Company announces new carbon reduction commitments in bid to reach net zero by 2040
IBSTOCK plc, a leading UK manufacturer of clay bricks and concrete products, have announced ambitious new carbon reduction commitments, including a target for the business to be net zero by 2040.
Having substantially achieved their existing goal of a 15% reduction in CO2 per tonne of production, the Group has established new, more stretching targets to achieve a 40% reduction by 2030, and a commitment to become net-zero carbon by 2040.
This ambitious new net-zero commitment will cover scope 1 and 2 emissions – including investment in more efficient production processes and in high-quality environmental projects to offset residual carbon. A strategy to reduce indirect Scope 3 carbon emissions, which contribute less than 40% of the business impact, will be developed in 2022.
These new targets build on the Group’s existing sustainability roadmap commitments, creating a framework of targets and critical milestones at the centre of a new 2030 sustainability strategy. Full details of the new sustainability strategy and net zero journey will be published in March 2022, as part of the Group’s 2021 results announcement.
Chief executive officer Joe Hudson commented: ‘Whilst we know we have much more to do, I am delighted that we are making progress on our commitments and are able to announce further carbon reduction targets in such an ambitious time frame.
‘These new carbon commitments, including our pledge to be net zero by 2040, represent a bold step on our journey to address climate change and move the business into the low-carbon economy.
‘I am proud of our colleagues across the business who are driving forward our sustainability agenda and securing its place at the core of our purpose as a business and I look forward to presenting further details on our ambitions and targets in March 2022.’