Coates – Pathway to net zero emissions

SERVICES: Sustainability Strategy, Climate Risk Assessment, Energy Efficiency Planning, Emissions Reduction, Value Chain Management

OBJECTIVE: Coates, a leading equipment rental and engineering solutions company, wanted to play its part in protecting the environment. They set ambitious targets to reduce their emissions by 30% by 2026 and 50% by 2030. As a member of the NSW Government Sustainability Advantage project, Coates teamed up with Bridgeford Group to create a Net Zero Pathway, aiming to achieve Net Zero emissions by 2040 for their primary sources of emissions. This included their vehicles, facilities, and extensive fleet of rental equipment. The case study showcases how Bridgeford Group’s services, including Sustainability Strategy, Climate Risk Assessment, Energy Efficiency Planning, Emissions Reduction, and Value Chain Management, helped Coates develop a clear roadmap towards sustainability.

Coates recognised the significance of its emissions and committed to reducing them in line with global climate targets. Their transport fleet and powering their national branch network contributed to most of their emissions (Scope 1), while customer use of rental equipment was another significant source (Scope 3). To begin their journey to Net Zero, Coates and Seven Group Holdings (ASX:SVW) set ambitious targets to cut emissions by 30% by 2026 and 50% by 2030. Partnering with Bridgeford Group, they aimed to achieve Net Zero emissions for Scopes 1 and 2 by 2040.

Coates chose to develop a Net Zero Pathway to accelerate their sustainability efforts and demonstrate their commitment to fighting climate change. With Bridgeford Group’s support, they created a clear roadmap for reducing emissions and improving energy efficiency. Setting interim targets and engaging stakeholders played a crucial role in driving progress and fostering a culture of sustainability. Regular monitoring and reporting on progress helped prioritize improvement areas and maintain transparency.

Coates faced challenges in balancing emissions reduction with business growth and managing supply chain emissions. However, with Bridgeford Group’s expertise, they developed strategies to integrate sustainability into their growth plans and engaged with suppliers to encourage low-carbon practices. By leveraging external partners like Bridgeford Group, Coates effectively allocated resources and overcame constraints.

OUTCOME: As a result of their collaboration, Coates’ Net Zero Pathway showcases the importance of a comprehensive approach to sustainability. Beyond just emissions reduction, they addressed governance, people and capability, planning, data and reporting, targets, implementation and innovation, value chain, and finance. Their dedication to achieving Net Zero emissions serves as inspiration for other organizations looking to create a low-carbon future. Coates and Bridgeford Group’s partnership highlights the significance of working together to make a positive impact on the environment and build a sustainable future.