DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Company number: 1636817 Charity Number: 284934 Greenpeace Environmental Trust
Report and financial statements For the year ended 31 December 2022
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Contents
| For the year ended 31 December 2022 | |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ annual report | 2 |
| Independent auditor’s report | 14 |
| Statement of financial activities (incorporating an income and expenditure account) | 18 |
| Balance sheet | 19 |
| Statement of cash flows | 20 |
| Notes to the financial statements | 21 |
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Reference and administrative information
| For the year ended 31 December 2022 | For the year ended 31 December 2022 | |
|---|---|---|
| Company number | 1636817 | |
| Country of incorporation | United Kingdom |
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| Charity number | 284934 | |
| Country of registration | England & Wales | |
| Registered office | Canonbury Villas | |
| and operational | London | |
| address | N1 2PN | |
| Trustees | Trustee’s, who are also directors under company law, who served | |
| during the year and up to the date of this report were as follows: | ||
| Steve Warshal | Chair | |
| Deborah Tripley | ||
| Martyn Day | ||
| Colin Hines | ||
| Andrew McParland | ||
| George Macfarlane | ||
| Alison Reynolds | ||
| Company Secretary | Andrew Hatton | |
| Bankers | The Co-operative Bank plc | |
| 1 Balloon Street | ||
| Manchester | ||
| M60 4EP | ||
| Solicitors | Bates Wells & Braithwaite London LLP | |
| 10 Queen Street Place | ||
| London, EC4R 1AG | ||
| Auditor | Haysmacintyre LLP | |
| Chartered Accountants | ||
| 10 Queen Street Place | ||
| London, EC4R 1AG |
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DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
The Trustees present their report and the audited financial statements for the year ended 31 December 2022.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
Purposes and aims
The Trust’s objects, as set out in the governing document, are:
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To educate the public in world ecology
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To educate the public concerning the natural environment and effects on that environment of both natural and other activities whether pursued by man or not
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To conduct and procure research concerning world ecology and the natural environment and the effects on that environment of both natural and other activities whether pursued by man or not and to publish the useful results of that research
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To relieve actual or potential sickness or suffering among both humans and animals which is a consequence of any change to the natural environment whether caused by man or not
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To promote sustainable development for the benefit of the public by the preservation, conservation and protection of the environment, the prudent use of resources and the promotion of sustainable means of achieving economic growth and regeneration
The Trustees review the aim, objectives and activities of the Trust each year in order to ensure that they remain focused on its stated purposes. This report looks at what the Trust has achieved and the outcomes of its work in the reporting period.
The Trust aims to achieve its objectives by funding work that includes education, scientific research, investigations and promoting sustainable development. In the medium to long term the areas of work being prioritised are:
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Climate change, which is affecting all of our lives at this time
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Forests, which are disappearing at an alarming rate and which impact on our climate
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Oceans, where some fish stocks are being depleted through over-fishing, waters are being polluted with toxic chemicals and sea levels are rising as a result of climate change
The Trust works closely with other Greenpeace entities around the world so as to maximise the impact of its charitable work.
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
Grant-making Policy
The primary way in which the Trust aims to achieve its objectives is through making grants to likeminded organisations with purposes and aims similar to the Trust’s. All projects that are funded by the Trust must fall within its charitable objects and they must comply with the relevant statutes and regulations that are applicable to charities in the UK. Projects must also fit into the Trust’s Grantmaking Policy, full details of which can be obtained from the Company Secretary.
The Trust will normally only consider projects that are directly related to the priority work areas shown above, and the Trustees, in the furtherance of the Trust’s objects, have absolute discretion to approve or reject any grant application.
The Trust also has procedures in place to monitor grants made to ensure that they are spent in line with the conditions attached and with the objects of the Trust.
Fundraising policy
The Trust aims to fundraise in the most effective way possible, with much of the effort going into the promotion of legacy giving. The Trust also maintains relationships with a number of trusts and foundations that from time to time provide grants for the Trust’s work. The only third parties used by the Trust in the year for raising funds were payroll giving agencies, which promote and administer individual payroll giving on the Trust’s behalf. Since 2018 the Trust has been providing a free willwriting service to supporters through a third party organisation.
The Trust complies with all relevant fundraising codes of practice and pays an annual levy to the Fundraising Regulator. There has been no non-compliance with any code and no complaints have been received in the year. The Trust does not fundraise from vulnerable people and follows all relevant codes of practice, including the Trust’s own Vulnerable Persons policy.
The quality of services provided by third party fundraisers is set by contracts held with these organisations, with actual performance reviewed by the relevant fundraising manager. The Trust has a formal process whereby the supporter services team provide the fundraising director with monthly information about all supporter feedback categorised to specific fundraising activities, and a formal complaints process which would identify any issues or complaints and bring them to the attention of the fundraising director.
Public Benefit
Although the beneficiaries of the Trust’s work are not restricted to any particular section of the global population, the Trust does direct more funding towards those areas of the world where environmental degradation is at its worst and towards areas of the world where the impact of environmental degradation may be greatest. In practice, this means that a greater proportion of the Trust’s funding is directed towards work in the developing world. The Trust has also funded work in more developed areas of the world where understanding of the benefits of environmental protection to humans and animals are less-well appreciated.
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
Because the Trust funds projects that have global, rather than local compass, the outcomes are, by their very nature, felt in the longer term, rather than demonstrating any instant benefit in one place, or to any single group of people or animals. The Trust aims to protect the global environment rather than the conservation of any single habitat. Halting the impact of climate change is a long-term task, and the benefits of that work will only be felt in future years.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.
