TIDMWEIR
Weir Group PLC
13 December 2022
Weir achieves 'A' score from CDP for transparency on climate
change
The Weir Group, a global mining technology leader, is delighted
to announce it has, for the first time, secured a place on CDP's
prestigious 'A List' for its leadership in corporate transparency
and performance on climate change.
The A List recognises companies that are leading the way in
cutting emissions, mitigating climate risks and contributing to the
low-carbon economy. Our 'A' rating in 2022 is an improvement on our
A- score in both 2020 and 2021 and reflects our substantial
progress in executing our sustainability strategy. This
includes:
-- Cutting absolute scope 1 and 2 emissions from our operations by 15% between 2019 and 2021.
-- Sharing our strategies to respond to the risks and
opportunities presented by climate change, as part of a
comprehensive Task Force on Climate-related Financial Disclosures
(TCFD) report.
-- Committing to new, more ambitious SBTi-aligned targets to
reduce our absolute scope 1 and 2 CO(2) e emissions by 30% and
absolute scope 3 CO(2) e emissions by 15% across operations and
value chain by 2030, versus a 2019 baseline. The targets have been
submitted for review and validation by SBTi .
-- Publishing the results of our first scope 3 CO (2) e
emissions study which showed that 97% of Weir's emissions come from
scope 3 emissions from our products in use by our customers.
Weir is a leading supplier of innovative, highly engineered
technology to the world's mining industry and with a large
proportion of our total emissions falling within scope 3, our
biggest contribution to tackling climate change will come from
providing sustainable solutions for our customers.
Commenting on Weir's A score, Jon Stanton, CEO said:
"Achieving a place on CDP's 'A List' validates our purpose to
enable the delivery of the natural resources essential to create a
better future for the world and reflects our strong commitment to
making mining smart, efficient and sustainable. It recognises the
tremendous effort of teams across Weir to cut emissions in our own
facilities, help our customers achieve their sustainability
ambitions and support our stakeholders' understanding of our
business' contribution to managing climate change."
Find out more about how we are making mining smart, efficient
and sustainable at
www.global.weir/investors/capital-markets-event-december-2022
Read our TCFD report and results of our scope 3 emissions study
in our 2021 Annual Report at
www.global.weir/investors/reporting-centre/
CDP's annual environmental disclosure and scoring process is
widely recognised as the gold standard of corporate environmental
transparency. In 2022, over 680 investors with over US$130 trillion
in assets and 280 major purchasers with US$6.4 trillion in
procurement spend requested companies to disclose data on
environmental impacts, risks and opportunities through CDP's
platform.
Enquiries:
Investors: Edward Pears +44 (0) 141 308 3725
Media: Sally Jones +44 (0) 141 308 3666
Citigate Dewe Rogerson: +44 (0) 207 638 9571
Kevin Smith Weir@citigatedewerogerson.com
-------------------------------
Notes to Editors
The full list of companies that made this year's CDP A List,
together with the full methodology and criteria for the A List, are
available on CDP's website at:
https://www.cdp.net/en/companies/companies-scores
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world's
leading engineering businesses with a purpose to make its mining
and infrastructure customers' operations more sustainable and
efficient. Weir's highly engineered technology enables critical
resources to be produced using less energy, water and waste while
reducing customers' total cost of ownership. The Group is ideally
positioned to benefit from structural trends that support long-term
demand for its technology including the need for more essential
metals to support economic development and carbon transition. The
Group has c.11,000 employees operating in over 60 countries with a
presence in every major mining region of the world. Find out more
at www.global.weir .
Weir's ordinary shares trade on the London Stock Exchange
(ticker: WEIR LN) and its American Depositary Receipts trade
over-the-counter in the USA (ticker: WEGRY).
About CDP
CDP is a global non-profit that runs the world's environmental
disclosure system for companies, cities, states and regions.
Founded in 2000 and working with more than 680 financial
institutions with over $130 trillion in assets, CDP pioneered using
capital markets and corporate procurement to motivate companies to
disclose their environmental impacts, and to reduce greenhouse gas
emissions, safeguard water resources and protect forests. Nearly
20,000 organizations around the world disclosed data through CDP in
2022, including more than 18,700 companies worth half of global
market capitalization, and over 1,100 cities, states and regions.
Fully TCFD aligned, CDP holds the largest environmental database in
the world, and CDP scores are widely used to drive investment and
procurement decisions towards a zero carbon, sustainable and
resilient economy. CDP is a founding member of the Science Based
Targets initiative, We Mean Business Coalition, The Investor Agenda
and the Net Zero Asset Managers initiative. Visit cdp.net or follow
us @CDP to find out more.
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December 13, 2022 02:00 ET (07:00 GMT)
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