AECOM (ACM) — ESG & Values Scores

Environment story

AECOM demonstrates mixed environmental performance. The company discloses no Scope 1, 2, or 3 emissions metrics, renewable energy percentage, or net-zero target year in the 10-K filing, triggering automatic deductions. While the company operates in environmental consulting, remediation, and water infrastructure—sectors aligned with climate adaptation—it provides no verified decarbonization initiatives, carbon accounting, or emissions-reduction commitments. The firm's exposure to nuclear decommissioning and hazardous-waste management indicates environmental liability risk. Without emissions disclosure or net-zero commitments, environmental credibility is severely compromised. The lack of transparency on Scope 3 supply-chain emissions (a material concern for a global consulting firm with 27% international revenue) and absence of renewable-energy targets suggest greenwashing risk.

Criticisms on file

No disclosed Scope 1, 2, or 3 emissions; no renewable-energy targets; no net-zero commitment year.
Source: ACM 10-K FY2025, Item 7 (MD&A) and Item 1A (Risk Factors)—environmental disclosures absent.
Building Safety Act (UK) exposure: new regulatory framework increases liability, design/construction risk reallocation, and compliance costs for UK and global operations.
Source: ACM 10-K FY2025, Risk Factors—'Risks Related to International Operations.'
Environmental liability exposure: AECOM manages toxic/hazardous substances (CERCLA, RCRA, CAA, OSHA compliance); potential for joint/several strict liability on cleanup without regard to fault.
Source: ACM 10-K FY2025, Risk Factors—'Risks Related to Laws and Regulations: We may be subject to substantial liabilities under environmental laws and regulations.'

Disclosed initiatives

Nuclear Decommissioning & Remediation Services

AECOM provides services for decontamination and decommissioning of nuclear energy plants and manages work at Superfund/hazardous-waste sites per 10-K Risk Factors.

Positions firm in environmental remediation; however, no quantified carbon or emission-reduction impact disclosed.
Water, Transportation & Environmental End Markets

MD&A notes growth in Water, Environment, and Transportation end markets benefiting from infrastructure investment (Infrastructure Investment and Jobs Act, drought/flooding remediation, water-storage projects).

Revenue growth from climate-adaptation infrastructure; no direct operational decarbonization metrics provided.

Social story

AECOM's social performance is below-average but not critically weak. The company reports no CEO-to-worker pay ratio, diversity percentages, or union-standing disclosures in the 10-K, preventing full assessment. The 10-K notes reliance on 'qualified technical and management personnel' and mentions collective bargaining agreements with unions requiring multiemployer pension contributions ($2.7M in FY2025), suggesting unionized workforce segments. However, no evidence of active union-suppression, major strikes in the last 24 months, or documented labor disputes is provided. Supply-chain ethics disclosures are absent—no mention of conflict minerals, forced labor, or human-rights audits. Turnover, plant safety, and diversity in technical/executive leadership are not quantified. The company's global footprint (27% international revenue) and mention of 'high-risk locations' (Middle East, Africa, Southeast Asia) suggest potential supply-chain and employee-safety vulnerabilities that are not mitigated by disclosed programs.

Criticisms on file

No disclosure of CEO-to-median-worker pay ratio, workforce diversity metrics, or leadership diversity percentages in 10-K filing.
Source: ACM 10-K FY2025, Item 7 (MD&A)—compensation and diversity data absent.
Operations in high-risk locations (Middle East, Africa, Southeast Asia) for project work; employee safety and security costs incurred but no quantified safety incidents, injuries, or occupational-health programs disclosed.
Source: ACM 10-K FY2025, Risk Factors—'Risks Related to International Operations: We work in international locations where there are high security risks.'
Supply-chain ethics: No disclosed conflict minerals policy, forced-labor audit, or human-rights statement despite global operations and reliance on subcontractors/vendors.
Source: ACM 10-K FY2025—no supply-chain ethics or modern slavery statement disclosures found.
Professional liability and misconduct risk: 10-K notes potential for employee, subcontractor, and consultant misconduct (fraud, non-compliance); reliance on insurance and internal controls.
Source: ACM 10-K FY2025, Risk Factors—'Risks Related to Contracts and Joint Ventures: Misconduct by our employees, subcontractors, partners or consultants.'

Disclosed initiatives

Multiemployer Pension Plan Contributions

AECOM contributes to union-negotiated multiemployer pension plans; $2.7M contributed in FY2025.

Supports union relationships and worker retirement security.
Personnel Retention & Recruitment

10-K Risk Factors identify retention of 'qualified technical and management personnel' as critical; company acknowledges strong competition for skilled labor.

No quantified programs disclosed; competitive pressure acknowledged but mitigation strategies not specified.

Governance story

AECOM exhibits mixed governance. The company operates under a single-class share structure (no dual-class voting penalty). However, the 10-K provides no explicit disclosure of board independence percentage or composition, preventing quantified assessment against the 75%+ threshold. The company reports ~$50M annual government revenue (~50% of total revenue per MD&A) and operates extensively in federal contracting, which subjects it to audit, compliance, and misconduct risk. Lobbying expenditures are not disclosed in the 10-K. The 10-K discloses no active antitrust proceedings, but mentions exposure to qui tam litigation and government audit risk inherent in federal contracting. The company faces regulatory risks from international operations (UK Building Safety Act, FCPA compliance, export controls, anti-corruption laws), cybersecurity incidents, and professional liability claims. Goodwill impairment risk is material ($3.7B as of Sept 30, 2025), and management has flexibility on dividend policy. Overall, governance transparency on board independence and lobbying is weak, limiting full assessment.

Criticisms on file

Board independence percentage not disclosed; unable to verify compliance with 75%+ independence guideline.
Source: ACM 10-K FY2025—board composition and independence disclosures absent from Item 7 (MD&A) and Risk Factors.
Lobbying expenditures not disclosed in 10-K; unable to assess whether firm engages in climate-deregulation or consumer-protection rollback advocacy.
Source: ACM 10-K FY2025—no lobbying spend data provided.
Material goodwill impairment risk: $3.7B goodwill on balance sheet as of Sept 30, 2025; company subject to annual impairment testing and potential for significant non-cash charges if business performance declines.
Source: ACM 10-K FY2025, Risk Factors—'An impairment charge of goodwill could have a material adverse impact on our financial condition and results of operations.'
Uncertain tax positions: $47M reserve established FY2025 for federal and state tax credits under IRS examination; ongoing tax audit risk (FY2017–2020 federal returns under review).
Source: ACM 10-K FY2025, MD&A—'Income Tax Expense' section.
Federal contractor exposure: ~50% of revenue from government contracts; subject to audit, compliance, debarment, and qui tam litigation risk. Government may terminate or modify contracts at discretion.
Source: ACM 10-K FY2025, Risk Factors—'Risks Related to Our Markets, Customers and Business: We depend on long-term government contracts.'
International regulatory exposure: UK Building Safety Act creates new liability regimes, design/construction risk reallocation, and compliance complexity for global operations.
Source: ACM 10-K FY2025, Risk Factors—'Risks Related to International Operations.'

Disclosed initiatives

Compliance Programs & Internal Controls

10-K discloses FCPA and anti-corruption compliance programs, internal audit, cybersecurity governance, and professional liability insurance.

Risk mitigation framework in place; however, no independent audit committee composition or effectiveness metrics disclosed.
Charter & Bylaw Provisions

Certificate of incorporation includes Board authority to authorize preferred stock, determine board size, and require advance notice for shareholder proposals.

Standard anti-takeover provisions; no material governance deviation.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of AECOM. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open AECOM in the app for interactive charts and portfolio building.

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