24

ACHIEVING ENVIRONMENTAL EXCELLENCE

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DECARBONISING OUR OPERATIONS

Climate change

presents a material

risk to our entire

value chain . Rising

temperatures , along

with the increased

frequency and severity

of f loods and drought ,

threaten crop yields

and quality .

Water scarcity and

variability also pose

risks to our malting

operations , where

stable water supply

is essential for

processing . Beyond

our own sites , reduced

water availability

affects our customers

for whom water is a

critical input .

Climate targets

backed by science

A key milestone on our

decarbonisation journey was

achieved this year , when our

climate targets were off icially

validated by the Science Based

Targets initiative ( SBTi ) .

The SBTi , one of the world ’ s

most trusted authorities for

assessing corporate climate

action , helps companies

set greenhouse gas ( GHG )

emissions reduction targets

that are aligned with the latest

climate science and the Paris

Agreement ' s goal of limiting

global warming to 1 . 5 ° C .

The SBTi validated our targets

at its highest level of ambition ,

which gives stakeholders

conf idence that we are

positioned to grow sustainably ,

manage future climate risks

and create long - term value .

Decarbonising our business is both an environmental

responsibility and a strategic imperative . Furthermore ,

managing and reducing energy - and carbon - related costs

is critical to protecting long - term resilience , particularly in

the context of volatile energy markets and rising carbon

pricing .

A clear , credible low - carbon pathway supports

compliance with evolving climate - related regulation

and strengthens trust with customers , partners and

communities who increasingly expect tangible climate

action across the value chain .

OUR APPROACH

We have a clear strategy to reduce energy - related

emissions and improve operational eff iciency . This

involves shrinking our direct footprint , increasing our

use of renewable energy systems and making sure that

emissions that cannot yet be eliminated are managed

responsibly . We also continue to invest in technologies

that support long - term emissions reductions .

Our approach combines :

• Improvements

in energy eff iciency at malthouses .

• Ongoing optimisation

of industrial processes .

• Growing the share of green

and low - carbon energies in our operational energy mix .

• Strategic procurement

of renewable electricity through on - site generation

or certif ied external supply .

As we continue our journey as the

the world ’ s leading maltster , in both

scale and sustainability , this SBTi

milestone marks a signif icant step

forward in our ambition to build a

more resilient , low - carbon future for

the malting industry .

Sophie Godier

CHIEF SUSTAINABILITY OFFICER

Sustainability Report 2025 Malting a world of difference