Climate Change Data

Environmental Metrics

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• The COVID-19 pandemic caused simultaneous aviation demand and supply-side shocks, impacting global airline traffic and revenue.

Mitigation Strategies

• Government intervention and stimulus packages (approximately $7 trillion globally) were implemented to support the aviation sector.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Climate Change
• Supply Chain Sustainability
• Executive Compensation Alignment with ESG

Environmental Achievements

• Some major FMCG companies are taking responsibility for their supply chains by helping suppliers enhance energy efficiency, adopting soil and water management practices and prioritizing zero-deforestation.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate events (hurricanes, flooding, fires), lack of formal requirements to reduce emissions for FMCG supply chains, disconnect between company-level climate change strategies and executive compensation.
• Consumer dilemma: balancing affordability with environmentally friendly products.
• Difficulty in selecting meaningful metrics for executive compensation that accurately reflect climate change efforts without diluting financial metrics.

Mitigation Strategies

• Some major FMCG companies are helping suppliers enhance energy efficiency, adopting soil and water management practices and prioritizing zero-deforestation.
• Shifting aspects of portfolios to offer environmentally produced and packaged products while maintaining market share.
• Unilever's example of using a Sustainability Progress Index in executive compensation.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Helping suppliers enhance energy efficiency, adopting soil and water management practices and prioritizing zero-deforestation.

Climate-Related Risks & Opportunities

Physical Risks

• Hurricanes, flooding, fires

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products, plant-based alternatives

Reporting Standards

Frameworks Used: Science Based Targets Initiative

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Plant-based meats

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Modern Slavery
• Human Rights
• ESG

Social Achievements

• Annual training on modern slavery delivered to all colleagues in March 2023.
• Resumed site visits of Mumbai operations in FY23.

Governance Achievements

• Established a cross-functional Modern Slavery Risk Management (MSRM) team.
• Implemented a Supplier Modern Slavery Risk Management Procedure.
• Incorporated modern slavery enquiries into tender packs for prospective suppliers.

Climate Goals & Targets

Environmental Challenges

• Risk of modern slavery in supply chains, particularly in cleaning and security services and technology hardware sourcing.
• Difficulty in detecting modern slavery hidden deep within complex supply chains.

Mitigation Strategies

• Engaged an external human rights advisor to conduct a high-level review of modern slavery risk.
• Implemented a Supplier Modern Slavery Risk Management Procedure with risk assessments and corrective action plans.
• Used Modern Slavery Questionnaires for new suppliers.
• Collaborated with property managers to review controls around vulnerable workers (cleaners).
• Implemented a Whistleblowing Policy for reporting incidents of modern slavery.

Supply Chain Management

Supplier Audits: 30 new suppliers onboarded in FY23

Responsible Procurement

• WTW Supplier Risk Management Framework
• WTW Supplier Modern Slavery Risk Management Procedure
• Inclusion of modern slavery enquiries in tender packs and supplier agreements.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Modern Slavery Act 2018 (Cth), UN Guiding Principles on Business and Human Rights (UNGPs), UN Sustainable Development Goals (SDGs)

UN Sustainable Development Goals

• Target 8.7

Taking action to eradicate forced labour and end modern slavery.

Environmental Metrics

ESG Focus Areas

• Climate Change
• Resilience

Climate Goals & Targets

Environmental Challenges

• Record-breaking heatwaves and exceptional lightning strikes leading to wildfires.
• Aging infrastructure vulnerability to extreme weather events.
• Increased frequency of pluvial flooding in urban areas.
• Unusually high sea surface temperatures in the Mediterranean Sea.
• Panama Canal drought due to low freshwater levels.
• Record-breaking decline in Antarctic sea ice.

Mitigation Strategies

• Downward counterfactual analysis to better prepare for future events.
• Implementing resilient urban design concepts (sponge cities).
• Utilizing high-resolution flood modeling tools.
• Enhancing early warning systems.
• Ecological restoration and proactive land management.
• Community-focused recovery strategies.
• Advanced natural hazard modeling tools.
• Building more dams to supplement Lake Gatún.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Flooding
• Droughts
• Wildfires
• Heatwaves
• Sea level rise