In its inaugural sustainability report, waste management firm, Biffa, has confirmed today (21 June) that it has already ‘unlocked’ £1bn worth of investment in vital UK green infrastructure, well ahead of its targets.
The update comes as the business publishes its first sustainability report following the launch of its sustainability strategy ‘Resourceful, Responsible” in March 2020.
Biffa has accelerated its investment plans over the course of the last year, focusing on four key areas – Reduce, Recycle, Recover, and Collect, aligned to the waste hierarchy. The Group has an overall ambition to unlock £1.25bn investment by 2030.
The report shows the company has made further progress against ambitious targets despite the challenges of the Covid-19 pandemic.
As part of the investment programme the Group has doubled its plastics recycling capacity this year to more than 120,000 tonnes at its state-of-the-art facilities in the North East as well as establishing an industry leading position in waste reduction through the acquisition of Company Shop Group and making further acquisitions to expand its low carbon collections service.
The waste industry plays a critical role in shaping a better future for our communities and the environment.
Biffa has also announced further progress against its commitment to reduce emissions, outlining a roadmap to reach net zero no later than 2050. Since 2002 Biffa has reduced its CO2 emissions by 70% and is targeting a further 50% reduction by 2030.
Commenting on the report, Michael Topham, CEO of Biffa, said: “We have accelerated our sustainability programme despite the challenges posed by Covid-19, with meaningful delivery across a range of areas.
“The waste industry plays a critical role in shaping a better future for our communities and the environment. As part of our commitment to delivering on our ambitious plans Biffa has committed to unlocking £1.25bn investment in vital UK green infrastructure and I’m delighted to have already realised £1bn of that commitment, well ahead of plan.
“Biffa has a defining and important role to play in delivering more sustainable solutions to help combat the UK’s waste challenge. I’m proud of this progress but we cannot be complacent and remain fully focussed on strengthening our commitment to delivering more circular solutions for our customers and wider society.”
The three pillars of Biffa’s sustainability strategy are: Building a circular economy, Tackling climate change, and Caring for our people, supporting our communities.
You can read the full 2021 sustainability report here.