SPX Spirax-sarco Engineering Plc

TIDMSPX

RNS Number : 0810C

Spirax-Sarco Engineering PLC

17 June 2021

News Release

Thursday 17(th) June 2021

Spirax-Sarco Engineering sets new targets to accelerate

sustainability performance.

Spirax-Sarco Engineering plc, the thermal energy management and niche pumping specialist, has launched its refreshed Sustainability strategy and announced new targets designed to accelerate sustainability performance, including:

   --    Achieve net zero (1) in Scope 1 and 2 greenhouse gas emissions (2) by 2030 
   --    Deliver a 10% biodiversity net gain from direct operations by 2025 (3) 
   --    Send zero waste to landfill by 2025 
   --    Further raise global supply chain standards 
   --    Grow sales of products with quantifiable sustainability benefits 
   --    Establish a GBP5 million (4) fund to support inclusive access to education 

The new strategy builds on Spirax-Sarco Engineering's responsible business foundations which are underpinned by its focus on Health & Safety, People & Wellbeing, Inclusion & Diversity and Ethical Business Practices.

With over 8,000 people working in 68 countries worldwide, Spirax-Sarco Engineering is deeply embedded within the communities where it operates. The Company's technologies play a crucial role in critical industrial processes responsible for the production of many products used every day. Its purpose is to create sustainable value for all its stakeholders by engineering a more efficient, safer and sustainable world.

One Planet: Engineering with Purpose is Spirax-Sarco Engineering's strategic roadmap towards achieving leadership in industrial sustainability and to building a more sustainable future. More details can be found at spiraxsarcoengineering.com/sustainability/one-planet.

Group Chief Executive, Nicholas Anderson, said:

"The world's challenges are global and complex. By operating responsibly and working with our stakeholders to engineer a more efficient, safer and sustainable world, we aim to make a difference. Our new strategy has been developed with input from over 600 people, it is evidence-based and focuses on initiatives that will create lasting impact for us and the wider world.

"Our strategy addresses how we source materials to how we develop, manufacture and sell our products. It also focuses on creating sustainability benefits for our customers and prioritises the way we support our communities. We are investing in sustainability across our Group, building on a legacy of responsible business operations, working ethically and safely, as well as creating inclusive environments where diversity can thrive. Across our Group we will support each other and work with our customers, suppliers and communities to drive meaningful and positive change."

Enquiries:

Citigate Dewe Rogerson

Tel: +44 (0)20 7638 9571

Spirax-Sarco Engineering plc

Shaun Laubscher, Head of Investor Relations +44 (0) 7717 512757

Hazel Meldrum, Group Head of Corporate Communications +44 (0) 7741 233091

Tel: + 01242 521361

About Spirax--Sarco Engineering plc

Spirax--Sarco Engineering plc is a thermal energy management and niche pumping specialist. It comprises three world--leading businesses: Steam Specialties, for the control and management of steam; Electric Thermal Solutions, for advanced electrical process heating and temperature management solutions; and Watson-Marlow, for peristaltic pumping and associated fluid path technologies. The Steam Specialties and Electric Thermal Solutions businesses provide a broad range of fluid control and electrical process heating products, engineered packages, site services and systems expertise for a diverse range of industrial and institutional customers. Both businesses help their end users to improve production efficiency, meet their environmental sustainability targets, improve product quality and enhance the safety of their operations. Watson--Marlow provides solutions for a wide variety of demanding fluid path applications with highly accurate, controllable and virtually maintenance-free pumps and associated technologies.

The Group is headquartered in Cheltenham, UK, has strategically located manufacturing plants around the world and employs over 8,000 people, including 1,900 direct sales and service engineers. Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX) and it is a constituent of the FTSE 100 and the FTSE4Good indices.

Spirax-Sarco Engineering plc's Company purpose is to create value for all its stakeholders as it engineers a more efficient, safer and sustainable world.

Further information can be found at www.spiraxsarcoengineering.com

Notes:

1. net zero: no increase in greenhouse gas emissions (GHG) to the atmosphere as a result of GHG emissions associated with Spirax-Sarco Engineering's direct operations.

   2.     Scope 1 (direct emissions) and Scope 2 (indirect emissions) from our direct operations. 
   3.     Direct operations, comprising our sales and manufacturing footprint globally. 
   4.     GBP5 million to be paid by the Fund up to 2030. 

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