Renewi Plc Announces Change of Auditor
Change of Auditor
Renewi plc is excited to inform stakeholders about the recent decision made by the board regarding the appointment of Ernst & Young LLP (EY) as the new auditor for the upcoming financial year ending March 31, 2026. This announcement is particularly significant as it emphasizes the company's commitment to transparency and excellence in financial reporting.
The change follows a meticulous audit tender process that adhered to the Financial Reporting Council Minimum Standard. This process evaluated a variety of both large and challenger audit firms and was carefully managed by the Audit Committee. In-depth details regarding this tender process will be made available in the 2025 Annual Report and Accounts.
BDO LLP will continue to serve as the current auditor, successfully conducting the audit for the fiscal year ending March 31, 2025, before transitioning to the new auditor.
About Renewi plc
Leading the Way in Recycling
Renewi is a specialized recycling company dedicated to transforming waste and used materials into valuable resources, thus preventing reliance on incineration or landfills for disposal. In an era where resource scarcity is pressing, Renewi plays a critical role by fostering the creation of circular materials. Their mission to breathe new life into used materials reflects a commitment to social and regulatory progress, making strides toward a cleaner and greener planet.
Innovation and Sustainability
Renewi aspires to achieve the status of the leading waste-to-product enterprise within the most advanced circular economies around the globe. Currently, the company boasts an impressive recycling rate of 66.2% in its continuing operations, ranking among the highest in Europe. In the fiscal year 2024, Renewi is projected to reintegrate 6.6 million tonnes of low-carbon circular materials back into circulation, significantly counteracting climate change while advocating for a sustainable circular economy.
The innovative approaches employed by Renewi to transform waste into usable circular materials such as paper, metals, plastics, glass, wood, compost, and water are reflective of their commitment to technological advancement. With a dedicated workforce exceeding 6,000 individuals, Renewi operates across 150 sites in five different countries throughout Europe. The company is recognized as a premier waste-to-product organization in the Benelux region and stands as a leader in advanced recycling across Europe.
Commitment to the Environment
Renewi's diligent recycling initiatives are instrumental in safeguarding natural resources and averting the production of more than 2.5 million tonnes of CO2 emissions each year. By embracing sustainable practices and leveraging innovative technologies, Renewi not only contributes to environmental preservation but also enhances the overall quality of life within communities.
Frequently Asked Questions
What is the recent change announced by Renewi plc?
Renewi plc has appointed Ernst & Young LLP as its new auditor for the financial year ending March 31, 2026, pending shareholder approval.
Why did Renewi choose a new auditor?
The decision came after a thorough audit tender process that evaluated multiple firms to ensure compliance with financial reporting standards.
Who will continue auditing for Renewi until the change takes effect?
BDO LLP will complete the audit for the fiscal year ending March 31, 2025, before the transition to Ernst & Young LLP.
What does Renewi focus on as a company?
Renewi focuses on recycling and converting waste into circular materials to promote sustainability and reduce environmental impact.
How does Renewi contribute to reducing CO2 emissions?
Through its recycling processes, Renewi prevents over 2.5 million tonnes of CO2 emissions annually by reintroducing low-carbon materials into use.
