Morgan Advanced Materials
Environment
At Morgan we are committed to a sustainable future. Our aim is to ensure that our products and manufacturing processes are designed, built and managed in a way that enhances their value to society and our environment.
Our approach to sustainability continues to evolve as we bring into scope more and more elements related to our operations, processes and products.
Our products are benefiting the environment by making the operations of our customers significantly more energy efficient, and over the last five years we have made steady reductions to our own CO2e emissions and water consumption.
| Our aspiration | Our 2030 goals |
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Science Based Targets Initiative (SBTi)
The SBTi is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science.
SBTi has approved our near-term science-based emissions reduction targets and has classified our scope 1 and 2 target ambition as in line with a well below 2°C trajectory:
- We commit to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2015 base year*
- We commit to increase active annual sourcing of renewable electricity from 0% in 2015 to 80% in 2025 and 100% by 2030
- We commit to reduce absolute scope 3 GHG emissions 15% by 2030 from a 2019 base.
*The target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks
AAA MSCI ESG Rating
In 2023 we were awarded an 'AAA' environmental, social and governance (ESG) rating by MSCI.
An MSCI ESG rating is designed to measure a company’s resilience to long-term, industry material ESG risks. MSCI use a rules-based methodology to identify industry leaders and laggards according to their exposure to ESG risks, and how well they manage those risks relative to peers.
The ESG ratings range from Leader (AAA) to Laggard (CCC). As a result of our efforts to date, we have been awarded the AAA rating consecutively in 2023, 2022 and 2021.
These ratings highlight our commitment to a sustainable future and demonstrate our resilience to long-term ESG risks. We're proud of our progress so far, but we still have a long way to go to achieve all our goals.