Strategic report
Achievements and performance in the delivery of public benefit
The Trust met its strategic objectives during the year by funding a wide range of projects that were consistent with our mission. In this respect we funded projects in the areas of education, scientific research and investigations, and the promotion of sustainable development.
Fundraising to the Trust performed well, despite some challenges, and total Trust income for 2022 was £8.1m compared to £11.8m in 2021.
Legacy income
2022 has been a blip of a year for legacy income, coming after our best ever result in 2021. Although this was largely expected because of large chunks of income being drawn from our pipeline earlier than expected, the remaining income performance was depressed and with no new large legacy notifications to top up the pipeline.
We have had very little income from existing high value cases which have taken longer to complete than normal and which will now only pay out in 2023. Besides that our normal value gift pay-outs have been of lower value and slower to be received than expected. With accruals and an unexpected payment of £200k from a nil value case we should end the year at around £2.4 million, which was in line with expectations.
A very positive piece of news from this year though is that we have seen excellent notification numbers of normal value legacies. We have exceeded our recent average of 120 cases per year with 166 new notifications which gives us an excellent position to begin 2023, and confidence that 2022 was an abnormality. This increased number of notifications is a strong indication that our recent investment in legacy marketing is starting to pay off. We know from sector analysis that legacy investment starts to pay off after 5 to 7 years. We first increased our investment in 2015 so it’s highly likely the increased notifications last year are a direct result of this work.
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
Major gifts income
Our work to maintain and develop our major gifts programme was impacted by the delay in appointing a permanent Executive Director during 2021. We started the year with lots of leadership in interim positions and donors wanting to know who the new leader would be. The team navigated it and Pat Venditti stepped up to enable our most important relationships, including with the People’s Postcode Lottery and the Oceans Board, to stay strong. Some donors did hold off giving after the departure of John Sauven and a couple will probably not give again, but overall the programme has flourished and will continue to do so all the time we have an experienced and wellresourced team to hold great events and built 121 relationships, alongside having strong and effective campaigns to gain support for.
Of note - we secured the first £1.5m of a three year commitment from the PPL, the first payment of a £2m gift (over four years) from The Moondance Foundation and continue to identify and qualify new prospects capable of giving over £10k every month to build our pipeline of new donors.
Grant making
Grants to the value of £8.1 million were awarded to the following organisations for the projects described below.
Education
People and Planet
The Trust provided People and Planet with the first year of funding of a three-year grant. The overall aim of this three-year project is to enable a new generation of students to become a force for change in achieving global social and environmental justice, through providing education about environmental issues, supporting and inspiring students to develop confidence enabling them to make a difference, and bringing about long-lasting change in environmental policies and practices through collaborative campaigning.
Green Alliance
The Trust awarded a fourteen-month grant to Green Alliance towards the work of Greener UK, a coalition formed to ensure that environmental protections were maintained and enhanced during the Brexit process. The aim of this final phase will ensure the new environmental governance system is firmly established to deliver environmental improvements and that key aspects of regression are identified and resisted.
Dr Paul Dorfman and the Nuclear Consulting Group
The Trust awarded the first year of funding of a two-year grant to Dr Paul Dorfman and the Nuclear Consulting Group for a project to steer UK and pan-EU, international policy and community away
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
from risky and uneconomic nuclear power and towards a more sustainable and cost-effective renewable and energy efficient future.
Additionally, the Trust also awarded a further one-year grant to Dr Paul Dorfman and the Nuclear Consulting Group to allow improved sustainability of the current operation, as well as creating a network for the UK Green Taxonomy issue.
Greenpeace Africa
The Trust awarded Greenpeace Africa the first year funding of a four-year grant towards a project focussed on creating physical meeting places in Kenya and South Africa and tools for learning through doing, to provide both the conditions to allow young people to get involved in environmental and climate issues, and collaborate digitally in a young international influence network.
Together against Sizewell C
The Trust awarded a one-year grant to Together Against Sizewell C to assist them in their work in challenging the UK government’s decision to grant a development consent order (DCO) for the construction of Sizewell C to go ahead. The project involved monitoring the situation at Sizewell C and developments in energy policy and raising awareness of issues to supporters and the wider public. Through written submissions questioning the need for nuclear power and the effects on local marshes, RSPB reserves and the coast as well as securing experts to conduct scientific research to support this.
Edinburgh Energy & Environmental Consultancy
The Trust awarded the second-year funding of a three-year grant to Edinburgh Energy & Environmental Consultancy to assist them in providing a daily news information service, to those engaged in detailed policy debates, regarding the best routes for decarbonisation.
Scientific Research and Investigations
GeneWatch UK
The Trust awarded GeneWatch UK a further one-year grant, for a project which has two aims. The first is to enable GeneWatch UK to continue to disseminate an accurate account of recent developments in the genetic modification of crops and animals, and the second, to encourage an informed debate to take place on the role of biotechnology in development of agriculture, and in achieving the aim of global food security.
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
United Kingdom Without Incineration Network (UKWIN)
The Trust awarded UKWIN the second-year funding of a two-year grant and the first-year funding of a new two-year grant, for a project that aims to bring about an end to the incineration of mixed waste by supporting public participation in environmental decisions and access to environmental information relating to incineration and resource management, including through education and advocacy.
The Trust also awarded UKWIN a further one-year grant towards additional strategic and grassroots support for environmental work relating to opposing waste incineration to include creation of a local group support fund.
