Near-term emissions targets approved by SBTi

RNS Number : 9496D

Rotork PLC

25 October 2022

 

Rotork Plc

Near-term emissions targets approved by SBTi

25 October 2022

Rotork is pleased to announce that the Science Based Targets initiative¹ ("SBTi") has validated that the corporate greenhouse gas emissions reduction targets submitted the group have been deemed to be in conformance with the SBTi Criteria and Recommendations (version 5).

Rotork commits:

· to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2020 base year.

· to reduce absolute scope 3 GHG emissions from use of sold products 25% by 2030 from a 2020 base year.

· that 25% of its suppliers by emissions covering purchased goods and services will have science-based targets by 2027.

Rotork is committed to enabling a sustainable future and in early 2022 we pledged to significant greenhouse gas emissions cuts, in-line with those required to meet the Paris Climate Agreement goals. In addition to our approved near-term emissions reduction targets, we are also targeting net-zero by 2035 for scopes 1 & 2 and 2045 for scope 3.

Commenting on the validation, Kiet Huynh, CEO said:

"We are extremely pleased that the SBTi has approved our near-term greenhouse gas emissions reduction targets. Rotork is one of the first UK-based companies in the electrical equipment and machinery sector to receive this approval for near-term 1.5^oC aligned targets. For everyone at Rotork, environmental responsibility is an important commitment, and this approval validates our approach. As we strive to eliminate our emissions, we also have a broader role to play in enabling the transition to a sustainable, low carbon, future. Our products and services are used in many of the flow-intensive new energy technologies that will help deliver a decarbonised economy and enable our customers to reduce their emissions and achieve their environmental goals."

Enquiries:
Rotork plc	Tel:  [phone]
Andrew Carter, Investor Relations Director
FTI Consulting	Tel:  + 44 (0)20 3727 1340
Nick Hasell / Susanne Yule

¹ Originating from a collaboration between CDP, the UN Global Compact, the World Resource Institute (WRI), and the World Wildlife Fund (WWF), and one of the commitments of the We Mean Business coalition, the Science Based Targets initiative defines and promotes best practices in science-based target setting and independently evaluates and approves corporate targets to accelerate the transition to a low-carbon economy. For more information please visit www.sciencebasedtargets.org.

About Rotork

Rotork is a market-leading global provider of mission-critical intelligent flow control solutions for oil & gas, water and wastewater, power, chemical, process and industrial applications. We help customers around the world to improve efficiency, reduce emissions, minimise their environmental impact and assure safety. Rotork employs about 3,200 people, has manufacturing facilities in 17 locations and serves 170 countries through a global service network. Its shares have a premium listing on the London Stock Exchange (symbol: ROR) and are a constituent of the FTSE 250 index. For more information please visit www.rotork.com .

 

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