Henry Boot Regulatory News (BOOT)

28 June 2021

Henry Boot PLC sets Net Zero Carbon target for all direct emissions by 2030

Henry Boot today launches its Net Zero Carbon (NZC) Framework, which provides a long-term guide for the business to achieve NZC for all direct greenhouse gas emissions (GHG) by 2030.

In the UK, the built environment contributes around 40% of (GHG). Whilst Henry Boot's carbon emissions have been decreasing since 2013, it recognises the importance of accelerating action and continuing to reduce its environmental impact with a clear pathway to NZC, as part of its wider Responsible Business Strategy which builds on strong foundations in this area.

In 2020, a dedicated team was established comprising people from across the business, led by Ed Hutchinson (Managing Director of HBD) and Tony Shaw (Managing Director elect of Henry Boot Construction) to create a Framework to achieve NZC. The resulting Framework, which has been created in collaboration with specialist environmental consultancy Anthesis is guided by three key objectives:

1. To achieve NZC for directly controlled GHG emissions (Scopes 1 and 2) by 2030.

2. To enhance understanding of the businesses' indirectly controlled emissions and deliver reduction solutions.

3. To empower our people and partners to take positive action to collaboratively decarbonise.

The NZC Framework is tailored to Henry Boot's operations and uses the Group's 2019 GHG emissions as a baseline for measuring emissions reduction. The first phase of the Framework (2021-2025) will guide Henry Boot to deliver short term reduction measures for directly controlled emissions (Scopes 1 and 2). Key initiatives include:

· An energy and resource audit of all controlled sites followed by the delivery of proposed carbon reduction solutions.

· Launch of fleet renewal programme, with the aim of all fleet cars and vans to be electric by 2030.

· Initial delivery of the sustainable HGV renewal programme.

· Generator decarbonisation programme to replace all generators with sustainable alternatives.

· Rapid introduction of biodiesel to decrease emissions whilst vehicle fleet and generators are replaced.

· Launch of new Agile Working Framework and Sustainable Transport Policy both of which support the targeted 20% reduction in business travel.

From 2026, the Group will continue to accelerate its decarbonisation programme to reach its target of NZC for all direct emissions by 2030 whilst delivering its medium-term strategic target of growing capital employed by over 40%.

Henry Boot has committed to responsibly offset any residual emissions produced by commercial activity through the funding of accredited carbon-offsetting schemes.

Tim Roberts, Chief Executive Officer said:

"This is an exciting step for Henry Boot as we continue to enhance our environmental stewardship. We have always been a business that takes a long-term strategic view, focusing on authentic delivery - and our approach to tackling climate change will be no different. The NZC Framework demonstrates the adaptability of Henry Boot, as we evolve our business model to support a cleaner, healthier planet for all of us - all whilst continuing to grow our business.

All my instincts tell me that by doing the right thing, and acting responsibly with regards to our stakeholders, we will be creating long term value in the business and of course help create a better planet for us all to enjoy"

A downloadable version of Henry Boot's NZC Framework can be downloaded here.

Enquiries:

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Jack Kidder, Responsible Business Manager

Daniel Boot, Group Communications Manager

Tel: 0114 255 5444 | communications@henryboot.co.uk |

Numis Securities Limited

Joint Corporate Broker

Garry Levin/George Fry

Tel: 020 7260 1000

Peel Hunt LLP

Joint Corporate Broker

Charles Batten/Harry Nicholas

Tel: 020 7418 8900

Hudson Sandler

Wendy Baker/Sophie Miles

Tel: 020 7796 4133

Email: henryboot@hudsonsandler.com 

About Henry Boot PLC

Henry Boot PLC (BOOT.L) was established over 135 years ago and is one of the UK's leading and long-standing property investment and development, land promotion and construction companies. Based in Sheffield, the Group is comprised of the following three segments:

Land Promotion:Hallam Land Management Limited

Property Investment and Development:Henry Boot Developments Limited (HBD), Stonebridge Homes Limited

Construction:Henry Boot Construction Limited, Banner Plant Limited, Road Link (A69) Limited

The Group possess a high-quality strategic land portfolio, an enviable reputation in the property development market backed by a substantial investment property portfolio and an expanding, jointly owned, house building business. It has a construction specialism in both the public and private sectors, a long-standing plant hire business, and generates strong cash flows from its PFI contract through Road Link (A69) Limited.

www.henryboot.co.uk