Speedy improves sustainability ranking
15 February 2024
Speedy Hire in the UK has achieved an A- ranking on its sustainability practices from the Carbon Disclosure Project (CDP), up from its B rating in 2022.
CPD is a non-profit body that assesses the environmental policies of companies, cities and governments, with 23,000 companies ranked worldwide.
An electric truck in Speedy Hire’s transport fleet. (Photo: Speedy Hire)
The ranking provides a snapshot of a company’s disclosure and environmental performance. To earn an A/A- score, said Speedy, organisations must show environmental leadership, and disclose action on climate change, deforestation or water security.
Speedy said the A- rating puts it in the leadership category ahead of the Europe-wide average of B and industry average C. Three years ago it achieved a D rating.
Speedy’s ESG strategy has set targets to reach net zero emissions by 2040, 10 years ahead of the UK government deadline. By 2030 it aims to reduce Scope 1 and 2 emissions by 50% and Scope 3 emissions by 42%.
The company’s net zero targets have been validated by the Science-Based Target initiative (SBTi).
Amelia Woodley, ESG director at Speedy Hire, said: “We are proud to have achieved this prestigious A- ranking by CDP which places us on the leadership board worldwide for our carbon disclosures, science-based targets and net zero initiatives of the past few years.
“Moving from a D score to an A- in such a short time demonstrates how important thorough data collection and transparency is in the journey to achieving net zero.
“This recognition validates the effectiveness of our ambitious Decade to Deliver ESG strategy, which aligns seamlessly with our science-based targets, bringing us closer to the UK Government’s 2050 net zero goals and reinforcing our dedication to an achievable net zero future through collaborative decarbonisation solutions across the supply chain.”
An increasing number of rental companies are publishing ESG and carbon reduction strategies. In recent months both VP PLC and Loxam have made announcements on sustainability and how their strategies are validated. In January, United Rentals published a white paper on sustainability.
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