REG - Weir Group PLC - Weir commits to science-based emission reductions

WeirAnnouncement

06/01/2022 07:00

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RNS Number : 5706X  Weir Group PLC  06 January 2022

Press Release

06 January 2022

 

Weir commits to set science-based targets to reduce climate impact

 

The Weir Group is pleased to announce that it has committed to set new
Group-wide emission reductions in line with climate science and the Science
Based Targets initiative (SBTi). This new commitment to strengthen our targets
is an important step in Weir's strategy as we challenge ourselves to further
reduce emissions from our own operations and in our wider value chain. We
believe doing this is right for the world and for our business. We have a
responsibility, and a shared interest, to minimise carbon emissions to help
protect the future of the planet, aligned with our purpose to enable the
sustainable and efficient delivery of the natural resources essential to
create a better future for the world.

We already have ambitious Scope 1 and 2 CO(2)e targets, covering Weir's own
operations. But as we look at our broader value chain, CO2e emissions beyond
our own facilities (Scope 3) are dominated by the use of our products and
solutions in our customers' operations. Engineering innovative products and
solutions that significantly drive down those emissions will not only deliver
Weir's climate ambition but also that of our customers, and some of our
technologies already offer energy savings of up to 40%.

We expect to publish our updated targets and have them validated during 2022.
Further innovation to reduce energy consumption per tonne of ore processed
will help drive emissions down. But meeting SBTi expectations will also
require broader energy transformation in mining and we are ready to partner
with customers and the industry to help make that happen.

Commenting on the announcement, Jon Stanton, CEO of the Weir Group said:

"Weir technology has been at the heart of transforming industries throughout
our 150-year history and we have unique expertise in developing solutions that
will help make mining more sustainable. Transforming the environmental
footprint of the mining sector will not be easy but it is essential. Adopting
science-based targets sees us stepping up our commitment to our customers, and
society, to work in partnership to develop the solutions needed to tackle
climate change head on."

 Enquiries:
 Investors: Stephen Christie     +44 (0) 141 308 3781
 Media: Citigate Dewe Rogerson:  +44 (0) 207 638 9571
 Chris Barrie / Kevin Smith      Weir@citigatedewerogerson.com

 

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.11,000
employees operating in over 60 countries with a presence in every major mining
region of the world.  Find out more at www.global.weir.

 

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).

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