Climate Risk Management
Identifying, assessing and monitoring climate risks across our businesses.
Our robust Risk Management Framework is used to identify and manage all our strategic and operational risks, including our climate-related risks.
Our key climate risks and opportunities
To ensure our risk management approach remains robust and responsive, we have integrated climate-related considerations into our Risk Management Framework. This includes at least annual review of risk assessments to reflect the current operating environment, as well as evaluating controls and treatment plans to ensure our risk mitigation strategies remian effective and appropriate. By embedding climate-related risks and opportunities into our broader risk management processes, we aim to enhance resilience and to support sustainable long-term business outcomes.
Understanding our climate-related risks and opportunities
Physical Risks
- Major flooding impacts on our roads
- More extreme and frequent heatwaves/ extreme heat impacts on our roads
- Health and safety of employees and customers due to climate change
Transition Risks
- Ineffective management of emissions profile
- Emergence of new regulations
Opportunities
- Access to new business and capital due to enhanced trust and reputation arising from strong sustainability practices
- Significant cost savings through reductions in energy use and GHG emissions