Latest trade price at 04:30 PM 109.90p HOME WHO WE ARE SUSTAINABILITY CLIMATE CHANGE SUSTAINABILITY Climate change Tackling climate change is critical to our ESG framework and of utmost importance to our business model and strategy. Our Net Zero target supports the principles of the Paris Agreement, the UK government’s Net Zero goal, and is aligned with our clients’ own ambitions as the sector moves towards a net zero future. Downloads CLIMATE CHANGE PETROFAC 2020 ANNUAL REPORT PETROFAC TCFD CLIMATE RESPONSE REPORT 2020 ESG DATASHEET ENVIRONMENTAL POLICY Committing to Net Zero carbon by 2030 We have set an ambitious target to reach Net Zero in Scope 1 and 2 emissions by 2030, and work to influence our supply chain to set their own reduction targets. To achieve this, we will focus on three areas: Enable – encourage our staff to be Net Zero advocates and support our clients, partners and suppliers in achieving their lower carbon ambitions Reduce – cut our emissions by implementing energy efficiencies, optimising our operations and methods of construction, and reducing flaring and venting Transform – switch to renewable energy, phase-in hybrid and electric vehicles on site, and fit smart building technology in our offices to maximise energy efficiency Over the next three years we will drive progress against these ambitions. We are targeting a 3% annual reduction in Scope 1 and 2 emissions intensity, through switches to renewable energy, emissions reductions, and cleaner transport. We will also establish a programme to assess our Scope 3 emissions baseline as we look to decarbonise our supply chain in future years. CDP RATING B We continued to enhance our climate change programme and achieved Carbon Disclosure Project (CDP) rating of ‘B’ in 2020 GHG REDUCTION 20% We are on target to meet our commitment to reduce GHG intensity by 20% NET ZERO 0 We are committed to Net Zero by 2030 PLAY VIDEO SUSTAINABILITY Journey to NET ZERO PLAY VIDEO Compliance with the TCFD To better understand the potential impacts of climate change on the business, we continued to work towards full compliance with the recommendations of the Task force on Climate-related Financial Disclosures (TCFD). We formed a working group with representatives from our environmental, finance, risk and governance teams. The working group looked at how Petrofac might be impacted by a changing climate, to provide the leadership team with future-looking insight on likely climate risks and opportunities. You can find out more about how we are approaching the financial risks and opportunities related to climate change in our TCFD report. GET THE TCFD REPORT RELATED LINKS You might be interested in GOVERNANCE Risk management FIND OUT MORE SUSTAINABILITY Our approach to ESG and sustainability FIND OUT MORE SUSTAINABILITY Our work on the environment FIND OUT MORE SUSTAINABILITY A-Z of sustainability FIND OUT MORE Quick links Investors Media Careers Who we are Services Markets Accessibility and legal Accessibility Legal notice Privacy and cookies Work with us Vendors and suppliers Find a contact Find an office Find a service LinkedIn YouTube Instagram Twitter ©Petrofac Limited 2021 Registered Office: 44 Esplanade, St Helier, Jersey, JE4 9WG Home Sitemap UK Modern Slavery Act Our use of cookies We use necessary cookies to make our site work. We'd also like to set optional analytics cookies to help us improve it. We won't set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences. For more detailed information about the cookies we use, see our Cookies page ACCEPT RECOMMENDED SETTINGS Necessary Cookies Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions. Analytics cookies We'd like to set Google Analytics cookies to help us to improve our website by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone. For more information on how these cookies work, please see our Cookies page. Analytics cookies On Off About this tool (Opens in a new window) External Link Icon Cookie Control