- Water utility Severn Trent said it would invest £1.2bn over five years on green goals, including achieving by 2030 net zero emissions, sourcing all its energy from renewable source and making its entire fleet electric.

The company said it expected to meet the 100% renewables target by 1 April this year, with over 50% coming from self-generation and the balance purchased from sources.

Severn Trent said it would only purchase electric cars from now, and only electric vans from 2023.

It also planned to reduce leakage by 15% by 2025 and by 50% by 2045 and would work with farmers to reduce pollutants in catchments.

'We firmly believe that businesses with a strong social purpose can deliver better and more sustainable outcomes for all stakeholders over the long term,' chief executive Liv Garfield said.

'By committing to invest £1.2bn in the next five years we believe we can make a real difference to the environment and people we serve while delivering strong business outcomes at the same time.'

At 1:15pm: [LON:SVT] Severn Trent PLC share price was +28.5p at 2622.5p

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