Speedy Hire

Speedy Hire: Carbon Emissions and Climate Commitments

Speedy Hire, operating within the construction work industry in GB, has outlined significant climate commitments, including ambitious emissions reduction targets and a pathway to net zero.

Emissions Data:

For the reporting year 2024, Speedy Hire reported total greenhouse gas emissions of approximately 283,947,520 kg CO2e. This figure comprises:

• Scope 1 emissions: Approximately 12,297,840 kg CO2e, primarily from mobile combustion.
• Scope 2 emissions: Approximately 121,000 kg CO2e, mainly from purchased electricity.
• Scope 3 emissions: Approximately 271,528,680 kg CO2e, with significant contributions from downstream leased assets (approximately 81,620,980 kg CO2e), use of sold products (approximately 98,950,360 kg CO2e), and capital goods (approximately 64,752,950 kg CO2e).

In 2023, the company's total emissions were approximately 361,361,420 kg CO2e. This breaks down to:

• Scope 1 emissions: Approximately 12,768,800 kg CO2e.
• Scope 2 emissions: Approximately 225,300 kg CO2e.
• Scope 3 emissions: Approximately 348,367,320 kg CO2e, with notable figures for downstream leased assets (approximately 134,467,140 kg CO2e) and capital goods (approximately 70,357,000 kg CO2e).

For 2020, Speedy Hire reported total emissions of approximately 269,265,640 kg CO2e. This included:

• Scope 1 emissions: Approximately 19,841,430 kg CO2e.
• Scope 2 emissions: Approximately 4,411,680 kg CO2e.
• Scope 3 emissions: Approximately 244,999,360 kg CO2e.

Climate Commitments and Reduction Targets:

Speedy Hire has established robust climate targets, aligning with a 1.5°C reduction pathway. These commitments, verified by the Science Based Targets initiative (SBTi), include:

• Net Zero by 2040: The company aims to achieve net-zero greenhouse gas emissions across its value chain by FY2040, with a baseline year of FY2020.
• Long-Term Emissions Reduction: A minimum reduction of 90% in absolute Scope 1, 2, and 3 GHG emissions is targeted by FY2040, compared to the FY2020 baseline.
• Near-Term Emissions Reduction: Speedy Hire is committed to reducing absolute Scope 1 and 2 GHG emissions by 50% by FY2030 from a FY2020 baseline. Some sources indicate a specific target of 51.6% for Scope 1 and 2 emissions.
• Scope 3 Near-Term Reduction: A reduction of 42% in absolute Scope 3 GHG emissions by FY2030 is also committed, against the FY2020 baseline.

These targets demonstrate Speedy Hire's dedication to significant decarbonisation efforts within its industry.