SAE Renewables Limited (LON:SAE) has announced that the London Stock Exchange has provided it with the Green Economy Mark.
The Green Economy Mark, first introduced in 2019, was created to assist investors in identifying an investible universe of ‘green economy’ equities. The Green Economy Mark identifies companies and funds, admitted to the London Stock Exchange’s markets, that generate 50% or more of total annual revenues from products and services that contribute to the global green economy.
To assess an issuer’s contribution to the green economy, London Stock Exchange utilises the FTSE Russell Green Revenues Classification System (GRCS). The GRCS is a data classification system developed by FTSE Russell, as a comprehensive taxonomy for green products and services to help investors identify a company’s green revenue activities. It takes a broad, bottom-up view of the green economy, capturing products and services across the whole value chain.
SAE is a developer, owner and operator of sustainable energy projects. SAE’s business is aligned with the UK’s binding Net Zero targets, which ensures it is working in harmony with national objectives. SAE is one of the leading BESS developers in the UK and is the world’s leader in tidal stream operations and development.
Graham Reid, CEO of SAE Renewables said:
“We are delighted to have been provided with the Green Economy Mark, demonstrating our clear commitment to being a sustainable business for our planet and our shareholders. The Green Economy Mark helps ensure that our investors and stakeholders understand our green credentials and our efforts to support the transition to a low carbon economy.”
Julia Hoggett, CEO of the London Stock Exchange, added:
“Congratulations to SAE on obtaining the Green Economy Mark, which highlights companies or funds that derive 50% or more of total annual revenues from products and services that contribute to the global green economy. Companies within the Green Economy Mark cohort play an important role in accelerating the transition to a more sustainable economy.”