TIDMSMS
Smart Metering Systems PLC
28 July 2021
RNS REACH
28 July 2021
Smart Metering Systems plc
Progress on ESG initiatives
Smart Metering Systems plc (AIM: "SMS", "the Group"), the fully
integrated energy infrastructure company owning and managing meter
assets, energy data, grid-scale batteries and other carbon
reduction ("CaRe") assets, today provides an update on the progress
made against its Environmental, Social and Governance ("ESG")
initiatives during the six months to 30 June 2021 ("H1 2021").
The safety of our people is integral to SMS operations and over
the last 18 months this has never been more critical. We are
incredibly proud of the dedication and commitment shown by our
colleagues to help transition the UK towards a net zero economy
throughout this challenging period.
ESG leadership is at the core of our business as we seek to
realise our purpose, "to serve our customers and protect our
environment". We are dedicated to helping our customers reduce
their carbon emissions and committed to achieving net zero in our
own business by 2030. SMS's CaRe products and services are critical
to achieving a cleaner and resilient future energy system.
During H1 2021, we continued to make strong progress in each
aspect of 'E', 'S' and 'G':
Environmental:
In 2020, SMS announced its ambitious plan to be net zero (Scope
1 and 2) by 2030, and carbon negative beyond. We also provided a
roadmap to achieving those targets and published our inaugural ESG
report ( Sustainability report ). The report outlines our ESG
plans, objectives and progress, and is our flagship ESG
disclosure.
We are also pleased to provide an update on the progress made
during the first half of 2021:
-- In the first half of 2021 our Scope 1 and Scope 2 emissions
fell by 31% when compared with the first half of 2019. Although
during the period emissions rose 17% compared to H1 2020, this
comparison is distorted by the impact of Covid-19.
-- Carbon emissions avoided through the use of our products and
services increased 74% in H1 2021, compared to H1 2020, resulting
in an 11x positive impact versus our carbon footprint (H1 2020
& H1 2019: 8x).
-- SMS's vehicle fleet represented 88% of the Group's total
carbon emissions in H1 2021 with the remaining 12% originating from
buildings. The Group continued actively to address each of these
two areas to reduce our carbon emissions footprint:
o More than 90% of company cars were transitioned to plug-in
hybrid
o Commenced replacement of our van fleet to plug-in hybrid. The
real-world performance of our trial hybrids will be evaluated ahead
of a wider, full fleet replacement with significant proportion of
the Group's fleet expected to be either plug-in hybrid or fully
electric over the course of 2022 and 2023.
o Office upgrades commenced focused on renewable power and
energy efficiency, including air source heat pumps for water
heating and solar PV for renewable electricity.
Social:
SMS continued to build on its established social and community
initiatives, whilst launching a series of new initiatives during H1
2021.
-- SMS is now a signatory of the Business in the Community Race
at Work Charter, which means the Group is taking practical steps to
ensure that its workplaces are tackling barriers that ethnic
minority people face in recruitment and progression.
-- The Group has become a Level 3 Disability Confident Leader,
the highest level possible. There are six million people of working
age in the UK with a disability and achieving Disability Confident
Leader Status will assist SMS in supporting that talent pool.
-- SMS also launched several initiatives to support local
communities and biodiversity efforts whilst constructing grid-scale
battery projects. For instance, on the Barnsley site, the Group has
commenced community engagement and also planting new hedgerows and
trees. On the Burwell site, SMS is sponsoring a local football
team.
Health and Safety:
The health and safety of our employees, customers and partners
is of utmost importance to SMS. We have invested significantly in
Safety, Health, Environmental and Quality ("SHEQ") over the past
years which is making a very effective contribution to the
business. "SHEQ" ownership across the business is at a high level
and is driving a culture of engagement, bringing ideas for
improvements across the organisation, including:
-- YTD zero reportable injuries and the Accident Frequency Rate
(AFR) per 100,000 hours worked is 0.05 which is close to the target
of 0.04.
-- Lost Time Injury Frequency Rate (LTIFR) per 100,000 hours
worked is 0.14 which is ahead of target 0.15.
Governance:
The Group continued to place appropriate resources, targets,
monitoring and governance to fulfil its obligations to
shareholders, employees, customers and wider society. We have
established a dedicated board subcommittee for Health, Safety,
& Sustainability headed by our Chair Miriam Greenwood, ensuring
that ESG is embedded into every level of decision making. This
committee sits alongside our other Board committees of Audit,
Remuneration and IT. Our commitment to strong corporate governance
was reflected in us receiving the highest scoring range from MSCI
when compared with our global peers in 2020.
-- With our completion of the annual CDP submission in July, we
align with the key requirements under TCFD (Taskforce for
Climate-related Financial Disclosure) of climate-related
governance, strategy, risk management, metrics and targets.
-- The Group successfully concluded the ISO50001 external audit
process and is currently undergoing an external audit on Integrated
Management System (IMS). This process covers ISO9001 in Quality
Management System (QMS), ISO14001 Environmental Management System
(EMS) and ISO45001 Occupational health and safety management
systems.
Ratings and certifications:
SMS has been recognised with the London Stock Exchange's Green
Economy Mark (the "Mark") every year since it was introduced in
2019. The Mark identifies London-listed companies and funds that
generate more than 50% of total annual revenues from products and
services that contribute to the global environmental objectives,
such as climate change mitigation and adaptations, waste and
pollution reduction, and the circular economy.
The Group also continued its engagement with the existing and
new ESG rating agencies and made positive progress in overall
scoring. MSCI's weighted average performance improved from 6.3 to
6.6 (on scale of 10) and Sustainalytics risks rating reduced from
27.8 to 26.6 (on scale of 0-50).
For further details, please contact:
Dilip Kejriwal Charlotte Gregory
Investor relations Head of Sustainability
dkejriwal@sms-plc.com Charlotte.Gregory@sms-plc.com
Notes to Editors
Smart Metering Systems plc (www.sms-plc.com) is the fully
integrated energy infrastructure company owning and managing meter
assets, energy data, grid-scale batteries and other carbon
reduction (CaRe) assets. The Group manages and optimises these
assets through its in-house technology and data analytical platform
"METIS".
Established in 1995, SMS provides a full end-to-end service,
from funding and installation to management and maintenance, with a
highly skilled workforce, deep engineering expertise and
well-established industrial partnerships.
SMS is leading the low carbon, smart energy revolution in the UK
and is committed to reducing its own carbon emissions to net zero
by 2030. SMS has been recognised with the London Stock Exchange's
Green Economy Mark every year since it was introduced in 2019.
SMS plc is headquartered in Glasgow with a national presence
across twelve UK locations.
SMS's shares are listed on AIM.
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