Severn Trent ‘progressing well’ with Green Recovery programme
Register for free to receive latest news stories direct to your inboxRegister
Severn Trent’s Green Recovery programme is “creating valuable jobs” as well as delivering on the water group’s environmental ambitions.
The programme has been backed by a £245m equity fundraise and aims to create around 2,500 jobs. Key initiatives include planting more than 1m trees, producing an extra 95m litres of water in a low-carbon way to tackle water scarcity, the creation of bathing-quality rivers, new net-zero water resources and nature-based flood solutions.
Severn Trent says it plans to reduce its baseline carbon emissions by 470,000 tonnes and to fulfil the Get Nature Positive initiative following the COP26.
Financial results revealed the group turnover was £958.2m for the six months to 30 September 2021, up 8%, but it made a post-tax loss of £180m.
Liv Garfield, chief executive of Severn Trent, said: “We’ve made another strong start to the year as we focus on delivering for stakeholders across our region and delivering for customers in the areas that matter most to them, all while driving the financial performance of our business.
“We’ve continued to invest significantly in our network, in our people and to support our strong commitment to the environment. Our environmental ambitions remain at the heart of our company, whether planting over a million trees, reducing our carbon emissions, or producing an extra 95 million litres of water to tackle the threat of water scarcity.
“Severn Trent should be a force for good in our region and I’m delighted our Green Recovery programme is creating valuable jobs, helping support the Government’s levelling up agenda and the broader economic recovery.”
Severn Trent is the official nature and carbon neutral supporter of Birmingham 2022 and it will be responsible for delivering a series of initiatives that help offset the carbon generated by the Commonwealth Games.
It is creating 2,022 acres of forest, as well as 72 tennis-court-sized mini forests, to be built in urban areas across the West Midlands.
Each mini forest will be linked to one of the nations and territories competing at the Commonwealth Games in 2022.