Home » Algeco and Modulaire Group reduce carbon emissions by a quarter

Algeco and Modulaire Group reduce carbon emissions by a quarter

by Liam Turner
A hardhat resting on a solar panel

Modulaire Group, the parent company of modular buildings supplier Algeco, has published its latest Global Sustainability Report, showing a 26% reduction in Scope 1 and 2 emissions for the global business, compared with its 2020 baseline.

The report, ‘Sustainable modular solutions for a low carbon future,’ shows:

  • A 26% reduction in global Scope 1 and Scope 2 market based emissions vs 2020
  • A 54% of energy now from renewable sources
  • 4,616 hours of volunteering
  • Algeco UK achieved 6.8% reduction in Scope 1 and 2 between 2020 and 2022

Scope 1 are direct emissions that are owned or controlled by a company; whereas Scope 2 indirect emissions are a consequence of the activities of the company but occur from sources not owned or controlled by it.

Published annually, the latest report discusses the roadmap to net-zero, the group’s wider ESG strategy, and KPIs to measure progress.

It sets out the strategy behind Modulaire Group’s Environment, Social, and Governance (ESG), with circularity, adaptability, and leasing at the core.

At the heart of the strategy is the ‘loops within loops’ model, which employs circular economy principles in an effort to minimise waste, virgin materials, and embodied carbon.

The UK government has committed to meeting a legally binding target of net-zero emissions by 2050.

Algeco is aiming to meet net-zero carbon within an end-to-end supply chain before 2050.

The firm says key elements include the drive for energy, water, and waste reduction within its own business operations, as well as its customer solutions.

‘Significant opportunities’

Mark Higson, group chief executive officer of Modulaire Group, said: “I am pleased with our progress this year based on our five strategy and performance pillars.

“Our ambitious goal of achieving net-zero by 2050 is encouraging our teams to work with passion and pride, finding new ways to reduce our environmental impacts, and delivering social value to the communities in which we operate.

“Many of these achievements are shared in our ESGS report, including reducing our Scope 1 and 2 market-based emissions by 26%.

“I continue to believe there are significant opportunities to help our customers, suppliers, and stakeholders to address the challenges of climate change and to deliver growth in the low-carbon and circular economy.”

Inder Poonaji, director of ESG and Sustainability, said: “Our latest Global Sustainability Report documents the excellent progress we are making and the ambitious targets we have committed to.

“Reducing embodied carbon emissions is a challenge across the entire built environment, not just in buildings.

“That is why sustainability remains at the forefront of our strategy and decision-making as we look to play a leading role in delivering decarbonisation across the sector.”

Image credit: chalermphon_tiam/Shutterstock


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