Speedy eco-classification of products
Client challenge
Speedy Hire (‘Speedy’), a leading provider of construction equipment and plant hire services in the UK, identified a critical need to strengthen and independently validate its eco-product classification framework. This framework is used to identify and communicate products with superior environmental performance to Speedy’s customers and underpins Speedy’s sustainability strategy.
The existing framework, developed in-house, required external validation and comprehensive documentation to mitigate risks around transparency, consistency, reputation, and potential compliance. Regulatory scrutiny on environmental claims is intensifying, with frameworks such as the UK Green Claims Code and the Anti-Greenwashing Charter, which Speedy is a signatory of, requiring robust evidence to back statements about sustainability credentials.
For Speedy, eco-classification is more than an internal tool, it is a strategic differentiator that drives major contract wins and guides investment decisions. Furthermore, Speedy has a public target to achieve 70% eco-products within its core service offering, something in which the product classification framework validates each year. Their approach needed to reflect the complexity of environmental performance across diverse product categories and lifecycle stages.
Whilst there is no standardised framework for environmental product classification in the equipment hire industry, with direct competitors and companies in adjacent sectors also adopting in-house methodologies, Speedy was keen to review its methodology to maintain its record as a sustainability leader in the equipment hire sector.
Ricardo solution
To address Speedy’s needs, Ricardo conducted a comprehensive review of the eco-product classification framework. This involved benchmarking Speedy’s approach against both direct competitors in the equipment hire sector and best practices from adjacent industries such as DIY retail, where eco-labelling is more mature due to the consumer-facing nature. The review also included an analysis of relevant regulations and green claims review to ensure the framework aligns with evolving compliance requirements.
In addition, we carried out a quantitative assessment of Speedy’s product portfolio, including revenue and investment data to understand the commercial significance of eco-classified products and identify areas for improvement. Internal stakeholder interviews were conducted to capture operational challenges, strategic priorities, and perceptions of the current system. These insights informed a set of recommendations focused on improving transparency and documentation, introducing lifecycle-based criteria, and the continuous improvement and review of the classification system to better reflect varying levels of environmental performance across varied product categories.
The project also highlighted the need for a closer involvement of the supply chain in the future, to obtain objective product data to inform classification decisions and substantiate environmental performance claims. This supply chain integration and better sharing of product sustainability-related data will be key across different industries.
Results and benefits
Ricardo delivered actionable recommendations to enhance transparency, incorporate lifecycle thinking and improve supplier engagement to strengthen data integrity, and introduce governance processes that ensure credibility and continuous improvement. Additionally, Ricardo supported an updated set of definitions for the eco-products classification.
Implementing these changes will help Speedy maintain regulatory compliance, reduce reputational risk by providing customers with clear, reliable information to make more sustainable choices, and reinforce Speedy’s position as a sustainability leader. This enhanced framework will improve customer trust, continue to support contract wins, and enable informed investment decisions, ultimately driving both commercial and environmental value.
This result and the recommendations will continue to support Speedy’s circularity journey and its already extensive sustainability credentials.
“Ricardo’s work has strengthened a framework that is central to our ambition to lead the UK hire industry in sustainability. Their review gives us the confidence and clarity to push boundaries, accelerate our progress, and continue setting new expectations for what responsible, innovative hire solutions can achieve. This is a key milestone as we move toward a more efficient, sustainable and resilient future”
Andy Connor, Innovation & Supply Chain Director, Speedy Hire