SASB Response / Business Model & Innovation
Product Design & Lifecycle Management / Fuel Economy & Emission in Use-phase
Revenue from alternative energy-related products
During the reporting period our revenue from alternative energy-related products equates to £155.4m and across the business we are actively exploring energy and technology innovations (Electric Vehicles, use of hydrogen etc.) which we believe will provide significant opportunities to increase our revenue.
Description of approach and discussion of strategy to address fuel economy and greenhouse gas (GHG) emissions of products
Babcock has a group-wide Carbon reduction strategy, Plan Zero 40, which details the organisation’s transition to Net Zero carbon emissions. Babcock has a complex and diverse nature of business operations and the in-use emissions of our products and services is a key aspect of our Scope 3 footprint. We are currently working to develop a holistic understanding of the impacts of our products and services, including assessing opportunities for Life Cycle Assessments and whole life costing along with a range of tools and methodologies. Babcock has a significant opportunity to support our customers, partners and wider stakeholders with their decarbonisation journeys.