Company Announcements

21 October 2021

Victrex plc

Victrex signs up to Science Based Target initiative (SBTi) as part of 2030 net zero goal

Victrex plc, an innovative world leader in high performance polymer solutions, delivering sustainable products which support CO₂ reduction and bring environmental and societal benefit, has today announced its commitment to the Science Based Target initiative (SBTi), in addition to its 2030 carbon net zero goal¹.

As part of its commitment to SBTi, Victrex has joined the Business Ambition for 1.5°C campaign - the world's largest and fastest-growing group of companies - that are aligning with 1.5°C and helping to halve global emissions by 2030.

Victrex's commitment follows on from its enhanced ESG (Environmental, Social & Governance) strategy launched in 2020, which includes its 2030 net zero goal and targets relating to minimising use of resources including energy, water and waste. Its ESG goals also include increasing the proportion of sustainable products as a percentage of its portfolio, and enhancing its programme on diversity & inclusion, and social responsibility. 

Jakob Sigurdsson, Chief Executive of Victrex, said: "This is further evidence of Victrex's strong and long-term ESG commitment and the positive impact we are seeking to make to the environment and society."  

"Our commitment to a science-based target for emissions is in line with climate science and also builds on the role our materials have played over many years in helping to bring environmental & societal benefit in a number of end markets.  This includes supporting light-weighting and CO₂ reduction in Aerospace & Automotive, and clinical benefit in Medical.  We continue to further enhance our ESG strategy and expect to set out additional goals in our 2021 Annual Report."

Victrex recently received a Gold sustainability rating from EcoVadis, one of the world's leading sustainability rating agencies.

A full list of companies involved in SBTi can be found at sciencebasedtargets.org.

Notes:

1.    Victrex's 2030 carbon net zero goal, launched in 2020, focuses on its Scope 1 & 2 emissions.  As part of its commitment to SBTi, a science-based target will also include reporting on Scope 3 emission segments.

Enquiries:

Victrex plc:

Andrew Hanson, Director of Investor Relations & Corporate Communications        +44 (0) 1253 898121

                                                                                                                                   +44 (0) 7809 595831

Jakob Sigurdsson, Chief Executive                                                                             +44 (0) 1253 897700

Richard Armitage, Chief Financial Officer                                                                  +44 (0) 1253 897700

About Victrex:

Victrex is an innovative world leader in high performance polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy, Electronics and Medical. Every day, millions of people rely on products or applications which contain our sustainable materials, from smartphones, aeroplanes and cars to oil & gas operations and medical devices. With over 40 years' experience, we are moving beyond the polymer into semi-finished and finished products which shape future performance for our customers and our markets, provide environmental and societal benefit for customers and drive value for our shareholders. Find out more at www.victrexplc.com