Westminster Group PLC
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Working towards ISO 14001 – Environmental Management
- Reducing energy, water, and resource consumption as well as greenhouse gas emissions
- Recycling packaging material
- Recycling equipment and parts where possible
- Use of electric vehicles where possible
- Reducing travel by continuing with remote meetings
Social Achievements
- Support and assistance provided in many regions of operation
- Support for the Westminster Group Foundation
- Structured systems to support staff and provide training programs
- Flexible working arrangements, including home working
- Free refreshments, gym time, and medical support
- Team building and social events
Governance Achievements
- Adoption of the Quoted Companies Alliance (QCA) Corporate Governance Code 2018
- Strict policies for all compliance risks and regular policy reviews
- Regular staff training on anti-bribery, sanctions/controls, and stock market requirements
- Comprehensive anti-bribery policy and procedure
- Annual anti-bribery webinar for all Directors and staff
Climate Goals & Targets
Short-term Goals:
- Develop existing corporate social responsibility and governance activities into a more formal and focused ESG strategy
Environmental Challenges
- Global economic turmoil and financial uncertainty leading to delays in contract awards
- Slippage of a multi-million-pound Technology project due to a country's budget constraints
- Continued delay in the ratification of the DRC contract
- Delay in the West African Port project due to land issues
- Strained relationship with local partners regarding the Ghana port project
Mitigation Strategies
- Cost reductions and regular risk assessments
- Processes and safe working practices, including home working
- Developing a more formal and focused ESG strategy
- Building more core business in the UK and developed world areas
- Exploring debt funding and leasing providers to transition large-scale projects to a longer-term revenue model
- Expanding the global footprint through the development of the agent network and strategic joint ventures
- Mitigation strategies developed by the Risk Committee
Supply Chain Management
Responsible Procurement
- Choosing the best products that meet customer requirements
- Exclusive supply arrangements for specific products
- Advantageous supply arrangements with leading suppliers
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: QCA Corporate Governance Code 2018, ISO 26000 (reference document)
Certifications: ISO 9001 (Quality Assurance), Working towards ISO 14001
Sustainable Products & Innovation
- Solar street lighting
- Oil leak detection