BAT awarded A-score and named in top 200 ‘A List’ companies for climate change action
08 December 2020
The BAT Group (BAT) has today announced it has been given an ‘A’ score for climate change and has been included as an ‘A List Company’ by the Carbon Disclosure Project (CDP). BAT is one of only 200 organisations selected from nearly 6,000 applicants for inclusion in the prestigious listing.
The CDP’s annual ‘A List’ names the world's leading organisations on environmental transparency and performance. BAT’s inclusion is recognition of the Group’s commitments and actions to address environmental risks and to build a sustainable economy.
ESG is a key driver of BAT’s transformational journey to build A Better Tomorrow by reducing the health impact of its business through providing consumers with a wide range of enjoyable and less risky products. BAT continues to be clear that combustible cigarettes pose serious health risks, and the only way to avoid these risks is not to start or to quit. BAT encourages those who otherwise continue to smoke, to switch completely to scientifically-substantiated, reduced-risk alternatives.
In support of this purpose, BAT announced a number of stretching sustainability targets including becoming carbon neutral in its operations by 2030. BAT is making good progress towards this ambition by reducing impacts across its operations and supply chain, including eliminating unnecessary single-use plastics, improving the energy efficiency of its factories and increasing the use of renewable energy.
Kingsley Wheaton, Chief Marketing Officer, BAT said:
“Sustainability is at the heart of our business and we are delighted to see our increased focus on climate change recognised through our inclusion on the CDP A List.
“Tackling climate change is an issue that requires immediate attention and is essential for building a resilient economy and society. Given its importance, climate change is a clear priority in our ESG strategy that is driving the transformation of our business as we build A Better Tomorrow for all our stakeholders.”
Click here to see the list of companies on this year’s CDP A List: https://www.cdp.net/en/companies/companies-scores
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. Over 9,600 responded – the highest ever.
A detailed and independent methodology is used by CDP to assess companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are marked with an F.
This communication contains certain forward-looking statements, including “forward-looking” statements made within the meaning of Section 21E of the United States Securities Exchange Act of 1934. These statements are often, but not always, made through the use of words or phrases such as “believe,” “anticipate,” “could,” “may,” “would,” “should,” “intend,” “plan,” “potential,” “predict,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “outlook”, “target” and similar expressions. These include statements regarding our intentions, beliefs or current expectations concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the economic and business circumstances occurring from time to time in the countries and markets in which the BAT Group operates.
All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual future financial condition, performance and results to differ materially from the plans, goals, expectations and results expressed in the forward-looking statements and other financial and/or statistical data within this communication. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are uncertainties related to the following: the impact of competition from illicit trade; the impact of adverse domestic or international legislation and regulation; changes in domestic or international tax laws and rates and the impact of an unfavourable ruling by a tax authority in a disputed area; adverse litigation and dispute outcomes and the effect of such outcomes on the BAT Group’s financial condition; changes or differences in domestic or international economic or political conditions; the impact of the COVID-19 pandemic; adverse decisions by domestic or international regulatory bodies; the impact of market size reduction and consumer down-trading; translational and transactional foreign exchange rate exposure; the impact of serious injury, illness or death in the workplace; the ability to maintain credit ratings and to fund the business under the current capital structure; the inability to develop, commercialise and rollout New Categories; and changes in the market position, businesses, financial condition, results of operations or prospects of the BAT Group.
It is believed that the expectations reflected in this communication are reasonable, but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements reflect knowledge and information available at the date of preparation of this communication and the BAT Group undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.
No statement in this communication is intended to be a profit forecast and no statement in this communication should be interpreted to mean that earnings per share of British American Tobacco p.l.c. (the Company) for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.
Additional information concerning these and other factors can be found in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Annual Report on Form 20-F filed on 26 March 2020 and Current Reports on Form 6-K, which may be obtained free of charge at the SEC’s website, http://www.sec.gov, and the Company’s Annual Reports, which may be obtained free of charge from the British American Tobacco website www.bat.com.