FY21 ProgressFY22 Priorities
GovernanceDefined 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
StrategyWe recognise the impact that greenhouse gas emissions have on our environment and we are committed to reducing our impactEnsure climate-related risks and opportunities are integrated into sector and geographic strategies

Develop approach to scenario analysis and assess organisational resilience
Risk ManagementReviewed current approach to identify and capture climate-related risksIdentify 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 TargetsDisclose 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