• The Science Based Target Initiative (SBTi) has approved Speedy Hire’s near and long-term science-based emissions reduction targets and verified its Net-Zero science-based target by 2040.
• Speedy Hire is now the first in UK Hire to have its Net-Zero targets validated to the most ambitious designation available through the SBTi process, ranking them alongside some of the world’s largest leading businesses.
• The SBTi Net-Zero Standard is the world’s only framework for Net-Zero target setting in line with climate science.
The UK’s leading provider of tool, equipment and plant hire services, Speedy Hire, has reinforced its position as the leader of the sustainable and technological revolution in the UK Hire sector following SBTi’s validation of its science-based Net-Zero target.
The SBTi is a global body enabling businesses to set ambitious emissions reduction targets, in line with the latest climate science and focuses on accelerating companies to halve emissions before 2030 and achieve Net-Zero emissions before 2050, limiting the global temperature rise to 1.5°C.
Speedy Hire’s science-based Net-Zero target is focused on prioritising deep decarbonisation of direct emissions with only the residual emissions being neutralized in line with the SBTi criteria to reach Net-Zero emissions by 2040.
- Speedy Hire’s overall Net-Zero target is to reach net-zero emissions across the value chain by 2040, ten years ahead of the Government’s 2050 deadline.
- The company’s near-term target commits Speedy Hire to reduce absolute Scope 1 and 2 GHG (Greenhouse Gas) emissions by 51.6% by 2030 and to reduce absolute Scope 3 GHG emissions by 42%, within the same timeframe.
- Its long-term target also commits Speedy Hire to reduce absolute Scope 1, 2 and 3 GHG emissions by 90% by 2040.
- Speedy Hire’s Net-Zero, near-term and long-term targets are alle aligned n to a 5°C trajectory.
Amelia Woodley, ESG Director, Speedy Hire, says:
“In July, we published our Net-Zero Roadmap presenting science-based and tangible steps to reach Net-Zero by 2040, 10 years ahead of the Government deadline. We are delighted that our ambitions have been approved by SBTi. It is critical that we accelerate the delivery of sustainability this decade and Speedy Hire continues to invest and innovate to enable the necessary rapid change to reduce emissions in the hire sector.”
Our ESG strategy ‘Decade to Deliver’ frames our drive to achieving positive change. Through collaboration with partners and by pioneering innovation, also through establishing a modern, inclusive workplace and by supporting communities across the UK, Speedy Hire will continue apace to embed sustainability across the hire sector and beyond. Our approved ambition to reach Net-Zero by 2040 surpasses the UK hire sector and reflects our accountability, transparency, and qualified science-based approach.”
