FirstGroup has been ranked in the top 6 per cent of more than 300 companies included in the ‘Transportation and Transportation Infrastructure’ sector of this year’s S&P Sustainability Yearbook, appearing in the rankings for the second year running. FirstGroup achieved an overall score of 62 out of 100, outperforming the industry average of 32.
S&P considered more than 9,300 companies, across 61 industries in its annual Corporate Sustainability Assessment. To be listed within the Yearbook, companies must score within the top 15 per cent of their industry group and must achieve an S&P Global Sustainability Score within 30 per cent of their industry’s top-performing company. FirstGroup was one of only 733 companies who made it into the 2024 Yearbook and is the only UK bus and rail operator to be included.
FirstGroup scored strongly across each of S&P’s Environmental, Social and Corporate Governance (ESG) criteria, most notably in Emissions and Climate Strategy.
FirstGroup scored highly in the Emissions category, thanks to the strong progress made against its targets to reduce Scope 1 and Scope 2 greenhouse gas emissions, in both its bus and rail businesses. This includes the ongoing decarbonisation of its bus fleet and infrastructure as part of its ambitious 2035 decarbonisation target, as well as a £350m investment in new, low-carbon, electric and bi-mode Avanti trains.
In terms of Climate Strategy, climate change is reported as one of FirstGroup’s principal risks and has been built in as a fundamental element of its variable remuneration practices. Climate is a core consideration in the business’s strategy and financing, seen in the recent announcement of a strategic partnership with Hitachi to purchase 1,000 electric bus batteries, and the agreement of a new Green Hire Purchase facility to support the purchase of electric bus bodies.
Graham Sutherland, FirstGroup Chief Executive Officer, said: “FirstGroup is committed to achieving the very highest sustainability standards that are set out in leading benchmarks such as the S&P Global Corporate Sustainability Assessment. As a leading private sector provider of public transport, we are playing a key role in creating a cleaner, greener and more sustainable future and we’re pleased that our activities and plans are recognised in this year’s S&P Yearbook for the second year running.”
Photo credit: FirstGroup
