Speedy Hire Launches Ambitious Roadmap to Achieve Net Zero By 2040

Speedy Hire, the UK’s leading construction equipment hire and service provider, has launched 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 their customers, people and communities.

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.
  • Operate on 100% renewable electricity by FY2027 in the UK and Ireland.
  • Reduce refrigerant leakage by 14% and natural gas emissions by 30%.

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.
  • Work closely with its top 30 suppliers to help set their own science-based targets.
  • 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.

Dan Evans, Chief Executive, Speedy Hire, said: “Publishing our carbon Net Zero Roadmap demonstrates our industry-leading commitment to reaching our net zero targets as fast as possible, against ambitious science-based targets throughout that journey.

“Our ESG strategy ’Decade to Deliver’, captures our ambitious goals that will accelerate our plan to make a significant impact by 2030, on our journey to reach net zero by 2040. We are setting out to make hire even more sustainable by collaborating with our partners and investing in innovation that is commercially sustainable to decarbonise the industries we support. Our Net Zero Roadmap is embedded as part of our overall ESG programme that supports our business growth strategy, ‘Velocity’, which sets a clear direction for the business to deliver sustainable growth for our people, customers and investors. It also establishes our commitment to improving the wellbeing of our people and communities in driving positive change.”

Amelia Woodley, ESG Director, Speedy Hire said: “A commitment to concrete and actionable steps are critical to drive the sustainable and technological revolution within the sector.

“We aren’t just talking about sustainability, we are publicly committing to it to be held accountable, by publishing clear steps to reduce Scope 1 & 2 emissions by 50% and Scope 3 emissions by 42% by 2030, which will enable us to make the rapid change required to reach net zero by 2040, 10 years ahead of the Government target. Our focused investment in innovation and the strength of our collaborative approach with our partners and customers will enable us to reach our targets and deliver on our net zero goals.”

To read the Speedy Hire Carbon Net Zero Roadmap in full click here.