Our operating performance | Environment and climate solutions Market context In both the public and private sectors there is growing recognition of the need for organisations to both mitigate their impact on climate change and increase resilience to it. Ever-tightening regulation is one driver, as are government investment and incentives, such as the US’s Inflation Reduction Act and Canada’s National Adaptation Strategy. These incentives create the environment for businesses, municipalities, and other types of organisations to invest in evaluating, quantifying and ultimately managing these types of risks and opportunities. We offer a unique perspective as an advisor for these challenges, providing expertise on the management of mandatory and voluntary actions. Due to the focus on climate change and increased climate impacts, market conditions were buoyant within the reporting period, particularly in Asia Pacific. As companies and governments increasingly focused their attention on the energy transition sector, the demand for services related to offshore wind, alternative fuels and pumped hydropower projects increased, creating positive market conditions for us. Greater activity in marine environment projects for port expansions and offshore wind farms also boosted demand for our environmental assessment services, particularly in Asia Pacific. There is an increased societal expectation on businesses, industry and government to take responsibility for restoring and protecting the environment. We provide the expertise and assurance that they need to measure, monitor and manage environmental risks. Although most companies have completed their carbon baseline and have plans to improve environmental performance, reaching net zero requires solutions to wider systemic issues, such as future fuels and electrification. These are typically multi-stakeholder challenges that require a Systems of Systems approach, which represents an opportunity for us. Performance Vibrant market conditions encouraged the environmental and sustainability consulting sector’s top-tier companies to expand and consolidate their position, potentially squeezing out smaller operators like us. We responded by improving our relationships with top-tier players, and the success of this approach was evidenced in our performance during the reporting year, enabling us to access opportunities on larger infrastructure and environmental assessment projects. We leveraged our proprietary TUFLOW modelling software, as well as our industry connections and reputation, to win work in the aquaculture and government sectors in North America. The success of these initial projects enabled us to further build our environmental and climate capability in the region. A new partnership was formed with French software business Dassault Systemes to integrate our TUFLOW modelling software and flood consulting capability into their virtual twin platform. Our joint solution leverages advanced technology to predict and mitigate flood risks. We continued to cross-sell our sustainability consulting expertise to existing customers, using a mix of technical and non-technical personnel to differentiate us from other providers. Budgetary constraints for public and private organisations, both during and prior to the reporting year, reduced investment in voluntary climate and environmental initiatives, but despite these headwinds we still managed to grow our offering and maintain our key skills and competencies. The reporting period was notable for the number of new environment-related projects won, largely driven by our technical specialisations in niche marine science and engineering projects. In Asia Pacific alone, 350 environment-related projects are underway, from flood assessments to Environmental Impact Statements. Strategy and organisation To best manage the continuing growth of our environment and climate solutions work, we made changes to our organisational structure and added key employee hires. A Global Business Development lead was hired to support all regions. Carefully orchestrated work by our Future Business teams, supported by global and regional campaigns, delivered positive results, including winning the marine environment components of environmental assessment projects for several major, multi-year offshore wind projects. We continued to develop our close relationship with academia, with key employees completing high-level qualifications in engineering and, in one case, serving as a member of a university advisory committee alongside their role at BMT. In the UK, we significantly strengthened our environmental team through key hires and benefited from our global mobility programme, which enabled two Australian colleagues to share best practice and integrate global capabilities. New hires of mid-to-senior level consultants enabled us to develop our capabilities and services, which include integrated water (including groundwater), asset monitoring in onshore wind, structural assessments for offshore aquaculture and offshore construction logistics. Our strength, as well as our reputation in environment climate solutions, was evidenced in our ability to attract high-quality candidates with excellent industry, research and on-site experience. Highlights Satellites of the sea We are revolutionising maritime data collection and management in a groundbreaking new project with technology company Ocius. The partnership will create a global fleet of 1,000 autonomous vessels within the next 10 years, which will act as a networked system of remote sensors gathering vital maritime data. The Bluebottle vessels, equipped with renewable energy-powered propulsion systems, are designed for long-term, sustainable operations without physical intervention. Initially targeting environmental monitoring for offshore wind development projects, this collaboration will provide critical data on sea life, water quality, and other environmental parameters. Furthermore, the Bluebottle vessels will significantly reduce the need for crewed data collection, offering a clean, cost-effective solution to support maritime operations. (right) “It marks a new era in maritime data collection and management that offers unparalleled capabilities to a range of customers worldwide, both government and commercial.” Graeme Nayler, Regional Business Director - APAC, BMT “This teaming agreement with BMT represents a leap forward in our mission to provide autonomous solutions for maritime challenges. Bluebottles, equipped with advanced sensors provided and operated by BMT, will help scientists, sailors and CEOs safeguard our oceans, monitor assets, and make informed decisions.” Robert Dane, CEO of Ocius 23 BMT Group Ltd | Review of performance 23-24 22
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