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Powerhouse Energy establishes ESG committee to promote sustainable development

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Powerhouse Energy Group PLC (LON:PHE) said it has established an environmental social and governance (ESG) committee with an aim to “integrate sustainability best practice into all decision-making” and support the development of the company’s technology to help accelerate the UK’s clean energy transition.

The company, which specialises in technology that produces hydrogen from waste plastic, said the ESG committee will ensure that it “promotes achievement of the UN Sustainable Development Goals throughout its business”, with particular scrutiny applied to greenhouse gas emissions caused by the firm’s own activities as well as those of its suppliers and customers in order to achieve continuous performance improvements.

READ: Powerhouse Energy confirms no new material developments beyond those previously notified after share price jump

The committee is chaired by non-executive director Kirsty Gogan, who has more than 15 years’ experience as a senior advisor to government on climate and energy policy and is co-founder of Energy for Humanity (EFH), an environmental NGO focused on large scale deep decarbonisation.

Members of the committee also include Powerhouse chairman, Tim Yeo, independent non-executive director Mark Berry and Powerhouse chief executive, Dave Ryan.

“The creation of this committee shows Powerhouse’s commitment to ensuring a sustainable and ethical best practice in all its work.  As a business which is helping accelerate the clean energy transition, the welfare of our environment and the impact of climate change are issues the business is heavily engaged with and hope to support.  Powerhouse technology aims to work at a local level, therefore engaging with communities will be a vital part of this committee’s work.  The Committee members bring an array of expertise which will benefit the company in ensuring sustainable best practice”, Gogan said in a statement.

Powerhouse shares surged 12.8% to 10.2p in late-morning trading on Wednesday.

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