Amec Foster Wheeler sets out stall in sustainability
Setting the standard for corporate reporting in the professional services sector, with first combined sustainability strategy following FW acquisition
11 June 2015 / United Kingdom, Global
Amec Foster Wheeler has launched its new corporate sustainability strategy on the fifteenth anniversary of the creation of its first sustainability programme. Under the title of ‘Resilient World’ the strategy is also the company’s first to reflect the combined operations of AMEC and Foster Wheeler following their merger last year (Environment Analyst 20-Nov-14).
To maximise the opportunity for stakeholders to understand the sustainability strategy and engage with the business, Amec FW has dispensed with the traditional hard-copy publication and instead offers its report via an interactive website. Users are able to download sections of the report specific to their needs or interests using a range of fact sheets, case studies and corporate data which will be updated in real-time.
The company - a publicly-listed firm with shares trading on both the London Stock Exchange and New York Stock Exchange - said that the interactivity of the online reporting format allows those interested to access different levels of content – from high level as may be required by an Amec FW employee to more detailed content and KPIs for the expert reader or analyst.
Frances Fay, global head of sustainability at Amec FW, told Environment Analyst: “The launch of the sustainability website - which provides a live ‘living report' of our activities - and new sustainability strategy is the culmination of several years’ work including extensive stakeholder engagement sessions and an in-depth strategic review. We took on board elements of existing best practice in terms of web-based reporting, including from industry leaders such as BP.
“The acquisition of Foster Wheeler gave us the perfect opportunity to take a step back and really look at what we were doing and if we could better meet the needs of different stakeholder groups including our own employees/management, investors, key clients and industry groups.”
Fay believes that the improved visibility and functionality offering real-time reports differentiates Amec FW from its consultancy/support service rivals and wider industry peer group, as does the firm’s commitment and level of ambition in the sustainability arena. “We have high-level ambition in how we are approaching sustainability as an organisation and because of that it really stands out from the peer group in terms of how transparent and accountable we are to stakeholders."
“We want to be recognised as a leader in sustainability best practice,” she said.
Strategy
Under the common thread of creating a ‘resilient world’, Amec FW’s sustainability strategy encompasses corporate, social and environmental responsibility, and also aligns with the group's wider mission, business and brand. The firm said it “commits the company to helping to solve tomorrow’s natural resource challenges in partnership with customers, colleagues and suppliers”.
The strategy focuses on three pillars, as follows:
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People - investing for tomorrow by developing a diverse, inclusive and talented workforce which exhibits company values and behaviours to drive sustainability;
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Innovation - delivering innovation technologies, solutions and services that add business value for customers whilst minimising environmental impacts; and
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Delivery - being a trusted partner by embedding a consistent sustainability standard across all projects.
The company said it is committed to measuring itself against these aspirations through a series of "stretching targets which will be developed in detail over the coming months". In 2014 for instance, the firm was able to reduce carbon-related emissions from business travel by 4% from the previous year’s levels.
Amec FW also said it is committed to re-qualifying for inclusion in the Dow Jones Sustainability Index, to the principles of the UN Global Compact and to reviewing its policies, procedures and processes to achieve higher levels of sustainability.
Fay said: “Behaving ethically and being a leader in sustainable business practice is extremely important to us, not just because our customers and employees demand it, but because it is the best way to create long-term value in our business. We called our new strategy Resilient World as we hope to make a real difference to the world’s natural resource challenges.”
One of the biggest challenges in implementing the strategy for Fay will be “to ensure we embed the new culture across the entire organisation” which currently numbers some 40,000 staff working in 50 plus countries. But she is confident that the experience of “living and breathing it ourselves” will also help Amec FW’s consultants to sell sustainability services to its clients.