Last checked at 13 Oct 2023 07:00
Senior plc achieves most ambitious net-zero target designation available through the SBTi process
Senior plc ("Senior" or "the Group"), an international manufacturer of high technology components and systems, today announces that its ambitious Net Zero science-based emission reduction targets have been validated by the Science Based Targets initiative ("SBTi"). The validation highlights Senior's status as the first company in the global Aerospace & Defence sector to have its 2025 emissions reduction targets independently verified and approved by SBTi.
Senior's verified SBTi targets, using 2018 as a base year are:
? | Commitment to reach net-zero greenhouse gas emissions across the value chain by 2040. |
? | Near-term, commitment to reduce absolute scope 1 and 2 greenhouse gas emissions 30% by 2025, and that 82% of suppliers by spend covering purchased goods and services and capital goods will have science-based targets by 2025. (2018 base year). |
? | Commitment to reduce absolute scope 1,2 and 3 greenhouse gas emissions 90% by 2040 from the same base year. (2018 base year). |
SBTi's Target Validation Team assessed Senior's scope 1 and 2 near-term and long-term target ambitions and scope 3 long-term ambition and has determined that they are in line with the Paris agreement targets to limit global warming to a 1.5°C trajectory.
In addition, SBTi commended Senior on the ambition of their overall target, which is the highest designation available through the SBTi process.
David Squires, Chief Executive of Senior said:
"Senior's purpose as a business is to help engineer the transition to a sustainable world for the benefit of all our stakeholders, and the validation of Senior's net-zero target by the SBTi is testament to the hard work across the Group to take urgent action to combat the climate crisis.
"Staying at the forefront of climate disclosure and action is a core part of our strategy as we enable our customers, who operate in the hardest-to-decarbonise sectors, to transition to low carbon and clean energy solutions. In addition to our own actions, we are encouraging action by our suppliers, underlined by our commitment that 82% of our suppliers by spend will have science-based targets by 2025."
About Senior
Senior is a FTSE 250 international engineering and manufacturing Group with operations in 12 countries. It is listed on the main market of the London Stock Exchange (symbol SNR). Senior's Purpose is "we help engineer the transition to a sustainable world for the benefit of all our stakeholders". Senior designs and manufactures high technology components and systems for the principal original equipment producers in the worldwide aerospace & defence, land vehicle and power & energy markets. Further information on Senior plc may be found at: www.seniorplc.com
About the Science Based Targets initiative
The Science Based Targets initiative ("SBTi") is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute ("WRI") and the World Wide Fund for Nature ("WWF") and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies' targets.
www.sciencebasedtargets.org @sciencetargets
Further information
Gulshen Patel | Director of Investor Relations, Senior plc | +44 (0)1923 714 722 |
Richard Webster-Smith / Blake Gray | FGS Global | +44 (0)20 7251 3801 |