Spectris announces Net Zero targets

RNS Number : 8291G

Spectris PLC

29 July 2021

 

Spectris announces Net Zero targets

29 July 2021 - In support of our ambition to be a leading sustainable business, Spectris plc ('Spectris') (LSE: SXS), the expert in providing insight through precision measurement, today establishes our ambition to achieve Net Zero across our value chain, including all Scope 1, 2 and 3 emissions. In support of this ambition, we are setting the following targets:

· Our operations - We commit to reducing absolute Scope 1 and 2 emissions by 85% by 2030 from 2020, and achieving Net Zero by 2030: and

· Our value chain - We commit to reducing absolute Scope 3 emissions by 42% by 2030 from 2020, and achieving Net Zero by 2040.

Both targets are aligned with latest climate science and the Paris Agreement's goal to limit global warming to 1.5^oC above pre-industrial levels.

We have submitted both targets to the Science Based Targets Initiative for validation.

In support of these targets, we are:

· Aligning with the RE 100 initiative and committing to sourcing 100% of our global electricity from renewable sources by 2030;

· Aligning with the EV 100 initiative and committing to a 100% electric global fleet by 2030;

· Committing to zero waste to landfill by 2030 across our global operations; and

· Accelerating our focus on product efficiency and product circularity.

Commenting on the targets, Andrew Heath, Chief Executive, said: "Given the scale of today's climate challenge, no single organisation can tackle this task alone. A Net Zero world requires collaboration across the entire value chain. We are committed to taking a leading role in minimising the emissions footprint of our own operations, and the activity across our supply chain, as well as helping accelerate our customers' journeys to Net Zero.

This is a challenging ambition, but having conducted a comprehensive baselining exercise, we have established a clear plan to meet our mid and long-term Net Zero goals.

We are privileged to have a highly skilled and engaged workforce, including many scientists and engineers. I am excited by the innovation that we will collectively deliver, to reduce emissions, redesign lower carbon products and develop circular solutions. And combined with the efforts of our customers, who also have ambitious sustainability targets and requirements, we have confidence in achieving our Net Zero ambition.

Beyond this ambition, we recognise that the greatest difference we can make to a Net Zero world, is through our products and solutions, which support our customers to make the world cleaner, healthier and more productive. This remains the purpose at the very heart of our strategy."

For and on behalf of Spectris plc

LEI Number: 213800Z4CO2CZO3M3T10

Contacts:

Spectris plc

Siobhán Andrews

Head of Corporate Affairs
[phone]/ [phone]

FTI Consulting

Richard Mountain/Susanne Yule

[phone]

About Spectris

Spectris' global group of businesses are focused on delivering value beyond measure for all our stakeholders. We target global, attractive and sustainable markets, where growth and high returns are supported by long-term drivers. Precision is at the heart of what we do. We provide customers with expert insight through our advanced instruments and test equipment, augmented by the power of our software and services. This equips customers with the ability to reduce time to market, improve processes, quality and yield. In this way, Spectris know-how creates value for our wider society, as our customers design, develop, test and manufacture their products to make the world a cleaner, healthier and more productive place. Headquartered in Egham, Surrey, United Kingdom, the Company employs approximately 7,650 people located in more than 30 countries. For more information, visit www.spectris.com .

 

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