Victrex plc is a United Kingdom-based company that operates in the Advanced Materials sector. The company is a leading manufacturer of high-performance polymers that are used in a wide range of applications, including aerospace, automotive, electronics, energy, and medical. With a history dating back to 1966, Victrex has established itself as a trusted supplier of innovative materials that meet the most demanding performance requirements.

In recent years, Victrex has been actively pursuing decarbonisation initiatives to reduce its carbon footprint and contribute to the fight against climate change. The company has set ambitious targets to reduce its greenhouse gas emissions by 55% by 2030 and achieve net-zero emissions by 2050. To achieve these goals, Victrex has implemented a range of measures, including energy efficiency improvements, renewable energy sourcing, and the adoption of low-carbon technologies.

One of the key initiatives that Victrex has undertaken to reduce its carbon footprint is the implementation of a corporate energy strategy. This strategy involves the identification of energy-saving opportunities across the company's operations, the implementation of energy-efficient technologies, and the use of renewable energy sources. Through this strategy, Victrex aims to reduce its energy consumption and associated greenhouse gas emissions, while also improving its operational efficiency and reducing costs.

As part of its corporate energy strategy, Victrex has also implemented a corporate power purchase agreement (PPA) for renewable energy. A PPA is a long-term contract between a company and a renewable energy provider, whereby the company agrees to purchase a specified amount of renewable energy at a fixed price over a set period. By entering into a PPA, Victrex is able to secure a reliable and cost-effective source of renewable energy, while also supporting the growth of the renewable energy sector.

In 2020, Victrex signed a 15-year PPA with a wind farm in Scotland, which will provide the company with 30% of its electricity needs. This PPA is expected to reduce the company's greenhouse gas emissions by approximately 7,500 tonnes per year, equivalent to the emissions from over 1,500 cars. The PPA also provides the wind farm with a stable revenue stream, enabling it to invest in further renewable energy projects.

In addition to its PPA, Victrex has also invested in on-site renewable energy generation. The company has installed solar panels at its headquarters in Lancashire, which generate approximately 10% of the site's electricity needs. This on-site generation reduces the company's reliance on grid electricity and further reduces its carbon footprint.

Victrex's commitment to decarbonisation and renewable energy is not only driven by its environmental goals but also by its business strategy. The company recognizes that the transition to a low-carbon economy presents both risks and opportunities, and that companies that are able to adapt to this transition will be better positioned for long-term success. By reducing its carbon footprint and investing in renewable energy, Victrex is not only contributing to the fight against climate change but also positioning itself as a leader in the transition to a low-carbon economy.

In conclusion, Victrex plc is a United Kingdom-based company that operates in the Advanced Materials sector. The company is committed to decarbonisation and has set ambitious targets to reduce its greenhouse gas emissions. Through its corporate energy strategy, the company is implementing a range of measures to reduce its energy consumption and associated greenhouse gas emissions, including the adoption of renewable energy sources and the implementation of energy-efficient technologies. Victrex's commitment to decarbonisation and renewable energy is not only driven by its environmental goals but also by its business strategy, recognizing the opportunities presented by the transition to a low-carbon economy.