Shares of Powerhouse Energy Group PLC (LON: PHE) surged 26.6% today after the company established an environmental social and governance (ESG) committee to “integrate sustainability best practice into all decision-making.”
The company which produces hydrogen energy from plastic waste announced that the ESG committee would scrutinise its greenhouse gas emissions and those of its suppliers to help improve the firm’s performance.
Powerhouse Energy said that the committee would also support the development of the company’s technology to help accelerate the UK’s clean energy transition and “promote the achievement of the UN Sustainable Development Goals throughout its business.”
Kirsty Gogan will chair the committee given her over 15 years experience as a senior government advisor on climate and energy policy. Kristy also co-founded Energy for Humanity (EFH), an environmental NGO focused on large scale deep decarbonisation.
Kristy Gogan, commented: “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.”
Adding:
“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”,
Powerhouse energy share price
Powerhouse Energy shares surged 26.6% to trade at 11.4p having rallied from Tuesday’s closing price of 9.0p.