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While Worleys group underlying earnings and order workbook rose in the second half of fiscal 2021 compared with the first half, its aggregated revenues (which excludes one-off items and revenues at nil margins) were slightly lower, over the six-month period, and were down 22 per cent on a year earlier. Worley is a leading global provider of professional services in the energy, chemicals and resources sectors. While only $3.5 billion of its $14.3 billion order book was composed of sustainability projects at the end of June, Worley said almost half of likely future work will be sustainability projects. Advisian - the consulting arm of Worley. How we're supporting our customers in delivering a more sustainable world. Although analysts are also pleased to see Worley shifting towards renewable energy work including carbon capture and storage, green hydrogen and offshore wind projects, some are uncertain whether the switch will happen fast enough to compensate for the slowdown in the engineering companys more traditional oil and gas business. Were also making assets more resilient to climate change. Worleys shares have slid 7 per cent since it reported a halving in its net profit to $86 million on Wednesday and a 27 per cent drop in group revenues to $9.5 billion, which were lower than analysts expected. With Worleys shares trading in line with its long-term average of about 16 times future earnings, the market appeared to be pricing the engineering group higher compared with more traditional energy companies, which are trading lower, Mr Martin said. We depend on a range of ecosystem services to function, as do our customers. While a little cautious regarding the pace of demand growth Citi does not believe an overly optimistic view on operations is required to construct a bullish case for the stock. Australian engineering firm Worley, rated BBB (S&P), broke important new ground on Tuesday with a well oversubscribed 500m (US$611m) no-grow five-year senior unsecured sustainability-linked . Group Director, Sustainability and Energy Transition Leadership. Over the past year, the world has been responding to forces more powerful than any one geography, sector, or company, including the COVID-19 pandemic, climate change, the energy transition, and digitalization of our industries, said Chris Ashton, Worleys chief executive officer. Former Group President Sustainability at Worley. Worley has established an SPT to reduce absolute Scope 1 and 2 emissions by at least 57,177t CO2-eq. Company. "]. Feb 2012 - Jun 20153 years 5 months. Sustainability has become a password to the future for Worley ((WOR)) which intends to take advantage of work encompassed in contracts involving decarbonisation, resource oversight, asset maintenance and environmental consulting. (Image taken by Albert Lam as part of our Earth Day photo competition). Todays energy transition is unstoppable. The Customer Solutions group is an external facing group of Worley whose mission is to make energy affordable and accessible to everyone. This story features WORLEY LIMITED. The Sustainability Performance Target Minimum Score Condition will be met if Edenred reaches at least 2 out of 3 of the above mentioned KPIs. Were increasing our focus on the decarbonization of the Energy, Chemicals and Resources sectors. The broker notes more than 35 new offshore wind projects were awarded to Worley over the past 14 months and the sales pipeline is more than 10x the sales achieved in FY20. 16% of WorleyParsons employees are Asian. Aug 24, 2022. We partner with our customers to address . Worley's Profile, Revenue and Employees. Make sustainability criteria and UN Global Compact principles part of goals and incentive schemes for CEO and executive management team. This year, more than 10,000 publicly traded companies were invited to participate in the S&P Global CSA. We put sustainability at the heart of everything we do. We need to change processes, develop new technologies and create entirely new value chains. Low Carbon Analyst (Remote) Advisian, (Worley Group) Advisian is the independent consultingSee this and similar jobs on LinkedIn. The company also won 40 projects over the same period for hydrogen and envisages a US$200bn addressable market by 2040. Were delivering on our own sustainability commitments and improving our ESG performance, while supporting our customers as they tackle the complex challenges required to meet the demands of the global energy transition, she said. The 19th century saw the discovery of oil and gas. Worley's Executive Group Director Sustainability Sue Brown. . we value . We put sustainability at the heart of everything we do We work with business to develop the right strategy, log in to a digital future, secure and safeguard social license, enhance local . About the S&P Global Corporate Sustainability Assessment (CSA): The DJSI World applies a transparent, rules-based constituent selection process based on the companies S&P Global ESG Score resulting from the annual S&P Global Corporate Sustainability Assessment (CSA). impacts on the state of the environment. Advisian (part of the Worley Group) offers an excellent remuneration & benefits package, a friendly, professional, dynamic and flexible work environment along with the opportunity to develop your career prospects within Canada and overseas. As the world seeks to urgently reduce greenhouse gas emissions to net zero, our role is clear. Worley is not considering major acquisitions but will focus on selective areas where it can add skill to its base. Were your partners in delivering the worlds most complex projects. . Worley estimates expenditure for legacy power plants will be $70bn per annum with $5bn of this addressable until 2026. Our commitment to People, Planet and Sustainability is demonstrated in Worley's broader ambitions in the energy transition space extend from early-stage concept and feasibility through to delivering full EPC and EPCM packages. Mr Ashton has promised to give shareholders more detail on Worleys targets for making money from sustainability projects at an investor day in December. In FY2021, we committed to reach net-zero Scope 3 emissions by 2050. . Only then can the journey to reduce the carbon intensity of industrial processes happen without impacting productivity or financial performance. Follow Worley onFacebook, Twitter, LinkedIn and YouTube. While only $3.5 billion of its $14.3 billion order book was composed of sustainability projects at the end of June, Worley said almost half of likely future work will be sustainability projects . Our commitment to People, Planet and Sustainability is demonstrated in Worley's broader ambitions in the energy transition space extend from early-stage concept and feasibility through to delivering full EPC and EPCM packages. I love my job. "Worley's inclusion on the DJSI is a recognition of the hard work and focus of our people on delivering a more sustainable world with our customers, partners, and communities globally," said Sue Brown, Executive Group Director Sustainability at Worley. But this isnt our first energy transition. This year, our Scope 1 and Scope 2 emissions are 48,211 tCO 2 e, 29 percent lower than FY2021 levels. 