Towards sustainability, the smart way. Coates commits to achieve net zero greenhouse gas emissions by 2040. Underpinned by the Circular Economy concept, Coates’ sustainability framework is based on five key pillars: Our People, Our Communities, Resilience, Eco-efficiency and Greener Choices.
Sydney, Australia, October 27, 2021 – Coates, Australia’s leading equipment hire and solutions provider, has unveiled its first sustainability strategy and has committed to achieving net-zero emissions by 2040, with mid-term targets of a 30 per cent emissions reduction on 2020 levels by 2026 and a 50 per cent reduction by 2030.
The net-zero target is aligned with parent company Seven Group Holdings (ASX: SVW) which unveiled its sustainability report earlier this month.
SGH and Coates will, in future, report on sustainability efforts under the globally accepted GRI framework and make climate-related disclosures in line with the Task Force on Climate-related Financial Disclosures’ recommendations.
“We have a vital role to play in Australia’s drive towards net zero emissions and our first sustainability plan recognises that sustainability is a key aspect of our current and future business success,” said Murray Vitlich, CEO, Coates. “Through this important work, we aspire to strengthen the resilience of our people, our customers and our planet by playing our part in the circular economy.”
Coates’ sustainability framework is underpinned by the Circular Economy concept that is based on the principles of designing out waste and pollution, keeping products and materials in use and regenerating natural systems. This approach aims for business growth as well as positive, society-wide benefits. Underpinned by a transition to renewable energy sources, the circular model builds economic, natural, and social capital.
Coates’ sustainability framework is based on five key pillars:
“As a responsible organisation we must proactively respond to global and industry trends that are impacting us all today, and into the future,” said Vitlich. “Through driving eco-efficiency and resilience in our business and equipment solutions, we will contribute to a sustainable economy that keeps products and materials in use, designs out waste and pollution and helps regenerate the natural environment.”
In line with these pillars, Coates has begun or will undertake the following projects:
In addition, the company recently announced that customers can now use blended Biodiesel up to B7 in all Coates’ diesel engine-powered plant and equipment. Biodiesel has proven its sustainability, reliability and efficiency in recent years while producing significantly less emissions than standard diesel fuel.
The company is also soon launching the following initiatives and programs:
“At Coates, we are leveraging what we already do well and stretching into new areas of focus. Our road to net zero will be paved with more initiatives as the years progress,” said Vitlich. “We believe our plans for the next 12 months will build a strong foundation for our company to continue our journey towards sustainability, the smart way.”
Coates' Sustainability Playbook provides additional detail on our sustainability journey through a circular economy and five key pillars. Download it here.
Coates, part of Seven Group Holdings (ASX: SVW), is Australia’s leading equipment hire and solutions provider, operating across a range of markets including engineering, mining and resources, infrastructure, manufacturing, construction, agriculture and major events.
Coates has recently celebrated 136 years of commitment to supporting their customers who help build Australia. With a national footprint of over 150 branches and 2,000 highly skilled employees, Coates provides expert equipment solutions for nearly 19,000 customers. This includes end-to-end solutions for temporary works, traffic management, water management, industrial shutdowns, maintenance, training services and events.
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