Weir Group PLC (LON:WEIR), a global leader in mining technology, has received confirmation from CDP that it has retained its place on the ‘A-list’ for leadership in corporate transparency and performance on climate change in 2024. The A score reinforces that Weir is among companies that are leading the way in cutting emissions, mitigating climate risks and contributing to the low-carbon economy. It is testament to the strong focus and excellent work of our teams around the world in executing our sustainability strategy.
Our role in supporting a low-carbon future
Recognising the vital role the mining industry plays in providing the critical metals and minerals needed to power a low-carbon future, Weir continues to drive innovation and collaboration. As a provider of innovative technologies to help the world’s mining industry scale up production and lower environmental impact, we are evolving our climate strategy to support decarbonisation of the value chains for producing those metals and minerals.
Evolving our climate strategy and transition plan
Our aim is to align our business to a net zero future that we help to enable by:
· Driving emissions within our operational control to net zero by 2050
· Ensuring our business strategy aligns with supporting customers to decarbonise their operations
· Engaging our suppliers to decarbonise our upstream supply chain
Our scope 1-3 emissions are dominated by the energy used to power Weir’s technology on customers’ mine sites and the source of that energy is outside our control. As such, we have identified four key strategic priorities to catalyse action to help deliver our transition plan and support decarbonisation of key minerals value chains.
1. Energy efficiency: we’re innovating transformational energy-efficient mining technology solution offerings across the mining value chain and robustly quantifying avoided emissions. Our first avoided emissions study has been showcased by the World Business Council for Sustainable Development (WBCSD) as a case study.
2. Secure, affordable, clean energy supply for mining regions: we are advocating for action to provide secure supplies of low-carbon energy at competitive prices to key mining regions and communities.
3. Water: we’re developing tailored, end-to-end technology solutions that use water wisely and help customers reduce water consumption, reduce pollution risks and minimise waste.
4. Reframing climate targets: our near-term 2030 carbon targets are SBTi approved and we are making good progress on reducing emissions from our own operations (scope 1&2). We are seeking reform of SBTi standards to incentivise hard-to-abate sectors, such as metals and mining, to align with net zero.
We will publish a full update of our evolved climate strategy and transition plan by the end of 2025.
Commenting on Weir’s ‘A’ score and our evolving approach to climate strategy, Jon Stanton, CEO of Weir said:
“We are pleased to retain our place on the A-list which is validation of our actions to make mining more sustainable, both inside Weir, and for our customers. Beyond bringing innovative technology to the hard-to-abate mining sector, we are also taking a broader role in driving transformational change through innovation and collaboration across the value chain. We need to work together if we are to meet the ever more urgent need for the critical metals and minerals required to power a low-carbon future, and Weir is proud to be at the heart of that transformation.”
