Last checked at 26 Oct 2022 07:00
26 October 2022
Ceres Power Holdings plc
Publication of Sustainability Report
Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company") (AIM:CWR.L), a world-leading developer of electrochemical technologies both in fuel cells for power generation and electrolysis for the creation of green hydrogen and energy storage, is pleased to announce the publication of its inaugural Sustainability Report, a copy of which can be found at www.ceres.tech/sustainability/ and includes:
· Full disclosure of Scopes 1 and 2 and now expansion of Scope 3 emissions in line with the Streamlined Energy & Carbon Reporting (SECR) framework;
· Using SASB guidance on the disclosure of financially material sustainability measures, refining and adapting the metrics to align with Ceres' business;
· Commitment to membership of the United Nations ("UN") Global Compact, a voluntary initiative to promote the development, implementation and disclosure of responsible business practices;
· Continued progress in Diversity, Equity, Belonging & Inclusion both in the business and across the leadership team, and strategic focus on attracting and retaining talent;
· Reviewing practices against the Taskforce for Climate-Related Financial Disclosure (TCFD) framework, in prepration for transitioning to the Main Market of the London Stock Exchange.
Ceres recognises that the Company needs to have sustainability considerations embedded across the business; from research and development, engagement through its supply chain, supporting partners to scale the technology, through to the end-of-life of products and systems where its technology has been deployed. Ceres aims to ensure its activities are in line with stakeholders' expectations and it undertook a materiality assessment in 2021 in partnership with an independent third party and identified the key opportunities and risks to be addressed in the Company's ongoing ESG programme. Sustainably to Ceres is about maintaining strong governance standards whilst making a positive impact on society and the planet-for the benefit of all stakeholders.
Professor Dame Julia King, Baroness Brown of Cambridge, Non-executive Director and Adviser to the ESG Committee of Ceres said: "We are at a critical time in the history of our planet, with an urgent need to fundamentally change the energy system and accelerate the global transition to clean and affordable energy. It is essential for all companies across every industry to go further to reduce their social and environmental impacts. I am pleased that Ceres is now taking the first steps on its sustainability journey to evaluate and disclose how we plan to manage our social and environmental impacts as a business and across our supply chain."
Phil Caldwell, Chief Executive Officer and Chair of the ESG Committee of Ceres, added: "Ceres' world-leading technology has a crucial role to play in global decarbonisation. Our inaugural Sustainability Report captures our commitments to and progress towards building a long-term, future-proofed business that places society and the planet at its core. It is a significant milestone as we advance towards our transition to the Main Market of the London Stock Exchange and ensures we maintain the highest standards of governance that reflects our purpose and our values."
Ends
The Company will be hosting a live webcast for analysts and investors on 21 November at 14.00 GMT, during which the management team will present Ceres' sustainability strategy; setting out objectives for the near and medium term, followed by a Q&A session. To register your interest in participating, please go to: https://www.investormeetcompany.com/ceres-power-holdings-plc/register-investor.
For further information visit www.ceres.tech or contact:
Ceres Power Holdings plc Elizabeth Skerritt |
Tel: +44(0)7932 023 283 | |
Investec Bank PLC (NOMAD & Joint Broker) Jeremy Ellis /Patrick Robb /Ben Griffiths |
Tel: +44 (0)207 597 5970 | |
Berenberg (Joint Broker) Ben Wright / Mark Whitmore |
Tel: +44 (0)203 207 7800 | |
FTI Consulting (Financial PR) Dwight Burden / Sara Powell
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Tel: +44 (0)203 727 1000 Email: ceres_power@fticonsulting.com
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About Ceres
Ceres is a world-leading developer of electrochemical technologies: fuel cells for power generation, electrolysis for the creation of green hydrogen and energy storage. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in Korea, to develop systems and products that address climate change for power generation, transportation, industry, data centres and everyday living. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.