Ferrexpo PLC Publication of Climate Change Report (9910I)
08 Dezember 2022 - 8:00AM
UK Regulatory
TIDMFXPO
RNS Number : 9910I
Ferrexpo PLC
08 December 2022
8 December 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Publication of Climate Change Report
Ferrexpo plc (LSE: FXPO), a producer and exporter of high grade
iron ore pellets to the global steel industry, is pleased to
announce that its inaugural standalone Climate Change Report has
been published today, which is available for download from the
Ferrexpo website ( Results, Reports and Presentations | Ferrexpo
).
The Group's Climate Change Report details a number of climate
change related risks and opportunities relevant to the Ferrexpo
business, the Group's greenhouse gas emissions footprint, and a
potential decarbonisation pathway to achieve net zero iron ore
pellet production by 2050.
Following the work completed as part of this report, the Group
is also able to announce an updated carbon emissions target of a
50% reduction by 2030 for Scope 1 and 2 emissions, following the
achievement of a 30% reduction recorded across 2019 and 2020
combined(1) . The report also introduces new Scope 3 emissions
reduction targets for Ferrexpo, setting 10% as a goal for reducing
this category of emissions by 2030, and a 50% target for 2050(2)
.
The publication of this report represents the latest stage in
Ferrexpo's decarbonisation journey, providing an increased level of
understanding of climate change related topics for the benefit of
all the Group's stakeholders.
Jim North, Chief Executive Officer of Ferrexpo, commented:
"Our inaugural Climate Change Report represents the culmination
of an initial phase of work looking in detail at climate change
topics such as climate change risks and opportunities, as well as a
bespoke study of one potential decarbonisation pathway for the
Group, achieving net zero production by 2050. Despite the impact of
the ongoing war on businesses like ours operating in Ukraine, I am
pleased that we are able to present a clear strategy for the long
term future of our business, showing the significant opportunity
that lies ahead through Ferrexpo producing an iron ore product that
helps the global steel industry lower its emissions."
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Emily Moss +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
((1) Scope 1 and 2 emissions targets and past performance are
presented here on a combined Scope 1 and 2 basis, per unit of
production. (2) Scope 3 emissions reduction targets for 2030 and
2050 are presented on a per tonne of production basis.)
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 50 years, and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's third largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
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