Modulaire Group Delivers 26% Reduction in Carbon Emissions

Highlights of the latest report include:

• 26% reduction in global Scope 1 and Scope 2 market based emissions vs 2020;
• 54% of energy now from renewable sources
• 4,616 hours of volunteering
• Algeco UK achieved 8% reduction in scope 1 and 2 between 2020 and 2022

Scope 1 are direct emissions that are owned or controlled by a company, whereas scope 2 indirect emissions are a consequence of the activities of the company but occur from sources not owned or controlled by it.

The report references the UN SDGs (Sustainable Development Goals), TCFD (The Task Force on Climate Related Financial Disclosures) and UNGC (United Nations Global Compact) Standards.

Published annually, the latest group report discusses the roadmap to Net Zero, its wider ESG strategy and KPIs to measure progress. It sets out the strategy behind Modulaire Group’s Environment, Social and Governance (ESG), with circularity, adaptability, and leasing at the core. This ‘loops within loops’ model is at the heart of the strategy, which employs circular economy principles to minimise waste, virgin materials and the embodied carbon throughout its whole operations and activities.

With the UK government committed to meeting a legally binding target of net zero emissions by 2050, all organisations will need to cut carbon emissions. With the built environment accounting for around 40% of CO2 emissions, Advanté and Algeco UK has already taken important steps to Climate action.

Mark Higson, Group Chief Executive Officer of Modulaire Group, said:

“I am pleased with our progress this year based on our five strategy and performance pillars. Our ambitious goal of achieving Net Zero by 2050 is encouraging our teams to work with passion and pride, finding new ways to reduce our environmental impacts and delivering social value to the communities in which we operate.

Many of these achievements are shared in our ESGS report, including reducing our Scope 1 and 2 market based emissions by 26%. I continue to believe there are significant opportunities to help our customers, suppliers, and stakeholders to address the challenges of climate change and to deliver growth in the low carbon and circular economy.”

Inder Poonaji, Director of ESG and Sustainability, said:

“Our latest Global Sustainability Report documents the excellent progress we are making and the ambitious targets we have committed to. Reducing embodied carbon emissions is a challenge across the entire built environment, not just in buildings. That is why sustainability remains at the forefront of our strategy and decision-making as we look to play a leading role in delivering decarbonisation across the sector.”