Responsibility to protect and restore nature
Since we recognise the value of biodiversity, we consider the many benefits that the natural environment provides and our responsibility to protect and restore nature.
Biodiversity represents the variety of all life on earth; vital to the functioning of our ecosystems, it provides a wealth of benefits to ensure our planet remains habitable. Protecting biological diversity is crucial to the survival of plant and animal species, genetic diversity and natural ecosystems which ensure clean water and air and contribute to food security and human health.
Influence on business
The impact to business a loss of biodiversity and natural capital presents can include the quality and quantity of raw materials, increased costs of commodity supply chains and the introduction of unmanaged risks in supply chain, affecting future cash flow and operational continuity.
Protect and restore
Loss of biodiversity and habitat can also result in disproportional harm to those most vulnerable in society, presenting not just the risk of environmental damage, but also social inequality challenges.
How biodiversity & sustainable sourcing is fundamental to our business
Wood provides a range of consultancy services and technical expertise to clients across a range of environmental challenges, we deliver projects that support our clients focus on biodiversity, remediation and responsible land and water use.
As a service provider, in many instances we operate under limited operational control. Our support to client operations, often through partnership and collaboration, is predominantly where we demonstrate our impact on biodiversity and protection of natural capital alongside sustainable sourcing.
Where we retain operational control, Wood’s mandatory environmental standards ensure consistent delivery of environmental management across all our operations, complimented by our environment standards self-assessment tool and periodic assurance on our activities.
Training to aid the implementation of our standards includes a focus on biodiversity and in particular the protection of sensitive environments.
Biodiversity and sustainable sourcing, although an important topic, is not identified as a priority in our most recent materiality assessment. We do however recognise the developing reporting frameworks on biodiversity and the protection of nature, in particular the Task Force on Nature Related Financial Disclosures (TNFD), which features in our evolving ESG risk register.
Wood operates under varied degrees of operational control as a service provider. We seek to deliver impact on this topic through our service offering and sourcing decision, alongside our ability to influence clients through the subject expertise.
Our published guides on taking climate action and reducing single use plastics are intended to raise awareness on both carbon reduction and resource consumption, providing our employees with advice and helpful tips on how to reduce their footprint both at home and in the workplace.