With Net Zero Week taking place from July 6-12 2024, Shire Leasing highlight and reflect on some of their key achievements and initiatives supporting SMEs with their journeys towards net zero.
Key initiatives and achievements:
🚘 Driving Clean Air
Since 2020, Shire Leasing has worked successfully to support a number of councils around the UK to administer financial assistance and support schemes through our Driving Clean Air programme, enabling SMEs to affordably upgrade to no/low emission vehicles and deliver cleaner air across our communities. The Driving Clean Air programme is designed to:
• Reduce Emissions: Target high-pollution areas and implement measures to significantly lower vehicle emissions through enabling vehicles to be upgraded more affordably.
• Promote Health: Improve air quality for residents, leading to better public health outcomes.
• Support Councils: Provide tools and frameworks for local authorities to effectively implement clean air initiatives.
• Encourage Sustainable Transport: Supporting the transition to low/no emission vehicles.
Since the launch of the scheme in Bath and North East Somerset (B&NES) in January 2021, our Driving Clean Air programme has since gone on to support similar financial assistance schemes for four other councils, including Newcastle & Gateshead, Bristol and Sheffield.
🌳 ‘Tree for a Lease’ Initiative:
With Shire Leasing, every new lease signed results in the planting of a tree, contributing to global reforestation efforts and carbon offsetting. Shire Leasing has already commissioned the planting of over 22,300 trees since launching the initiative and according to our planting partner, Play It Green, Shire’s forest will go on to absorb the equivalent of over 1,765 tonnes of carbon dioxide from Earth’s atmosphere.
🤝 Partnerships and Industry Influence
In November 2022, Shire’s Corporate Development Director, Julie Henehan, joined The Leasing Foundation as a Board member, responsible for the Sustainability Initiative. Passionate about ESG and sustainability, Julie is also Chair of the FLA’s Green Asset Group.
Shire Leasing is also a member of Solar Energy UK, recently showing commitment to the industry as Title Sponsors of the 2024 Summer Networking Reception. As active members, Shire can gain valuable insights from key figures across the industry, offer their expertise of developing innovative financial solutions to industry discussions and work with installers/suppliers to deliver finance options to UK SMEs investing in energy reduction, production and storage solutions at point of sale.
✍️ Green Asset Credit Policy
As an independent funder, Shire Leasing has developed a bespoke credit policy to fund green assets with a flexible risk approach, optimising credit acceptances and making finance more accessible for UK SMEs investing in net zero goals. In addition to offering Hire Purchase, Shire have also developed and introduced industry-exclusive solutions:
• Standard Hire Purchase: Level payments spread for up to 5 years, with an option to own the asset at the end of the agreement.
• Low Start for Low Emissions: Reduced payments of just £100 for the first 3-6 months, making initial investments more affordable.
• Green HP Balloon: Hire Purchase solution with a balloon payment at the end of the agreement, which helps to reduce the regular payments throughout the agreement.
🌱 Minimising Our Own Impact
As well as supporting and encouraging UK SMEs to transition to greener practices, Shire Leasing has also made its own changes and introductions. Initially, Shire collected data from carbon reporting around direct energy usage and also limited scope 3 emissions of staff travelling to work. Since conducting this data research and setting benchmarks, Shire Leasing has begun a journey of reviewing all areas of the business, with the view to introduce voluntary changes in the future and reduce the company’s carbon footprint further.
So far, examples include the installation of solar panels, upgrading to LED lighting throughout the offices and introduction of electric vehicle charging points on the car park to further reduce the environmental impact of employees and visitors. On a smaller scale, the company has transitioned to NFC-powered bamboo business cards, replacing the need for large batches of paper cards.
By building strong relationships and working in collaboration with councils, vendors and industry-related associations, Shire Leasing are making strides towards a healthier, more sustainable future. A commitment to clean air and sustainability is a critical part of Shire’s broader mission in supporting the goals towards net-zero emissions and combating climate change.
For industry manufacturers, suppliers and installers interested in Shire Leasing’s Green Asset Vendor Finance proposition and looking to offer finance options for business customers at point of sale, visit this dedicated webpage to learn how we can work together.
