REG-SThree SThree: SBTi-verified net-zero target and 2022 Impact Report

SThreeAnnouncement

12/04/2023 07:15

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   SThree (STEM)
   SThree: SBTi-verified net-zero target and 2022 Impact Report

   12-Apr-2023 / 07:00 GMT/BST

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   12 April 2023

                                        

                                   SThree plc

                                        

              SBTi-verified net-zero target and 2022 Impact Report

                                        

                  SThree to reach net zero no later than 2050

                                        

   SThree plc ("SThree" or  the "Group"), the  only global specialist  talent
   partner  focused  on  roles   in  Science,  Technology,  Engineering   and
   Mathematics  (“STEM”),  announces   today  its  ambitious   SBTi1-verified
   net-zero target and transition plan, together with the publication of  its
   annual review of the impact of the Group’s ESG strategy.

    

    

   Influencing the industry and committing to science-based net-zero

    

   For  more  than  a  decade,  SThree   has  taken  action  to  reduce   its
   environmental impact and has made considerable progress since setting  its
   first climate science aligned target, reducing its carbon emissions by 44%
   since 2019.

    

   In 2022, SThree strengthened  its ambitions and  completed the process  to
   set net-zero targets verified by SBTi. These targets cover greenhouse  gas
   (GHG) emissions  from SThree’s  own operations  (scope 1  & 2)  and  value
   chains (scope 3).  As a result of the SBTi targets, SThree is now a member
   of the Business Ambition for 1.5°C.

    

   Long-term net zero target:

     • SThree commits to reaching net-zero GHG emissions across the value
       chain by 2050.   This long-term commitment aligns to the SBTi net zero
       standard to reduce absolute scope 1, 2, and 3 GHG emissions by 90% by
       2050 from a 2019 base year.

    

   Near-term targets:

     • SThree commits to reducing absolute scope 1 and 2 GHG emissions by 77%
       by 2030 from a 2019 base year;
     • SThree commits to reducing absolute scope 3 GHG emissions by 50% by
       2030 from a 2019 base year; and
     • SThree commits to increasing annual sourcing of electricity to 100%
       from renewables by 2030 from 28% in 2019.

    

   The Group’s approach to net-zero involves planned, targeted action that is
   led by data  and encompasses behaviour  change, operational adaptions  and
   influencing its end-to-end value chain. SThree acknowledges that  reducing
   its full value chain emissions will  take time due to the high  proportion
   of emissions being generated  via the supply chain.  As a result, scope  3
   emissions will be reduced more gradually, being halved by 2030 before  the
   Group continues its path to net-zero in the longer term, understanding the
   urgency to  take  action  and  therefore being  more  ambitious  with  the
   emissions it has more control over (scope 1 and scope 2).

    

    

   2022 Impact Report

   SThree has  today  published its  2022  Impact Report  which  includes  an
   overview of the Group's  ESG activities and progress  in 2022, as well  as
   its commitment for the future.

    

   The success of  the Group’s commitments  is measured against  a number  of
   targets. These targets include:

    

     • Positively impacting a total of 150,000 lives by 2024 (2019 baseline);
     • Doubling the share of its global renewables business by 2024 (2019
       baseline);
     • Reducing absolute carbon emissions by 25% by 2024 (2019 baseline) –
       strengthened by the net-zero target announced today; and
     • Aspiring to increase gender representation at leadership levels to
       50/50 .

    

   The 2022 Impact Report highlights progress against these targets in 2022,
   including:

    

     • A total of 88,741 lives positively impacted by SThree since 1 December
       2019;
     • Net fees from the global renewables business grew 29% YoY in 2022,
       contributing to an 88% increase since 2019 (baseline year);
     • Absolute carbon emissions were reduced by 44% in 2022 on 2019 levels,
       despite a return to more normalised levels of travel since pandemic
       restrictions were lifted;
     • Stabilising carbon emissions within a more flexible working
       environment remains the focus; and
     • Representation of women in leadership positions at 32%.

    

   Detail of SThree’s roadmap toward net-zero and more information about  the
   Group’s   2022   Impact   Report   are   available  1 on   our    website:
    2 sthree-impact-report-2022.pdf

    

   Timo Lehne, CEO, commented:

    

   “I am incredibly proud to see SThree continuing to take a leading role  in
   sustainability with  the new  commitments announced  today, which  set  to
   further ensure the protection of our climate. To be able to say we are now
   pursuing an  approved net-zero  target aligned  to 1.5°C  underscores  the
   commitments and investments we have made as part of our ESG strategy.

    

   “Our aim  is  to be  as  transparent and  ambitious  as possible  for  our
   stakeholders, and this  is reflected in  the fact that  we are  announcing
   targets which  are fully  verified  by the  SBTi,  alongside a  clear  and
   comprehensive transition  plan. We  are  now set  on  a path  to  reaching
   net-zero and we look forward to providing updates on our progress.”

    

    

   Gemma Branney, Global Director of Purpose and Inclusion, commented:

    

   “SThree plays  a crucial  role  in providing  the  STEM skills  that  will
   invent, innovate and  adapt to  tackle climate change.  Our commitment  to
   net-zero mirrors our commitment to finding and nurturing the talent needed
   to build a sustainable future for everyone.”

    

   1The Science Based Targets initiative (SBTi) is a partnership between CDP,
   the United Nations Global Compact, World Resources Institute (WRI) and the
   World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition
   commitments.  The  SBTi drives  ambitious climate  action in  the  private
   sector by enabling organisations to set science-based emissions  reduction
   targets.

    

                                    - Ends -

   Enquiries:

                                         

    
   SThree plc          
   Timo Lehne, CEO

   Andrew Beach, CFO
                       via Alma
    

    
                      +44 20 3405 0205
   Alma PR
                       
   Hilary Buchanan

   Sam Modlin
                      SThree@almapr.co.uk
   Will Ellis Hancock

    

    

    

   Notes to editors

    

   SThree plc brings skilled people together to build the future. We are  the
   only global  specialist  talent  partner  focused  on  roles  in  Science,
   Technology, Engineering and Mathematics (‘STEM’), providing permanent  and
   flexible contract talent to a diverse base of over 8,200 clients across 14
   countries. Our Group’s c.3,000 staff  cover the Technology, Life  Sciences
   and Engineering sectors. SThree is part of the Industrial Services sector.
   We are listed on the Premium  Segment of the London Stock Exchange’s  Main
   Market, trading with ticker code STEM.

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   ISIN:          GB00B0KM9T71
   Category Code: MSCL
   TIDM:          STEM
   LEI Code:      2138003NEBX5VRP3EX50
   Sequence No.:  236097
   EQS News ID:   1605165


    
   End of Announcement EQS News Service

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