“In order to maintain the resilience of our business over time, our consistent focus remains on creating long-term value for stakeholders through a strong and sustainable Babcock .”
Our commitment to sustainability means that the relationships we have with our shareholders, customers, employees, suppliers and local communities and the regard we have for the environment are core to how we plan to deliver performance and achieve our goals. Reporting on material yet non-financial measures is also necessary in understanding the performance, opportunities and long-term sustainability of generating value for all our stakeholders.
Babcock has deep technical expertise in providing bespoke, complex engineering services across four sectors, with a growing international footprint. We work in highly regulated environments managing complex assets in a range of markets and countries, operating and supporting critical infrastructure, equipment and training programmes. We therefore have a responsibility to consider a diverse range of stakeholders, interests and concerns.
A fundamental part of our Group realignment was, and continues to be, our focus on supporting and investing in our people to deliver sustainable growth across the sectors. At Babcock, we believe that a truly sustainable business is essential to our success, which is why we pride ourselves on upholding the strictest standards of business ethics, delivering a competitive talent development programme and ensuring that health and safety remain at the forefront.
Looking to the future, our people and their potential are central to our plans for growth, both in the UK and internationally. We firmly believe that we can sustain the long-term success of our business in ways that also serve local communities and individuals. We do this by investing in and supporting our people, whether through technical apprenticeship schemes, graduate schemes, training or career development and succession opportunities across the Group. We strive to identify and train talented people to implement growth, for example, through our tailored Babcock MBA programme in partnership with the University of Strathclyde.
Our ability to continue attracting, recruiting and developing the people we need to help us thrive as a business is key to both our current and long-term success. Initiatives such as the graduate recruitment campaign and annual apprentice networking events as well as talent development and management schemes are all part of our plan to equip our business with the talent we need to grow sustainably.
Protecting the health and safety of our employees is a fundamental value of our business; we work hard to get everyone home safe, every day. This extends to our wider operations, where we seek to avoid or minimise any adverse effects on the surrounding environment. Our Group wide Code of Business Conduct outlines our commitment to strict ethical conduct together with the importance we place on conducting our work safely and with integrity. Supplemented by appropriate training and guidance, our Code of Conduct reinforces our honest approach to doing business, as well as supporting long‑term success by minimising financial risk and sustaining our reputation.
This year, we have demonstrated our support for diversity in engineering by growing our relationships with universities and schools to encourage young people to take up science, technology, engineering and mathematics (STEM) internationally and we are proud to be official partners of the UK Government’s Year of Engineering campaign. We continue to foster diversity in the workforce, sponsoring the World Award at this year’s Women In Science and Engineering (WISE) Awards, which recognised the invaluable contribution made by women in the industry. Building on the establishment of staff networks in recent years, we continue to support our internal staff Diversity and Inclusion networks as they grow. Our LGBT network, Pride in Babcock, was recognised for its fantastic work within the Diversity and Inclusion arena this year, winning Best Staff Network at the Bristol Pride Awards.
Initiatives like these form part of our continued commitment to enhancing our highly skilled workforce, enabling us to foster the talent needed to achieve and sustain our strategic aims.
Archie Bethel CBEChief Executive
Click here to view our community commitments in the Marine sector