UK Carbon Reduction Plan
Supplier name: Fresenius Kabi Limited, United Kingdom (UK)
Publication date: 19 April 2022
The UK Government amended the Climate Change Act 2008 in 2019 introducing a target of at least a 100% reduction in the net carbon account (reduction of greenhouse gas emissions compared to 1990 levels) by 2050. This is the Net Zero Target.
FHC (Holdings) Limited is the holding company of two UK subsidiaries: Fresenius Kabi Limited and Calea UK Limited (together Fresenius Kabi UK). These companies are healthcare companies involved in supplying pharmaceutical products, controlled drugs, medical devices, nutritional feed and nursing services. Both companies operate out of adjacent sites in Runcorn; these consist of warehouse space, offices, and an aseptic compounding centre.
Fresenius Kabi UK takes its responsibility to protect the environment seriously. We constantly work to improve our environmental protection efforts and apply high environmental standards in a bid to reduce greenhouse gas emissions in the UK. Furthermore, Fresenius Kabi UK is in full support of the Net Zero strategies in place across NHS England, NHS Scotland and NHS Wales.
Fresenius Kabi Limited is classified as a large unquoted UK company under the definition of the Streamlined Energy and Carbon Reporting regulations (SECR) by virtue of meeting both financial and employee thresholds.
Fresenius Kabi Limited reports its scope 1 and scope 2 emissions under the SECR. This plan covers all scope 1 and 2 emissions in line with the GHG Protocol Corporate Standard and Action Note PPN 06/21. Work is currently being done to map scope 3 emissions and an interim report will follow.
To read the full UK Carbon Reducation Plan click here
UK Tax Strategy
In accordance with UK legislations, Schedule 19 of Finance Act 2016, the company is publishing its tax strategy for the Year Ended 31st December 2022, which will be refreshed annually. We confirm that this strategy will apply to the following UK companies for all UK taxes:
- Fresenius Kabi Limited
- Calea UK Limited
- FHC (Holdings) Limited
- Fresenius Kabi Oncology plc
Approach to Tax Risk Management & Governance
We aim for our tax affairs to be compliant with UK tax legislation and the Board of Directors in the UK are committed to the delivery of tax compliance.
We employ the services of a professional tax advisor to prepare our Corporate Tax Computations and, Returns and to provide other services including tax technical updates and flagging new legislation to help reduce the risk of non-compliance. We also ensure that we employ appropriately qualified and experienced staff to prepare and submit relevant returns, for example VAT and PAYE.
Level of Tax Risk we are prepared to accept
Our appetite for tax risk is low and the UK Board of Directors sees compliance with tax legislation as key to managing our tax risk by using principals of reasonable.
Due to the size and complexity of the business there is an inherent degree of tax risk. We recognise that eliminating tax risk entirely is impossible, but we aim to manage our tax risk as far as practically possible.
In areas of uncertainty where tax risk arises from the complexity of tax legislation and differences in interpretation, we will seek appropriate external advice before engaging with HMRC.
Our approach is to aim to be compliant and understand our responsibilities with regard to tax and we will claim legitimate tax incentives, exemptions and reliefs offered by the UK Government to all tax payers.
Attitude towards Tax Planning
We will consider a range of tax outcomes based on the underlying commercial intention of any business activity or transaction that supports our business activities and the Group’s code of conduct, rather than looking for ways to aggressively avoid the payment of tax. We seek to balance the shareholders’ interest of managing business expenses, which include taxation, with ensuring that any arrangements comply with current UK tax legislation.
We have a responsibility to minimise our tax risk and our exposure to negative publicity through non-compliance.
Approach towards dealing with HMRC
We seek to ensure that our engagement with HMRC is professional, open and honest by having a co-operative and proactive working relationship with them. We also aim to undertake our filing requirements in a timely manner, by meeting relevant filing and payment deadlines for taxes that the company pays.
Fresenius Kabi Limited and Calea Limited Trustees' Engagement Policy Implementation Statement
The Trustees believe that good stewardship and the incorportation of environmental, social, and corporate governance (ESG) factors into their investment decision-making processes can have a material impact on the financial and non-financial performance of the Scheme's assets over the medium and longer term.
To read the full Engagement Policy Implementation Statement click here
Modern Slavery statement for Fresenius Kabi Limited and Calea UK Limited
This statement has been prepared in compliance with section 54 of the Modern Slavery Act 2015 to set out the steps that Fresenius Kabi UK has taken during its financial year ending in 2021 to prevent slavery and human trafficking from taking place in its business or any of its supply chain.
This statement has been approved by the UK Leadership Team on 30 June 2022.
To read the full Modern Slavery Statement click here
Fresenius Health Care Group Pension Scheme
The Trustees of the Fresenius Health Care Group Pension Scheme (“the Scheme”) have drawn up this Statement of Investment Principles (“the Statement”) to comply with the requirements of the Pensions Act 1995 (“the Act”) and subsequent legislation. The Statement is intended to affirm the investment principles that govern the Trustees’ decisions about the Scheme’s investments. In preparing this Statement the Trustees have consulted Fresenius Kabi Limited (“the Sponsor”) to ascertain whether there are any material issues that the Trustees should be aware of when setting the Scheme’s investment arrangements. The Trustees have also taken account of the Investment Governance Group Code of Best Practice for institutional investors, a voluntary code which has been endorsed by the UK government and the National Association of Pension Funds.
To read the full Engagement Policy Implementation Statement for the Year Ended 31 December 2021 - Fresenius Health Care Group Pension Scheme click here
To read the full Statement of Investment Principles September 2020 - Fresenius Health Care Group Pension Scheme - click here