Greenpeace International Science Unit Exeter
Funding to the Greenpeace International Science Unit in Exeter contributed to key scientific research and investigations priorities, divided into 11 workstreams, across the campaign areas of climate urgency, energy transition and biodiversity: (i) Climate Emergency response: Support priority work on Climate Emergency Response and Climate Justice and Liability to highlight and review new scientific developments. (ii) Climate, carbon and biodiversity: Examining nature-based solutions and links to protection of biodiversity. (iii) Fossils fuels and pollution: Contribute to the investigation of toxifying fossil fuels through forensic analysis of the polluting impacts of their use in the energy, industry and transport sectors. (iv) Implications of the energy transition: Research how to meet or avoid the growing demands for metals, non-recyclable composites, green hydrogen and other materials associated with the shift to renewables. (v) Oceans, biodiversity and climate: Build understanding of the role of marine ecosystems in cycling and storing carbon and the co-benefits of protecting biodiversity and the climate. (vi) Sustainable land use for the climate: Explore the cobenefits of climate and biodiversity protection and reduced air, soil and water pollution in relation to forest protection and sustainable food systems. (vii) Pinning plastics to fossil fuels: Follow the problems of unsustainable production and consumption back to the source and uncover the myths behind chemical recycling for mixed plastics waste streams. (viii) Toxifying the oil and gas industry: Build on long-standing technical work to demonstrate the scientific consequences of weak regulation of the offshore oil and gas sector, exposing industry attempts to roll back regulation. (ix) Internal support: support, enable and elevate the Greenpeace global network by exploring science's inherent value in engagement, making targeted use of scientific investigations, and contributing to a wider body of scientific research. (x) Duty of Care: provide scientific and technical advice on the impacts of Covid-19 both on the environment and the role of ecosystems and on how we live and work in a pandemic, (xi) Future fleet: provide scientific and technical advice on the scientific requirement and sustainable fuel to options for the Greenpeace International future seagoing fleet.
Promotion of Sustainable Development
Greenpeace International Brazil Development
Funding to Greenpeace International Brazil Development was provided to support work in the priority campaign area of forests biodiversity, with project work focussing on the Amazon. The
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
project work had three objectives, the first is responding to deforestation, through monitoring and research, contributing to ambitious goals to reduce deforestation by 50%. The second objective was to establish protected areas, by the end of 2022 making initial progress on the creation of a new protected area increasing the level of protection to 389,000 hectares of Amazon rainforest, and contributing to a more ambitious goal of establishing protected areas of the AMACRO (Amazonia, Acre and Rondônia) focus area in coming years. The third and final objective was to raise awareness of forest fires, and exposing through documentation and investigations, who is responsible for the destruction.
Greenpeace International East Asia Development
Funding to Greenpeace International East Asia Development contributed to a number of projects within the priority campaign area of Climate urgency. Project work involved: engaging and raising awareness to educators and learners on climate issues, through developing an online Green Futures Academy (GFA), providing creative learning materials and resources in climate urgency and environment; developing previous research work on scientific background on how the human mind individually, and in its psycho-social context, responds to disruption and crisis; Strengthening the social fibres connection to climate change through increasing the emotional connection of climate to people, connecting with networks of influencers to raise awareness, increasing the perception for key audiences that climate change is personally relevant to them, their wellbeing and culture identity; close the gap between disaster and climate change in the public perception and awareness of climate issues, through enhancing the perception of the climate emergency and systemic risks, educating and raising awareness to the public.
Greenpeace International South East Asia Development Project
Funding to Greenpeace International South East Asia development contributed to a number of projects within the priority campaign areas of Biodiversity and Climate urgency. Project work involved: educating and raising awareness to youth and other citizens of their rights in cities, educating Thai millennials to support healthy food environment and health, by capitalising on the current consciousness for health brought about the pandemic; building support for stronger renewable energy policies and renewable commitments by key cities and provinces, through research, highlighting real solutions and exposing the lack of transparency; raising awareness to young people in Jakarta of the impacts of air pollution on their health and the city, and research and investigations work to contribute to an immediate and urgent transition to a green, just and climate resilient economy.
Greenpeace International Global Programme
The Trust provided funding in 2022 to the Greenpeace International Global Programme for projects in two key areas, Climate urgency and Oceans, focussing on eight projects. Firstly, conducting research on the impacts of the climate crisis on Antarctic penguin colonies, identifying vulnerable ecosystems and raising awareness of unethical shark fishing practices, ensuring voices of coastal communities are heard. The second involved investigative work and raising awareness of the
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
dangers of deep sea mining, exposing destructive practices. The third, was to raise awareness of the unique Andino ocean ecosystems, exposing threats of the offshore oil industry. The fourth was to provide Geographic Information Services (GIS) and Remote ensuing (RS) support to Greenpeace global offices, developing a series of digital and static maps. The fifth project was to raise awareness globally of the impact the FSO Safer poses to the environment. The sixth was a project researching the shift in societal mindsets towards environmental issues, in order to help Greenpeace globally achieve biodiversity and climate goals. The seventh was to raise awareness and educate the public on issues concerning air quality, highlighting the impact and costs of air pollution and alternative scenarios of renewables and other sustainable economic activities. The eighth and final project was to build upon awareness among the public against plastic and the shift away from single-use plastic business models, giving voices to impacted communities living in areas of petrochemical expansion projects.
