News Item: Travis Perkins Announces New Carbon Target Emissions
Travis Perkins plc, the UK's largest provider of building materials and equipment, has announced a commitment to a new 1.5 degree-aligned carbon target by 2035. This is consistent with the 1.5 degree pathway of the 2016 Paris Agreement to limit global warming.
For Scope 1 and 2 carbon, which primarily applies to the decarbonisation of the Group's fleet, this target will involve an 80% reduction and a net zero commitment to offset any remaining Scope 1 & 2 carbon by 2035.
For Scope 3 carbon, this target will involve a 63% carbon reduction in the Group's supply chain emissions by 2035, and primarily apply to the purchasing of goods and services; concrete products, bricks and plasterboard in particular, and the in-use emissions of goods sold; especially gas heating and power tools.
Today's announcement builds on the progress Travis Perkins has made to date by reducing Scope 1 & 2 carbon intensity (per £million sales) by 45% since 2013.
"Climate change concerns us all, and we are committed to leading on this agenda and to meeting the growing expectations from our colleagues, customers, shareholders and the public to play our part by setting challenging, but achievable targets," explained CEO for Travis Perkins plc, Nick Roberts.
"The decarbonisation of our business is part of our Building for Better framework, and one of the key areas we are focusing on to build resilience in the business. Beyond our own business, we are also in a unique position to influence our supply chain and the wider UK construction industry, so we are looking forward to working with our suppliers and customers to reduce our own carbon footprint while driving better behaviours across the industry more widely," Nick continued.
The carbon target announced today is pending Science Based Targets initiative approval, and has been developed by the Travis Perkins Board and Group's Leadership Team in conjunction with carbon consultancy, South Pole, and in line with the Science Based Targets initiative methodologies.
Travis Perkins will publish a carbon reduction roadmap with key milestone targets later this year. This will include the transition of the company's commercial fleet to low and no carbon options, and the decarbonisation of its estate and engagement and commercial plans around the Group's supply chain carbon.