies, ensuring a diverse and skilled leadership team to support our mission. The appointment process took into account candidates’ experience, commitment to our objectives, and ability to contribute effectively to the governance and strategic direction of the organisation.

Policies and procedure for training and induction of Trustees

Our Trustees are recruited for their experience, including on the Boards of other pertinent organisations. We also take all new trustees through an in-depth induction process and offer external training when appropriate.

Organisational structure of the charity

The Executive Director is responsible for leading day-to day operations and agreeing strategy with the Board. He is supported by a Senior Management Team.

Related Parties

The trustees consider that there are no related parties other than themselves.

Risk Management

The Executive Director and SMT own the organisation’s Risk Register. The currency of the risks stated and their mitigation status are reviewed regularly by SMT and by the relevant SubCommittees of the Board, as well as by the Full Board annually. Mitigation measures are in place and are continually strengthened for the major risk areas for CHEM Trust around funding income and financial management, data cybersecurity, reputation, people recruitment, retention of and management of staff.

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Financial Review

Reserves Policy

CHEM Trust carries out its reserves policy in accordance with the guidance set out by the Charity Commission. The purpose of maintaining reserves is to ensure the financial stability and sustainability of the organisation, enabling us to continue delivering on our mission even during times of uncertainty or funding gaps.

Reserves are reviewed annually by the Board of Trustees, taking into account current and future operational needs, risks, and strategic plans. The policy ensures that reserves are sufficient to cover essential operational costs, including staff and core activities, for a minimum defined period and to enable us to maintain our resilience in a difficult external and funding environment.

CHEM Trust distinguishes between restricted and unrestricted funds, with this reserves policy referring specifically to the unrestricted, freely available reserves. The reserves level is assessed in relation to potential risks, such as delays in grant funding, unexpected expenditures, or changes in income.

Value of reserves

Given our current annual expenditure of approximately £1,220,242 (equivalent to £101,686 per month) and the organisation’s ongoing growth, the trustees recommend that our reserves should fall within the range of £945,000 to £1,050,637, representing approximately 9 to 10 months of operating costs. The target reserves for 2024 are therefore set within this range. The actual unrestricted reserves position as of 2024 is £976,671.1.

Authority, Monitoring and Reporting

Ongoing monitoring of the reserves is undertaken during the year by the Fundraising, Finance, Audit and IT Committee. At the time of mid-year financial results when budgets are revisited, the reserve position, including how funds are allocated, is reported to the Board.

Investments

Our main bank account is with the Co-Operative Bank which has a high standard of corporate responsibility. We also have accounts with: Unity (current and savings) Triodos (savings) and Scottish Widows (savings). During the year we began exploring new ways to maximise the return on our money while ensuring it is completely safe.

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Financial Review

Fundraising Strategy

Aside from our initial start-up grant from WWF-UK in 2007, the majority of our funding has come from trusts and foundations, mainly based in the UK, EU and US. We are starting to investigate new funding streams but we are at a very early stage of doing this.

We currently have some 21 regular funders, many of whom have been funding us for many years. We never take any funders for granted and work hard on our ongoing relationships with them. CHEM Trust has more than doubled its income over the past five years even though securing funding for chemical pollution work that is technical and hard to understand is difficult and time-consuming. Chemical pollution work is one of the most underfunded environmental issues in the UK; the Environmental Funders Network’s “Where the Green Grants Went” calls it a Cinderella issue. Further, our impact timeline is very long; it can sometimes take decades to make significant progress towards banning a particular chemical because chemicals policy is complex, involving many vested parties.

Funders may request specific, short-term outcomes to be delivered within a short period. We cannot promise a certain chemical will be banned within a particular timeframe, much as we would like to do so! Each year, the plan we follow is to try to retain our current funders and recruit 1-2 new funders.

Statement of the Trustees

The trustees (who are also the directors of CHEM Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and Charity law require the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, relating to small companies,

By Order of the Trustees

14 August 2025

Sharon Darcy (Chair)

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Independent auditor’s report to the trustees of CHEM Trust for the year ended 31 December 2024

Opinion

We have audited the financial statements of CHEM Trust (the ‘charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities (including the income and expenditure account), the balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion..

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Independent auditor’s report to the trustees of CHEM Trust for the year ended 31 December 2024

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified any material misstatements in the directors’ report included within the trustees’ report.

