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BAE Systems Publishes Its 2021 Integrated Annual Report

Published 04-04-22

Issued by BAE Systems

Summary

We are progressing our net zero ambition and are developing milestones in line with the UN Race to Zero via the Business Ambition for 1.5°C pathway.

Report Highlights

We are a business that operates responsibly and sustainably, addressing our material Environmental, Social and Governance (ESG) risks and opportunities via our sustainability agenda.

Our sustainability agenda supports our Purpose and aligns stakeholder priorities with the Group’s ESG risks and opportunities. Our objectives go hand in hand with our focus on improved performance and we continue to increase our ambitions and accelerate our progress in this area.

We are working towards a consistent, aligned framework and strategy from the Board through to the shop floor. A well-understood and clear programme is critical as we progress towards our targets and look to retain and recruit the very best talent to drive strong operational performance and value for our customers and shareholders.

While ever-evolving, ESG themes are not new to us, as we have been addressing them for many years with a robust operational framework and review process in place.

We all recognise the ESG agenda is broad, with many criteria and changing priorities. Through engagement with our stakeholders, we focus on the ESG areas which are most material to our sector, our communities and our business. We then apply a collective focus in addressing and managing the associated risks with our customers and supply chain.

From a materiality perspective, during 2021 we engaged with internal and external stakeholders regarding material sustainable issues for the Group. This materiality process confirmed that the Group is addressing and managing, via its sustainability agenda, the material ESG issues.

From a governance and reporting perspective, we have once again reported against the Sustainability Accounting Standards Board (SASB): 2021 Disclosures.

Our 2021 highlights include:

  • To play our part in solving the challenge of climate change, we launched our ambition for net zero during 2021 setting ourselves the target of:
    • achieving net zero greenhouse gas emissions across our operations (Scope 1 and 2) by 2030. We aim to do this by reducing our emissions as a minimum in line with the 1.5°C pathway; and
    • working towards a net zero value chain by 2050
  • We also strengthened our net zero pathway by signing up to the UN Race to Zero via the Business Ambition for 1.5°C campaigns. Our UK business intends to submit net zero milestones for the Science Based Targets initiative during 2022. We will look to extend this to other parts of the Group as we mature the development of our net zero roadmap and our related internal processes
  • We have included in the report climate-related disclosures consistent with the Task Force on Climate-related Financial Disclosures (TCFD) Recommendations and Recommended Disclosures pursuant to Listing Rule 9.8.6(R)(8)
  • Our updated Code of Conduct was rolled out globally to employees during 2021 and incorporates changes to internal policies and processes and external best practice. An employee engagement programme and manager-led scenario training supported awareness and understanding of the revised Code
  • We maintained our focus on identifying, securing and developing the diverse range of skills and capabilities required to meet our customers’ current and future needs
  • During 2021 we contributed more than £11m to local, national and international charities and not-for-profit organisations through our community investment programmes. This includes charitable sponsorships, donations, employee fundraising and volunteering

For more information on the 2021 Annual Report click here.

For more information on Sustainability click here.

At BAE Systems we serve, supply and protect those who serve and protect us, in a corporate culture that is performance driven and values led. We employ a skilled workforce of 90,500 people in more than 40 countries. We help our customers to stay a step ahead when protecting people and national security, critical infrastructure and vital information. We also work closely with local partners to support economic development through the transfer of knowledge, skills and technology.

Media Contact:

24 hour media hotline: +44 (0) 7801 717739
Email: baesystemsinfo@baesystems.com

BAE Systems

BAE Systems

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