Speedy has sustainability within Scope
6 July 2022
I’ve been reading through Speedy’s recently published annual report. The company’s strong trading results have already been covered on the blog, but also worthy of note is the information given about the company’s ESG (environmental, social and corporate governance) responsibilities and, in particular, steps to reduce the carbon footprint of the business.
The report, appropriately entitled ‘Growing sustainably’, gives a fascinating insight into the challenges that the company faces – as do other organisations – and how it is tackling them successfully.
Speedy has made a commitment to reaching net zero emissions before 2050. During its financial year ending March 31, the company set science based targets to reduce its Scope 1 and 2 emissions by 50% before 2030. Scope 3 emissions account for approximately 90 per cent of its overall carbon footprint, largely due to emissions from customers’ use of hired assets.
During the next financial year, Speedy says it will undertake science based modelling to create a pathway for the reduction of its Scope 3 emissions.
Speedy says that its carbon emissions in the UK and Ireland have reduced from 22,309 tonnes, in the baseline year of 2019, to 16,775 tonnes in the 2022 financial year. This has been achieved through procurement of renewable energy, running a more efficient vehicle fleet and the use of HVO fuel in larger vehicles. This equates to a 23 per cent reduction on a CO2 per employee basis to 4.94 tonnes (2019 continuing operations: 6.45 tonnes).
The company's principal carbon emissions are from its vehicle fleet. It aims to reach a position where the majority of its vehicles are electric or hybrid by 2025.
In the last year Speedy invested in 64 new hybrid vans and is trialling a number of additional electric vehicles. It launched what it believes to be the first all-electric 27 tonne vehicle (pictured) used in the construction industry to deliver its powered access products.
The business is also introducing sustainable measures in its depot network. Last year Speedy opened its Innovation Centre in Milton Keynes. As well as showcasing eco-friendly equipment, all commercial vehicles operating out of the site are electric or fuelled by HVO, which emits up to 90% less CO2e when compared to diesel.
The centre is powered by 670 solar panels and utilises energy efficient lighting and climate control technology. The site uses office furniture made from recycled materials, and it will be a blueprint for Speedy’s network plans going forward, including new Regional Service Centres to be opened in the coming year at Reading, Swindon, Doncaster, Leicester, Aberdeen and Edinburgh.
During its last financial year, Speedy invested £68.4 million in its hire fleet, of which 56 per cent was on sustainable equipment. The company says that 32 per cent of revenue is now generated from eco-friendly products.
Incidentally, to read the earlier article about the results, click here.
● The annual report is prefaced with some offbeat Speedy facts. For example: placed end-to-end, the hirer's cut-off saw fleet would stretch the length of New York’s Central Park (2.5 miles); its full range of hoists have a combined mast height of 9700m, equivalent to 32 Eiffel Towers; and the potential heat from Speedy’s welding sets added together would, apparently, be as hot as the Sun’s surface.
Photo: Alan Guthrie