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

Responsibilities of trustees

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

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

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Independent auditor’s report to the trustees of CHEM Trust for the year ended 31 December 2024

Auditor’s responsibilities for the audit of the financial statements

• We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

• The audit team, which is experienced in the audit of charities, considered the charitable company’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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 the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Shoaib Arshad (Senior Statutory Auditor) for and on behalf of Knox Cropper LLP (Statutory Auditor) Shoaib Arshad Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London, EC3A 2AD

18 August 2025

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CHEM Trust Statement Of Financial Activities (Incorporating An Income And Expenditure Account) For The Year Ended 31st December 2024

----- Start of picture text -----
Notes Unrestricted Restricted Total 2024 Unrestricted Restricted Total 2023
funds £ funds £ £ funds £ funds £ £
INCOME FROM
Grants and donations 2 883,602 424,436 1,308,038 811,744 427,697 1,239,441
- -
Charitable activities 595 595 8,039 8,039
- -
Interest 7,559 7,559 5,833 5,833
TOTAL 891,756 424,436 1,316,192 825,616 427,697 1,253,313
EXPENDITURE ON
- -
Raising funds 86,705 86,705 97,202 97,202
Charitable Expenditure 709,101 424,436 1,133,537 645,605 381,470 1,027,075
TOTAL 3 795,806 424,436 1,220,242 742,807 381,470 1,124,277
-
Net Income/(Expenditure) for the year 95,950 95,950 82,809 46,227 129,036
- - - - - -
Transfers between funds
-
TOTAL 95,950 95,950 82,809 46,227 129,036
Total Funds Brou ht Forward 880,721 105,301 986,022 797,912 59,074 856,986
g
Total Funds Carried Forward 976,671 105,301 1,081,972 880,721 105,301 986,022
----- End of picture text -----

The company’s income and expenditure all relate to continuing activities. The notes form part of these financial statements.

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CHEM Trust Balance Sheet (As At 31st December 2024)

----- Start of picture text -----
Notes 2024 2023
£ £ £ £
FIXED ASSETS
5 5,980 10,020
CURRENT ASSETS
-
Debtors 6 27,386 8,177
Cash at Bank and in hand 1,139,003 1,040,574
1,166,389 1,048,751
CREDITORS: Amounts fallin due within one ear
g y
7 (90,397) (72,749)
NET CURRENT ASSETS 1,075,992 976,002
NET ASSETS 1,081,972 986,022
FUNDS
Restricted Funds 9 105,301 105,301
Unrestricted Funds 8 976,671 880,721
1,081,972 986,022
----- End of picture text -----

The financial statements were approved by the Trustees on 14 August 2025 and were signed on their behalf by:

……………………………….

Sharon Darcy (Chair)

Company Registration Number: 05933897 Charity Registration Number: 1118182 The notes form part of these financial statements

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CHEM Trust Statement of Cash Flow (As At 31st December 2024)

----- Start of picture text -----
2024 2023
£ £
eratin activities:
p g
Cash flows from o
Net cash provided by/(used in) operating activities 90,870 184,672
activities:
g
Cash flows from investin
Dividends and interest from investments 7,559 13,872
-
Purchase of property, plant and equipment (6,846)
Net cash provided by/(used in) investing activities 7,559 7,026
Change in cash and cash equivalents in the reporting period 98,429 191,698
Cash and cash equivalents at the beginning of the reporting period 1,040,574 848,876
Cash and cash equivalents at the end of the reporting period 1,139,003 1,040,574
Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period 95,950 129,036
Depreciation charges 4,040 3,409
- -
(Gains)/losses on investments
Dividends and interest from investments (7,559) (13,872)
(Increase)/decrease in debtors (19,209) 41,703
Increase/(decrease) in creditors 17,648 24,396
Net cash provided by/(used in) operating activities 90,870 184,672
----- End of picture text -----

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

1� Accounting Policies

Basis of preparation of accounts

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Financial Reporting Standard 102 and with the Charities SORP (FRS 102) “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”, and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income

and the amount can be quantified with reasonable accuracy.

Deferred income represents amounts received for future periods and is released to incoming resources in period for which it has been received.

Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all cost related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc. – 20% straight line

Individual fixed assets costing £100 or more are initially recorded at cost.

