Carbon reduction and building social value are both essential elements of M Group Services’ environmental, social and governance (ESG) targets.
M Group Services is delighted to be awarded an improved rating from independent, global risk ratings agency, Sustainalytics.
The Group’s carbon and other greenhouse gas performance has been re-baselined against its peers resulting in an in-year upgrade to its rating from 8.5 to 8.3. Sustainalytics measures performance against 55 parameters against a total risk maximum of 100 and a lower rating demonstrates reduced risk.
M Group Services has been awarded the accolade of ‘Industry Top Rated’ for its commitment to the environment and sustainability, managing its impact on and support for local communities.
Alongside this improvement, M Group Services’ Carbon Reduction Group, with representatives from its operating businesses, has finished its statutory annual carbon reporting cycle with a second, successive reduction in overall Group carbon intensity figures.
The Group’s greenhouse gas (GHG) emission intensity for every £1million turnover has reduced for a second year, down from 36.4 tCO2e in 2021/22 to 30 tCO2e in the year ending March 2023. This is a 21% improvement in emission intensity since 2020/21.
Equally important is the way in which M Group Services now measures and audits its results. Emma Bennett, Group Carbon & Climate Change Manager, has rolled out the use of Achilles Carbon Reduce certification across the business and has received confirmation that, following an in-depth external audit, the Group now complies with the rigorous ISO 14064 carbon reporting standards.
Andy Hunt, Director of ESG & Innovation, said: “We have come a long way in the last two years, professionalising the way we account for and report our ESG and greenhouse emissions data and in the actions we’ve adopted to reduce carbon, such as Eco-driving, adoption of HVO fuel, and developing lower carbon materials.
“Over next few months, the stage is now set to develop our detailed carbon reduction plans in line with the Science Based Targets initiative (SBTi), which we committed to in 2022. My huge thanks to the Carbon Reduction Group and the hundreds of people across our business who are supporting this truly valuable endeavour.”
M Group Services has publicly committed to reducing Scope 1&2 CO2 by 50% by 2030 and, as a Group, becoming carbon net zero before 2050.