Speedy achieves environmental accreditation

By Leila Steed26 January 2023

UK construction equipment rental company Speedy has been awarded a Grade B on the Carbon Disclosure Programme (CPD) accreditation.

One Speedy's electric powered trucks (Photo: Speedy)

The accreditation programme is run by the non-profit organisation CPD. It assesses their ability to show real progress in operational practices and transparency in their environmental impact.

Companies that achieve a Grade A or B score are deemed to have “demonstrated both an awareness of their impact on the environment, deforestation and water security”, and taken appropriate actions to reduce these in line with the 1.5-degree trajectory laid out in the Paris Agreement”, says CPD.

According to Speedy, it is one of just 1,600 companies out of a total of 18,700 companies worldwide to achieve a Grade B rating in the CPD accreditation scheme.

The company, which is aiming to reduce its total emissions by 90% by 2040, said the Grade B rating “highlights the significant progress” it has made in its environmental, social and governance (ESG) strategy over the past year.

Amelia Woodley, ESG Director at Speedy, said, “Our goal is to become an ‘A graded’ company, cementing our position as a leading agent of environmental transparency and action.

“We launched our ambitious ESG strategy ‘The Decade to Deliver’ at the Speedy Expo in October last year, which is an action-based plan that accelerates our drive to achieve net zero before the Government’s target of 2050.

“We’re working hard to make this decade a period of change focusing on the importance of reducing carbon emissions and finding new industry leading ways of working.”

Speedy, which signed up to the Science-Based Targets initiative in 2021, also described the rating as “another step closer” towards achieving its Net Zero goals. 

These include achieving a 50% reduction in the emissions generated by its vehicles and property estate by 2030 and a 42% reduction in the emissions from its supply chain by 42% by 2030. 

Over the past two years Speedy has launched a number of initiatives designed to lower its emissions.

These include adding more low-emission tools and equipment to its rental offering, and converting more than half of its 1,100-unit-strong commercial vehicle fleet to electric or hybrid units by 2025.

In June of 2022 it invested £8.25 million (€9.6 million) in 150 electric powered vans. This was followed just a month later with a “multi-million-pound” deal that added 860 battery powered hand tools from manufacturer Milwaukee to its rental product range.

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