The Group and its businesses have a positive impact on the environment, principally through the information we produce which informs debate, aids decision makers and encourages research and development. We also have an impact through consumption of natural resources such as energy, water and waste generation, through our direct operations, supply chain and customer use of our products and services. We are committed to reducing any negative environmental impacts, while continually improving our environmental performance.
We assess, prioritise and mitigate environmental risks as part of our overall risk management process
. In addition, our Global Environmental Policy
applies to all areas of the business and is supported by a global Environmental Management System
(EMS), aligned with the ISO 14001 environmental standard. It outlines our obligation to “manage the environmental risks of our activities” and stipulates that “environmental risk is part of the overall risk assessment which business units are required to complete on an annual basis.” It indicates that we must consider, among other risks, those that require legislative compliance; have significant cost implications for the business; and which may affect our reputation.
Our network of Environmental Champions, together with colleagues throughout the business – including those from communications, finance, legal, HR, IT, procurement and real estate – as well as external stakeholders such as NGOs and investors, help with advice, ranking and tracking of our environmental risks and opportunities. They are reviewed during Environmental Checkpoint meetings, chaired by the CFO.
Among material environmental risks we have identified are regulation on climate change, green taxes and sustainable paper. Opportunities include increased demand for the environmental information we produce and cost savings as a result of efficiencies. See our material environmental risks and opportunities.