Greenpeace Ltd
Support for the work carried out by Greenpeace Ltd continued, covering climate, oceans, plastics, Unearthed investigations and the Greenpeace Speakers programme. One area was through pioneering research and investigations used to accelerate a just transition away from fossil fuels and undermining the industrial food system on land and at sea. Another significant focus was ocean ecosystems aiming to build on the momentum already created, working to secure a strong UN agreement for global protection that creates the conditions needed to secure 30% of the oceans offlimits by 2030. Also supporting another NGO in undertaking research, documentation and community engagement in Scotland, aiming to gather evidence of seabed habitats damaged by bottom trawl and dredge fisheries, as well as healthy sea beds. Also, work towards conducting the UK’s biggest ever investigation into household plastic, inviting the public to become aware of their own plastic footprint and gather the evidence needed for targets to reduce single-use plastic by 50% by 2025 and creating a ban on sending UK waste to other countries. A further area was supporting investigations undertaken by Greenpeace’s award-winning investigative journalism unit, which focussed on two areas, investigations in Africa and Brazil, responding to the escalating crises and supporting international investigations and improving Greenpeace Ltd’s investigative capacity through sharing resources with other investigative units. Finally, work to engage the next generation of Greenpeace speakers was supported, a project designed to deliver workshop style talks to develop skills in creative campaigning as well as awareness of the issues Greenpeace is campaigning on, increasing the reach of the programme and diversifying the audience.
Financial review
Total income for the year under review was £8.1 million, which is a decrease of approximately 31.2% on the previous year. The primary factor behind this decrease was a reduction in legacy income during the year.
Cost of generating income was 19% less than in the previous year due to a reduction in legacy marketing and People’s Postcode Lottery stewardship costs incurred by the Trust.
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
The amount of grants made during the year increased on the previous year’s amount, at £8.1 million compared with £7.8 million in 2021. The increase is due to an increase in grant applications for UK and international projects, compared with 2021. The Trust will aim to ensure grant expenditure continues to be in excess of its expected income on charitable activities in the next few years, in line with its medium-term plan to reduce reserves to its target range.
Principal risks and uncertainties
The Trustees review the risks that the Trust faces on an annual basis and maintain an up to date risk register to record these risks and the mitigating actions that are available in order to minimise the potential harm that the risks could cause.
The Trustees have identified the two main risks the Trust faces as being firstly, the risk to the Trust’s reputation from actions taken elsewhere in the world by other Greenpeace entities over which the Trust has no control, and secondly the risk that the Trust has insufficient funds to pay agreed grants due to fluctuations in income.
The first mitigated by the Trust, maintains a clear and strict separation between its activities and those of other Greenpeace entities. The second mitigated, by only approving grant awards when the Trust has sufficient funds to pay them, or has sufficient certainty that funds will be available on the date that grant awards have to be paid to the recipient.
Reserves policy and going concern
The Trustees have set a reserves policy to ensure that the Trust is able to continue fundraising, management, governance and administration for one year during any unforeseen difficulties. At present this is in the range £366,273 - £488,364, which is equivalent to less than one month’s budgeted income. The current level of unrestricted reserves of £3,241,054 is in excess of this target range, due to income being greater than anticipated in recent years, however the Trust still has a medium term plan to reduce the level of reserves to its target range by maintaining the amount spent on grants and by aiming to ensure that it is in excess of income.
The Trust’s reserves are based on the value of unrestricted general funds only. These funds can be applied to the Trust’s running costs, which include costs that are associated with fundraising. The endowment and any restricted funds are not part of the Trust’s general reserves, since they are limited in application to the purposes specified by the original donors.
The general reserves of the Trust are held in cash deposit accounts in the UK. This is to ensure that funds are available to meet the Trust’s objectives at short notice if necessary; to minimise the risk of a reduction in value; and to avoid potential conflicts of interest if funds were invested in the shares of companies engaged in activities that are harmful to the environment. This policy is reviewed annually.
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
Future plans
The Trust will continue to maintain cost effective fundraising and administrative services that are currently undertaken by a legacy administration consultant, who is supported by services donated by Greenpeace Ltd. Fundraising efforts in particular will continue to be concentrated on the promotion of legacies, which accounts for a substantial proportion of the Trust’s income. Work will also continue to secure more grants from trusts and foundations. The main area of uncertainty in future running costs relates to the legal fees that are associated with legacies, where the Trustees are under a legal obligation to secure the Trust’s interests.
Given the costs involved, the Trust does not operate a membership scheme for our many supporters, but continues to use the services of professional fundraising agencies to promote Payroll Giving and Gift Aid, though only to the extent that these services are efficient and cost effective.
The Trust plans grant expenditure at a level that is designed, when taken with projected income, to achieve its reserves target within the medium term. With reserves above the level required, budgets for grant expenditure will remain higher than budgeted income for the next few years. Grant expenditure is only made from within existing uncommitted cash resources, and is therefore subject to the level of reserves available and the Trust achieving its income forecasts. The Trust will only commit to grants which it can be certain of funding in full. In the event that income falls below the level projected, grant expenditure would be reduced in future years.
Grants will continue to be made in line with our existing grant policy. The Trustees have agreed that most expenditure over the coming years will continue to address global environmental concerns around the world, with a growing emphasis on work in the developing world, and on the promotion of solutions to our global environmental problems.
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 20 May 1982 and registered as a charity on 22 June 1982.
The members of the company guarantee to contribute an amount not exceeding £1 to the assets of the company in the event of winding up. The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.
The Trust was established under a memorandum of association, as amended by Special Resolution on 18 July 2007, which established the objects and powers of the charitable company and is governed under its articles of association.
The Trustees, who are also directors under the terms of the Companies Act, all give their time voluntarily and receive no benefits from the charity. The Trustees are reimbursed solely for incidental out of pocket expenses, details of which are shown in note 8 to the accounts. The Trustees who served during the year and up to the date of this report are shown on page 1.
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
The Trustees are legally responsible for the overall management and control of the Trust. Potential Trustees are recommended to the Trust for their knowledge and expertise in matters relating to the environment and other areas such as the law and finance. Trustee appointments are approved by the Board and ratified at the first annual general meeting thereafter, and there is an induction policy for new Trustees. The Trustees meet at least three times a year and all grants that are awarded by the Trust must be approved by them. The Secretary carries out the implementation of the Trustees’ policies, and oversees the daily management of the Trust.
