UK waste management firm, Biffa plc (LSE: BIFF), has announced it has been awarded London Stock Exchange’s new Green Economy accreditation.
The Green Economy accreditation has been created to clearly highlight to investors those companies listed on the London Stock Exchange’s main markets which derive over 50% of their annual revenues from products and services that contribute to the Green Economy.
Biffa plc has been included within the first cohort of companies to be recognised in this way.
As part of the accreditation, Biffa has been awarded a Green Economy Mark which will enable investors to recognise Biffa as a sustainable investment.
Commenting, Michael Topham, CEO of Biffa plc, said: “We are the leader in sustainable waste management and sustainability is embedded in all that we do at Biffa – whether that be the efficient way we run our trucks, our investment in recycling technology or more broadly our contribution to the circular economy.
“We are therefore delighted that Biffa has been recognised with this prestigious accreditation and look forward to giving further detail around our goals in this area with our new sustainability strategy which will launch during the second half of the financial year.”
Sustainable business models
London Stock Exchange today announces the launch of two initiatives supporting sustainable finance on its markets. The Green Economy Mark recognises listed companies with 50% or more of revenues from environmental solutions, while the Sustainable Bond Market (SBM) incorporates new Sustainability, Social and Issuer-Level Segments.
These initiatives are designed to support issuers implementing sustainable business models, and investors who are increasingly focusing on environmental products and services supporting the transition to a low carbon economy.
The Green Economy Mark recognises companies and investment funds on all segments of the Main Market and AIM that derive 50% or more of their total annual revenues from products and services that contribute to the global green economy.
The underlying methodology incorporates the Green Revenues data model developed by FTSE Russell. The Mark captures both ‘pure-play’ green technology companies, as well as those across industries that make significant contributions to the transition. The Green Mark is offered to issuers on a voluntary basis.
The Sustainable Bond Market (SBM) builds upon the success of London Stock Exchange’s Green Bond Segment, launched in 2015. The Sustainable Bond Market includes new dedicated segments for social and sustainability bonds, in addition to the existing Green Bond Segment.
We continue to see growing investor demand for actionable climate related financial information, with global asset allocations to green and sustainable finance increasing each year
These new segments further enable investors to distinguish between different types of sustainable bonds, based on independently verified frameworks and use of proceeds.
In addition, London Stock Exchange has created a new Issuer-Level Segment for bonds by issuers whose core business activity is aligned with the green economy. This enables eligible green economy businesses with more than 90% green revenues to admit bonds to SBM.
Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Development, LSEG said: “We continue to see growing investor demand for actionable climate related financial information, with global asset allocations to green and sustainable finance increasing each year.
“The launch of the Sustainable Bond Market and the Green Economy Mark underline our commitment to finding innovative solutions to support issuers and investors in the transition to a greener economy.”