21 June 2021
Biffa reports excellent progress against its sustainability targets
£1bn of investment in UK green infrastructure already unlocked - well ahead of plans
Biffa plc ('Biffa', 'the Group' or 'the Company') (LSE: BIFF), has today published its first sustainability report, one year on from the launch of its long-term sustainability strategy 'Resourceful, Responsible.'
The report reaffirms the Group's ambitious sustainability targets as part of its wider commitment to helping solve the UK's waste challenge.
| Key progress highlights |
|
· Group well on track to achieving target of unlocking £1.25bn of much needed investment in UK green economy infrastructure by 2030 with £1bn already realised. |
| · Group announces pathway to achieving net zero emissions, no later than 2050. |
|
Building a circular economy |
|
· Doubled the Group's plastics recycling capacity with investments in its facilities in the North East. |
| · Established the Group's position as a leader in UK surplus redistribution through the acquisition of Company Shop Group, enabling a unique circular economy proposition for customers and providing support for the communities most in need. |
| · Newhurst and Protos energy from waste ('EfW') construction projects commenced and on track - underpinning UK's capability to domestically manage its own non-recyclable waste. |
|
Tackling climate change |
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· On track to reduce greenhouse gas emissions by 50% by 2030, having reduced emissions by 70% since 2002. |
| · Significant progress in creating the UK's lowest carbon waste collection service through an active M&A programme, reducing carbon intensity of services and positioning the Group to transition to alternative fuels. |
| · Roll out of UK's first fully electric fleet of electric refuse vehicles on behalf of Manchester City Council. |
| · Expansion of rail network to replace road haulage for the movement of inert waste, helping to save over 12,000 tonnes of CO2 emissions since 2019. |
|
Caring for our people, supporting our communities |
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· £13.9m spent since 2019 on local community projects, through the Biffa Award fund, which include important biodiversity initiatives to help protect endangered wildlife species in the UK. |
| · Further improvement in employee engagement despite the challenges of the pandemic, with engagement score growing to 59%, 3pps above the UK average. |
| · Continued roll out of successful Diversity and Inclusion programme, launching first Women in Waste group to better attract, support and develop women at Biffa. |
'Resourceful, Responsible' was first published in March last year, outlining Biffa's ambition to drive the sustainability agenda within the UK waste management space for the next ten years. The strategy is aligned to Biffa's strategic framework and fully underpinned by the Group's clearly defined investment plans: Reduce, Recycle, Recover and Collect. As previously outlined, it will see the Group unlock £1.25bn of much needed investment in the UK green economy infrastructure by 2030.
For increased transparency, the Group has also reported against the TaskForce on Climate-Related Financial Disclosures (TCFD), the Sustainability Accounting Standards Board (SASB) the Global Reporting Initiative (GRI), the Science Based Targets initiative (SBTi) and the UN Sustainability Development Goals (SDGs), to which the sustainability strategy is closely aligned.
A path to Net Zero emissions by 2050
In March 2020, Biffa pledged to build on the significant progress it had made in recent years to decarbonise its services, which had seen the Group reduce its CO2 emissions by 70% since 2002, targeting a further 50% reduction in emission to 2030.
The Group remains on track to meet this commitment and for the first time has today set out a path in the report to achieving net zero emissions no later than 2050.
Commenting on the report Michael Topham, Chief Executive of Biffa, said:
"We have accelerated our sustainability programme despite the challenges posed by Covid-19, with meaningful delivery across a range of areas. The waste industry plays a critical role in shaping a better future for our communities and the environment. As part of our commitment to delivering on our ambitious plans Biffa has committed to unlocking £1.25bn investment in vital UK green infrastructure and I'm delighted to have already realised £1bn of that commitment, well ahead of plan.
"Biffa has a defining and important role to play in delivering more sustainable solutions to help combat the waste challenge. I'm proud of this progress but we cannot be complacent and remain fully focussed on strengthening our commitment to delivering more circular solutions for our customers and wider society."
You can read the full 2021 sustainability report here.
ENQUIRIES:
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Michael Topham, Chief Executive Officer or Richard Pike, Chief Financial Officer
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0204 529 0549
biffa@houston.co.uk
About Biffa
Biffa is the UK's leading sustainable waste management company and has been at the forefront of the UK's waste industry for more than a hundred years.
Our operations span the breadth of the waste management process including collection, reuse, recycling, treatment, disposal and energy generation. We're the largest manager of business waste in the UK and our team of over 8,000 employees collect, recycle and recover waste from 95% of UK postcodes.
Our purpose is 'to change the way people think about waste'. Sustainability is therefore right at the heart of our business. We have made huge strides in our sustainability journey by investing in much-needed green economy infrastructure and low carbon collections, leading to a 65% reduction in our carbon emissions since 2002. Our sustainability strategy 'Resourceful, Responsible' focuses on the key areas where we know we can make a difference: building a circular economy, tackling climate change and caring for our people, supporting our communities.
Put simply, our people matter. We are an industry leader in health, safety and wellbeing as well as putting diversity and inclusion front and centre of our culture. We're also keen to give back and improve the waste management sector. Our Biffa Award programme supports sustainable projects in the UK and our long-standing relationship with WasteAid supports third world countries with managing their waste more sustainably.
Biffa is a Great British Company listed on the FTSE 250 index of the London Stock Exchange. That's just a bit about us. To find out more, visit: www.biffa.co.uk/investors
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