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New ESG strategy to drive sustainability ambitions for Ibstock
Clay and concrete building products manufacturer, Ibstock plc, has launched its new environmental, social and governance strategy to drive further sustainability ambitions up to 2030. The company, which is widely credited as leading the way in sustainability within the construction products sector, says the new strategy will simplify the way it articulates its goals and ambitions – thus enhancing understanding of the journey ahead with both its colleagues and external stakeholders.
The Ibstock ESG Strategy to 2030 is an evolution of the company’s five-year sustainability roadmap set back in 2019 – with a number of its original targets achieved ahead of time. Ibstock’s evolved strategy defines a new era of responsible business and manufacturing and serves as an important accelerator in speeding up the pace of positive change.
Ibstock’s ESG Strategy to 2030 has been structured in a way that its milestones and ambitions are communicated clearly and simply. Organised under three themes: address climate change; improve lives; and manufacture materials for life, headline ambitions include:
• 40% reduction in absolute carbon (Scope 1 & 2*) by 2030.
• Increase female senior leadership representation to 40% as part of a proactive approach to diversity and inclusion.
• 20% of sales turnover revenue to come from new products and solutions that deliver customer value and improved sustainability.
Building on its ‘people first’ approach to ESG and sustainability engagement, Ibstock will continue to drive employee engagement and understanding of its goals and ambitions – focusing on how individuals and their actions can contribute to the bigger picture.
Ibstock says its new strategy is informed by a materiality assessment that has taken into consideration the views and perspectives of its key stakeholders. In addition, the company is also launching a major customer survey of attitudes to sustainability amongst housebuilders, builders merchants and architects and specifiers. The results of this process will shape a long-term programme of communications aimed at informing and connecting with Ibstock’s external stakeholders.
Joe Hudson, Ibstock plc chief executive officer, said: “We are very pleased to launch our ESG Strategy to 2030. It takes our business on the next exciting – and energetic – stage in its evolution. Whilst our new strategy sets our longer-term ambition, we are also very proud of the progress we have made on our journey so far to becoming a more sustainable, purpose-led business. Where the past decade has been about incremental improvement and embedding change, the next decade needs to go much further, much faster.
“To get where we need to be, we must continue to bring our people with us on this journey to enable us to make progress more swiftly and with greater impact. This is work that requires our passionate people with a desire to make positive change at pace. We are confident we will achieve our goals – but we will need to do this together. We are calling on our colleagues, suppliers, partners and customers to work with us – as we will work with them – to deliver on the challenges and opportunities that we share.”