Speedy Hire Launches Roadmap to Achieve Net Zero By 2040

Speedy Hire, the UK’s leading construction equipment hire and service provider, publishes its carbon Net Zero Roadmap presenting science-based and tangible steps to reach its net zero targets by 2040, 10 years ahead of the Government deadline.

To achieve its ambition, Speedy Hire has set out to reduce Scope 1 & 2 emissions by 50% and Scope 3 emissions by 42% by 2030, synergising with its   ‘Decade to Deliver’ strategy to accelerate the delivery of sustainability for customers, people, communities and the planet.

To reduce Scope 1 & 2 emissions by 50% Speedy Hire will:

• Replace 100% of petrol and diesel cars within its fleet with electric vehicles (EVs). Transition 66% of diesel vans and 15% of UK-based HGVs to EVs and transition a further 25% of UK-based vans and HGVs to low carbon alternatives like HVO.
• Reduce refrigerant leakage by 14% and natural gas emissions by 30%.
• Operate on 100% renewable electricity by FY2027 in the UK and Ireland.

Scope 3 accounts for 91% of Speedy Hire’s emissions. To reduce these emissions by 42% by 2030 (compared to 2020). Speedy Hire will:

• Reduce the amount of fossil fuel driven equipment hired to customers by 49%, including an 18% reduction in sold fossil fuels such as petrol, a 68% reduction in sold diesel and a 17% reduction in sold propane.
• Utilise policy, engagement and booking process to reduce travel on economy flights by 40%, reduce hotel use by 35% and car use by 45% by encouraging the use of online capability and rail transport/EVs from hire car providers.
• Reduce waste by 2% YOY from FY2023 through staff engagement initiatives
• Work closely with its top 30 suppliers to help set their own science-based targets

Dan Evans, Chief Executive, Speedy Hire, said:

“Publishing our carbon Net Zero Roadmap demonstrates our wholehearted commitment to reaching our net zero targets as a business, holding us accountable in our journey.

“Decade to Deliver, our ESG strategy, captures our ambitious goals to reach net zero by 2040 and make hire even more sustainable by collaborating with our partners and investing in innovation to decarbonise the industries we support, it also establishes our commitment to improving the Safety and wellbeing of our people and communities. It is embedded in our business growth strategy, Velocity, which sets a clear direction for the business, enabling us to be bold leaders in sustainability in our sector and to drive positive change.”

 

Amelia Woodley, ESG Director, Speedy Hire said:

“Concrete and actionable steps are critical to drive the sustainable and technological revolution within the sector.

“Setting clear steps to reduce Scope 1 & 2 emissions by 50% and Scope 3 emissions by 42% by 2030 will enable us to make the rapid change required to reach net-zero by 2040, 10 years ahead of the Government targets. Our strong investment in innovation and collaborative approach with our partners will enable us to reach our targets and deliver on our long-term net-zero goals.”