TVS Interfleet Group
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Climate Change
- Waste Management
- Human Rights
- Governance
- Product Safety
- Supply Chain Sustainability
- Diversity, Equity & Inclusion (DE&I)
- Employee Wellbeing
Environmental Achievements
- Transitioning fleet away from fossil fuels
- Investigating energy-efficient equipment replacements
- Adhering to waste hierarchy (minimizing, maximizing recycling, diverting from landfills)
- Monitoring water consumption for leaks
Social Achievements
- Providing training, development, and advancement opportunities to staff
- Developing employment standards and HR policies for consistency and transparency
- Implementing a 4-day working week and hybrid options for office staff
- Developing an ESG vendor governance framework
Governance Achievements
- Established an ESG committee to track progress against set ESG targets
- Conducted a materiality assessment amongst stakeholders
- Implementing policies and procedures and regularly reviewing systems' effectiveness
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero GHG emissions by 2050
Short-term Goals:
- Reduce emissions by 50% by 2025 (aligned with IPCC recommendations)
Environmental Challenges
- Not currently economically feasible to procure renewable gas
- Managing supply chain effectively and ensuring supplier compliance with ESG standards
Mitigation Strategies
- Continuously assessing the feasibility of renewable gas procurement
- Developing an ESG vendor governance framework and Supplier Code of Conduct
Supply Chain Management
Responsible Procurement
- Developing an ESG vendor governance framework
- Implementing a Supplier Code of Conduct
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN SDGs, Paris Climate Agreement, Science-Based Targets initiative
Third-party Assurance: Sustainable Advantage (independent evaluation)
UN Sustainable Development Goals
- Goal 3
- Goal 5
- Goal 8
- Goal 9
- Goal 12
- Goal 13
The report details how various initiatives contribute to these goals.
Sustainable Products & Innovation
- Green Mixer