RCS - Weir Group PLC - Weir achieves ‘A’ score from CDP

WeirAnnouncement

06/02/2024 08:15

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RNS Number : 1627C  Weir Group PLC  06 February 2024

Weir achieves 'A' score from CDP for transparency on climate change

 

The Weir Group, a global mining technology leader, is delighted to announce it
has, for the second year running, achieved a place on CDP's prestigious 'A
List' for its leadership in corporate transparency and performance on climate
change.

The A List recognises companies that are leading the way in cutting emissions,
mitigating climate risks and contributing to the low-carbon
economy. Retaining our 'A' rating in 2023 reflects our commitment to making
mining smart, efficient and sustainable and our continued progress in
executing our sustainability strategy. Achievements over the past year
include:

·      Cutting absolute scope 1 and 2 emissions from our operations by
17% between 2019 and 2022.

 

·      Achieving approval from SBTi of our more ambitious targets
(https://www.global.weir/newsroom/global-news/weirs-emissions-reduction-targets-approved-by-sbti/)
to reduce our absolute scope 1 and 2 CO(2)e emissions by 30% and absolute
scope 3 CO(2)e emissions by 15% across operations and value chain by 2030,
versus a 2019 baseline.

 

·      Sharing our first climate transition plan
(https://www.global.weir/globalassets/investors/reporting-centre/2023/2022-annual-report/weir-group-plc-2022-annual-report--accounts.pdf)
, aligned to the Task Force on Climate-related Financial Disclosures (TCFD),
providing full transparency on how we plan to deliver against our climate
targets.

·      Launching new work, that is pioneering in our sector, to quantify
the avoided emissions benefits of our mining technology solutions
(https://www.global.weir/newsroom/global-news/new-study-by-weir-highlights-big-energy-saving-opportunity-in-mining/)
. The study shows that replacing conventional technology with innovative new
solutions in a key mining process can cut energy use by 40% while also
avoiding 50% of CO(2)e emissions.

Weir is a leading supplier of innovative, highly engineered technology to the
world's mining industry. A large proportion of our total emissions fall within
scope 3, and so our biggest contribution to tackling climate change will come
from providing sustainable solutions for our customers.

Commenting on Weir's A score, Jon Stanton, CEO said:

"Being placed for a second year on CDP's 'A List' recognises the excellent
work of teams across Weir to reduce our own footprint, accelerate sustainable
mining for our customers and help our stakeholders understand our approach and
contribution to managing climate change. It reflects our commitment to our
purpose of enabling the sustainable and efficient delivery of the natural
resources essential to create a better future for our world."

 

Find out more about how we are making mining smart, efficient and sustainable
at www.global.weir/investors/capital-markets-event-december-2022
(http://www.global.weir/investors/capital-markets-event-december-2022)

Read more about our transition plan in our 2022 Annual Report at
www.global.weir/investors/reporting-centre/
(http://www.global.weir/investors/reporting-centre/)

Learn more about our avoided emissions study
(https://www.global.weir/newsroom/global-news/new-study-by-weir-highlights-big-energy-saving-opportunity-in-mining/)
, highlighting significant energy saving opportunities in mining.

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 record-breaking 23,000 companies responded.

 Enquiries:
 Investors: Edward Pears   +44 (0) 141 308 3725

 Media: Sally Jones        +44 (0) 141 308 3666

 Citigate Dewe Rogerson:   +44 (0) 207 638 9571

 Kevin Smith               Weir@citigatedewerogerson.com (mailto:Weir@citigatedewerogerson.com)

 

Notes to Editors

The full list of companies that made this year's CDP A List, together with the
full methodology and criteria is available on CDP's website at:
https://www.cdp.net/en/companies/companies-scores
(https://www.cdp.net/en/companies/companies-scores)

 

About The Weir Group PLC

Founded in 1871, The Weir Group PLC is one of the world's leading engineering
businesses with a purpose to make its mining and infrastructure customers'
operations more sustainable and efficient. Weir's highly engineered technology
enables critical resources to be produced using less energy, water and waste
while reducing customers' total cost of ownership. The Group is ideally
positioned to benefit from structural trends that support long-term demand for
its technology including the need for more essential metals to support
economic development and carbon transition. The Group has c.12,000 employees
operating in over 60 countries with a presence in every major mining region of
the world. Find out more at www.global.weir (http://www.global.weir) .

 

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN)
and its American Depositary Receipts trade over-the-counter in the USA
(ticker: WEGRY).

 

 

About CDP

CDP is a global non-profit that runs the world's environmental disclosure
system for companies, cities, states and regions. Founded in 2000 and working
with more than 740 financial institutions with over $136 trillion in assets,
CDP pioneered using capital markets and corporate procurement to motivate
companies to disclose their environmental impacts, and to reduce greenhouse
gas emissions, safeguard water resources and protect forests. Over 24,000
organizations around the world disclosed data through CDP in 2023, with more
than 23,000 companies - including listed companies worth two thirds global
market capitalization - and over 1,100 cities, states and regions. 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. CDP is a founding member of
the Science Based Targets initiative, We Mean Business Coalition, The Investor
Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us
@CDP to find out more.

 

 

 

 

 

 

 

 

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