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will generate 18.3 million kWh of energy over the next 25 years . Not only will the resulting cleaner energy increase the sustainability credentials of both sites by reducing their carbon emissions , but it will also help Howco to offset perpetually increasing energy costs .
Sustainability
Nonetheless , when it comes to sustainability at Howco , this investment is just the tip of the iceberg . Indeed , as Michael outlines , Howco embraces a variety of sustainable solutions and initiatives . “ We have set a combined Scope 1 and 2 emissions reduction target of 50 percent for the financial year 2026 . By the end of that same financial year , we are also aiming to lower our interim intensity by 50 percent . Moreover , we are aligned with and support the Sumitomo Corporation ’ s targets of reducing actual emissions by 50 percent by financial year 2035 and to reach Net Zero by 2050 . In line with these goals , we have implemented specific action plans , such as participating in local projects reducing power consumption , replacing halogen lighting with LED across all our sites , installing solar panels , as well as investing in energy efficient heating , new compressors , improved compressor pipework , and new boilers where necessary .
“ We have also revised our business model to promote a greater concentration on higher value , lower volume materials , thereby minimizing the need for in-house processing . Internally , we have implemented a variety of measures to decrease our impact on the environment . For instance , we are trialing energy reduction schemes for our gas furnaces and are in the process of developing a climate transition plan . Alongside that , we have launched our ‘ Take Charge ’ energy reduction campaign . As a result of all these efforts , scope 1 and 2 emissions have reduced across the entire group . Currently , approximately ten percent of our energy comes from renewable sources , a figure
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