Our targets and commitments

050A8041SM 02 2

Sustainability targets

50% 

Reduction in Scope 1 and 2 GHG emissions intensity by 2025 (1)

Net Zero

Achieve net zero emissions across the value chain by 2050

 

50%

Electricity from renewable sources by 2025 (2)

80%

Of total R&D spend on climate related R&D per year

to contribute to the decarbonisation of aerospace by 2025

95%

Diversion of solid non-hazardous waste from landfill by 2025

40%

Reduction in water withdrawal intensity by 2025 (3)

<0.1

LTA frequency rate

£5m

Investment on skills development per year

(1) The Group’s chosen intensity ratio is energy consumption, emissions and water withdrawal reported above normalised megawatts usage (MWh), tonnes of CO2e, or m3 per £1,000 of revenue. The data has been standardised from the source units in which it was initially collected. The revenue figures used to calculate the intensity ratio include continuing operations under operational control only.
(2) Where renewable electricity is commercially and reasonably available in the relevant jurisdiction.
(3) Target baselined on FY2021 with consideration of HY2022 performance.

Our commitment to sustainability is rooted in our purpose to be the most trusted and sustainable partner in the sky.

Being a sustainable business is about striking the balance between shareholder expectations, the needs and concerns of our employees, customers, suppliers, and the environment. We truly believe that acting as a responsible business in harmony with societal and environmental needs will contribute to lasting economic success.

In 2023, we further sharpened our focus on sustainability and defined a roadmap for 2025 that allows us to make a positive impact with short-term tangible improvements, as this is where we believe our focus should be. Our targets and commitments support our sustainability principles reflecting our new material topics and selected UN SDGs.

We will continue to encourage our employees to support sustainability, just as we aim to work with our suppliers and customers globally to ensure responsible business practices. We also aim to uphold the highest standards of governance across all levels of our organisation.

We summarise below our existing sustainability improvement principles, linking them to our targets and commitments.

Respect and protect the environment

Environmental: Sustainability principle

UN SDG alignment

  • E WEB Goal 06
    Target 6.4

    We have set a water withdrawal intensity target to increase efficiency across our business as we seek to address water challenges such as scarcity and quality

  • E WEB Goal 09
    Target 9.4

    Contributing to resource-use efficiency, we aim to consider the impact of our manufactured products on the environment in terms of raw material and energy use, waste, and carbon footprint throughout each product life cycle

  • E WEB Goal 13
    Target 13.2

    In recognition of climate change as a principal risk, we integrate it into strategic thinking and future planning

Sustainability improvement objectives

  • Invest to improve operational efficiencies by minimising environmental impact through reduced energy consumption, CO2 emissions, water use and waste management.

  • Align with recognised frameworks such as SASB, TCFD and CDP to increase transparency of actions as a core driver for change

Targets

  • Reduce absolute Scope 1 and 2 GHG emissions by 50% by 20301

  • Reduce Scope 1 and 2 GHG emissions intensity by 50% by 20252

  • Reduce absolute Scope 3 GHG emissions by 25% by 20303

  • Achieve net zero GHG emissions across the value chain by 2050

  • Ensure 70% of suppliers by spend covering purchased goods and services have science-based targets by 2028

  • Source 50% of electricity from renewable sources by 20254

  • Divert 95% of solid waste from landfill by 20255 

  • Reduce water withdrawal intensity by 40% by 20256  and continue to implement a Group Water Stewardship Programme to improve water management

  • View key principle

    • Continue to invest in development products and services aligned with a net zero future

    Environmental: Sustainability principle

    UN SDG alignment

    • E WEB Goal 07
      Target 7.3

      We invest in improving the energy efficiency in manufacturing processes, enabling the development of effective solutions for climate change adaptation and mitigation

    • E WEB Goal 09
      Target 9.5

      Our target for climate-related R&D facilitates the upgrade of our technological capabilities, bolstering our ability to help customers achieve their own climate goals

    • E WEB Goal 13
      Target 13.2

      Integrating climate considerations into product development and commercial strategy, we have set a target to ensure that new product developments contribute to decarbonisation

