Speedy has become the first UK hire company to publicly commit to adopting science-based targets to achieve net zero carbon emissions before 2050, further enhancing their accountability focused leadership in sustainability.
Science-based targets (‘SBT’) provide a clearly defined pathway for companies to reduce greenhouse gas emissions, helping prevent the worst impacts of climate change and ensuring sustainable business growth.
An emissions target is considered ‘science-based’ if it is in line with the reductions needed to meet the global commitment under the Paris Agreement to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C. In the long term, reducing the carbon output of Speedy’s hire and vehicle fleet through the use of solar, hybrid, electric and hydrogen technology will help achieve this global goal.
Speedy’s targets will be verified by the Science Based Targets initiative and published, alongside the first year’s progress, over the coming financial year.
Alongside the SBT commitment, Speedy will also be joining the We Mean Business coalition and the United Nations Global Compact’s to accelerate an inclusive transition to a net zero economy.
The move to commit to an SBT reinforces the firm’s position on setting the pace in the UK hire sector in the drive to achieve net zero. It follows on the heels of other market-leading sustainability commitments including: trialling a number of electric delivery vehicles including two converted electric London taxis; a company car list that now consists almost entirely of hybrid and electric vehicles; launching the first 7-tonne Electra eStar rear-steer beavertail body truck in the UK (in partnership with Sterling GP); being the first hire provider to switch to fuelling powered access machinery exclusively with hydrotreated vegetable oil (HVO), and working closely with customers and suppliers to trial the use of hydrogenated vegetable oil (HVO), reducing carbon emissions by up to 90%.
Speedy’s Chief Executive Russell Down said: “I am proud to announce that we are the first hire company in the UK to commit to net zero carbon emissions under science based targets before 2050. We are committing to this to challenge ourselves in a transparent and measurable way.”
“As a key enabler within the supply chain, our aim is to inspire confidence in our people, customers and supply chain partners by reducing the carbon output of our hire and vehicle fleet through the use of new technologies. We will be working collaboratively with all our stakeholders to deliver net-zero carbon within the industry.”