Home » Large UK equipment-hire firm sets out to become net-zero by 2040

Large UK equipment-hire firm sets out to become net-zero by 2040

by Liam Turner
Electric-powered construction machinery

Speedy Hire, the UK-based construction equipment hire and service provider, has announced plans to become a net-zero company 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, and communities.

To reduce Scope 1 & 2 emissions by 50% Speedy Hire says it 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 with 2020), Speedy Hire says it will:

  • Reduce the amount of fossil fuel driven equipment hired to customers by 49%
  • Work with 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%
  • Reduce waste by 2% year-on-year through staff engagement initiatives

Dan Evans, chief executive of 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.”

He added: “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.”

Image: Scharfsinn/Shutterstock

Read next: Costain hits key milestone in pioneering North Sea carbon-capture project

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