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.