Governance and strategy

The environment and climate change
For this area of significant importance, responsibility for environmental issues sits with our Chief Executive. He is the owner of our Environment Policy which details our commitment to addressing environmental impacts related to our products and activities, including climate change.
He is supported by the Board and Corporate Responsibility Committee in ensuring that an appropriate environmental programme and performance objectives are set and flowed down across the business. The CR committee monitors progress in this area. 

Risk is a regular agenda item at Board meetings and the Board reviews risk, including climate change risk, as part of its annual strategy review process. Each business completes and manages risk registers that includes non-financial risk such as climate change.
 
The approach we take to managing our impact on the environment is governed by our Environment Policy and embedded in the Company’s Operational Framework.
 

Strategy

We recognise that environmental and climate risks could directly impact our ability to meet our strategic priorities, namely to continuously improve competitiveness and efficiency. Key aspects which are likely to influence our organisation and future strategic decisions include:
  • Constrained supply and volatile prices of fuel and the associated taxes;
  • Availability of critical materials;
  • Increasing stringency of environmental legislation; and
  • Contribution towards the UN Sustainable Development Goals.