Net Zero Strategy

Hargreaves Services PLC

09 July 2024

 

Hargreaves Services plc

("Hargreaves" or the "Group")

Hargreaves publishes its Net Zero Transition Strategy

Outlines clear goals to deliver a Net Zero carbon footprint by 2050

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, announces it has launched its Net Zero Transition Strategy, outlining ambitious goals to become Net Zero by 2030 at a corporate level, with a scale of targets through all its ancillary activities up to 2050, with its final pledge to reach Net Zero on Maintenance, Construction and Infrastructure.

The plan has been published on Hargreaves' website here.

Different parts of Hargreaves' operations will move towards Net Zero at different speeds depending on a variety of factors, including equipment lifespan. Therefore, the Group has split its plan into four separate components and prepared a Net Zero Plan for each: Corporate Emissions, Plant Emissions, Vehicle Emissions, Maintenance, Construction and Infrastructure Emissions. The specific targets to achieve net zero emissions are:

·    Corporate Activities by 2030

·    Cars and Vans by 2035

·    Plant by 2040

·    HGV by 2050

·    Maintenance, Construction and Infrastructure by 2050

The roadmaps for each component have been published in detail in the plan. The Group will also deliver a Carbon Innovation 8 Point Plan, incorporating eight different initiatives to support the Net Zero plans, ranging from planting trees, providing clients with low-carbon solutions, and delivering energy and environmental impact awareness training for staff.  

To achieve these goals, the Group has a well-established ESG Working Group including thought leadership, digitalisation and leading innovation in the sectors in which it operates.

The Group holds an ESG A rating, independently assessed and awarded by Integrum ESG, via its broker, Singer Capital Markets and was granted the Corporate Social Responsibility Gold award in 2022 via an independent assessor, CSR Accreditation. Hargreaves has championed sustainability in earthworks for over a decade. Since 2011 the Company has contributed to core initiatives, such as an earthworks carbon calculator published in the Institution of Civil Engineers (ICE) Proceedings and collaborated with European peers for nine years in preparation of the 2019 European Earthworks Standard and subsequent European Code of Practice for Sustainable Earthworks, published in 2023.

Gordon Banham, CEO of Hargreaves, commented: "We are delighted to publish our clearly defined and ambitious goals to eliminate our carbon footprint. Given the Group's heritage, this will reflect a remarkable transition from an historically carbon-intensive operation to Net Zero.

"While this plan clearly sets out the Company's longer-term strategy, Hargreaves has already been at the forefront of delivering sustainable infrastructure and carbon cutting projects as demonstrated by the construction of the five-leg conveyor system in a bid to reduce carbon emissions on the HS2 project, among others."

For further details:
Hargreaves Services plc			www.hsgplc.co.uk
Gordon Banham, Chief Executive Officer			Tel: [phone]
Stephen Craigen, Group Financial Officer
Walbrook PR (Financial PR & IR)		Tel: [phone] or [e-mail]
Paul McManus/Louis Ashe-Jepson/		Mob: [phone]
Charlotte Edgar	07884 664 686
Singer Capital Markets (Nomad and Corporate Broker)				Tel: [phone]
Sandy Fraser/Phil Davies/Sam Butcher

About Hargreaves Services plc (www.hsgplc.co.uk)

Hargreaves Services plc is a diversified group delivering services to the industrial and property sectors, supporting key industries within the UK and South East Asia. The Company's three business segments are Services, Hargreaves Land and an investment in a German joint venture, Hargreaves Raw Materials Services GmbH (HRMS). Services provides critical support to many core industries including Energy, Environmental, UK Infrastructure and certain manufacturing industries through the provision of materials handling, mechanical and electrical contracting services, logistics and major earthworks. Hargreaves Land is focused on the sustainable development of brownfield sites for both residential and commercial purposes. HRMS trades in specialist commodity markets and owns DK Recycling, a specialist recycler of steel waste material. Hargreaves is headquartered in County Durham and has operational centres across the UK, as well as in Hong Kong and a joint venture in Duisburg, Germany.

 

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