- UK vehicle salvage, dismantler and recycler SYNETIQ has today published its first sustainability report, covering its emission reductions and new baseline reporting figures since integration with parent company IAA Holdings, LLC (IAA)
- The business strengthens its commitment to reducing its scope 1, 2 and 3 emissions as a foundation for business operations
- Reduction of company’s own GHG emissions by 5.6% between 2020-21 and 2021-22
SYNETIQ, an IAA company, and one of the UK’s largest integrated salvage, dismantling and vehicle recycling companies, announces the publication of its first sustainability report, which highlights its progress against the company’s carbon reduction strategy and demonstrates how SYNETIQ creates value for its stakeholders and customers.
The business is pleased to report a 5.6% reduction in its own greenhouse gas (GHG) emissions between 2020-21 and 2021-22. Future reports will account for integration with IAA in the UK as the businesses operate as a single entity, and the report includes its new baseline emissions data for both the legacy businesses.
“I’m pleased to present SYNETIQ’s first sustainability report, which explains how our business enables us to create value for our clients and other stakeholders whilst contributing to a more sustainable society,” said SYNETIQ Sustainability Manager Elisa Caton. “We want to make a verifiable contribution to the sustainable development of our industry and community. To this end, we are proud to make our actions transparent and traceable through comprehensive reporting, and as such our first report also provides an overview of how we intend to meet our targets in the short, medium- and long-term.”
Steady progress towards sustainability goals
The new report shows that the measures taken in recent years are having an impact. In addition, the business helped its clients reduce or avoid GHG emissions, saving them 4.34 million KG of CO2e through its supply of green parts in 2022.
The business achieved Silver Carbon Literacy status in 2021 and is well on its way to becoming Gold accredited, for which 50% of its workforce must have passed SYNETIQ’s own climate and sustainability training.Since the launch of its sustainability strategy Our Road to Tomorrow in April 2021, SYNETIQ has made continuous progress towards its three main goals of fostering a carbon-conscious culture within the business and supply chain, putting in place projects to help reduce emissions to net zero, and continuously improving data relating to the emissions savings from using green parts. The report also details SYNETIQ’s future plans for sustainability within seven specific workstreams across its operations: transport, estate, energy, circularity and waste, culture, offsetting and compliance.
CEO of SYNETIQ Tom Rumboll said: “As a business, we understand that climate change is a serious threat, not just to the communities around us but to businesses worldwide too. We also recognise the opportunities that robust sustainability strategies can bring. Our sustainability report puts us one step further along our journey to lead the industry and demonstrate our commitment to do the right thing by our colleagues, customers and business.”
Find more information in the SYNETIQ Sustainability Report 2022 at https://bit.ly/3L0aRX5.
About SYNETIQ
SYNETIQ Ltd., the UK-based business unit of IAA Holdings, LLC (IAA), a Ritchie Bros. Auctioneers Incorporated company, is the largest integrated salvage, dismantling and vehicle recycling company in the UK, formed to become the most innovative and trusted business in the industry. An integrated, data-driven and innovative business, SYNETIQ has led the way in raising industry standards and continually innovates ways of working to deliver great value, ensure complete compliance and a provide a positive experience. SYNETIQ is proud to have major household names in its portfolio, including insurers, accident management companies, fleets, police forces, logistics companies, vehicle repair body shops, and remanufacturers. With cutting-edge data and software solutions, multiple sites, a specialist vehicle recovery fleet and over 800 dedicated UK-based employees, customers and clients trust SYNETIQ to create bespoke solutions to deliver the maximum benefit for their business. For more information about SYNETIQ visit SYNETIQ.co.uk.
