Thursday, September 30, 2021

News: AESSEAL's £29m by 2029 investment pledge


Rotherham-based AES Engineering Ltd Group has made an historic commitment to £29m of planet-friendly investment by 2029 in order to go beyond Net Zero for its global business.

The company’s "£29m by 2029" pledge, in the run-up to the COP26 UN Climate Change Conference in Glasgow on November 1, underscores the growing recognition that businesses will have a potentially huge influence on the success of efforts to limit global warming.

The Templeborough-based company designs and manufactures mechanical seals and support systems.

AES Engineering’s Managing Director, Chris Rea said: "By committing to take the global company beyond Net Zero globally (we have already gone beyond Net Zero in the UK business) and explaining how we are going to do it, we believe we will provide a road map for other companies and organisations who share our concern about ethical, balanced and sustainable development."

This latest commitment builds on the company’s backing of the Betterworld.Solutions campaign, aimed at encouraging global industry to adopt an investment policy to prevent global warming. Last year, the largest part of the group, AESSEAL, based in Rotherham was one of the first major UK engineering businesses to reach Net Zero and go beyond.

AES Engineering says that on current plans, as a result of existing investments, and the company’s audited contribution to helping global industries to save energy, water and reduce pollution, it is almost certain it will be able to prove it will have reached beyond Net Zero for the global group as early as next year.

As a result of a unanimous Board decision, it has decided not to stop there and has approved £29m of investment up to April 2029 that is designed to set a new ‘gold standard’ for business engagement in the battle against global warming.

With daily news reports of the severity of the climate crisis the company says it will lead by example and encourage sharing of best practice by demonstrating what is both practical and possible by outlining specific dates, targets, times, amounts and investment.

The company plans to invest in, among other things solar panels, battery storage and other energy-saving measures, as well as investigating a wide-range of other measures including tree planting.

Chris Rea, has appealed to other business leaders to speak out and share their own positive messages on how to tackle the climate crisis. He added: "Please make your voice heard - speaking to staff, colleagues and when using social media or other communication channels. When the future of your children and grandchildren is at stake it is better to say, and do too much, than not enough."

Plans for a 50,000 sq ft expansion at the global headquarters in Rotherham were approved in 2019.

AESSEAL website



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