Senior PLC Senior's Greenhouse Gas emission reduction targets

TIDMSNR

Senior PLC

23 July 2020

Senior plc leads the Aerospace & Defence sector in approval of 1.5degC Greenhouse Gas ("GHG") emission reduction targets

Senior plc ("Senior"), an international manufacturer of high technology components and systems, announces its ambitious emissions reduction targets have been approved by the Science Based Targets initiative ("SBTi"). These targets are aligned with The Paris Agreement's stretch objective to limit climate warming to 1.5degC.

Senior is the first company in the global Aerospace & Defence sector to have its emissions reduction targets independently verified and approved by the SBTi. The targets covering GHG emissions from Senior's operations are consistent with reductions required to limiting climate warming to 1.5degC. The Paris Agreement's long-term temperature goal is to keep the increase in global average temperature to well below 2degC above pre-industrial levels; and to pursue efforts to limit the increase to 1.5degC, recognizing that this would substantially reduce the risks and impacts of climate change.

SBTi have approved the following targets:

-- Senior commits to reduce its absolute Scope 1 and 2 GHG emissions by 30% by 2025 compared to a 2018 base year

-- For Scope 3 GHG emissions, Senior also commits that 80% of its suppliers by spend, covering purchased goods and services and capital goods, will have science-based targets by 2025

In the SBTi's target assessment report, Senior's Scope 1 and 2 targets were considered ambitious.

David Squires, Group Chief Executive of Senior plc said:

"We are delighted with this recognition by the SBTi, which demonstrates our long-standing commitment to help minimise global warming. We are the first company worldwide in the Aerospace & Defence industry to have approval for targets which are consistent with reductions required to limit climate warming to 1.5degC, and we will actively encourage others to follow suit."

Jonathan Sykes, Executive Chairman at Carbon Intelligence who worked with Senior plc, said:

" As the first company in the Aerospace & Defence sector to align a science-based target with 1.5C, Senior plc is in a position of leadership. The engineering & manufacturing firm has set ambitious carbon reduction targets through its suppliers as well as its own operations and the resulting actions will help its customers meet their own goals."

About the Science Based Targets initiative

The Science Based Targets initiative mobilizes companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World-Wide Fund for Nature and one of the We Mean Business Coalition commitments. The initiative 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.

CDP Climate is the world authority on the evaluation of corporate carbon policies and reporting.

About Senior

Senior is an international manufacturing group with operations in 13 countries. It is listed on the main market of the London Stock Exchange (symbol SNR). Senior designs, manufactures and markets 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

 
 Further information 
 Richard Webster-Smith    Finsbury    [phone] 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRARTMPTMTBTBMM

(END) Dow Jones Newswires

July 23, 2020 02:00 ET (06:00 GMT)