Manufacturer accelerates carbon cutting plans
FTSE250 listed built environment specialist Genuit Group plc, formerly Polypipe, has committed to an aggressive plan for carbon reduction which puts it on course for achieving Net Zero by 2050.
The group which recently opened a new head office in Leeds, is one of the largest construction products manufacturers to make the commitment under the UN-backed Science Based Targets initiative (SBTi), as part of the Business Ambition 1.5°C campaign.
In the wake of the government announcing its Net Zero strategy and COP26, Genuit Group is committed to reaching the government’s carbon reduction target by 2030 and is setting course for achieving net zero carbon emissions in the next thirty years.
The Business Ambition 1.5°C initiative is seen as the international gold standard of environmental target setting. It aims to get companies to set carbon emission reduction targets that are in line with the latest scientific guidance.
As part of the SBTi, Genuit Group will publish a set of committed targets, alongside a plan on how it will achieve its goals in May 2022, which will be independently assessed to ensure it will meet the goals of the 2015 Paris Agreement.
The group has already committed to a like for like reduction of 66% in Scope 1&2 CO2 emissions by 2025 without resorting to offsetting.
Martin Gisbourne, group strategy and marketing director at Genuit Group said: “This pledge is only the first step in a journey for Genuit Group. It places us among the first major companies within the construction product manufacturing sector to be operating to meet the very highest standard of science-based assessments.
“The group has committed itself to a more aggressive rate of carbon reduction across all of our businesses and does not rely on carbon offsetting practices.
“At Genuit we have an important role to play in making the built environment more sustainable, so it is imperative we continue to make progress on our journey to become a low-carbon business, as well as delivering solutions to help with the adaptation to climate change.”
Through the use of SBTi assessments, Genuit Group will be able to rationalise a number of active sustainability schemes, pledges and activity into one overarching strategy.
Alberto Carrillo Pineda, managing director of the Science Based Targets initiative, added: “There is no time to lose. The transformation to a net-zero economy is unavoidable. Hundreds of businesses are leading the way by setting ambitious 1.5°C science-based targets. To stand a fighting chance of maintaining a habitable planet, we urgently need more companies to act on climate science and to decarbonize our economy.”
