99 SECTION 4 SUSTAINABILITY JOURNEY INTEGRATED ANNUAL REPORT 2025 Our Climate Transition Pathway Our pathway is built on a clear, target-driven approach across short-, medium-, and long-term horizons. Our strategy is focused on three core pillars designed to achieve our targets and build long-term resilience: 1. Decarbonising Our Operations This is our primary lever for achieving our short-term Net Zero (Scope 1 & 2) emissions by 2026 target. Key actions include: • Addressing Scope 1 Emissions: Implementing lowcarbon fuels, such as the use of biodiesel at our Batam fabrication site. • Addressing Scope 2 Emissions: Aggressively expanding our on-site solar energy generation capacity across our global facilities. • Addressing Residual Emissions: Leveraging our Wasco Forest initiative as a high-integrity, naturebased solution for insetting. 2. Capitalising on Transition Opportunities We are actively leveraging our deep engineering expertise to support the global shift to a lower-carbon economy. This not only prepares our business for the future, but also opens up significant new revenue streams. We are applying our core competencies to emerging growth sectors, including: • CCS pipelines • Infrastructure for offshore wind farms • Advanced energy and cooling systems for data centres 3. Engaging Our Value Chain To address our long-term Net Zero (Scope 1, 2, and 3) emissions by 2050 ambition, we launched the STEP programme (refer to page 78). This initiative is our primary vehicle for engaging key suppliers on climate action, building their capacity to measure and manage their own emissions, and fostering the collaboration needed for deep value chain decarbonisation. Our climate strategy is designed to ensure Wasco’s long-term resilience and to position us as a key partner in the global energy transition. We are moving beyond simply managing our own footprint to actively evolving our business model to align with a low-carbon future. Our approach is to mitigate the risks inherent in this transition while capitalising on the significant opportunities it presents. CLIMATE STRATEGY AND RISK MANAGEMENT Wasco Forest Carbon Stock (tCO2e) Scope 2 Reduction Initiative (tCO2e) Scope 1 Reduction Initiative (tCO2e) Total Net Emission (tCO2e) Total Initial Emission (tCO2e) Wasco’s Commitment to Net Zero Scope 1 and 2 by 2026 Total Scope 1 & 2 Emissions (tCO2e) 60,000 50,000 40,000 30,000 20,000 10,000 0 2023 2022 2024 2025 2026 25,225 29,512 44,789 40,746 49,762 44,790 23,545 17,113 4,132 49,970 34,693 29,785 4,560 5,181 5,181 5,360 3,656 SUSTAINABILITY JOURNEY
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