TES Achieves a B Score on CDP Framework

SINGAPORE, February 21, 2024 (Newswire.com) - TES is proud to announce its performance in environmental reporting for the year 2023, as evidenced by achieving a B score on the reputable CDP (formerly Carbon Disclosure Project) framework. This achievement places TES in the top 42% of reporting companies globally, surpassing both the regional average and the industrial support services sector average.

The B score signifies attainment of ‘Management’ level of performance and reflects the company's proactive action on climate issues. This accomplishment validates TES’s commitment to transparency and accountability concerning its carbon footprint and overall environmental impact. By voluntarily participating in initiatives like the CDP, TES demonstrates its willingness to track, manage, and reduce its carbon emissions, contributing to a more sustainable future.

“We are thrilled to have achieved a B score on the CDP framework, surpassing last year’s performance,” stated Alvin Piadasa, Group sustainability director, “and are committed to continually improving our environmental responsibility and sustainability performance.”  

“Elevating sustainability performance within a company is a transformative journey that requires dedication, commitment and resources,” continued Mr Piadasa. “Just as a seed needs nurturing to grow into a robust plant, a business must invest in sustainable practices to prosper and thrive in harmony with our planet.”

TES’s efforts in emissions reduction initiatives and the development of low-carbon services are rewarded with high rankings. TES also achieved an A rating for Scope 1&2 emissions reporting, showcasing the company’s dedication to reducing emissions categories. TES recently made a significant announcement regarding its pledge to establish science-based, net-zero targets aligned to the guidelines produced to the Science Based Targets Initiative (SBTi). This proactive step underscores TES’s efforts to align its sustainability goals with scientific recommendations, further solidifying its position as a leader in sustainable business practices.  

Our commitment to embedding sustainability within our business strategy, financial planning, scenario analysis, and risk management practices has been acknowledged as robust in the CDP report. This acknowledgment stands as evidence of our endeavors to infuse sustainability throughout every facet of our business activities. 

Chief commercial officer, Eric Ingebretsen, stated, "By furthering our sustainability initiatives at TES, we are increasing the benefits we offer to our customers. Collaborating with a sustainable service provider enables our clients to boost their sustainability initiatives and decrease emissions in their supply chains. Ultimately, advocating for sustainability within the supply chain not only helps the environment but also provides economic benefits." 

As a frontrunner in sustainable practices within its sector, TES underscores the importance of prioritizing environmental stewardship. Looking ahead, TES remains resolute in its pursuit of excellence in environmental performance, with aspirations to achieve an A score (Leadership level) in the future. To realize this vision, the company will concentrate on enhancing areas such as renewable energy utilization, scope 3 emissions reporting and action, and governance. 

About TES 
About TES Since our formation in 2005, TES has grown to become a global leader in sustainable technology services and bespoke solutions that help clients manage the commissioning, deployment, and retirement of technology devices and components. We provide comprehensive services for technology devices throughout their lifecycle - from deployment to decommissioning to disposition - all the way through to recycling and end-of-life repurposing. This includes innovating new processes to leverage the value locked in assets if they are to be recycled, such as our proprietary lithium battery recycling process, which extracts scarce materials from used batteries at purity rates high enough that they can be reused in the manufacturing supply chain.   

We have made it our mission to make a decade of difference by securely, safely, and sustainably transforming and repurposing one billion kgs of assets by 2030. Our 40 owned facilities across 22 countries offer unmatched service-level consistency, consistent commercials, lower logistics costs, local compliance experts in-region, support in local time zones and languages, and a deep understanding of transboundary movement globally.   

For more information, visit www.tes-amm.com.

About CDP 
CDP (formerly Carbon Disclosure Project) is the most commonly used environmental reporting framework by organisations to independently assess their environmental performance. The framework is used by institutional investor signatories (746 with combined US 136 trillion in assets) and major purchasers (330+) who spend more than US 6.4 trillion to assess ESG performance of disclosing companies. In 2023, over 23,000 companies representing 2/3 of global market capitalisation disclosed their organisation's performance using CDP. TES has been undertaking CDP reporting now since 2017.

Source: TES