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Bakkavor works towards Net Zero

08 November 2021

Bakkavor Group plc has announced that it is making progress towards its climate target of reaching Net Zero by 2040 after agreeing a £13.3m asset finance deal with HSBC UK. 

The company will use the HSBC UK funding to overhaul its network of refrigeration systems, starting with plant replacements at its Sutton Bridge and Boston sites in Lincolnshire and Bo’ness site in West Lothian. 
 
The move forms part of a wider plan to transform its entire UK network of refrigeration systems. Doing so will unlock energy savings, predicted to support a significant reduction of CO2 emissions. 
 
The new investment is the first significant milestone to follow the launch of the company’s ESG strategy. Central to its growth plans, this focuses on reducing carbon footprint and energy intensity across operational manufacturing, in order to achieve Net Zero by 2040.
 
Ben Waldron, chief financial officer at Bakkavor Group, said: “Now more than ever is climate action at the forefront of how we do business. On the cusp of COP26, we support UK business efforts – and the food sector in particular – leading the way on tackling climate change. As a manufacturing company, our biggest operational impact on the climate comes from the heating and cooling systems used in our sites, so it’s great to see the next phase of the overhaul of our refrigeration systems get underway, reducing our company’s carbon footprint on the road to Net Zero.
 
“We are grateful for the support from the team at HSBC UK as we take this huge step towards achieving this goal.”


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