Speedy Scopes out Net Zero plans
27 July 2023
Speedy has now published its Net Zero Roadmap detailing the hirer’s plans to reduce its Scope 1 and 2 emissions by half and its Scope 3 emissions by 42 per cent by 2030.
The plan, which is part of its Decade to Deliver strategy, sets out measures the company is taking to meet its science-based net-zero targets by 2040, which is ten years ahead of the government’s stated deadline.
As discussed previously on the blog, carbon emissions are categorised under three Scope definitions. To summarise, Scope 1 emissions are created directly by an organisation’s activities such as using fuel in vehicle fleets or, say, operating a furnace; Scope 2 relates to the electricity it purchases from the grid; and Scope 3 effectively covers everything else, including emissions throughout the entire supply chain, from products and the materials used in their manufacture, to packaging and transportation.
To reduce Scope 1 and 2 emissions, Speedy says it will replace its entire petrol and diesel car fleet with electric vehicles (EVs), transition two-thirds of diesel vans and 15 per cent of UK-based HGVs to EVs, and 25 per cent of UK-based vans and HGVs will be superseded by models using low-carbon alternatives like HVO.
The company also aims to operate on 100 per cent renewable electricity by its 2027 financial year in the UK and Ireland, as well as reducing refrigerant leakage by 14 per cent and natural gas emissions by 30 per cent
Like most organisations, Scope 3 accounts for the vast majority of Speedy’s emissions. To achieve the 42 per cent reduction goal by 2030 (compared against 2020 levels), the company will reduce the amount of fossil fuel-driven equipment hired to customers by 49 pre cent, including an 18 per cent reduction in sold fossil fuels such as petrol, a 68 per cent reduction in sold diesel and a 17 per cent decrease in sold propane.
It will also work closely with its top 30 suppliers to help set their own science-based targets and utilise booking process to reduce travel on economy flights by 40 per cent, decrease hotel use by 35 per cent and lower car use by 45 per cent, through measures like using online meetings and rail transport.
Speedy also plans to reduce reduce waste by 2 per cent year-on-year from its 2023 financial year through staff engagement initiatives.
Chief Executive Dan Evans said: “Our ESG [environmental, social and governance] strategy Decade to Deliver captures our ambitious goals that will accelerate our plan to make a significant impact by 2030, on our journey to reach net zero by 2040.
“We are setting out to make hire even more sustainable by collaborating with our partners and investing in innovation that is commercially sustainable to decarbonise the industries we support.
“Our Net Zero Roadmap is embedded as part of our overall ESG programme that supports our business growth strategy, Velocity, which sets a clear direction for the business to deliver sustainable growth for our people, customers and investors. It also establishes our commitment to improving the well-being of our people and communities in driving positive change,” he added.
Amelia Woodley, Speedy’s ESG Director, said: “A commitment to concrete and actionable steps are critical to drive the sustainable and technological revolution within the sector.
“We aren’t just talking about sustainability, we are publicly committing to it to be held accountable, by publishing clear steps to reduce Scope 1 and 2 emissions by 50 per cent and Scope 3 emissions by 42 per cent by 2030.
“Our focused investment in innovation and the strength of our collaborative approach with our partners and customers will enable us to reach our targets and deliver on our net zero goals.”
