The new award is for listed companies who derive 50% or more of their activity from industries looking to reduce environmental risks and promote sustainable development

The initiative was launched on Friday, with Symphony one of the first companies to receive the mark

( ), the biodegradable plastic technology firm, is one of the first companies to be awarded the new “Green Economy” classification by the London Stock Exchange.

The LSE launched the new label for listed companies who derive 50% or more of their activity from industries looking to reduce environmental risks and promote sustainable development.

The initiative was launched on Friday, with Symphony one of the first companies to receive the mark.

“I am delighted that Symphony has been awarded this important and prestigious ‘Green Economy Mark’, which we believe will help considerably with our global communications in a world that is looking for immediate and cost-effective answers to the problem of plastic materials that escape collection for reuse or recycling and get into the open environment,” said chief executive Michael Laurier.

Shares were up 3.57% to 7.25p in early morning trades.