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RNS Number : 0582V
Kingspan Group PLC
12 April 2021
Kingspan Group Plc
Kingspan launches inaugural Planet Passionate Sustainability
Report
12 April 2021
Global building industry leader Kingspan has today published its
inaugural "Planet Passionate" Sustainability Report, reviewing the
first year of progress in the 10-year strategy it launched in
December 2019.
The report outlines Kingspan's industry-leading decarbonisation
programme, which targets a reduction in manufacturing carbon (CO(2)
e) emissions to as close to zero as technically possible, together
with halving carbon intensity in its primary supply chain.
In the first year of its strategy, Kingspan met the goal it set
in 2011 to achieve Net Zero Energy by 2020 [1] , the first leg of
its journey to decarbonise. Now the primary focus is on absolute
decarbonisation of both its own operations (Scope 1 and 2
emissions) and its suppliers (Scope 3 emissions).
In 2020 Kingspan reduced emissions from operations by 5.2%, a
first step towards net zero carbon manufacturing by 2030 with the
intention of reducing absolute emissions to the lowest possible
level. This will require transformation of Kingspan's processes
across its existing 166 manufacturing sites while supporting newly
acquired businesses to decarbonise as quickly as possible.
Kingspan has also committed by 2030 to reduce the carbon
intensity of its primary raw materials by 50%. This will reduce the
embodied carbon in Kingspan's products and further enhance the
significant carbon savings that Kingspan products already deliver
by reducing energy consumption in buildings. Insulation products
sold by Kingspan in 2020 will save an estimated 164m tonnes of
CO(2) e over their lifetime.
Kingspan has also been at the forefront of green finance,
issuing the largest ever corporate Green Private Placement to raise
EUR750m in September 2020 which will be used to support its mission
of accelerating a net-zero-emissions built environment with
advanced insulation and building envelope solutions. The company
also raised a further EUR50m Green Loan to fund specific Planet
Passionate initiatives.
P lanet Passionate is made up of 12 ambitious targets,
addressing the impact of Kingspan's business operations and
manufacturing on four key areas of energy, carbon, circularity and
water. Kingspan's 2020 Planet Passionate highlights include:
-- Energy : 29 GWh of energy generated from renewable sources on
its own sites in 2020, representing 4.9% of total energy use and a
5-fold increase in on-site generation since 2012.
-- Carbon : 5.2% reduction in absolute Scope 1 & 2
greenhouse gas emissions; conversion of 11% of annual replacement
cars to zero emissions cars.
-- Circularity : 573m plastic (PET) bottles recycled into
insulation manufacturing processes - placing Kingspan on track to
upcycling 1 billion PET bottles per annum by 2025; achievement of
net zero waste to landfill by Kingspan's Tate business in 2020.
-- Water: 21m litres of Kingspan's water usage harvested from rainwater.
Gene Murtagh, CEO of Kingspan said:
"Our Planet Passionate targets demand radical thinking and
action. Our aim is to get as close to zero emissions in our
manufacturing as technically possible by transforming our
processes. Industry has a vital role to play in addressing the
threat of climate change, and we are proud to have achieved a 5.2%
reduction in our carbon emissions in the first year of this plan.
Our target of halving the carbon intensity of primary raw materials
used in our supply chain will also lower the embodied carbon in our
products, and consequently the whole life carbon of buildings."
Bianca Wong, Global Head of Sustainability at Kingspan, said
:
"In 2011 Kingspan Group set an incredibly ambitious target for
our global operations to achieve Net Zero Energy by 2020, and we
have delivered this as a first major milestone in our Planet
Passionate plan. This programme helped build essential knowledge,
structures and commitment within the business, which are all
critical to achieving the next phase of our decarbonisation journey
by 2030. "
Kingspan has joined over 1,200 companies worldwide in committing
to the Science Based Targets Initiative (SBTi), setting verified
targets in 2018.
Kingspan leadership on sustainability issues was also recognised
in 2020 through its position on the Climate "A" List for a fourth
year by CDP, the international not-for-profit that measures the
environmental impact of thousands of companies around the world.
The company was also recognised by CDP as a Supplier Engagement
Leader in 2020, placing them among the top 7% of the 8,400
companies assessed for supplier engagement on climate change [2]
.
During 2020, Kingspan's new LIFECycle product circularity
framework was launched, which will be used to both evaluate and
drive circularity in Kingspan's products. Using LIFECycle, Kingspan
is co-creating new concept products with suppliers with plans to
launch pioneering circular insulation solutions in the near
future.
This year's Planet Passionate Annual report also updates that an
innovative chemical recycling solution has been proven at
laboratory scale for end-of-life QuadCore(TM) insulated panels and
PIR insulation boards, and announces plans to open two recycling
hubs using this technology to facilitate take-back and reprocessing
of site-waste and end-of-life products later in 2021.
View the full version of Kingspan's Planet Passionate
Sustainability Report at:
https://viewer.ipaper.io/kingspan/planet-planet-passionate-annual-report/
For further information, please contact:
-- Doug Keatinge, dkeatinge@murraygroup.ie , 086 0374163
-- Jackie Phelan, jphelan@murraygroup.ie , 083-8597874
(1) Kingspan's Net Zero Energy definition: Achieving Net Zero
Energy means matching 100% of our operational energy use through
the use of renewable energy and the purchase of renewable energy
certificates to offset any remaining non-renewable energy use.
[2] Supplier Engagement Leaderboard full report at:
https://www.cdp.net/en/research/global-reports/transparency-to-transformation#supplier-engagement
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