95 SECTION 4 SUSTAINABILITY JOURNEY INTEGRATED ANNUAL REPORT 2025 ECONOMIC As a globally leading integrated energy group, Wasco recognises that our long-term economic success is intrinsically linked to our sustainability performance. We believe that by managing our environmental and social impacts responsibly, we build a more resilient business, create new opportunities, and deliver durable value to all our stakeholders. This section outlines how our sustainability strategy drives our economic performance and contributes to the economies where we operate. HOW SUSTAINABILITY DRIVES OUR ECONOMIC PERFORMANCE Our commitment to sustainability is not separate from our business strategy; it is a core driver of our economic value. We focus on three key areas: future-proofing our business model, de-risking our operations, and accessing new forms of capital. 1. Future-Proofing Our Business by Capitalising on the Energy Transition 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 new revenue streams. • Expanding into Growth Sectors: We are applying our core competencies to emerging sectors such as Carbon Capture and Storage (“CCS”) pipelines, low-carbon infrastructure project, offshore wind farm infrastructure, and energy systems for data centres. • Leading in Bioenergy: Our Bioenergy Services Division is a key part of our growth strategy. By designing and building customised steam energy systems that run on biomass, we provide our industrial clients with renewable energy solutions that enhance their energy efficiency and reduce their carbon footprint. 2. De-risking Our Operations and Enhancing Resilience A sustainable business is a resilient business. Our focus on responsible practices throughout our value chain protects our operations, enhances our reputation, and ensures business continuity. • Responsible Procurement: Our supply chain is the backbone of our operations. We enhance its resilience by partnering with suppliers who share our values, as outlined in our Supplier Code of Conduct. Through annual assessments and targeted engagement, we manage social and ethical risks, support local businesses, and ensure the stability of our supply network. • Ethical Tax Governance: We are committed to ethical and transparent tax practices in all jurisdictions where we operate. Our approach is grounded in full compliance with all applicable laws and regulations, with oversight from the Board to ensure the prohibition of artificial tax arrangements. This responsible approach builds trust with governments and investors and mitigates financial and reputational risk. • Managing Sustainability Risk in the Supply Chain: We have launched our flagship Wasco STEP program to proactively manage risks within our value chain. This program has a dual focus: • Climate Action: We are taking the first steps to manage our Scope 3 emissions by engaging our key suppliers, building their capacity, and helping them track their own emissions. • Human Rights: We engage our partners to ensure they meet our standards on labour rights, safety, and business ethics, thereby de-risking our supply chain from a social perspective. This holistic approach makes our value chain more transparent, resilient, and better prepared for future sustainability-related regulation. SUSTAINABILITY JOURNEY
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