The Trustees also appointed the following officers and advisers of the Trust, namely:
Douglas Parr, Science Policy Advisor (Voluntary) Andrew Coates, Finance Advisor (Voluntary) Andrew Hatton, Governance Advisor (Voluntary) Chris Till, Fundraising Advisor (Voluntary) Louise Krzan, Fundraising Advisor (Voluntary) Lucy Male, Legacy Administrator (Consultant)
The Trust has two related organisations. Stichting Greenpeace Council (“Greenpeace International”) and Greenpeace Ltd, which provides office space, office services, management and some fundraising services at no direct charge to the Trust.
An exercise to estimate the cost of the free services provided by Greenpeace Ltd has been undertaken and these estimates have been included in the financial statements and related notes as donated services.
Statement of responsibilities of the Trustees
The Trustees (who are also directors of Greenpeace Environmental 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 requires 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 these financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Greenpeace Environmental Trust
Trustees’ annual report
For the year ended 31 December 2022
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware:
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There is no relevant audit information of which the charitable company’s auditor is unaware; and
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The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information .
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 United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The Trustees have no beneficial interest in the charity.
Auditor
Haysmacintyre LLP were appointed as the Trust’s auditors and have indicated their willingness to continue in office and offer themselves for re-appointment in accordance with the Companies Act 2006.
The Report of the Trustees has been prepared in accordance with the special provisions applicable to companies’ subject to the small companies' regime.
Approved by the Trustees on 13[th] March 2023 and signed on their behalf by
Steve Warshal Chair of Board of Trustees
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Independent auditor’s report
To the members of
Greenpeace Environmental Trust
Opinion
We have audited the financial statements of Greenpeace Environmental Trust for the year ended 31 December 2022 which comprise Statement of Financial Activities, Balance Sheet and 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:
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give a true and fair view of the state of the charitable company’s affairs as at 31 December 2022 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements
14
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Independent auditor’s report
To the members of
Greenpeace Environmental Trust
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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees’ Annual Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept by the charitable company; or
-
the charitable company financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees’ remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
• the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
Responsibilities of trustees for the financial statements
As explained more fully in the trustees’ responsibilities statement set out on pages 12 and 13, 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
15
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Independent auditor’s report
To the members of
Greenpeace Environmental Trust
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 charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
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.
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:
Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Charity Law, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to . Audit procedures performed by the engagement team included:
-
Inspecting correspondence with regulators;
-
Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
-
We reviewed minutes of meetings of those charged with governance
-
Evaluating management’s controls designed to prevent and detect irregularities;
16
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Independent auditor’s report
To the members of
Greenpeace Environmental Trust
-
Identifying and testing journals, in particular journal entries posted around the year end, postings by unusual users or with unusual descriptions; and
-
Challenging assumptions and judgements made by management in their critical accounting estimates in particular with regards to recognition of legacy income
-
We reviewed the financial statements disclosures to ensure compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
Adam Halsey (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditor London Date: 31 March 2023 EC4R 1AG
17
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 December 2022
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities Education 5 Scientific research and investigation 5 Promotion of sustainable development 5 Net income for the year 7 Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward Reconciliation of funds: Net income before net losses on investments Total expenditure |
Unrestricted £ 5,746,320 17,699 |
Restricted & endowment £ 2,349,320 576 |
2022 Total £ 8,095,640 18,275 |
2021 Total £ 11,804,622 2,539 |
|---|---|---|---|---|
| 5,764,019 | 2,349,896 | 8,113,915 | 11,807,161 | |
| 521,554 127,653 459,858 5,954,076 |
1,577,868 | 521,554 127,653 459,858 7,531,944 |
640,046 111,874 394,755 7,342,434 |
|
| 7,063,141 | 1,577,868 | 8,641,009 | 8,489,109 | |
| (1,299,122) | 772,028 | (527,094) | 3,318,052 | |
| (1,299,122) (50,000) |
772,028 50,000 |
(527,094) - |
3,318,052 - |
|
| (1,349,122) 4,590,176 |
822,028 1,476,582 |
(527,094) 6,066,758 |
3,318,052 2,748,706 |
|
| 3,241,054 | 2,298,610 | 5,539,664 | 6,066,758 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16 to the financial statements.
18
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Company no. 1636817
Greenpeace Environmental Trust
Balance sheet
As at 31 December 2022
| Note Current assets Debtors 11 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 12 Net current assets Total net assets The funds of the charity 14 Restricted income funds Endowment funds Unrestricted income funds General funds Total unrestricted funds Total charity funds |
£ 566,803 5,015,407 |
2022 £ 5,539,664 |
£ 332,230 5,760,747 6,092,977 26,219 4,590,176 |
2021 £ 6,066,758 |
|---|---|---|---|---|
| 5,582,210 42,546 |
||||
| 3,241,054 | ||||
| 5,539,664 | 6,066,758 | |||
| 2,154,008 144,602 3,241,054 |
1,332,556 144,026 4,590,176 |
|||
| 5,539,664 | 6,066,758 |
Approved by the trustees on 13th March 2023 and signed on their behalf by
Steve Warshal Trustee
19
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Statement of cash flows
For the year ended 31 December 2022
Reconciliation of net income to net cash flow from operating activities
| Net income for the reporting period (as per the statement of financial activities) Dividends, interest and rent from investments (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash provided by / (used in) operating activities Note Cash flows from operating activities Net cash (used in) / provided by operating activities Cash flows from investing activities: Dividends, interest and rents from investments Net cash provided by investing activities Change in cash and cash equivalents in the year 15 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
£ £ (763,615) 18,275 18,275 (745,340) 5,760,747 5,015,407 2022 |
£ £ (763,615) 18,275 18,275 (745,340) 5,760,747 5,015,407 2022 |
2022 2021 £ £ (527,094) 3,318,052 (18,275) (2,539) (234,573) 721,023 16,327 (9,201) (763,615) 4,027,335 £ £ 4,027,335 2,539 2,539 4,029,874 1,730,873 5,760,747 2021 |
2021 £ 3,318,052 (2,539) 721,023 (9,201) |
|---|---|---|---|---|
| 4,027,335 | ||||
| (745,340) 5,760,747 |
4,029,874 1,730,873 |
|||
| 5,015,407 | 5,760,747 |
20
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
1 Accounting policies
a) Statutory information disclosure
Greenpeace Environmental Trust is a charitable company limited by guarantee and is incorporated in the United Kingdom.
