REG - Severfield PLC - CDP ‘A List’ for climate change

SeverfieldAnnouncement

08/02/2024 07:15

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RNS Number : 4109C  Severfield PLC  08 February 2024

8 February 2024

Severfield plc

('the Company' or 'the Group')

CDP 'A List' for climate change

 

Severfield plc, the market leading structural steel group, announces that the
Group has been recognised for leadership in corporate transparency and
performance on climate change by CDP, the global environmental non-profit
organisation, securing a place on its annual 'A List'.

 

Based on information reported through CDP's 2023 Climate Change questionnaire,
Severfield is one of a small number of companies that achieved this ranking,
out of over 21,000 companies assessed.

 

Achieving an 'A' rating demonstrates the Group's commitment to best practice
when it comes to reducing our impact on climate change. Other achievements
made by the Group include:

 

§ Achieving a 33 per cent reduction in our Scope 1 and 2 GHG (greenhouse gas)
emissions from 2018 (our base year) using a market-based approach, exceeding
our short-term target to reduce emissions by 25 per cent by 2025.

 

§ Switching to green electricity tariffs with 94 per cent of our total
purchased and consumed energy coming from these sources in 2023.

 

§ Being accredited as carbon neutral for the third year running after
third-party verification for Scope 1, 2 and operational Scope 3 GHG emissions.

 

§ Received validation from the SBTi (Science Based Targets initiative) of our
near-term, long-term, and overall Net Zero targets for reducing GHG emissions.

 

Alan Dunsmore, CEO of Severfield plc, commented: "Our commitment to reducing
our impact on climate change has never been clearer. As market leaders in the
steel industry, we have a responsibility to display best practice when it
comes to environmental disclosure, and we are pleased that CDP have recognised
that we are delivering on this."

 

Sherry Madera, CEO of CDP, commented: "Congratulations to all the companies on
CDP's A List. Earning a place on the A List is about more than the score. It's
an indication of high-quality, complete data that equips companies with a
holistic view of their environmental impact, serves as a baseline for
transition plans and, crucially, enables them to follow through on their
ambitions."

 

The full list of companies that made this year's CDP A List is available on
the link listed below: https://www.cdp.net/en/companies/companies-scores
(https://www.cdp.net/en/companies/companies-scores)

 

ENDS

 

For further information, please contact:

 

Severfield                                 Alan
Dunsmore
01845 577 896

Chief Executive Officer

 

Adam
Semple
01845 577 896

Chief Financial Officer

 

Jefferies International               Simon Hardy
 
020 7029 8000

Will
Soutar
020 7029 8000

 

Liberum Capital                        Nicholas How
 
020 3100 2000

Ben
Cryer
020 3100 2000

 

Camarco
Ginny Pulbrook
 
020 3757 4980

Tom Huddart
 
020 3757 4980

 

Notes to editors:

Severfield

Severfield is the UK's market leader in the design, fabrication and
construction of structural steel, with a total capacity of c.150,000 tonnes of
steel per annum. The Group has seven sites, c.1,800 employees and expertise in
large, complex projects across a broad range of sectors. The Group also has an
established presence in the expanding Indian market through its joint venture
partnership with JSW Steel (India's largest steel producer).

 

CDP

Fully TCFD aligned, CDP holds the largest environmental database in the world,
and CDP scores are widely used to drive investment and procurement decisions
towards a zero carbon, sustainable and resilient economy. In 2023, over 740
financial institutions with over US$136 trillion in assets requested companies
to disclose data on environmental impacts, risks and opportunities through
CDP's platform.

 

A detailed and independent methodology is used by CDP to assess these
companies, allocating a score of A to D- based on the comprehensiveness of
disclosure, awareness and management of environmental risks and demonstration
of best practices associated with environmental leadership, such as setting
ambitious and meaningful targets.

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