Barloworld is committed to the ongoing creation of shared value for all its stakeholders through the purposeful stewardship of the six capitals and balancing our stakeholders’ interests.
Value creation for stakeholders is impacted by the group’s Purpose: Inspiring a world of difference, enabling growth and progress in society, its three strategic objectives (Deliver top quartile shareholder returns; Drive profitable growth; Instil a high-performance culture) and its sustainable development framework and its commitment to being a responsible corporate. Indicators addressed under Environment are covered by our sustainable development framework and our commitment to being a responsible corporate, and the Natural and Social capitals.
Our strategic framework and approach, including strategic pillars, are endorsed by the board and institutionalised reporting structures ensure board oversight of progress.
Barloworld’s Worldwide Code of Conduct defines foundational principles of responsible corporate citizenship that include 'Protect the Environment', and sets out the group’s five core values. It determines how our aspirations and values are translated into actions and behaviours. Our code of conduct reminds us of the standards to which employees and the group are accountable, and consequently it also informs the group of what is to be regarded as material.
Sustainability, one of our core values includes ‘We focus on environmental responsibility and preventing waste’.
The power of positive impact
We focus on environmental responsibility and preventing waste
We focus on improving the quality and efficiency of our operations while reducing our environmental impact. We support environmental stewardship and biodiversity by utilising business processes that enable waste prevention, improve quality and promote the efficient use of resources in operations. We are committed to complying with environmental laws and regulations and expect our suppliers to do the same. (Barloworld Worldwide Code of Conduct)
We innovate to make our customers more efficient and productive
We innovate to provide customers with products, services and solutions that improve the sustainability of their operations. We leverage technology and customer insight to improve product performance, and promote remanufacturing to extend product life and make our workplaces more productive, safer and more efficient. We support sustainable solutions that protect and preserve the environment while leading to profitable growth for Barloworld and our customers. (Barloworld Worldwide Code of Conduct)
Internally, improving non-renewable energy consumption and greenhouse gas efficiencies, implementation of renewable energy solutions, efficiency-of-use of natural resources, water stewardship and responsible waste management have been identified as material aspects.
We are committed to conducting our operations in an environmentally responsible manner and providing innovative customer solutions that assist our customers to achieve their environmental objectives.
We remain mindful of environmental stewardship as we engage with our suppliers and customers in such a manner that every effort is expended in ensuring that the products we represent and our customer solutions comply with the relevant environmental standards and are used in a manner that limits their impact on the environment.
We took the decision not to set group level targets as the environmental aspects of our business units differ materially. The business unit targets implemented for FY2021 – FY2025 (using FY2020 as a baseline) were informed by material operational environmental aspects and included efficiency targets for fuel efficiency, electricity consumption, water consumption and waste reduction and responsible disposal. Reductions achieved by business units will consequently result in an overall reduction in the group’s non-renewable energy consumption, water consumption, emissions and waste generation.
Performance against set targets are monitored internally on a monthly basis and drive focus to better understand consumption drivers and related correlations. The increased focus, measurement and monitoring has given rise to the identification of limited anomalies in certain divisions which require further investigation and may give rise to restatements of baseline intensities, changes to identified intensity drivers or actual performance. We appreciate that the set efficiency targets have not previously been set at this granular level within Barloworld, but believe this approach is necessary to ensure targets remain operationally relevant for management purposes and reducing our environmental footprint. The targets and the target-setting process will evolve as we enhance our understanding and in response to changes in the operating context and stakeholder expectations. Given the above, we have opted not to disclose the targets and related performance this year and anticipate disclosure of the same in the next financial reporting period.
Consideration is being given to the material environmental aspects for the next strategic period and will confirm our approach and relevant future targets.
Monitoring and Reporting
In accordance with our environmental policies, we measure, monitor and report aspects of our business that impact on the environment. Where practicable, we strive to reduce, minimise and offset activities that contribute to climate change. Our reporting is guided by the Global Reporting Initiative’s (GRI). Sustainability Reporting Standards and we also responded to the 2021 CDP Climate Change and CDP Water questionnaires. See also: Barloworld’s alignment to the United Nation’s Sustainable Development Goals. Governance processes are in place that ensure oversight of environmental aspects and related impacts at a Board level. A quarterly Safety, Health and Environment (SHE) report is tabled and presented to the Group Social, Ethics and Transformation Committee, a sub-committee of the Board of Directors. Divisional Risk and Sustainability Committees adopt a similar oversight role at an operational level.
Reporting systems and assurance processes contribute towards the efficiency and credibility of our environmental reporting. Assurance processes include management reviews, ad-hoc internal audits and an agreed upon procedure review on selected material sustainability indicators at year-end.
- Barloworld Environmental Policy
- Barloworld Climate Change Policy
- Barloworld Waste Use and Management Policy
- Barloworld Energy Efficiency Policy
- Barloworld Waste Management Policy
- Barloworld’s 2021 CDP Climate Change disclosure
- Barloworld’s 2021 CDP Water security disclosure