Balfour Beatty, an international infrastructure group, has unveiled its evolved Sustainability Strategy, emphasizing its commitment to sustainable and ethical business practices. The strategy encompasses six focus areas, including climate change, nature positive, resource efficiency, supply chain integrity, community engagement, and employee diversity, equity, and inclusion. The company has advanced its UK-based target to create £3 billion of social value by 2025 and has introduced new net zero targets validated by the Science Based Targets initiative. Balfour Beatty has also invested in understanding and enhancing its reporting of Scope 3 carbon emissions and is working to reduce emissions throughout the value chain.
The company has revised its net zero targets for Scope 1 and 2 emissions to 2045 and Scope 3 to 2050, recognizing the challenges in a carbon-intensive industry. Balfour Beatty takes a "Think Global, Act Local" approach, combining 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, expressed the company's commitment to driving progress for the business, industry, communities, employees, and the world. Jo Gilroy, Group Director of Sustainability at Balfour Beatty, highlighted the validation of the company's science-based carbon targets by the Science Based Targets initiative, marking a significant milestone in the journey to net zero carbon emissions.
The Rt Hon, the Lord Deben, Chairman of Sancroft, commended Balfour Beatty's meaningful program for delivering against sustainability commitments and targets, particularly in the transparency of their Carbon Reduction Plan. The company's Building New Futures Sustainability Strategy and detailed UK Carbon Reduction Plan are available on its website for further insights. Balfour Beatty's efforts align with its role in delivering powerful new solutions, shaping thinking, and creating critical infrastructure that supports national economies and local communities. 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.
For media inquiries, contact Antonia Walton at Balfour Beatty. All non-media related inquiries should be directed to +44 (0)20 7216 6800 or [email protected].