Meggitt PLC is a leading global provider of high-performance components and subsystems for the aerospace, defense, and energy markets. Headquartered in the United Kingdom, the company has a presence in over 50 countries and employs more than 12,000 people worldwide. With a strong focus on innovation and technology, Meggitt is committed to providing its customers with reliable, efficient, and sustainable solutions that meet their evolving needs.

As a company operating in the aircraft electronics sector, Meggitt is acutely aware of the need to decarbonize the aviation industry. According to the International Air Transport Association (IATA), aviation accounts for around 2% of global carbon emissions, and this figure is expected to rise as air travel becomes more popular. Meggitt recognizes that it has a role to play in reducing the environmental impact of aviation, and is committed to developing technologies and solutions that support decarbonization.

One of the key ways in which Meggitt is working towards decarbonization is through its corporate energy strategy. The company has set ambitious targets to reduce its greenhouse gas emissions, and is investing in renewable energy and energy efficiency measures to achieve these goals. Meggitt has also implemented a number of initiatives to reduce its energy consumption, such as installing energy-efficient lighting and heating systems, and optimizing its manufacturing processes to minimize waste.

In addition to these measures, Meggitt is also exploring the use of corporate power purchase agreements (PPAs) to support its renewable energy goals. A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees a fixed price for electricity generated from renewable sources. By entering into a corporate PPA, companies like Meggitt can support the development of new renewable energy projects, while also securing a reliable and cost-effective source of renewable energy for their operations.

Meggitt has already signed several corporate PPAs with renewable energy providers, including a 15-year agreement with a wind farm in Scotland. This agreement will provide Meggitt with 10% of its annual electricity consumption, and will help to reduce the company's carbon footprint by around 5,000 tonnes per year. Meggitt has also signed a 10-year agreement with a solar farm in Spain, which will provide the company with 5% of its annual electricity consumption.

Through these initiatives, Meggitt is demonstrating its commitment to sustainability and to supporting the transition to a low-carbon economy. The company recognizes that decarbonization is not only important for the environment, but also for its long-term business success. By investing in renewable energy and energy efficiency, Meggitt is reducing its operating costs, improving its resilience to energy price volatility, and enhancing its reputation as a responsible and sustainable company.

In conclusion, Meggitt PLC is a leading provider of high-performance components and subsystems for the aerospace, defense, and energy markets. The company is committed to developing innovative and sustainable solutions that meet the evolving needs of its customers, while also supporting the transition to a low-carbon economy. Through its corporate energy strategy, renewable energy investments, and corporate PPAs, Meggitt is demonstrating its commitment to decarbonization and to building a more sustainable future.