Home Ja Sustainability ESG Reporting GRI 201: Economic Performance 2016

GRI Compliance / Economic

Economic Performance 2016

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REF	ステータス	Disclosure	Our Response
GRI 201-01	Full Disclosure	Direct economic value generated and distributed Direct economic value generated and distributed (EVG&D) on an accruals basis, including the basic components for the organization’s global operations as listed below. If data are presented on a cash basis, report the justification for this decision in addition to reporting the following basic components: Direct economic value generated: revenues; Economic value distributed: operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, and community investments; Economic value retained: ‘direct economic value generated’ less ‘economic value distributed’. Where significant, report EVG&D separately at country, regional, or market levels, and the criteria used for defining significance.	Our revenues this year totalled £4,101.8 million. Economic value distributed contains operating costs (£284.1 million), employee salaries and benefits (£1,523.6 million) and tax cost (£14.4 million). Omissions: this information is not presented by country.
GRI 201-02	Partial Disclosure	Financial implications and other risks and opportunities due to climate change Risks and opportunities posed by climate change that have the potential to generate substantive changes in operations, revenue, or expenditure, including: a description of the risk or opportunity and its classification as either physical, regulatory, or other; a description of the impact associated with the risk or opportunity; the financial implications of the risk or opportunity before action is taken; the methods used to manage the risk or opportunity; the costs of actions taken to manage the risk or opportunity.	Climate change will impact on our business in a variety of ways and present both risks and opportunities. This is explained in more detail in the ESG Strategy section of our Annual Report on page 54 onwards We have highlighted climate-related risk within our Principal risks and management controls section of the annual report. Please see page 76 of our Annual Report for more information. We are taking steps to better understand the direct and indirect impacts of climate change on our business, so that we can develop plans to ensure that our business activities remain robust and are affected by climate change as minimally as possible. We recognise the importance of considering climate-related risks and opportunities in business decisions and strategic planning. For the year ending 31 March 2022 we have adopted the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) to enable us to identify and address physical and transitional risks and quantify the impact of climate change on the Group.
GRI 201-03	Full Disclosure	Defined benefit plan obligations and other retirement plans If the plan’s liabilities are met by the organization’s general resources, the estimated value of those liabilities. If a separate fund exists to pay the plan’s pension liabilities: the extent to which the scheme’s liabilities are estimated to be covered by the assets that have been set aside to meet them; the basis on which that estimate has been arrived at; when that estimate was made. If a fund set up to pay the plan’s pension liabilities is not fully covered, explain the strategy, if any, adopted by the employer to work towards full coverage, and the timescale, if any, by which the employer hopes to achieve full coverage. Percentage of salary contributed by employee or employer. Level of participation in retirement plans, such as participation in mandatory or voluntary schemes, regional, or country-based schemes, or those with financial impact	All of the Group’s UK retirement plans (other than the Additional Compensation Program) are either established under Trust (which are at arm’s length to the Company and administered by the appropriate Board of Trustees) or by way of a direct contract between the employee and the provider (such as a personal pension plan). The Additional Compensation Program provides certain categories of ex-employees with additional pensions, the costs of which for many of these amounts are met by other parties through contractual agreements. The estimated value of the liabilities for Additional Compensation Payments not reimbursed by other parties is £2m. Outside of the UK, the Group’s employing entities participate in pension programs as appropriate to the relevant country. No defined benefit programs are in place whereby liabilities are met from Group’s general resources. As of 31 March 2022, the Group’s Trust based defined benefit pension schemes assets covered 104.0% of the liabilities as calculated for IAS19 purposes. The full basis is given within the Group’ Report and Accounts for the year ending 31 March 2022. As of 31 March 2022, the discount rate assumption used was 2.7% and the CPI inflation assumption used was between 2.8% and 3.2%, depending on scheme. In recent years, the Group has agreed revised strategies with both the trustees of the Babcock International Group Pension Scheme and the Rosyth Royal Dockyard Pension Scheme designed to target these schemes being self-sufficient by 2026. The level of participation in retirement plans is approximately 95% for the UK. Omissions: we do not disclose the percentage of salary contributed by employer and employee.
GRI 201-04	Partial Disclosure	Financial assistance received from government Total monetary value of financial assistance received by the organization from any government during the reporting period, including: tax relief and tax credits; subsidies; investment grants, research and development grants, and other relevant types of grant; awards; royalty holidays; financial assistance from Export Credit Agencies (ECAs); financial incentives; other financial benefits received or receivable from any government for any operation The information in 201-4-a by country. Whether, and the extent to which, any government is present in the shareholding structure.	Babcock is a publicly-listed company and is not part-owned by any government. Tax credits are included in Note 8 on page 190 of our Annual Report. Government grants received during the year are immaterial and therefore are not disclosed in an individual note. Omissions: this information is not broken down by country.