Discovering Sustainable and Practical Tool Hire and Plant Hire Opportunities

Vp embraces ESG

15 December 2021

Vp embraces ESG

Vp has been adding more environmentally friendly equipment throughout the hire fleets of its group businesses and is also taking steps to embrace its ESG (environmental, social and governance) responsibilities.

Details were given in the group’s recent interim results announced for the six months to 30 September 2021. 

Vp’s capital investment in equipment during the period was £31.7m (H1 2021: £14.6m), with the focus heavily towards eco‐friendly, lower emissions products. These include solar powered lighting for its Torrent Trackside rail maintenance hire business (pictured), and substitution of equipment with cordless models. 

The group has committed to reducing emissions in line with the target set by the Paris Climate Agreement to limit global warming to 1.5 deg C. It has also signed up to the Science Based Targets Initiative to reach net‐zero global emissions by 2050 and will, over the next 24 months, set goals in line with these commitments. This will form a key element of the organisation’s short term roadmap to net zero from 2021 to 2025.

Vp says it has also increased its engagement with customers to help their own sustainability ambitions and has worked closely with its supply chain to help introduce more environmentally friendly products.

It makes the point that hire epitomises the circular economy, being an inherently more environmentally friendly business model than ownership as the sunk carbon footprint of an asset can be optimised across many users and over a longer time. 

● For other latest Site-Eco stories click here


Subscribe

I am constantly adding new content. If you subscribe FREE using the form below, I'll send you my weekly bulletin summarising the latest hire industry stories - and I'll also send you a PDF of 10 fascinating interviews with national and independent hirers, giving their views about business and their secrets of success!