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Algeco and Modulaire Group publish latest global sustainability report

ALGECO parent company, Modulaire Group has published its global sustainability report. It details how the global business has placed sustainability at the forefront of strategy and decision-making.

Titled ‘Sustainable modular solutions for a fast-moving world’, and prepared in accordance with UN SDGs (sustainable development goals), TCFD (task force on climate-related financial disclosures) and UNGC (United Nations global compact) standards, the report discusses Algeco’s roadmap to net zero, its wider ESG strategy and KPIs to measure progress.

Modulaire Group is a provider of modular services and infrastructure, offering what it describes as flexible, cost-effective, high-quality and timely solutions to help customers in various end-markets

efficiently meet their needs for space and remote accommodation. The group operates under the Algeco brand across the UK and Europe, where it’s one of the longest established brands in the modular and offsite construction industry.

The document sets out the group’s strategy’s three key pillars: environment, social and governance (ESG), with circularity, adaptability, and leasing at the core. Its ‘loops within loops’ model is at the heart of the strategy, which employs circular economy principles to minimise waste throughout its whole operations and activities.

In terms of the environment, with the report the group has published a detailed roadmap of actions to 2028, which it will then scale up and add future innovations. It aims to achieve net zero carbon within an end-to-end supply chain before 2050. Key elements include the drive for energy, water and waste reduction within its own operations, as well as its customer solutions. 

Social responsibilities in the report are focussed around enhancing employment practices to ensure a safe and inclusive environment for all its people.

Commitments to further strengthen the Algeco and Modulaire approach to governance involve a strong compliance focus around code of ethics, anti-corruption and equality throughout the whole supply chain. Setting out the strategy today, across the globe, in a publicly available document indicates the transparency that the group is committed to in sharing its approach to climate-related risks and opportunities going forward.

Mark Higson, group chief executive officer of Modulaire Group, said: ‘I’m convinced that by taking positive action and advancing the ESG Sustainability Strategy in 2022 and beyond we will achieve change at scale to benefit our stakeholders.’

He added: ‘We see sustainability both as a responsibility and an opportunity for our business. I firmly believe we have an opportunity to help our customers reduce their GHG emissions through our sustainable products and services. Our portfolio of products and services are already becoming more strategically focused on serving high-growth, sustainable end markets.’

Inder Poonaji, director of ESG and Sustainability, said: ‘Sustainability is embedded in our purpose and is fundamental to everything we do at Algeco. Our approach is based on the principle that we must do social and environmental good, while providing a strong return for our shareholders and customers.’

He added: ‘This report helps our investors, partners, employees, and customers understand more about how we are growing our business and developing in an inclusive, environmentally conscious way.’

Algeco and the Modulaire Group employ more than 4,400 people working across 24 countries. It says it’s committed to supporting the UNGC and broader society. The group is wholly owned by Brookfield Business Partners LP, a major global investment company, which acquired the group in quarter 4 2021.

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