CDP ‘A List’ for climate change

Severfield PLC

08 February 2024

 

8 February 2024

Severfield plc

('the Company' or 'the Group')

CDP 'A List' for climate change

Severfield plc, the market leading structural steel group, announces that the Group has been recognised for leadership in corporate transparency and performance on climate change by CDP, the global environmental non-profit organisation, securing a place on its annual 'A List'.

Based on information reported through CDP's 2023 Climate Change questionnaire, Severfield is one of a small number of companies that achieved this ranking, out of over 21,000 companies assessed.

Achieving an 'A' rating demonstrates the Group's commitment to best practice when it comes to reducing our impact on climate change. Other achievements made by the Group include:

§ Achieving a 33 per cent reduction in our Scope 1 and 2 GHG (greenhouse gas) emissions from 2018 (our base year) using a market-based approach, exceeding our short-term target to reduce emissions by 25 per cent by 2025.

§ Switching to green electricity tariffs with 94 per cent of our total purchased and consumed energy coming from these sources in 2023.

§ Being accredited as carbon neutral for the third year running after third-party verification for Scope 1, 2 and operational Scope 3 GHG emissions.

§ Received validation from the SBTi (Science Based Targets initiative) of our near-term, long-term, and overall Net Zero targets for reducing GHG emissions.

Alan Dunsmore, CEO of Severfield plc, commented: "Our commitment to reducing our impact on climate change has never been clearer. As market leaders in the steel industry, we have a responsibility to display best practice when it comes to environmental disclosure, and we are pleased that CDP have recognised that we are delivering on this."

Sherry Madera, CEO of CDP, commented: "Congratulations to all the companies on CDP's A List. Earning a place on the A List is about more than the score. It's an indication of high-quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and, crucially, enables them to follow through on their ambitions."

The full list of companies that made this year's CDP A List is available on the link listed below: https://www.cdp.net/en/companies/companies-scores

ENDS

For further information, please contact:

Severfield                                 Alan Dunsmore                                     01845 577 896

Chief Executive Officer

Adam Semple                                       01845 577 896

Chief Financial Officer

Jefferies International               Simon Hardy                                         020 7029 8000

Will Soutar                                            020 7029 8000

Liberum Capital                        Nicholas How                                        020 3100 2000

Ben Cryer                                              020 3100 2000

Camarco                                   Ginny Pulbrook                                                 020 3757 4980

Tom Huddart                                         020 3757 4980

Notes to editors:

Severfield

Severfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of c.150,000 tonnes of steel per annum. The Group has seven sites, c.1,800 employees and expertise in large, complex projects across a broad range of sectors. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel (India's largest steel producer).

CDP

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 detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.

 

END