There are four elements that summarise the current focus of our Planet pillar:
1. Climate change impact
We will:
- understand the risks and opportunities for our business that will arise as a result of climate change.
- report on those risks and opportunities regularly and transparently so that all our stakeholders can have confidence that we are safeguarding their interests over the long-term.
2. Greenhouse gas emissions
We will:
- measure and report on our direct and indirect greenhouse gas emissions.
- set science-based targets for our scope 1 and scope 2 emissions and take measures to meet those targets.
- support our OEM partners in their efforts to reduce emissions and actively promote the sale of vehicles with lower emissions.
- influence our other suppliers to reduce their carbon footprints, incorporate environmental considerations in our decision-making processes and favour suppliers that set ambitious targets themselves.
3. Waste and recycling
We will:
- deal responsibly with the waste we produce as a business. As a minimum we will comply with all applicable laws and regulations.
- progressively increase the amount of waste products we recycle to reduce our impact on the planet over time
4. Helping our own people achieve their carbon reduction goals
We will:
- show our people the ways in which they can contribute to reducing their impact upon the planet in both their working lives and their personal lives.
- leadership teams will model those behaviours
Our current priorities
Emissions
Scope 1 and 2 emissions remain the key focus of the Planet pillar and workstream and where we can make the biggest contribution to our stated target of 46% reduction in emissions by 2030 (in line with 1.5°C). Scope 1 focus is to increase the proportion of new energy vehicles as the share of cars owned and used by Inchcape, plus to reduce the amount of fossil fuel used in our operations.
Reduce electricity consumption
In Scope 2, we are increasing proportion of our electricity sourced from renewable tariffs as well as installing and measuring peak power output from on-site renewables such as solar pv, ground- and air-sourced heat pumps and implementing energy efficiency measures to reduce our overall electricity consumption where possible.
Scope 3 emissions
We confirm that the disclosures included in the 2023 Annual Report and Accounts are consistent with the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD).
Climate change projects
In order to understand the risks and opportunities associated with climate change, a project was carried out in 2022, to enable us to report in line with recommendations under the TCFD.