16th Mar 2020 10:44
(Alliance News) - Biffa PLC on Monday set out its long-term sustainability strategy entitled 'Resourceful, Responsible'.
The waste management company said the new strategy builds on its long track-record of making a positive contribution to the environment and to the communities in which it operates. It also outlines Biffa's ambition to drive the sustainability agenda within the UK waste management space for the next ten years.
Under the plan, Biffa said it intends to further improve its capability to support its customers' recycling efforts, by helping to unlock an estimated GBP1.25 billion of much-needed investment in UK green economy infrastructure by 2030. This will be achieved principally through expanding the company's low-carbon collection business, Biffa said, quadrupling its plastic recycling capability and developing energy-from-waste infrastructure.
Biffa has also pledged to continue building on the progress that it has made in recent years to decarbonise its services, which have already seen the company reduce its CO2 emissions by 65% since 2002, it claimed. Biffa said it is targeting a further 50% reduction in emissions by 2030.
"'Resourceful, Responsible' fully supports our strategic growth plans and long-term vision, defining the important role Biffa can play in delivering more sustainable solutions to help combat the UK's waste challenge," said Chief Executive Michael Topham.
"We look forward to reporting on our progress in the coming years as we deliver this plan and the exciting investment opportunities that it presents to our business," added Topham.
Biffa shares were trading 7.2% lower in London on Monday at 232.00 pence each.
By Evelina Grecenko; [email protected]
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