Speedy has been given a rating of B by CDP, a not-for-profit charity that runs the global disclosure system for investors, companies, and areas, to manage their environmental impacts.
CDP (Carbon Disclosure Programme) is seen as the gold standard of environmental reporting, and Speedy are proud to announce we have been awarded this rating by CDP in our mission to become an industry leader in ESG.
It is just one of the ways we have been recognised for our ESG policies. You can read our full list of current certifications on our ESG Governance page.
Speedy’s CDP journey
Speedy Hire were awarded a score of B by CDP in 2022, which is an improvement from D in 2021 and F in 2020 and 2019.
It shows we at Speedy are taking our pledges to be more environmentally aware seriously, and our actions are making a huge difference.
CDP supports businesses by allowing them to make their environmental impact transparent to stakeholders, better understanding how they can reduce their impact, and acting to become environmental leaders.
Over 18,000 companies disclose through CDP, which is roughly half of the global market. Capital markets and purchasing organizations can then request this data to make informed decisions about who to invest in and work with.
To be awarded a B is a huge achievement that we are proud of, and our score improvement shows we are on a positive trajectory in the right direction!
Who is CDP?
The world’s economy looks to CDP, as the holder of the most comprehensive set of data on corporate and city action, for reporting.
CPD works with companies to encourage action towards a net-zero world. Companies emit 70% of the world’s global emissions, making or breaking our journey towards a cleaner, clearer future.
There is a growing market demand for further environmental disclosure. Over 680 investors are looking at businesses that disclose their environmental figures to CDP in 2022, and 87% of companies agreed that disclosing to CDP helps organisations to be more transparent about their environmental impact.
What is a CDP Score?
A CDP score provides the public with a snapshot of a company’s disclosure and environmental performance, on our journey in line with a 1.5-degree, deforestation-free and water-secure future.
The idea is that disclosing every year allows the public, shareholders, and investors to see a company’s trajectory.
The scores range from D- to A, so there are targets for those rated at the lower scale of the scoring. As disclosure is required every year, it is also important for businesses to maintain their A rating if they have achieved the top score. It doesn’t mean their journey is over, it just means they are amongst the most transparent companies.
An F score is given if a company fails to disclose when asked.
What do the CDP Scores mean?
Companies are assessed over four consecutive levels, so if they fail at one level, they are given a score below this.
The scores are:
- F – Failure to Disclose
- D-/D – Disclosure
- C-/C – Awareness
- B-/B – Management
- A – Leadership
To achieve a ‘D’, companies simply need to disclose enough information. A ‘C’ rating indicates management is aware of what they need to do, and how its operations affect the environment and people.
A ‘B’ rating indicates environmental management, so companies have addressed the impact they have and are taking steps towards managing it but have not yet become a leader in their field. To achieve an ‘A’, companies must have solid strategies and operations in place.
This shows that Speedy are aware of our impact on the environment across management and how the company operates, but we have further work to do, but that we are aware of and are taking action towards the 1.5-degree trajectory laid out in the Paris Agreement.
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