FY21 Progress | FY22 Priorities | |
Governance | Defined Executive Committee’s role in climate related disclosure The CEO is the Executive accountable for climate change, and he determined that the Chief Corporate Affairs Officer is the Executive sponsor for climate change Established new management ESG Committee which is responsible for management of climate related issues and driving the performance of wider sustainability agenda | Executive Committee completed Chapter Zero Board Readiness assessment Training to ensure the competence of the Board and ExCo to respond to climate-related risks and opportunities effectively Climate-related risks and opportunities are integrated into standard Board agendas Full and clear consideration of the physical, transition and liability risks over the short, medium and long-term Agree financial incentives for Executives on progress towards ESG goals |
Strategy | We recognise the impact that greenhouse gas emissions have on our environment and we are committed to reducing our impact | Ensure climate-related risks and opportunities are integrated into sector and geographic strategies Develop approach to scenario analysis and assess organisational resilience |
Risk Management | Reviewed current approach to identify and capture climate-related risks | Identify and disclose physical and transitional risks and opportunities in the short, medium and long term Integrate climate-related risk into Babcock’s overall risk management process |
Metrics and Targets | Disclose Scope 1, Scope 2 and limited Scope 3 emissions Agreed Babcock’s commitment to Net Zero 40 target and to developing science-based targets | Baseline Scope 1 and 2 emissions and plan approach for Scope 3 mapping Set emissions reduction targets in line with strategy and risk management process |