Ibstock PLC (LSE:IBST) has announced new commitments to reduce carbon emissions, including a target for the business to be net zero carbon by 2040.
The UK manufacturer of brick and clay products had said its target of a 15% reduction of CO2 per tonne of production has now been achieved and as a result a new 40% reduction is now targeted by 2030 and net zero ten years after that.
The company says its net zero commitment will cover scope-one and scope-two emissions and will include investment in more efficient production processes and in high quality environmental projects to offset residual carbon.
A strategy to reduce Ibstock's indirect scope-three carbon emissions, which contribute less than 40% of the business impact, will be developed next year, it said.
The scope of emissions refers to how carbon is produced, with scope-one covering direct emissions from owned or controlled sources, scope-two is indirect emissions from the generation of purchased electricity and scope three includes all other indirect emissions that occur in a company’s production process.
Joe Hudson chief executive officer of Ibstock said, "I am proud of our colleagues across the business who are driving forward our sustainability agenda and securing its place at the core of our purpose as a business and I look forward to presenting our ambitions and targets in March 2022.''