Speedy Hire Plc, the UK and Ireland's leading provider of tools, specialist equipment and services, today announces its membership of the United Nations (UN) Global Compact, a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices.
Demonstrating further progress against Speedy Hire’s Velocity sustainable growth strategy, the Group is the first hire company to join the UN Global Compact.
Announced in June 2023, Velocity places sustainability at the heart of Speedy Hire’s growth strategy, facilitating the achievement of its sustainability ambitions together with that of its customers, through the provision of sustainable solutions, products and services as well as significant reductions in its Scope 1, 2 and 3 emissions to achieve Net Zero by 2040.
The UN Global Compact is a global network, consisting of more than 16,000 companies and 3,800 non-business participants spanning over 160 countries, working together to alleviate some of the world’s most pressing challenges, including extreme poverty, labour issues, corruption and environmental risks.
By joining, Speedy Hire has committed to align its strategy with the UN Global Compact’s ten universal sustainability principles and continues to support the UN’s Sustainable Development Goals (UNSDGs).
As a member, Speedy Hire will also be taking part in the UN Global Compact’s Target Gender Equality Initiative, a learning programme which addresses policies and practices for advancing gender equality and gender parity in the workplace.
Recognised as an industry leader in ESG, Speedy Hire recently announced a proposed launch of a joint venture with AFC Energy to launch a dedicated hydrogen-powered generator plant hire business. This follows its partnership with NiftyLift to develop the world's first hydrogen-electric-powered, zero-carbon access platforms. During its last financial year, the Company invested £52.1m in its hire fleet, of which 52% was on sustainable equipment. It has a target to ensure that such 'eco' products account for 70% of its itemised equipment fleet by 2027.
Dan Evans, Chief Executive of Speedy Hire, commented:
“We are extremely proud to be the first hire company to join the UN Global Compact and look forward to working together with some of the world’s leading companies and stakeholders to advance sustainability and responsible practises globally.
“The UN Global Compact’s goals and ambitions resonate strongly with those of our Velocity strategy, which not only focuses on Speedy Hire being a commercially sustainable business, but also our role in supporting customers and the industry achieve their net zero targets.
“With a desire to innovate, enhance business practices and develop solutions to the benefit of all, we look forward to making a positive impact and working alongside globally leading organisations with a shared vision.”
