“Our priority is to ensure that Babcock continues to focus on creating long‑term value for shareholders through a strong and sustainable business.”
With the Group realignment in place, we understand now more than ever that how we deal with our customers, our employees, our suppliers, and the communities in which we operate, and our impact on the environment are all fundamental to rolling out the next phase in Babcock’s history, achieving our plans and delivering performance. Core to the Group realignment is how we invest in and support our people to deliver sustainable growth across the sectors. It is our belief that strong success can only be delivered through a sustainable business, which is why at Babcock we uphold the strictest standards of business ethics, deliver a competitive talent development programme and put safety at the forefront of everything we do.
Babcock has deep technical expertise in providing a wide array of complex engineering services across four sectors, with a growing, international footprint. We are trusted to deliver in a range of markets and countries by operating, supporting and managing complex infrastructure, assets and training programmes. We are therefore required to consider a diverse and complex range of stakeholders, interests and concerns. We look to do this by maintaining three overarching, underpinning and interlinking pillars of sustainability as discussed in this report.
Over the next five years, we aim to grow, both in the UK and internationally, and, with the organisational structure now in place to support growth, one of the next key enablers to our success is people and potential. We believe that we can sustain the long‑term future of our business through investing in and supporting our talent, through technical apprenticeships, graduate schemes, training and career development with succession opportunities across the Group and also through identifying and training talented people to implement growth.
Our ability to attract, recruit, retain and develop the people we need now and in the future is also fundamental to that long‑term success. Recruitment campaigns and initiatives in the apprentice and graduate programmes as well as talent development and management training schemes are intended to underpin the long‑term future success of the Company. The support we look to provide will also serve the interests of individuals and local economies.
In implementing our growth plans, we continue to work hard to protect the health and safety of our employees and others and to avoid or keep to a minimum any adverse effect of our operations on the surrounding environment. Our Group‑wide Code of Business Conduct, supplemented by appropriate guidance and training, is not only the right approach to doing business in itself but is also intended to support long‑term success by minimising financial risk and sustaining our reputation.During the year, we have continued to demonstrate Babcock’s commitment to diversity in engineering by stepping up our relationships with universities and schools to encourage students to take up science, technology, engineering and maths (STEM) both in the UK and internationally. In Vancouver, Canada, we set up a new STEM competition in partnership with the regional government. We also continue to foster diversity in the workforce, and hosted a Women In Science and Engineering (WISE) event in Rosyth to recognise the invaluable contribution made by women in the industry. Initiatives such as these form part of our continued commitment to enhance our highly skilled workforce, allowing us to foster the talent needed to achieve and sustain our strategic aims. How we go about delivering our commitment to sustainability is discussed further in this report, and additionally in the sustainability section of each of our divisions’ operational reviews.
Archie Bethel CBEChief Executive