A Climate of Change
In March 2005, Radio Taxis Group became the world’s first Carbon Neutral taxi company. In the competitive arena of modern business, a decision with such significant consequences for Radio Taxis Group, members of staff and over 2000 drivers had to be driven by more than philanthropic ideals.
Change was initiated by research. