Commended by Carbon Disclosure Project
29 Oct 2012
RNS Number : 7497P
Morgan Crucible Co PLC
29 October 2012
The Morgan Crucible Company plc
29 October 2012
Morgan Crucible commended by Carbon Disclosure Project for carbon performance and climate change disclosure
Morgan Crucible has been commended by the Carbon Disclosure Project (CDP), which represents 655 institutional investors with $78 trillion in assets, for its approach to the disclosure of climate change information and for the action it is taking to reduce emissions and mitigate the risks of climate change.
The Company is one of just seven companies from the FTSE Index featured in CDP's Carbon Performance Leadership Index (CPLI), which highlights FTSE 350 companies that have demonstrated a strong approach to climate strategy and emissions reduction in their CDP responses.
Morgan Crucible is also one of 35 FTSE 350 companies featured in CDP's Carbon Disclosure Leadership Index (CDLI). This index highlights FTSE 350 companies which have displayed a strong approach to information disclosure regarding climate change. Companies are scored on their climate change disclosure and high scores indicate good internal data management and understanding of climate change related issues affecting their company.
Much of Morgan Crucible's production involves the use of high-temperature processes and the Group works to continually reduce energy use and CO2 emissions across its divisions and sites. The Group reports the environmental impact of its energy usage and CO2 emissions relative to revenue, described as energy and CO2 "intensity". During 2011, CO2 intensity was down by 5% compared to 2010, and energy intensity was reduced by 6%. Performance is on track to achieve the Group's target to reduce CO2 emissions intensity due to energy use by 5%.
Both indices, compiled by PwC on behalf of CDP, provide an evaluation tool for institutional investors, based on analysis of the responses to CDP's 2012 questionnaire.
Mark Robertshaw, Chief Executive Officer of Morgan Crucible commented: "As a high-tech global manufacturing company we are delighted to be recognised by CDP as one of the leaders in the FTSE 350 in both carbon-related performance and disclosure. Across Morgan Crucible we are working to minimise our environmental footprint whilst leveraging our advanced materials to help make a positive environmental impact through renewable energies and through our high-temperature insulation and related technologies."
Paul Simpson, chief executive officer of CDP, commented:
"Companies that make the Carbon Disclosure Leadership Index have demonstrated strong internal data management practices for the measurement of greenhouse gas emissions and energy use. They are also giving clear consideration to the business issues related to climate change and their exposure to climate-related risks and opportunities. This is vital to realising greater efficiencies, protecting the business from risk and capitalizing on opportunities."
The FTSE 350 report including names of companies featured in the Carbon Disclosure Leadership Index can be found at www.cdproject.net.
About Morgan Crucible
Morgan Crucible is an advanced materials company that provides technically complex, bespoke solutions to its customers, enabling them to address global trends such as energy demand, healthcare and environmental sustainability. It has a world leading position in its target niche markets within sectors that include power generation, petrochemical, medical, aerospace and defence. Morgan Crucible has operations in more than 50 countries, including a significant and fast growing presence in the dynamic growth economies of the world such as China, India and Brazil. Its shares are listed on the London Stock Exchange and it is a member of the FTSE 250 index. Further information is available at www.morgancrucible.com.
The Carbon Disclosure Project (CDP) is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP harnesses the power of market forces, including 655 institutional investors with assets of US$78 trillion, to collect information from companies on their greenhouse gas emissions and assessment of climate change and water risk and opportunity. CDP now holds the largest collection globally of primary climate change and water data and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdproject.net to find out more.
For further enquiries:
Mark Robertshaw Morgan Crucible 01753 837000
Kevin Dangerfield Morgan Crucible 01753 837000
Alison Kay Brunswick 0207 404 5959