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Travis Perkins announces SBTI accreditation alongside move to 100% renewable electricity

11/02/2021 | 02:09am EST

Travis Perkins plc, which is the largest supplier of building materials, and a leading partner to the construction industry, today announces that it has formally been accredited by the Science Based Targets initiative ('SBTi') who have recognised Travis Perkins' commitments to reduce its total greenhouse gas emissions.

The SBTi has formally recognised Travis Perkins' plans to reduce its scope 1 and 2 emissions by 80% before 2035 from a 2020 base year. The SBTi have also accredited the Group's plans to reduce its total scope 3 emissions by 63% within the same timeframe. This means SBTi has determined that all targets are in line with a 1.5°C trajectory.

Travis Perkins has committed to investing in its buildings to continually improve energy efficiency, using low carbon, renewable energy systems where possible, while also installing energy saving solutions such as utilising LED lighting, solar panels and electric vehicle charging points across the Group's estate. Measures have also been put in place to optimise the Group's 4,000-strong transport fleet by utilising fleet management systems, transitioning to alternative fuels and adopting low carbon technology.

Travis Perkins will also work with suppliers and customers to reduce supply chain emissions, in particular in-use emissions from products sold and the embodied carbon in products, as part of the broader Scope 3 emissions commitment.

Alongside this SBTi accreditation, the Group also today announces that it has moved to a 100% renewable electricity tariff for all of its UK based operations. The tariff, supplied by Drax, will see all Travis Perkins businesses in the UK supplied with 100% renewable source electricity across the total UK portfolio of almost 1,700 stores, branches and offices nationwide.

The renewable sources used to generate this electricity would typically consist of a mixture of biomass, wind and solar power, and over the four-year duration of the contract, this would save an estimated 54,600 tonnes of carbon compared to current levels; enough to power 80,000 homes.**

Commenting on the news, CEO Nick Roberts said:

"Achieving SBTi recognition for our emissions targets is an important step forwards as part of our broader sustainability plans. This adds great endorsement and credibility to the work we will lead with both suppliers and customers to decarbonise our industry. The measures we have put in place with regards to our fleet, the use of low-carbon technologies and our estate are already having a tangible impact on our emissions, and I look forward to building on this positive momentum. As such, I am delighted to announce that we have moved to a 100% renewable energy tariff for all of our UK operations, another key step forward as part of our long-term sustainability plans."

Drax Chief Commercial Officer Paul Sheffield, added:

"Climate Change is the biggest challenge the world faces and it's essential that businesses play their part in addressing this crisis. Drax has a world-leading ambition to be carbon negative by 2030 using bioenergy with carbon capture and storage to permanently remove carbon dioxide from the atmosphere.

"Drax supplies 100% renewable electricity and the contract with Travis Perkins is testament to the high level of service we provide, supporting businesses to reach their sustainability goals. We work in partnership with our customers, creating tailored solutions that meet their sustainability needs. As we look towards a post-Covid, green recovery, it's more important than ever for businesses to build back better, helping the UK reach its net zero by 2050 goal. We can't wait to start working with Travis Perkins."

Further good news is that Travis Perkins plc has been selected to take a leading role at COP26, where the Group's CEO Nick Roberts will chair a Construction Leadership Council panel debate on 11th November at 9.30am on Construction: The Built Environment. Also taking part in the panel to discuss the industry's Construct Zero change programme will be the CEOs and / or Sustainability leaders from Atkins, Costain, Mace and Keltbray. For more information, see The Green Zone of events There is also the opportunity to watch the event live here



Carbon saving**

This estimated carbon saving has been based on the average carbon intensity for the latest reporting period (182g CO2/kWh (source: Fuel Mix Disclosure Data Table 1.4.2020-1.3.2021) and the average household consumption in 2020 being 3731 kWh (source: National Statistics Energy consumption in the UK 2020)

Further information:
Corporate Communications
Travis Perkins plc
Tel: 01604 592307

A high resolution image is available via this link

About Travis Perkins
Travis Perkins plc is a leading partner to the construction industry and the UK's leading supplier of materials and equipment to the building, construction and home improvement markets. The Group operates market leading businesses, including Travis Perkins Builders' Merchants, Toolstation and a number of specialists in the civils, heating, ventilation and insulation markets, such as Keyline, BSS, CCF and many more. With annual revenues of £5bn, the Group employs 16,000 colleagues across the UK, but also in France and Benelux through Toolstation. The company has a proud heritage that spans over 200 years. For more information, please visit travisperkinsplc.co.uk

About Drax
Drax supplies energy and related services to over 250,000 businesses across Britain and employs over 1,500 people across offices in London, Ipswich, and Northampton. Supplying 100% renewable source electricity as standard, Drax is the largest supplier of renewable electricity to UK businesses. It offers energy-related services to almost 370,000 business sites, including energy optimisation and electric vehicle strategy and management. Drax owns and operates a portfolio of renewable electricity generation assets in England and Scotland. Drax was the first energy company in the world to announce an ambition to be carbon negative by 2030. Through its generation and energy services activities, Drax is fulfilling its purpose of enabling a zero carbon, lower cost energy future. For more information, please visit energy.drax.com.


Travis Perkins plc published this content on 02 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2021 07:08:07 UTC.

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Analyst Recommendations on TRAVIS PERKINS PLC
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Sales 2021 4 622 M 6 322 M 6 322 M
Net income 2021 227 M 310 M 310 M
Net Debt 2021 473 M 648 M 648 M
P/E ratio 2021 15,5x
Yield 2021 4,79%
Capitalization 3 421 M 4 678 M 4 680 M
EV / Sales 2021 0,84x
EV / Sales 2022 0,79x
Nbr of Employees 28 710
Free-Float -
Duration : Period :
Travis Perkins plc Technical Analysis Chart | TPK | GB00BK9RKT01 | MarketScreener
Technical analysis trends TRAVIS PERKINS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 1 564,00 GBX
Average target price 1 854,19 GBX
Spread / Average Target 18,6%
EPS Revisions
Managers and Directors
Nicholas John Roberts Chief Executive Officer & Director
Alan Richard Williams Chief Financial Officer & Director
Jasmine Mary Whitbread Non-Executive Chairman
Phil Tenney Chief Information & Technology Officer
Frank Mark Elkins Chief Operating Officer
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