The registered office address is Canonbury Villas, London, N1 2PN.
b) Basis of preparation
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 UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (March 2018) 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 or note.
- c) Public benefit entity
The Trust meets the definition of a public benefit entity under FRS 102.
d) Going concern
The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
e) Income
Income is recognised when the Trust has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the Trust has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the Trust is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Trust, or the Trust is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
21
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
1 Accounting policies (continued)
- f) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the Trust has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the Trust of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution, if any.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the Trust which is the amount the Trust would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
The only such donations received in the year were services provided by Greenpeace Ltd and included the provision of some office space and time spent by certain Greenpeace Ltd employees. The cost associated with the provision of these services was calculated on the basis of data supplied by Greenpeace Ltd.
g) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the bank.
- h) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
The permanent endowment fund comprises the original capital fund, which was established to provide an income to be spent in accordance with the objectives of the Trust. The capital cannot be converted into income.
i) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
a) Costs of raising funds relate to the costs incurred by the Trust in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
-
b) Expenditure on charitable activities includes the costs of grants to other organisations undertaken to further the purposes of the Trust and their associated support costs
-
c) Other expenditure represents those items not falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
j) Allocation of support costs
Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the central administrative functions, including donated staff time, is apportioned on the basis of an estimate of time spent on each activity.
k) Governance costs
Governance costs are the costs associated with the governance arrangements of the Trust. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the Trust's activities.
22
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
- 1 Accounting policies (continued)
l) Investment properties
Investment properties are measured initially at cost and subsequently included in the balance sheet at fair value. Investment properties are not depreciated. Any change in fair value is recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. The valuation method used to determine fair value will be stated in the notes to the accounts.
m) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
n) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
o) Creditors and provisions
Creditors and provisions are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
p) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
q) Grant making policy
Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.
23
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
- 2 Detailed comparatives for the statement of financial activities
| Education Scientific research and investigation Promotion of sustainable development Total expenditure Net expenditure for the year Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward Total income Income from: Donations & legacies Investments Expenditure on: Raising funds Charitable activities |
Unrestricted £ 9,411,656 2,539 9,414,195 640,046 111,874 394,755 4,964,773 6,111,448 3,302,747 3,302,747 1,287,429 4,590,176 |
Restricted & endowment £ 2,392,966 - 2,392,966 - - - 2,377,661 2,377,661 15,305 15,305 1,461,277 1,476,582 |
2021 Total £ 11,804,622 2,539 |
|---|---|---|---|
| 11,807,161 | |||
| 640,046 111,874 394,755 7,342,434 |
|||
| 8,489,109 | |||
| 3,318,052 | |||
| 3,318,052 2,748,706 |
|||
| 6,066,758 |
- 3 Income from donations and legacies
| Donations Legacies Donated services Grants received |
Unrestricted £ 1,654,165 2,194,137 398,018 1,500,000 5,746,320 |
Restricted £ 1,259,657 - - 1,089,663 2,349,320 |
2022 Total £ 2,913,822 2,194,137 398,018 2,589,663 8,095,640 |
Unrestricted £ 1,364,566 6,719,762 327,328 1,000,000 9,411,656 |
Restricted £ 1,271,640 72,687 - 1,048,639 2,392,966 |
2021 Total £ 2,636,206 6,792,449 327,328 2,048,639 |
|---|---|---|---|---|---|---|
| 11,804,622 |
During the year Greenpeace Environmental Trust received £1,500,000 from People’s Postcode Lottery (PPL) in the form of a grant, included within donations and legacies in the Statement of Financial Activities (2021: £1,000,000).
