As a public limited company (PLC) it is important for us to be able to demonstrate to our customers, colleagues, investors, and shareholders that we are doing business in a way that is better for both people and planet.
Our environmental, social and corporate governance (ESG) commitments are made up of our Responsibly Joules objectives and targets, which demonstrate the work we are doing to deliver on this.
We are proud to have established an ESG-linked financing facility with Barclays Bank Plc. This financing agreement links the margin on the facility with Joules’ performance against three of our Sustainability Performance Targets (SPTs) within our Responsibly Joules commitments. These targets are;
- Reducing our carbon emissions intensity
- Delivering 100% more sustainable raw materials in our products
- Increasing our employee engagement score
Progress against these targets will be reported alongside our annual results as part of our Responsibly Joules annual update.
This arrangement reflects Joules’ strong commitment to operating responsibly and sustainably and delivering on our Responsibly Joules objectives, to benefit our colleagues, communities, and the environment.
We know we have a responsibility to minimise our carbon emissions to support global initiatives such as the United Nations Sustainable Development Goals and global agreements including the Paris Agreement. Therefore, we have committed to continuing to reduce the emissions from our internal operations (scope 1) and energy usage (scope 2) by putting a target in place to reduce our carbon intensity by -25% over the next 3 years.
We also know that we have a responsibility to set targets and work with our suppliers to reduce the indirect emissions from our supply chain, work has started on this next stage and is a priority focus for our team in the next stage of our Responsibly Joules journey.