    Sustainability improvement objectives

    • Support and harness product innovation and quality, to help our customers deliver on their commercial and environmental goals and find effective solutions to assist them in addressing climate change

    Targets

    • Maintain 80% of total R&D spend on climate-related R&D per year to contribute to the decarbonisation of aerospace by 2025

    • Achieve 100% of new product contracts contribute to the decarbonisation of aerospace by 2025

  • View key principle

    • Prioritise health & safety, promote diversity and nurture the wellbeing and skills development of employees, and support the communities that they are part of

    Social: Sustainability principle

    UN SDG alignment

    • E WEB Goal 03
      Target 3.9

      Our business has a prominent position at the heart of the net zero transition and our products have a key role to play in achieving air pollution reductions and reducing the associated health damage

    • E WEB Goal 05
      Target 5.5

      We promote diversity and inclusion to ensure employees’ full and effective participation and equal opportunities at all levels

    • E WEB Goal 08
      Target 8.8

      We implement effective policies and procedures to drive best health and safety practices and promote fair employment and skills development

    Sustainability improvement objectives

    • Follow best health and safety practice across our operations, respect employees’ human rights and positively contribute to their communities by implementing effective policies and procedures, supported by local management accountability and a culture of strong awareness, training and investment

    • Ensure the pension schemes that we inherit are managed prudently and effectively for both employees and retirees, and where relevant, seek to create better-funded schemes with more prudent targets under our stewardship

    • Promote diversity and inclusion at all levels

    • Promote fair employment and skills development

    • Ensure that our people have a voice and can inform executive decisions

    Targets

    • Protect our employees7 from injury and accidents and maintain an LTA8 frequency rate below 0.1

    • Ensure that all permanent employees receive regular performance reviews9

    • Invest £5 million on skills development per year

    • Maintain 40% female Board membership and at least one member of an ethnic minority background on the Board

    • Achieve 40% female representation in the executive committee and its direct reports by 2025

  • View key principle

    • Exercise robust governance, risk management and compliance

    Governance: Sustainability principle

    UN SDG alignment

    • E WEB Goal 08
      Target 8.7

      We are committed to acting in an ethical manner with integrity and transparency and create effective systems and controls across the Group to safeguard our business against adverse human rights impacts

    • E WEB Goal 08
      Target 8.8

      Protect labour rights of all workers, safeguard their contractual and statutory employment rights and the right to participate in collective bargaining and freedom of association

    Sustainability improvement objectives

    • Implement and enforce effective compliance policies, ensuring integrity, responsibility and adherence to ethical principles

    • Protect the ultimate wellbeing of products’ end-users by adhering to the highest safety standards

    • Respect labour and human rights and request suppliers to respect these principles

    • Protect information security and data privacy

    • Carry out prudent and responsible financial and tax planning and management

    • Maintain sensible and sustainable leverage to support investment

    Commitment

    • Ensure that all employees, suppliers and contractors comply with our Code of Ethics, conducting business with integrity and in a responsible, ethical and sustainable manner 

  • View key principle
    • Footnotes
    1. From a 2020 baseline year.
    2. The Group’s chosen intensity ratio is energy consumption, emissions and water withdrawal reported above normalised megawatts usage (“MWh”), tonnes of CO2e, or m3 per £1,000 of revenue. The data has been standardised from the source units in which it was initially collected. The revenue figures used to calculate the intensity ratio include continuing operations under operational control only.
    3. From a 2022 baseline year. Scope 3 emissions primarily based on spend data, more weight data required to improve calculation accuracy. Target includes Scope 3 emissions from Category 3: Fuel- and energy-related activities, Category 4: Upstream transportation and distribution, Category 5: Waste generated in operations, Category 6: Business travel and Category 7: Employee commuting.
    4. Where renewable electricity is commercially and reasonably available in the relevant jurisdiction.
    5. Excluding hazardous waste.
    6. Target baselined on FY2021 with consideration of HY2022 performance. 
    7. Excluding contractors.
    8. Lost time accidents.
    9. Where permitted by local laws and employee representative bodies.