New Carbon Reduction Targets

RNS Number : 9603V

Ibstock PLC

17 December 2021

 

17 December 2021

Ibstock plc

("Ibstock" or "the Group")

Ibstock sets ambitious new carbon reduction targets

Ibstock , a leading UK manufacturer of clay bricks and concrete products, is pleased to announce ambitious new carbon reduction commitments, including a target for the business to be net zero carbon by 2040 .

Having substantially achieved our existing goal of a 15% reduction in CO2 per tonne of production, the Group has established new, more stretching targets to achieve a 40% reduction by 2030, and a commitment to become net carbon zero by 2040.  This ambitious new net zero commitment will cover scope 1 & 2   emissions and will include investment in more efficient production processes and in high quality environmental projects to offset residual carbon. A strategy to reduce Ibstock's indirect Scope 3 carbon emissions, which contribute less than 40% of the business impact, will be developed in 2022.  

These new targets build on the Group's existing sustainability roadmap commitments, creating a framework of targets and critical milestones at the centre of a new 2030 sustainability strategy.  Full details of the new sustainability strategy and net zero journey will be published in March 2022, as part of the Group's 2021 results announcement.

Joe Hudson, Chief Executive Officer, commented: "These new carbon commitments, including our pledge to be net zero by 2040, represent a bold step on the Company's journey to address climate change and move the business into the low carbon economy. I am proud of our colleagues across the business who are driving forward our sustainability agenda and securing its place at the core of our purpose as a business and I look forward to presenting our ambitions and targets in March 2022.''

Notes:

Scope 1 emissions  - direct Green House Gas (GHG) emissions from operations that are owned or controlled by Ibstock.

Scope 2 emissions  - indirect emissions from electricity Ibstock buys from the grid for use at our facilities (factories and offices).

Scope 3  - other indirect emissions which result from Ibstock PLC activities such as procurement and haulage.

Ibstock plc	01530 261 999
Chris McLeish, CFO
Citigate Dewe Rogerson	020 7638 9571
Kevin Smith
Holly Gillis

About Ibstock plc

Ibstock plc is a leading UK manufacturer of clay bricks and a diversified range of clay and concrete products. Its principal products are clay bricks, brick components, concrete roof tiles, concrete substitutes for stone masonry, concrete fencing and pre ‐ stressed concrete products.

The Group's two divisions are:

Ibstock Clay: The leading manufacturer by volume of clay bricks sold in the United Kingdom. With 16 manufacturing sites Ibstock Brick has the largest brick production capacity in the United Kingdom. It operates a network of 18 active quarries located close to its manufacturing plants. Ibstock Kevington provides masonry and pre-fabricated component building solutions, operating from 6 sites across the United Kingdom.

Ibstock Concrete: A leading manufacturer of concrete roofing, walling, flooring and fencing products, along with lintels and general concrete building products, with 14 manufacturing plants in the United Kingdom.

 

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