Essentra publishes Climate Transition Plan

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Essentra has launched a Climate Transition Plan since new rules were published on how listed companies had to report in accordance with the Transition Plan Taskforce.

(Image credit: Essentra)

The plan sets outs Essentra’s net-zero emissions reduction targets, and its approach to reducing Greenhouse Gas (GHG) emissions from its operations and value chain. The plan contains the actions, owners, timelines and anticipated costs to make the transition to net-zero.

A key element of the plan is the transition to the use of 100% renewable energy across all of its sites, worldwide by the end of 2030. It also includes a target for 50% of the polymers used in the manufacture of new products will be sustainable by 2030, rising to 100% for its general protection and security seals ranges.

This will be helped by the continued investment into its Centre of Excellence at its UK site which is enabling the trial of materials with lower emissions and improved environmental impacts. It has a longer-term ambition to publish the precise carbon impact of every component within its product range.

The publication of the Climate Transition Plan coincides with the launch of Essentra’s 2023 Annual Report that shows that the business has reduced its scope one and scope two emissions by an impressive 38% since 2019. It also reveals that 94% of all solid waste was diverted from landfill across all operations. Almost 8,000 (7,981) products across its range now have sustainability attributes.

Jennifer Spence, ESG director at Essentra PLC, said: “In our first year as a pure-play components business, we have been able to sharpen our focus on the ESG topics that will drive us towards our goal of building a sustainable future.”

“Our purpose is to help customers build a sustainable future. With our unique business model combining manufacturing and distribution, we are ideally placed to provide a low-carbon service to our customers from design to delivery, and support them through a low-carbon transition.”