As global understanding and awareness of environmental and social impacts progresses, today, Balfour Beatty, the international infrastructure group, is proud to launch its evolved Sustainability Strategy, demonstrating its commitment to staying at the forefront of sustainable and ethical business practices.
This evolved strategy expands Balfour Beatty’s sustainability focus areas to ensure a holistic approach that addresses the interconnected challenges and opportunities to deliver benefit to all stakeholders and drive meaningful impact in the communities in which it operates. These six focus areas encompass climate change, nature positive, resource efficiency, supply chain integrity, community engagement and employee diversity, equity, and inclusion.
As part of the strategy, Balfour Beatty is also bringing forward its UK based target to create £3 billion of social value by 2025 (previously 2030) as well as initiating new net zero targets validated by the Science Based Targets initiative and underpinned by an industry-leading, fully transparent UK carbon reduction plan.
Balfour Beatty has made significant investment in understanding and enhancing its reporting of its Scope 3 carbon emissions and is continuing its work to cut emissions throughout the value chain. Recognising the scale of the challenge in a carbon intensive industry with its dependence on heavy plant and machinery, concrete and steel, the Group has revised its net zero target for Scope 1* and 2* emissions to 2045, and Scope 3* to 2050, both originally set for 2040. Balfour Beatty’s Scottish operations remain on track to meet the Scottish Government’s Net Zero target by 2045.
Given its international footprint, Balfour Beatty takes a “Think Global, Act Local” approach, combining ambitious but attainable Group-wide commitments and targets with UK and US specific targets, supported by detailed business specific action plans.
Leo Quinn, Balfour Beatty Group Chief Executive said:
“As we continue to develop our understanding of the scale of the sustainability challenge and opportunity, we are committed to continually raising the bar to drive progress – for our business, for our industry, for our communities and employees, and, ultimately, for the world we live in.
“Through the actions we take and the transformative projects we deliver over the next decade of infrastructure growth and beyond, Balfour Beatty will continue to play a significant role in the transition to a greener, fairer economy by working with all our stakeholders to make sustainable choices that will help shape a better tomorrow.”
Jo Gilroy, Group Director of Sustainability at Balfour Beatty, said:
“Our evolved strategy recognises the great strides the Group has made as it continues to gain a greater understanding of the environmental and social impact of its operations.
“I am pleased to share that today Balfour Beatty’s science based carbon targets have been validated by the Science Based Targets initiative, which aligns with the 1.5-degree limit global warming goal. This marks a significant milestone in our journey to net zero carbon emissions.”
The Rt Hon, the Lord Deben, Chairman of Sancroft, said:
“Business and industry alike have a significant role to play in helping drive forward sustainability initiatives, in our collective journey to net zero. These initiatives must be realistic and based on the science if we are to create a better, cleaner, and greener world. It is reassuring to see Balfour Beatty’s meaningful programme for delivering against Company commitments and targets, notably in the transparency of their Carbon Reduction Plan.”
To learn more about how Balfour Beatty is driving sustainability across its operations, read the Building New Futures Sustainability Strategy in full on the Company’s website. To read how the company will achieve net zero by 2050, read Balfour Beatty’s detailed UK Carbon Reduction Plan.
ENDS
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Balfour Beatty
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Notes to editors:
- Balfour Beatty is a leading international infrastructure group with over 26,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines, and inspiring a new generation of talent to be the change-makers of tomorrow.
- We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
- Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.
- In 2023 the Group achieved a 2% reduction in absolute market-based CO2 emissions, a 40% reduction in UK waste intensity and a 15% increase in UK social value.
- The Science Based Targets initiative (SBTi) is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
*Definition of Scope 1, 2 and 3 carbon emissions: Scope 1: direct emissions from our operations Scope 2: indirect emissions from electricity used at our offices, buildings, and sites. Scope 3: the indirect emissions from our value chain.
