Embedding sustainability in our governance ensures we manage and retain focus on key sustainability issues.
We seek to be transparent in our approach to sustainability. As our journey on sustainability evolves, so too will our governance mechanisms; we are committed to remaining transparent on our journey through the external publication of key policies, documents and reports. We aim to keep all our stakeholders informed on the topics material to our business and on the impact we have on sustainable development.
Wood's sustainability strategy is informed by our materiality process and assessment every three years. Performance is disclosed across a range of global reporting frameworks and standards, guiding our approach and ambition in delivering Wood's contribution and commitment to sustainable development.
We conduct periodic materiality assessments to inform our strategic direction over a 3-year period, or where there is significant change in the business. This approach makes sure we focus on the topics most valuable to our business and stakeholders.
Details on our materiality assessment can be found on our materiality page.
Reporting standards and frameworks
We use the globally recognised reporting framework of GRI as a guide towards sustainability reporting and disclosure. Mapping our progress against the GRI standards, our index is intended to provide transparency on our programme evolution and will act as our reference towards future disclosure and reporting goals.
Wood is a participant to the United Nations Global Compact and supports the Ten Principles of the United Nations Global Compact on human rights, labour, environment and anti-corruption. In addition, we aim to demonstrate our contribution to the UN Sustainable Development Goals (SDGs), through pledges we make, the services we provide and how we choose to deliver our solutions.
Wood supports the principles of the TCFD disclosures through disclosures in our Annual Report and Accounts, Sustainability Review and voluntary CDP Climate Change reporting. The below index is intended to guide our stakeholders to where we disclose information against each of the recommendations, where this is held in the public domain.
As our primary method of disclosure on climate change, Wood submits annually to the CDP Climate Change questionnaire. As the largest registry of corporate GHG emissions in the world, CDP disclosure allows investors & cities to better understand risk, capitalise on opportunities and make investment decisions that drive action toward a more sustainable world. Wood has been submitting to the voluntary questionnaire since 2011, helping us to:
- Identify the key risks and opportunities associated with climate change.
- Increase transparency to our shareholders, clients, and general public.
- Benchmark our organisation against our peer and industry groups.
Current Score: B (2023)
