BAT streamlines corporate sustainability reporting with its first annual combined business and sustainability performance report*, which details sustainability actions and environmental, social and governance (ESG) goals in mandatory annual reporting. This approach anticipates future global demands on companies to increase the volume and improve the quality of the sustainability information they publish.

• BAT presents the first combined annual report on business performance and sustainabilityannouncing outstanding performance in achieving ambitious environmental, social and governance (ESG) goals
• BAT is taking the lead by being one of the first companies in the world to conduct and present the results of a dual materiality assessment
• BAT announces new and updated sustainability goals
• With 22.5 million consumers of new product categories that do not involve burning tobacco, BAT is taking an important step forward in its transformation to reduce health impacts.

This report announced new or updated goals, such as:

• reaching the level of 30% renewable energy sources two years earlier than the original target of 2025, thus revision of this threshold to 50% renewable energy sources by 2030;
• raising the initial threshold 15% reduction of waste from BAT operations by 2025 to 25%;
• expanding the scope of BAT commitments for 100% packaging reusable, recyclable or compostable and materials other than plastic
• establishing a new goal of zero conversion of natural ecosystems in the tobacco supply chain by 2025

Mike Nightingale, BAT’s director of sustainability, said:

“We are proud to further improve our sustainability reporting with our first annual combined business performance and sustainability report. Sustainability and ESG issues are increasingly reported to have a significant impact on both society and company performance. The Combined Business and Sustainability Report reflects our strong commitment to transparent reporting and the integration of sustainability and ESG aspects into the way we manage our business.

We continue to make progress in advancing our sustainability strategy and building A Better Tomorrow™. By transforming our business, we reduce the impact on health and set new goals. For example, in 2022, the number of consumers using our tobacco-free products increased to 22.5 million, and we also reduced our GHG emissions under Goals 1 and 2 by 15% compared to 2021. We know we still have a long way to go, and we look forward to achieving our ambitious goals.”

This report also includes the results of the first BAT dual materiality assessment, an impact assessment approach that helps the company identify its most important sustainability priorities and actions. This approach considers not only how business affects sustainability issues, but also how sustainability issues affect business. The results of the dual materiality assessment have already informed the formulation of the BAT strategy and will continue to do so in 2023 and beyond. These assessments help companies adjust their goals and action plans and make important improvements in sustainability.

* Combined Annual Report and ESG Report 2022

Article based on BAT