21% of WorleyParsons employees are Hispanic or Latino. But were not doing it alone. Worley is a leading global provider of professional services in the energy, chemicals and resources sectors. Im excited about the rate of change were seeing in the sustainability space, I think weve got a strong pivot towards that in the future, Chris Ashton, who has remained in the US during the COVID-19 outbreak, told The Australian Financial Review after Worley delivered a 50 per cent drop in annual net profit last week. Sustainability Delivering a more sustainable world From contributing to our communities across the globe to delivering customer projects that make a positive impact. Receive Environment + Energy Leader's top news stories two times each week. Inclusion of reference to the principles contained in the relevant international labour standards in contracts with suppliers and other relevant business partners, Specific commitments and Human Resources policies, in line with national development priorities or decent work priorities in the country of operation, Reflection on the relevance of the labour principles for the company. Learn more about the Summit here, or go straight to registration! audits/screenings) for compliance within the companys sphere of influence, Undertake awareness-raising, training and other types of capacity building with suppliers and other business partners, Any relevant policies, procedures, and activities that the company plans to undertake by its next COP to fulfill this criterion, including goals, timelines, metrics, and responsible staff, Analyze each segment of the value chain carefully, both upstream and downstream, when mapping risks, opportunities and impacts, Place responsibility for execution of sustainability strategy in relevant corporate functions (procurement, government affairs, human resources, legal, etc) ensuring that no function is conflicting with company sustainability commitments and objectives, Align strategies, goals and incentive structures of all business units and subsidiaries with corporate sustainability strategy, Assign responsibility for corporate sustainability implementation to an individual or group within each business unit and subsidiary, Design corporate sustainability strategy to leverage synergies between and among issue areas and to deal adequately with trade-offs, Ensure that different corporate functions coordinate closely to maximize performance and avoid unintended negative impacts, Leadership review of monitoring and improvement results, Grievance mechanisms that are legitimate, accessible, predictable, equitable, transparent, rights-compatible, a source of continuous learning, and based on engagement and dialogue (BRE4 + ARE4), System to monitor the effectiveness of human rights policies and implementation with quantitative and qualitative metrics, including in the supply chain (BRE3 + ARE3), Monitoring draws from internal and external feedback, including affected stakeholders, Process to deal with incidents the company has caused or contributed to for internal and external stakeholders (BRE 4 + ARE 4), Outcomes of integration of the human rights principles, Process to ensure that internationally recognized human rights are respected, Internal awareness-raising and training on human rights for management and employees, Allocation of responsibilities and accountability for addressing human rights impacts, Internal decision-making, budget and oversight for effective responses to human rights impacts, Process and programs in place to support human rights through: core business; strategic philanthropic/social investment; public policy engagement/advocacy; partnerships and/or other forms of collective action (BRE 6 + ARE 6), On-going due diligence process that includes an assessment of actual and potential human rights impacts (BRE 2 + BRE 3 + ARE 2 + ARE 3), Operational-level grievance mechanisms for those potentially impacted by the companys activities (BRE 4 + ARE 4), Processes to provide for or cooperate in the remediation of adverse human rights impacts that the company has caused or contributed to (BRE 3+ BRE 4 + ARE3 + ARE 4), Commitment to comply with all applicable laws and respect internationally recognized human rights, wherever the company operates (e.g., the Universal Declaration of Human Rights, Guiding Principles on Human Rights) (BRE1 + ARE1), Integrated or stand-alone statement of policy expressing commitment to respect and support human rights approved at the most senior level of the company (BRE 1 + BRE5 + ARE 1 + ARE 5), Statement of policy stipulating human rights expectations of personnel, business partners and other parties directly linked to operations, products or services (BRE 1), Statement of policy publicly available and communicated internally and externally to all personnel, business partners and other relevant parties (BRE 1 + BRE 5 + ARE 1 + ARE 5), Outcomes of integration of the Labour principles, System to track and measure performance based on standardized performance metrics, Dialogues with the representative organization of workers to regularly review progress made and jointly identify priorities for the future, Audits or other steps to monitor and improve the working conditions of companies in the supply chain, in line with principles of international labour standards, Process to positively engage with the suppliers to address the challenges (i.e., partnership approach instead of corrective approach) through schemes to improve workplace practices, Reference to principles of relevant international labour standards (ILO Conventions) and other normative international instruments in company policies. 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