4 Income from investments
| Income from investments | ||||||
|---|---|---|---|---|---|---|
| Bank interest receivable | Unrestricted £ 17,699 17,699 |
Restricted £ 576 576 |
2022 Total £ 18,275 18,275 |
Unrestricted £ 2,539 2,539 |
2021 Restricted Total £ £ - 2,539 - 2,539 |
|
| 2,539 |
24
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
5a Analysis of expenditure (current year)
| Seconded staff Grants (Note 6) Capital campaign Legacy consultant Legacy administration Legacy promotion Membership, publications and donations Payroll giving promotion PPL Stewardship costs Audit and related fees Bank charges Trustees' meetings Legal and professional fees Other costs Support costs Governance costs Donated services Total expenditure 2022 Total expenditure 2021 |
Cost of raising funds £ - - - 52,983 36,588 46,595 - 4,513 464 - - - - - 141,143 185 1,892 378,334 521,554 640,046 |
Education Scientific Research Promotion of Sustainable Development £ £ £ - - - 126,920 457,214 7,488,644 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 126,920 457,214 7,488,644 166 599 9,808 284 1,024 16,765 283 1,021 16,727 127,653 459,858 7,531,944 111,874 394,755 7,342,434 Charitable activities |
Education Scientific Research Promotion of Sustainable Development £ £ £ - - - 126,920 457,214 7,488,644 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 126,920 457,214 7,488,644 166 599 9,808 284 1,024 16,765 283 1,021 16,727 127,653 459,858 7,531,944 111,874 394,755 7,342,434 Charitable activities |
Governance costs £ - - - - - - - - 16,218 - 1,258 836 - 18,312 - (19,965) 1,653 - - |
Support costs £ - - - - - 8,647 - - - 1,188 - - 923 |
2022 Total £ - 8,072,778 - 52,983 36,588 46,595 8,647 4,513 464 16,218 1,188 1,258 836 923 |
2021 Total £ 18,346 7,796,240 7,200 53,126 27,517 222,625 10,802 3,530 4,595 15,000 1,012 390 836 562 |
|---|---|---|---|---|---|---|---|
| Education £ - 126,920 - - - - - - - - - - - - 126,920 166 284 283 127,653 111,874 |
Scientific Research £ - 457,214 - - - - - - - - - - - 457,214 599 1,024 1,021 459,858 394,755 |
||||||
| 10,758 (10,758) - - |
8,242,991 - - 398,018 |
8,161,781 - - 327,328 |
|||||
| - | 8,641,009 | 8,489,109 | |||||
| - | 8,489,109 |
25
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2021
5b Analysis of expenditure (prior year)
Charitable activities
| Seconded staff Grants (Note 6) Capital Campaign Legacy consultant Legacy administration Legacy promotion Membership, publications and donations Payroll giving promotion PPL Stewardship costs Audit and related fees Bank charges Trustees' meetings Legal and professional fees Other costs Support costs Governance costs Donated services Total expenditure 2021 |
Cost of raising funds £ 8,806 - 7,200 53,126 27,517 222,625 - 3,530 4,595 - - - - - 327,399 883 2,118 309,646 640,046 |
Education £ - 111,121 - - - - - - - - - - - 111,121 300 223 230 111,874 |
Scientific Research £ - 392,098 - - - - - - - - - - - 392,098 1,058 787 812 394,755 |
Promotion of Sustainable Development £ - 7,293,021 - - - - - - - - - - - 7,293,021 19,675 14,638 15,100 7,342,434 |
Governance costs £ - - - - - - - - 15,000 - 390 836 - 16,226 - (17,766) 1,540 - |
Support costs 2021 Total £ £ 9,540 18,346 - 7,796,240 - 7,200 53,126 - 27,517 - 222,625 10,802 10,802 - 3,530 - 4,595 - 15,000 1,012 1,012 - 390 - 836 562 562 21,916 8,161,781 (21,916) - - - - 327,328 - 8,489,109 |
|---|---|---|---|---|---|---|
26
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
- For the year ended 31 December 2022 6a Grant making (current year)
| Grant making (current year) | ||||
|---|---|---|---|---|
| At the end of the year At the end of the year Chem Trust 100percent renewable UK Ltd Together against Sizewell C Edinburgh Energy & Environmental Consultancy Greenpeace International Africa Development Greenpeace International Brazil Development Greenpeace International East Asia Development Greenpeace International Russia Development Greenpeace International South East Asia Development Greenpeace Ltd Greenpeace International Global Programme Scientific Research and Investigation GeneWatch UKWIN Promotion of Sustainable Development Dr P Dorfman & Nuclear Consulting Group Greenpeace Africa Tipping Point North South Greenpeace International Science Unit Education People & Planet Green Alliance Cost Education Scientific research and investigations Promotion of sustainable development Grants were made to the following organisations Scientific research and investigations Promotion of sustainable development Grant making (prior year) Cost Education |
Grants to institutions £ 126,920 457,214 7,488,644 8,072,778 Grants to institutions £ 111,121 392,098 7,293,021 7,796,240 |
Support costs £ - - - - Support costs £ - - - - |
2022 £ 126,920 457,214 7,488,644 8,072,778 2021 £ 111,121 392,098 7,293,021 7,796,240 2022 £ 50,000 9,600 35,000 20,000 - - 10,000 2,320 - 126,920 307,224 105,000 44,990 457,214 - 2,143,655 810,730 - 452,302 2,545,868 1,536,089 7,488,644 |
2021 £ 111,121 392,098 7,293,021 |
| 7,796,240 | ||||
| 2020 £ 119,871 65,392 9,960,258 |
||||
| 10,145,521 | ||||
| 2021 £ 26,271 9,600 10,000 - 40,000 14,000 5,000 2,250 4,000 |
||||
| 111,121 | ||||
| 334,640 15,000 42,458 |
||||
| 392,098 | ||||
| 387,011 863,640 2,375,000 215,909 - 2,377,661 1,073,800 |
||||
| 7,293,021 |
- 6b Grant making (prior year)
27
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
- 7 Net incoming resources for the year
This is stated after charging / crediting:
| This is stated after charging / crediting: | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Auditor's remuneration (excluding VAT): | ||
| Audit | 13,515 | 12,500 |
8 Analysis of staff costs and numbers, and trustee remuneration and expenses
The Trust does not directly employ any staff but instead engages a legacy consultant to handle all of the Trust's legacy matters. All other necessary duties are undertaken by Greenpeace Ltd employees who donate their time and services to the Trust.
The Trustees were not paid or received any other benefits from employment with the Trust in the year (2021: £ nil). No Trustee received payment for professional or other services supplied to the Trust (2021: £ nil).
