SMS to become carbon neutral by 2030
SMS plc, which installs, operates, and manages smart meters and other carbon reduction (“CaRe”) technology assets, has set an ambitious target to become a carbon neutral business by the end of the decade.
The company’s net-zero carbon roadmap, which is to be carried out in line with the Greenhouse Gas (GHG) Protocol and Institute of Environmental Management and Assessment (IEMA) Hierarchy, will be realised through a variety of sustainability measures. This includes increased adoption of renewable on-site generation and battery storage to power the Group’s UK and Ireland estate and the transition of its nationwide fleet to electric vehicles (EVs).
SMS’s net-zero 2030 plan builds on existing efforts to enhance operational sustainability and the low-carbon solutions it delivers to the market. In 2020, SMS mitigated more than 15,000 tonnes of carbon emissions (TCO2e) through the installation of smart meters for energy suppliers, as well as the net-zero strategy and energy efficiency services it carries out for industrial, commercial, and public sector clients. As a result, the company’s net-positive effect on the environment was equivalent to powering 18,500 British homes with 100% clean electricity for an entire year, with a carbon handprint eight times larger than its carbon footprint.1 This achievement was recognised by the London Stock Exchange (LSE) through the ‘Green Economy Mark’, which is awarded to LSE-listed organisations that generate more than 50% of annual revenues through green services.
Alongside smart meters, SMS also finances and delivers other distributed CaRe technology assets – including renewable generation, battery storage, and electric vehicle charging infrastructure – which will be critical for achieving the UK’s net-zero goal and making the energy system more sustainable, flexible, and resilient. Earlier this month, SMS announced its arrival in the grid-scale energy storage market with two new projects to develop a combined 90MW of capacity by the end of 2021.
Commenting on the net-zero announcement, Alan Foy, CEO of SMS, said: “For more than two decades, SMS has played a pivotal role in the ongoing transformation of the UK’s energy system through our services, including the installation of smart meters and our longstanding energy and carbon reduction solutions. To further address the urgency of tackling climate change and the need to limit global warming to 1.5° Celsius, we are today committing to become a carbon neutral company by 2030. Our long-term ambition, however, does not end there. On reaching this net-zero goal at the end of the decade, our aim is to thereafter become a carbon negative business by targeting Scope 3 carbon reductions across our entire value chain.”
1Carbon handprint refers to the positive environmental impacts that organisations achieve through products and services that reduce their customers’ carbon footprints (the total greenhouse gas emissions caused by an organisation through its operations). SMS’s carbon handprint is calculated using verified data from the UK Government’s official smart meter energy-saving research and data from additional energy-saving services delivered to its customers in the private and public sectors.
Visit our dedicated Net-Zero 2030 page for more information on our sustainability efforts as we plan to become a carbon neutral business by the end of the decade.