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Wed November 20 2019

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Kingspan sets carbon positive target

23 Aug Kingspan, manufacturer of insulation and building panels, has reported record group trading in the first half of 2019 and set itself new eco targets.

In the six months to 30th June 2019, Kingspan made a trading profit of €230m and revenue of €2,243m, representing growth of 18% and 12% respectively and both new highs for the company.

On the back of this success, and having reached previous targets, the company has set new targets to reduce its environmental impact.

In 2011 Kingspan set out to be carbon neutral by 2020. It is on schedule to achieve this. The new goals include becoming carbon positive by 2030 and sending no waste to landfill.

Chief executive Gene Murtagh said: "We have delivered a record first half with revenue growth in all our business units and a strong trading profit performance. We continue to expand our global production footprint with new facilities under construction in the US, Brazil and Sweden. The near-term outlook is solid although the political uncertainty in the UK, weakness in sterling, and weaker German economy are amongst risks we are monitoring closely.

“Alongside today's results, we are also announcing a series of sustainability targets under our Planet Passionate Programme, which builds on the Net Zero Energy journey we started in 2011. Seismic transformations are required to address the growing issue of climate change, and we are committed to delivering on the challenging targets we have set ourselves."

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