RCS - Senior PLC - Senior achieves SBTi net-zero target designation

SeniorAnnouncement

13/10/2023 07:00

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RNS Number : 9877P  Senior PLC  13 October 2023

Senior plc achieves most ambitious net-zero target designation available
through the SBTi process

Senior plc ("Senior" or "the Group"), an international manufacturer of high
technology components and systems, today announces that its ambitious Net Zero
science-based emission reduction targets have been validated by the Science
Based Targets initiative ("SBTi").  The validation highlights Senior's status
as the first company in the global Aerospace & Defence sector to have its
2025 emissions reduction targets independently verified and approved by SBTi.

Senior's verified SBTi targets, using 2018 as a base year are:

 •    Commitment to reach net-zero greenhouse gas emissions across the value chain
      by 2040.
 •    Near-term, commitment to reduce absolute scope 1 and 2 greenhouse gas
      emissions 30% by 2025, and that 82% of suppliers by spend covering purchased
      goods and services and capital goods will have science-based targets by 2025.
      (2018 base year).
 •    Commitment to reduce absolute scope 1,2 and 3 greenhouse gas emissions 90% by
      2040 from the same base year. (2018 base year).

SBTi's Target Validation Team assessed Senior's scope 1 and 2 near-term and
long-term target ambitions and scope 3 long-term ambition and has determined
that they are in line with the Paris agreement targets to limit global warming
to a 1.5°C trajectory.

In addition, SBTi commended Senior on the ambition of their overall target,
which is the highest designation available through the SBTi process.

David Squires, Chief Executive of Senior said:

"Senior's purpose as a business is to help engineer the transition to a
sustainable world for the benefit of all our stakeholders, and the validation
of Senior's net-zero target by the SBTi is testament to the hard work across
the Group to take urgent action to combat the climate crisis.

"Staying at the forefront of climate disclosure and action is a core part of
our strategy as we enable our customers, who operate in the
hardest-to-decarbonise sectors, to transition to low carbon and clean energy
solutions.  In addition to our own actions, we are encouraging action by our
suppliers, underlined by our commitment that 82% of our suppliers by spend
will have science-based targets by 2025."

About Senior

Senior is a FTSE 250 international engineering and manufacturing Group with
operations in 12 countries.  It is listed on the main market of the London
Stock Exchange (symbol SNR).  Senior's Purpose is "we help engineer the
transition to a sustainable world for the benefit of all our stakeholders".
Senior designs and manufactures high technology components and systems for the
principal original equipment producers in the worldwide aerospace &
defence, land vehicle and power & energy markets.  Further information on
Senior plc may be found at: www.seniorplc.com (http://www.seniorplc.com)

About the Science Based Targets initiative

The Science Based Targets initiative ("SBTi") is a global body enabling
businesses to set ambitious emissions reductions targets in line with the
latest climate science.  It is focused on accelerating companies across the
world to halve emissions before 2030 and achieve net-zero emissions before
2050.

The initiative is a collaboration 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
defines and promotes best practice in science-based target setting, offers
resources and guidance to reduce barriers to adoption, and independently
assesses and approves companies' targets.

www.sciencebasedtargets.org (http://www.sciencebasedtargets.org)
 @sciencetargets (https://twitter.com/sciencetargets)

Further information

 Gulshen Patel                       Director of Investor Relations, Senior plc  +44 (0)1923 714 722
 Richard Webster-Smith / Blake Gray  FGS Global                                  +44 (0)20 7251 3801

 

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