Speedy is Awarded EcoVadis Silver!

Speedy has been awarded EcoVadis’ Silver rating, meaning we are in the top 25% of businesses in our sector for sustainability.

Hiring tools give customers and businesses the option to make their DIY projects and jobs more sustainable, as the products have a longer lifecycle, and hiring reduces waste. But Speedy don’t want to stop there.

We have been awarded several different certifications and awards for our pledges to ESG (environment, social and governance) performance. Speedy is dedicated to our ESG strategy, with responsibility and sustainability being at the heart of everything we do.

Why Speedy has been awarded Silver

Speedy has been rated highly for our efforts to reduce carbon emissions. As a company with a range of vehicles in our fleet, as well as having over 200 hire depots across the UK, keeping our environmental impact low is vital.

To pledge our commitment to the cause, we have signed up for the science-based targets initiative (SBTI), where emissions targets are certified to be in line with reductions required under the Paris Agreement.

Speedy has made some big changes to incorporate the agreement. Firstly, we opened a net-zero low carbon hire centre in Milton Keynes, certified with an A+ energy rating. Our Milton Keynes depot showcases our range of zero-emission construction tools and equipment, as well as electric, solar and hydrogen-powered technologies which can help contractors keep their emissions low.

We have also been investing in our vehicle fleet to ensure that most of our available and company vehicles are electric or hybrid by 2030. With over 1,500 vehicles in the UK, this is a huge step towards cutting our overall emissions.

But we won’t stop there. The EcoVadis assessment universally benchmarks Speedy’s ESG performance across the environment, labour, ethics, human rights, corruption, and sustainability, but we are targeting a future Gold EcoVadis rating, placing us in the top 5% of all businesses.

What is EcoVadis?

EcoVadis is a platform which allows the evaluation and monitoring of the sustainability performances of companies.

As stated on their website:

“The EcoVadis overall score (0-100) reflects the quality of the company’s sustainability management system at the time of the assessment.”

The EcoVadis Sustainability Recognition Levels are based on the percentile rank of a company’s EcoVadis score and a minimum theme score.

As of 1^st January 2022, the Silver award is for any businesses in the top 25% (overall score between 56 and 66) within their industry.

EcoVadis is one of the world’s most trusted and recognised business sustainability ratings, and the only universal rating provider.

Tens of thousands of companies work with EcoVadis, across over 200 industries. So, to be recognised by EcoVadis is a huge step and achievement for Speedy Services.

Amelia Woodley, director of ESG at Speedy, told Commercial Fleet:

“This is a great achievement for our business. Major contractors are increasingly scrutinising the environmental impact of their supply chains.

“The EcoVadis rating gives them the certainty that Speedy is a responsible business that can help them to operate more sustainably.

“With 1,500 vehicles and 200 locations UK-wide, net zero represents a huge transformation for us. But the silver accolade demonstrates the maturity of our ESG strategy and reflects how we’re moving in the right direction as a business.

“We now need to mobilise our supply chain to join us on our journey to enhance our position as the leading provider in sustainable hire. Working as one sustainable supply chain, we can play a significant part in the overall decarbonisation of the built environment."

How are ESG scores rated?

ESG stands for Environmental, Social and Governance.

EcoVadis will compile data about a company, and then compare them against standardised scales.

The EcoVadis ESG score examines the performance of a company across several themes, taking into account emissions, human rights, procurement sustainability, and other factors.

A good rating generally shows that a company has sustainable practices, is transparent about how it is run and managed, has few data breaches or human rights issues, and has little negative environmental impact (such as pollution and waste).

Having a good ESG score is important, especially for a public company such as Speedy, as it can help people make decisions as to who to do business with. This includes investors as well as customers.

Environmental, social, and governance practices, are indicative of operations that bring risks to investors, customers, and the global community. Investors are increasingly placing more importance on non-financial factors when it comes to identifying potential businesses earmarked for growth.