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

Taxation

The charity is exempt from corporation tax on its charitable activities.

Pension

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Judgements and key sources of estimation uncertainty

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have a significant effect on amounts recognised in the financial statements.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. 2. Voluntary income

2� Voluntary income

----- Start of picture text -----
2024 2023
The analysis of voluntary income for the year is as follows: £ £
Grants 1,308,038 1,239,441
1,308,038 1,239,441
----- End of picture text -----

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

3� Total resources expended

The charitable expenditure of CHEM Trust relates to various projects to highlight the scientific research linking exposure to chemicals to harmful effects on health. The analysis of expenditure is:

----- Start of picture text -----
2024
Raisin funds Charitable activities Total 2024 Total 2023
g
£ £ £ £
Direct costs
-
Fundraising 27,039 27,039 25,866
- - -
Web management and IT support 17,047
-
Cost of Experts 230,505 230,505 246,502
-
Grants payable 58,871 58,871 66,848
-
eV - Administration 45,903 45,903 68,391
- - - -
Project costs
-
Meetings and events 20,050 20,050 25,283
-
Travel and expenses 28,762 28,762 23,333
- -
Publications and membership 13,133 13,133
-
Foreign currency 10,709 10,709 14,297
(gains)/losses 27,039 407,933 434,972 487,567
Support costs
Employment costs 59,666 536,991 596,657 533,290
- -
Professional fees 84,833 84,833
-
Other staff costs 15,609 15,609 20,789
-
HR consultancy 2,916 2,916 14,990
-
Insurance 4,383 4,383 3,567
- - -
Bookkeeping 9,788
-
Office expenses & PPS 42,701 42,701 41,696
- -
Communication 22,638 22,638
-
Audit fee 8,257 8,257 9,180
- -
Legal and governance 3,002 3,002
- -
Bank charges 234 234
Depreciation 4,040 4,040 3,410
59,666 725,604 785,270 636,710
86,705 1,133,537 1,220,242 1,124,277
----- End of picture text -----

Professional fees includes temporary executive support through an interim COO contracted via an agency.

----- Start of picture text -----
2024 2023
Governance costs included in Charitable activities: £ £
-
Legal and governance 3,002
-
Bookkeeping fee 9,788
Audit fee 8,257 7,740
11,259 17,528
----- End of picture text -----

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

PRIOR YEAR

----- Start of picture text -----
2023
Raisin funds Charitable activities Total 2023
g
£ £ £
Direct costs
-
Fundraising 25,866 25,866
-
Web management and IT support 17,047 17,047
-
Cost of Experts 246,502 246,502
-
Grants payable 66,848 66,848
-
eV - Administration 68,391 68,391
- - -
Project costs
-
Meetings and events 25,283 25,283
-
Travel and expenses 23,333 23,333
-
Foreign currency 14,297 14,297
(gains)/losses 25,866 461,701 487,567
Su ort costs
pp
Employment costs 71,336 461,954 533,290
-
Other staff costs 20,789 20,789
-
HR consultancy 14,990 14,990
-
Insurance 3,567 3,56
-
Bookkeeping 9,788 9,788
-
Office expenses & PPS 41,696 41,696
- - -
PR Communication
-
Audit fee/IE fee 9,180 9,180
- - -
Bank charges
-
Depreciation 3,410 3,410
71,336 565,374 636,710
97,202 1,027,075 1,124,277
----- End of picture text -----

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

4� Staff and Related costs

----- Start of picture text -----
2024 2023
£ £
Wages and Salaries 507,018 452,065
Social Security Costs 48,062 43,263
Pension Costs 41,577 37,962
596,657 533,290
The average number of employees during the year was: 13 11
----- End of picture text -----

Two employees received emoluments between £60,000-£70,000 (2023: 2 employees).

The remuneration of Senior Management amounted to £214,614 (2023: £263,592). The Senior Management Team comprises the Executive Director, Fundraising Director, Director of Policy and Advocacy and the Chief Operating Officer.

Trustees Remuneration and Benefits

There were no trustees’ remuneration or other benefits for the year ended 31st December 2024, nor for the year ended 31st December 2023.

Trustees’ expenses

Total reimbursements of expenditure of £345 have been made to two Trustees during the year. No other reimbursements of expenses are due to be made to any of the Trustees in respect of the year (2023: No Reimbursements).

