We continue to make progress in our management of sustainability at Urenco. Each quarter we collect and interrogate our sustainability data. The Managing Director of every enrichment facility is accountable for the sustainability of their site. Additional responsibility and ownership for the delivery of ESG areas of the sustainability strategy are divided among senior level sponsors.
All of our sites are represented by site data representatives who collate and analyse sustainability related data in accordance with the Global Reporting Initiative (GRI) sustainability standards. They work alongside Group data representatives who monitor Urenco’s performance against its non-financial KPIs listed on this page.
In 2013, we established a Sustainability Committee, which meets three times a year and includes a meeting at one of our enrichment facilities with senior management from across the organisation. This ensures sustainability is incorporated into all operational and strategic decision making and is embedded across the organisation. The Chair of the Sustainability Committee, Miriam Maes, is also a Non-Executive Director and member of our Audit Committee. Miriam’s Board-level involvement demonstrates the depth of our commitment in this area.
The Executive Committee and senior leaders provide additional high level support for the work of the Sustainability Committee and help drive our performance in this area.
Urenco works to the highest standards across all its activities following a clearly defined and straightforward quality management system and a programme of continual improvement. We have obtained certificates which demonstrate our ability to meet international standards for Quality Management Systems, Environmental Management Systems, and Information security, cybersecurity and privacy protection.View all of our quality certificates
Urenco made its first submission to the Carbon Disclosure Project (CDP) in 2021. As a global, publicly available database, the CDP rating acts as a credible standard that customers, financial lenders and creditors can use in their decisions surrounding Urenco. By disclosing our environmental data to the CDP, which includes our carbon performance, climate risks and mitigation, targets and examples of our energy policy engagement work, we can benchmark our performance against nearly 12,000 other scored companies. Our most recent climate change disclosure was rated B and our supplier engagement on climate change was rated A-.Read about our latest CDP rating
2021 also saw Urenco sign a new sustainability-linked bank facility. As part of the facility negotiation, we presented Urenco’s sustainability objectives to our banks. The bank facility includes commitments on carbon reduction, water management and safety. If we achieve pre-set targets, we will benefit from slightly cheaper interest costs. If we fail, we will need to explain why and have higher costs.
Urenco is working in partnership with EcoVadis to independently assess our suppliers’ sustainability and validate their eco-credentials. This partnership supports us to make more informed, sustainable procurement decisions and increase our collaboration with the supply chain in pursuit of net zero. We recently achieved a bronze medal rating in our first assessment by EcoVadis, meaning we are in the top 50 percent of all rated organisations. So far 225 of our 358 suppliers have achieved a medal rating from EcoVadis, ranging from bronze right up to platinum.
We are also a member of the World Business Council for Sustainable Development (WBCSD) and we are supporting their project The Climate Drive, a centralised digital platform providing businesses with knowledge and solutions to decarbonise their value chains. The site features tools that companies can use to address challenges they are facing in implementing plans to reduce their emissions.
At Urenco we listen, engage and partner with our stakeholders through open and honest dialogues to continue our services and further our sustainability efforts.
Our stakeholder engagement policy is a core aspect of our commitment to good governance, which enables us to educate our stakeholders about our operations and our industry and also to understand specific issues and concerns.
We engage with our stakeholders in various ways throughout the year including investor presentations, physical and virtual tours of our enrichment facilities, press releases, conferences and local community events.
Find out more about our stakeholder engagement in our annual report.
Urenco proactively advocates the role of nuclear energy in achieving a sustainable and low-carbon energy future and recognises the importance of the use of a science-based external approach – the 1.5°C goal of the Paris Agreement – to provide a stable framework aimed at reducing the impact of human induced climate change.
In order to support making this vision and the Paris Agreement a reality, Urenco engages in dialogue with policymakers, regulators, business associations, like-minded business partners, NGOs, as well as a range of climate-focused membership bodies, coalitions, and stakeholder initiatives.
In line with our commitment to tackle climate change and accelerate the transition to a net zero economy, Urenco is committed to conducting all its direct and indirect public policy engagement and advocacy work to align with and advance the Paris Agreement goals and accelerate the transition to a 1.5°C future.
Our key performance indicators (KPIs) are metrics to demonstrate how our performance meets strategic targets. These strategic targets are objectives or milestones we wish to achieve by specific dates.