Viridor manages a substantial proportion of UK’s waste. Through a fleet of 11 energy from waste (EfW) facilities and three plastics recycling and reprocessing plants, we process over 3 million tonnes of waste and recycling a year.
As a standalone business, we have had the opportunity to reassess our focus on ESG (Environmental, Social and Governance), to ensure that Viridor is well placed to excel as a business and deliver on the most pressing concerns facing society, our customers and our investors. KKR’s acquisition (summer 2020), which was partially realised through the KKR Global Impact Fund, cements Viridor’s commitment to sustainable infrastructure growth.
Any ESG strategy is fundamentally a risks and opportunity management plan. It is about understanding the most significant risks and opportunities in the ESG space and what needs to be done to mitigate or seize them. To determine where we should focus on delivering sector leading Environmental, Social and Governance, the most important question was what were our areas of material risk?
Material risks are those that have high impact and high probability. Our approach to setting an ESG strategy was a materiality assessment. Asking ourselves the question ‘what is it about our operations that have greatest risk in relation to the global megatrends?’
That assessment quickly revealed three key areas of risk and opportunity – health and safety, climate change and the circular economy.