2. Executive Summary
In recent years, the world’s collective understanding of climate change, how it will impact all parts of society and what must be done to respond to current and future threats has developed enormously.
COP26 brought together 120 world leaders and resulted in new global climate agreements; the Intergovernmental Panel on Climate Change (IPCC) published updates from Working Groups I's and II's contributions to the Sixth Assessment Report, furthering our understanding of the likely physical impacts and vulnerabilities of climate change; the Science Based Targets initiative developed the first corporate Net-Zero Standard; and climate risk disclosures have started to become a mandatory business requirement in some countries.
Jacobs has also made significant progress, meeting our initial climate action goals, achieving carbon neutrality and adopting 100% low-carbon electricity – while setting science based targets in the process. We introduced carbon pricing on corporate business travel, undertook a global climate risk disclosure analysis, improved our corporate ESG ratings and engaged extensively in business events at COP26.
Building on these achievements and coupled with our new company strategy that elevates Climate Response as one of three accelerators fundamental to business growth over the FY 2022-2024 strategy period, we have set new, ambitious climate commitments:
1. Ensure every project becomes a climate response opportunity
2. Achieve Net-Zero greenhouse gas emissions across the value chain by 2040
3. Maintain carbon neutrality status and 100% low-carbon electricity for our operations
We will meet these commitments and will continually enhance our approach to climate mitigation and adaptation in a way that is fair, just and equitable for all.
Jacobs climate response solutions: ENERGY TRANSITION
SuedLink
With a target to generate 65% of its power from renewable sources by 2030 and 80% by 2050, Germany’s power grid needs to be significantly updated to accommodate this energy transition. Jacobs is providing program management services for the longest underground power cable project in the world, integrating renewable sources such as wind and solar power into the country’s electricity grid, while also linking with interconnectors to provide cross-border energy resilience.
ITER
By recreating the nuclear reaction inside the sun and stars, the world’s largest fusion experiment in Provence, France, is pointing the way to a new source of almost limitless low-carbon energy. Jacobs is designing and manufacturing key components for the ITER machine and leads the European Remote Handling Alliance. We’re also providing construction management services and designing systems related to the fuel cycle, waste management and plant simulators.
– Image courtesy of ITER