Brookfield Business Corporation 2024 Sustainability Report
Learn more about some of the measures we are taking and the positive impact we have made. This report outlines some of the current and future initiatives we are committed to addressing as part of our overall sustainability strategy.
Sustainability at Brookfield
At Brookfield, sound sustainability practices are integral to building resilient businesses and creating long-term value for our investors and other stakeholders.
Our Guiding Sustainability Principles
- Strive to minimize the environmental impact of our operations and improve our efficient use of resources over time.
- Support the ambition of net zero greenhouse gas (GHG) emissions by 2050 or sooner.
- Foster a positive work environment based on respect for human rights, valuing diversity, and zero tolerance for workplace discrimination, violence or harassment.
- Operate with leading health and safety practices to support the goal of zero serious safety incidents.
- Operate to the highest ethical standards by conducting business activities in accordance with our Code of Business Conduct and Ethics.
- Maintain strong stakeholder relationships through transparency and active engagement.
- Strive to ensure the interests, safety and well-being of the communities in which we operate are integrated into our business decisions.
- Support philanthropy and volunteerism by our employees.
Sustainability Affiliations and Partnerships
Through our engagement with sustainability frameworks and organizations, we continue to evolve our sustainability reporting and protocols to align with leading practices. The following represents a sample, though not an exhaustive list, of some of the frameworks and organizations with which we are affiliated:
Principles for Responsible Investment
Signatory to the United Nations-supported Principles for Responsible Investment (PRI), underscoring our ongoing commitment to responsible investment and sustainability best practices.
IFRS Sustainability Alliance
Alliance member of the IFRS Sustainability Alliance, a global membership program established to develop globally accepted accounting and sustainability disclosures, and whose industry-specific standards are designed to be evidence-based and market-informed, to further formalize the integration of sustainability considerations into our due diligence process.
Task Force on Climate-related Financial Disclosures
Supporters of the Task Force on Climate-related Financial Disclosures (TCFD), which aims to guide companies in incorporating the considerations of the effects of climate change into business and financial decisions to help facilitate the transition to a more sustainable, lower carbon economy.
Integrating Sustainability Considerations Into Our Investment Process
Sustainability is embedded throughout our investment process, starting with the initial due diligence through to the exit of the investment. Below is a summary of how we integrate sustainability factors.
- We tailor sustainability due diligence to each investment and follow a structured approach, leveraging relevant industry frameworks.
- Proactively identify material sustainability risks and opportunities relevant to the potential investment
- Leverage our investment and operating expertise and utilize industry-specific guidelines that incorporate SASB guidance
- Perform deeper due diligence if required, utilizing internal experts and third-party consultants as needed
- All potential investments must incorporate sustainability matters into their evaluation and be approved by the Investment Committee.
- Investment teams provide the Committee with a detailed memorandum
- The Investment Committee memorandum outlines the merits of the transaction and material risks, mitigants and significant opportunities for improvement, including those related to sustainability
- Material sustainability factors may include bribery and corruption risks, health and safety risks and environmental and social risks
- Upon company acquisition, we create a tailored integration plan and ensure sustainability risks and opportunities are actively managed.
- As part of each acquisition, investment teams create tailored integration plans that include material sustainability-related matters for review or execution
- Brookfield actively looks to advance sustainability initiatives and improve sustainability performance to drive long-term value creation, as well as to manage any associated risks
- It is the responsibility of the management teams within each portfolio company to manage sustainability risks and opportunities through the investment’s life cycle, supported by the investment team responsible for the investment
- As part of our divestiture plan, we prepare robust business plans outlining potential value creation from several different factors, including sustainability considerations
- We also prepare both qualitative and quantitative data that summarize the sustainability performance of the investment and provide a holistic understanding of how Brookfield has managed the investment during the holding period
Policies
Additional governance documents can be viewed within the Corporate Governance section of the site.