SASB Response / Leadership & Governance
Total amount of monetary losses as a result of legal proceedings associated with incidents of corruption, bribery, and/or illicit international trade
Babcock did not sustain any monetary losses in the reporting period.
Revenue from countries ranked in the “E” or “F” Band of Transparency International’s Government Defence Anti-Corruption Index
In FY21 Babcock didn’t have any revenue from countries ranked in the “E” or “F” band.
In previous years Babcock did have revenue from activities in Oman.
For more information please see Note 6 on page 222 in our Annual Report.
Discussion of processes to manage business ethics risks throughout the value chain.
Anti-bribery and corruption risks are assessed and mitigated within our risk register process which is applied across the Group.
Our business units, Sectors and Group highlight their specific risks for this topic and comment on how they manage them and mitigate against them. All risks that are identified from the business units upwards are then reviewed on a quarterly basis by their management teams, then the Group risk function and the Group Executive Committee.
On an annual basis Sector and Function heads issue Letters of Representation which includes compliance with policies and procedures connected to Ethical risks. More information on Group risk management and risk assurance can be found in our Annual Report on pages 85 to 86.