Environment

ENVIRONMENT 

We produce all of our Warhammer miniatures at our Lenton facility in Nottingham in the UK and so this is where we consume the majority of our energy, water, and raw materials. Ensuring that we conduct our operations in a sustainable manner is of the utmost importance to us. We are committed to minimising the impact of all our activities and to operating as sustainably as possible.

Emissions

Whilst our carbon footprint is small, we recognise that we still have a responsibility to support the global challenge of reducing carbon emissions. Mindful of the fact that as we expand internationally, our emissions will grow as we grow. We will reduce our emissions by making our own operations more sustainable and by engaging and working closely with our suppliers to help them do the same.

Our metrics

Measuring the emissions that contribute to our carbon footprint is the first step to managing them. Below is a table of our scope 1 emissions (caused directly by our operations - such as burning gas in heating systems) and scope 2 emissions (caused by the production of any electricity, heat, or steam that we purchase for our operations) for our last reported financial year (2025/2026).

The emissions are measured in CO2e (carbon dioxide equivalent), which allows us to include the impact of any greenhouse gases in terms of an equivalent amount of carbon dioxide (the main greenhouse gas responsible for climate change).

Scope 3 emissions are those emissions outside of our direct control that arise from within our supply / value chain. The scope 3 boundary has been developed in accordance with the Greenhouse Gas Protocol Scope 3 Guidelines.

Actual activity data has been collected from across the Group on a monthly basis where available, and annually if not. This data has been summarised, reviewed, and assessed by a third party. The activity data is multiplied by an appropriate emission factor to calculate the scope 1 and 2 emissions. For scope 3, appropriate methodologies have been used. The nature of these calculations and the data they are based on mean that there is an element of estimation in the emissions quoted and so the numbers should be viewed as giving more of a direction of travel rather than an absolute accurate number.

The below table shows our scope 3 emissions for the financial year (2025/2026):

Whilst measuring and reporting on the emissions that contribute to our carbon footprint is useful, it often helps to see these figures in terms of our level of activity. Below are two measures for the amount of carbon emissions (measured in CO2e) we emit, one per £000 of revenue generated, and a second per Full Time Equivalent (FTE) employee that works for Games Workshop.

Our targets

We have made significant progress this year on achieving our scope 1 and 2 emissions target to reduce emissions by 55% by 2032 against a 2021/22 baseline. This progress has been down to continued reduction in the use of gas at our UK facilities, combined with expansion of our use of renewable sources of electricity. Thanks to these efforts, our scope 1 and 2 emissions for this financial year are 75% lower than our 2021/22 baseline - surpassing our target by 20%. Whilst the aggregated levels of scope 1 and 2 emissions are now below the target level, we recognise the challenge of our scope 1 emissions and we remain focused on reducing them as well as maintaining our scope 2 emissions within our target.

The reductions and their relationship to our plan are shown in the chart below:

TCFD

We maintain a climate related risk register. This register uses climate scenario analysis (CSA) to look at a series of plausible future climate scenarios (caused by the impacts of, and responses to, climate change) and uses these to assess the potential impacts on our business. In 2024 we performed a detailed assessment and analysis of these risks, during the year to May 2026 we reviewed and updated the evaluation of risks in our register to ensure they remain consistent with the latest industry guidance and information on climate related risks. We have also made minor changes to align the metrics and categorisation of these risks with our business wide integrated risk management approach.

Energy efficiency and self generation

Our on-site solar arrays at our Lenton hub are delivering 6% (2025: 7%) of our Lenton site energy needs. This year we updated the solar array on Factory 1, installing later generation, higher efficiency panels, and our new Factory 4 facility has been designed and built with its own solar array with a generating capacity of 577 kWp of electricity. Energy efficiency improvement opportunities identified through our ESOS audit have either been completed or are under way with improvements made to heating, lighting and cooling on site.

Waste

Efficient use of resources is at the heart of our sustainability goals. As a responsible organisation we consider the waste hierarchy in our operations, striving to reduce waste produced and seeking to reuse and recycle waste wherever possible. Waste is monitored as part of our day to day management to ensure that we reduce waste generated and that waste is managed appropriately.

Within our UK manufacturing and logistics operations we follow the waste hierarchy framework to prioritise waste prevention, then, where possible, reusing, recycling and recovery. Disposal is used as a last resort. During 2025/26 we recycled waste at a rate of 65%, compared to a rate of 47% in the previous reporting period. Remaining waste not recycled was sent for incineration with heat recovery. None of our manufacturing waste was sent to landfill.

Products and Packaging

The sustainability of our products is extremely important to us and is fundamental to our strategy to “make the best fantasy miniatures in the world…forever”. Our miniatures are long term products, intended to be treasured possessions for hobbyists to enjoy for many years and so we believe they represent a good investment in the energy and resources needed to design and manufacture them. We always strive for continuous improvement and we are constantly reviewing our raw material formulas and advances in technology to make our products more sustainable.

In the period, we continued work to improve the sustainability of our products. There are two main areas of focus:

• The use of recycled material in the manufacture of our products.

• Initiatives to reduce the waste material in the production and use of our miniatures.

Regulations and taxes relating to the sustainability of product packaging have expanded into more territories and become more demanding. We have continued to meet these regulations and to reduce excess packaging and replace plastic with more easily recyclable materials. In the period reported we have upgraded all our plastic miniature kit outer boxes to 100% recycled cardboard. In June 2025 we stopped using plastic trays in our new release plastic kits, replacing them with those made from 100% recycled card or pulp. In April 2026 our factories stopped applying shrinkwrap to the outside of almost all of our miniatures boxes.

In store recycling programme

Our in-store recycling scheme recovered over 16 tonnes of used sprue frames and paint pots during the reporting period (2024/25: 14 tonnes), with the material recycled into new products such as playground equipment and flower pots. We are continuing the roll out of this scheme to all Warhammer stores across the US, this will be completed in the 2026/27 financial year.