Trustees' expenses represents the cost of arranging meetings and related expenses totalling £1,258 (2021: £390).
9 Related party transactions and disclosure
Andrew McParland (Trustee) was present at three meetings at which the grants to Greenpeace Ltd were discussed and approved, however he declared an interest in the matter as a result of also being a director of Greenpeace Ltd, and took no part in the discussions or decisions made. The value of the grants was £2,545,868 (2021: £2,377,661).
10 Taxation
The Trust is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The Trust is not registered for VAT.
28
DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
| For theyear ended31 December 2022 | ||
|---|---|---|
| 11 Accrued legacy income Taxation recoverable Prepayments and accrued income Other Debtors 12 Creditors: amounts falling due within one year Debtors Accruals and other creditors Trade creditors Grants payable |
2022 £ 497,418 62,365 5,720 1,300 566,803 2022 £ 8,458 17,320 16,768 42,546 |
2021 £ 234,407 39,086 58,737 - |
| 332,230 | ||
| 2021 £ 4,926 6,250 15,043 |
||
| 26,219 |
- 13 Analysis of net assets between funds
| 13 Analysis of net assets between funds |
|||||
|---|---|---|---|---|---|
| a) 2022 Net current assets Net assets at the end of year b) 2021 Net current assets Net assets at the end of year |
General unrestricted £ 3,241,054 3,241,054 4,590,176 4,590,176 |
Restricted £ 2,154,008 2,154,008 1,332,556 1,332,556 |
Endowment £ 144,602 144,602 144,026 144,026 |
Revaluation Reserve £ - - - - |
Total funds £ 5,539,664 |
| 5,539,664 | |||||
| 6,066,758 | |||||
| 6,066,758 |
General unrestricted funds for 2022 includes £1.5m of funding from the People's Postcode Lottery, which Greenpeace Limited will be making an application for in 2023.
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DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
| 14 Movements in funds a) Total restricted funds General funds 2022 Restricted funds Oceans Oceans Plastics Endowment fund Unrestricted funds UK Marine Forests Climate Investigations Science Unit Greenspeakers Total unrestricted funds Total funds |
At the start of the year £ 1,298,057 7,000 - 6,999 500 - - 20,000 144,026 1,476,582 4,590,176 4,590,176 6,066,758 |
Income & gains £ 1,241,157 5,000 154,000 40,000 633,000 191,163 5,000 80,000 576 2,349,896 5,764,019 5,764,019 8,113,915 |
Expenditure & losses £ (752,868) - - - (550,000) (175,000) - (100,000) - (1,577,868) (7,063,141) (7,063,141) (8,641,009) |
Transfers £ 50,000 - - - - - - - - 50,000 (50,000) (50,000) - |
At the end of the year £ 1,836,346 12,000 154,000 46,999 83,500 16,163 5,000 - - 144,602 |
|---|---|---|---|---|---|
| 2,298,610 | |||||
| 3,241,054 | |||||
| 3,241,054 | |||||
| 5,539,664 |
The transfer from unrestricted to restricted reserves relates to a legacy accrual included within unrestricted reserves in 2021, that was received in 2022, specfically for work undertaken by Greenpeace ships and their crew.
| b) Total restricted funds General funds 2021 Restricted funds Oceans Oceans Plastics UK Marine Forests Climate Investigations Green Stimulus Greenspeakers Endowment fund Total funds Unrestricted funds Total unrestricted funds |
1,249,751 - - 250 61,250 - 6,000 - 144,026 1,461,277 1,287,429 1,287,429 2,748,706 |
1,022,740 35,000 558,083 233,643 248,500 275,000 - 20,000 - 2,392,966 9,414,195 9,414,195 11,807,161 |
(974,434) (28,000) (558,083) (226,894) (309,250) (275,000) (6,000) - - (2,377,661) (6,111,448) (6,111,448) (8,489,109) |
- - - - - - - - - - - - - |
1,298,057 7,000 - 6,999 500 - - 20,000 144,026 |
|---|---|---|---|---|---|
| 1,476,582 | |||||
| 4,590,176 | |||||
| 4,590,176 | |||||
| 6,066,758 |
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DocuSign Envelope ID: 4008EBFC-F107-40A7-B0B5-6CF75D41F625
Greenpeace Environmental Trust
Notes to the financial statements
For the year ended 31 December 2022
Purposes of restricted funds
Oceans and UK Marine
To protect and preserve the world's oceans for all time by preventing their exploitation
Ocean Plastics
To work to limit the volume of UK plastic waste produced and exported, leading to pollution of oceans and harm towards local communities in other countries.
Forests
To save the forests of the Amazon from destruction by deforestation, which leads to climate change.
Climate To limit the effects of climate change, including accelerating a just transition away from fossil fuels and to undermine the industrial food system on land and at sea.
Investigations
Supporting Unearthed, Greenpeace's award-winning investigative journalism unit with a series of investigations including highlighting the human consequences of environmental decisions and the impact of deforestation in Brazil. Science Unit
Supporting scientific research to secure the future of our planet.
Greenspeakers
Engaging and encouraging the next generation to educate and raise awareness on climate change to better serve public and planetary health.
Endowment fund
To be invested to generate income, which can be spent on any of the Trust's charitable objectives.
15 Analysis of cash and cash equivalents
| Analysis of cash and cash equivalents | ||||
|---|---|---|---|---|
| Cash at bank and in hand Total cash and cash equivalents |
At 1 January 2022 £ 5,760,747 5,760,747 |
Cash flows £ (745,340) (745,340) |
Other changes £ - - |
At 31 December 2022 £ 5,015,407 |
| 5,015,407 |
16 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
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