Plus   Neg

Severn Trent To Invest GBP 1.2 Bln For Sustainability Commitments

Severn Trent Plc (SVT.L), a UK-based water and waste water company, announced Wednesday its plan to invest 1.2 billion pounds to deliver sustainability commitments for the future.

In its Capital Markets Day, the company revealed a number of ambitious commitments for a sustainable long-term future for its business.

The company plans to deliver Triple Carbon Pledge of Net Zero emissions, 100 percent energy from renewable sources and 100 percent electric fleet, all by 2030.

Further, the company will develop science based targets with real reductions in carbon across scope 1, 2 and 3 emissions.

The company plans to achieve 100 percent renewable energy target by April 1, 2020 with over 50 percent coming from self- generation and the balance purchased through REGO-backed renewable sources.

From now on, the company will purchase only electric cars, while it will buy only electric vans from 2023.

Liv Garfield, Chief Executive of Severn Trent, said, "By committing to invest £1.2 billion in the next five years we believe we can make a real difference to the environment and people we serve while delivering strong business outcomes at the same time."

In London, Severn Trent shares were trading at 2,638 pence, up 1.70 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, the founder and CEO of Space Exploration Technologies, or SpaceX, said the aerospace company is planning to list its space internet venture, Starlink, after many years when revenue growth is smooth and predictable. In a tweet, Musk said, "We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic It's again that day of the year when coffee lovers celebrate their passion for the caffeinated beverage. It is National Coffee Day today in the U.S. when major food and beverage outlets nationwide promote the coffee culture with deals for coffee fans. In the U.S., major coffee outlets such as Starbucks, Dunkin' Donuts, Wawa, Krispy Kreme, Wendy's and Panera Bread give away free cups of coffee. The state of Ohio ordered General Motors to repay $28 million in tax credits after closing the Lordstown plant, which was in agreement to be operated until 2040. The Ohio Tax Credit Authority said the closure violated the terms of two economic development agreements signed by the company. In separate development, GM announced it is investing $71 million in two other Ohio manufacturing facilities.
Follow RTT