The effects of climate change are increasingly visible and we are committed to taking measures to offset the impact of our operations. We seek to do this through governance, risk management, innovative working practices and education.
Supporting the UK’s net-zero carbon goals
Aligned with the UK Government’s target to achieve net zero carbon emissions by 2050, our businesses focus on improving working practices and education. The Board of Renew oversees governance and risk management to support our businesses in delivering these critical improvements.
Our subsidiary businesses incorporate innovative working practices in the course of their operations such as recycling, reducing works traffic volumes and engaging specialist waste management partners to dispose of materials.
We invest in developing technologies and solutions that cut down waste and carbon emissions for our clients. An example of this is the STONEmaster process deployed in our highways operations which provides significant benefits compared to traditional filter drain recycling methods. In the last year it recycled 53,000m3 of filter drain saving 62,000 litres of fuel and over 500 tonnes of CO2. During the year the STONEmaster product won two International Green Apple Environment Awards in the Environmental Improvement and Sustainable Development categories.
We operate some of the most innovative plant on the rail network with many one of a kind Road Rail Vehicles (“RRV”) which have been designed by our rail teams and built specifically for our business. These RRVs deliver both environmental and cost efficiencies for our clients.
Reducing our impact
Working to reduce climate change within our business is focused on two key areas, the reduction of carbon emissions and energy. During 2020 our commitment to reducing our carbon emissions and energy included hire, lease and procurement of more efficient plant and equipment, the introduction of electric motor vehicles and renewable energy sources and schemes to eliminate single use plastics.
The Group continued with its implementation of Lightfoot, a Government-supported technology, designed to make our roads safer, our environment cleaner and our fleet operations more economically sound by monitoring drivers’ behaviour and encouraging efficient and environmentally friendly driving behaviours. The introduction of this technology has reduced the Group’s fuel usage by around 10% in the year.
In 2019 the Group was awarded the London Stock Exchange Green Economy Mark which recognises businesses where at least 50% of revenue is derived from delivering environmental solutions.
Climate related risks and opportunities
Climate change has the potential to impact our business in a variety of ways from resource constraints to the changing energy and political landscape as well as market regulation, changes in technology and increased costs. Our subsidiary businesses manage the risks posed by climate change in their individual markets and report to the Board on a monthly basis.