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

5. Tangible fixed assets

----- Start of picture text -----
2024
£
Cost
At 1 January 2024 25,582
-
Additions
-
Disposals
At 31 December 2024 25,582
De reciation
p
At 1 January 2024 15,562
Additions 4,040
-
Disposals
At 31 December 2024 19,602
Net book value at 31 December 2024 5,980
Net book value at 31 December 2023 10,020
----- End of picture text -----

6. Debtors: Amounts falling due within one year

2024
2023
£
£
Accrued income -
8,130
Other debtors 9,288
-
Prepayments 18,098
47
Grants payable 27,386
8,177

7� Creditors: Amounts falling due within one year

2024
2023
£
£
Other Creditors 35,285
30,420
Accruals and deferred income 53,311
41,340
Taxation and
Social Security		 1,801
989
90,397
72,749

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

8. Unrestricted funds

----- Start of picture text -----
Balance Transfers Net Incoming Balance
01/01/24 Resources 31/12/24
£ £ £
-
General funds 830,721 95,950 926,671
Designated funds – Chemicals, - -
50,000 50,000
Strategy & Policy Fund
-
880,721 95,950 976,671
Balance Transfers Net Incoming Balance
Comparative 2023
01/01/23 Resources 31/12/23
-
General funds 747,912 82,809 830,721
Designated funds – Chemicals, - -
50,000 50,000
Strategy & Policy Fund
-
797,912 82,809 880,721
----- End of picture text -----

Chemicals, Strategy & Policy Fund £50,000 was designated towards the cost of the EU chemicals policy experts.

9� Restricted funds

----- Start of picture text -----
Balance Income Expenditure Transfers Balance
01/01/24 31/12/24
£ £ £ £ £
Other grants 87,498 91,600 (91,600) 87,498
- -
EURENI 48,044 (48,044)
Tides Foundation 17,803 78,666 (78,666) 17,803
- -
Flotilla Foundation 64,920 (64,920)
- -
Lund Trust 100,000 (100,000)
- -
Adessium Foundation 41,206 (41,206)
105,301 424,436 (424,436) 105,301
Balance Income Expenditure Transfers Balance
Comparative 2023
01/01/23 31/12/23
-
Other grants 66,306 76,600 (55,408) 87,498
- -
EURENI (10,945) 111,144 (100,199)
-
Tides Foundation 3,713 80,115 (66,025) 17,803
- - -
Flotilla Foundation 139,838 (139,838)
- - -
Polden-Puckman Charitable Foundation 20,000 (20,000)
59,074 427,697 (381,470) 105,301
----- End of picture text -----

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

Anonymous Funding - funding for continuing to shift policy on persistent marine pollutants at EU level.

Tides Foundation – funding for PFAS outreach and education.

EURENI – This budget discrepancy was as a result of issues with VAT after Brexit that we are in the process of resolving

Flotilla Foundation – funding in support of the ‘Improving the EU’s world leading Chemicals Regulation and keeping the postBrexit UK at the same level’.

Polden-Puckman Charitable Foundation – ufnding for salary cost of internship role for vital organisational support.

10� Analysis of net assets between funds

----- Start of picture text -----
Restricted Un-Restricted Total 2024
£ £ £
-
Tangible Fixed Assets 5,980 5,980
Net Current Assets 105,301 970,691 1,075,992
105,301 976,671 1,081,972
Com arative 2023 Restricted Un-Restricted Total 2023
p
-
Tangible Fixed Assets 10,020 10,020
Net Current Assets 105,301 870,701 976,002
105,301 880,721 986,022
----- End of picture text -----

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CHEM Trust Notes to the Financial Statements For The Year Ended 31st December 2024

11� Related Party Transactions

A.M. Warhurst, a Director of CHEM Trust, and Ninja Reineke, a team member not based in the UK, are part of the management team of CHEM Trust Europe, a non-profit organisation based in Germany. During 2024 CHEM Trust made grants to CHEM Trust Europe totalling £59,282 (2023: £17,639).

12� Going concern

The trustees have reviewed the financial position of the Trust, and in particular the level of reserves, and on the basis of current projections, they are satisfied that the Trust remains a going concern for the foreseeable future.

CHEMfrust Protecting hLJmans and wildlife from harmful chemicals