Spirax-Sarco 'refreshes' sustainability strategy with net-zero and biodiversity goals
Engineering firm Spirax-Sarco has 'refreshed' its sustainability strategy, unveiling new pledges towards net-zero greenhouse gas emissions, biodiversity and waste management.
In September, Spirax-Sarco pledged to reach net-zero greenhouse gas emissions by 2040. This will see the company source 50% of its electricity from renewable sources by 2030 as well as establishing a biodiversity net-gain target in the same timeframe.
The target also included pledges to source 50% of electricity from renewable sources by 2030, extend reporting to include Scope 3 (indirect) emissions and place emissions into boardroom accountability.
The company has this week refreshed this strategy. Now, Spirax-Sarco will aim to reach net-zero emissions across Scope 1(operations) and 2 (power-related) by 2030.
Spirax-Sarco which employs 8,000 people across 68 countries worldwide, will also attempt to improve biodiversity across its operations. A biodiversity net gain of 10% will be delivered across direct operations by 2025.
Additional targets of the refreshed sustainability strategy include sending zero waste to landfill by 2025, improving standards across the supply chain and delivering growth in sales of products with quantifiable sustainability benefits. A target for sales growth remains undefined.
Spirax-Sarco’s group chief executive Nicholas Anderson said: “The world’s challenges are global and complex. By operating responsibly and working with our stakeholders to engineer a more efficient, safer and sustainable world, we aim to make a difference. Our new strategy has been developed with input from more than 600 people, it is evidence-based and focuses on initiatives that will create lasting impact for us and the wider world.
“Our strategy addresses how we source materials to how we develop, manufacture and sell our products. It also focuses on creating sustainability benefits for our customers and prioritises the way we support our communities. We are investing in sustainability across our Group, building on a legacy of responsible business operations, working ethically and safely, as well as creating inclusive environments where diversity can thrive. Across our Group, we will support each other and work with our customers, suppliers and communities to drive meaningful and positive change.”
The business guide to net-zero carbon reporting
The past 12 months have seen thousands of businesses announce net-zero strategies in line with national targets and in response to increased stakeholder pressure. So, what exactly makes a credible net-zero strategy, and - crucially - how should businesses be measuring and reporting their climate impacts to deliver decarbonisation at scale?
Inspired by edie’s award-winning Mission Possible: Net-Zero Carbon campaign, The Business Guide to Net-Zero Carbon Reporting provides a much-needed breakdown of how organisations can measure and report their impacts on the climate, along with the potential impacts of the climate emergency on their own operations, now and in the future.
Produced in association with Carbon Intelligence, the report will provide this insight through the lens of the Task Force on Climate-Related Financial Disclosures (TCFD) and science-based targets – two business-critical enablers of the net-zero carbon transition. The document also features real-life case studies on either enabler, from Britvic and Burger King respectively.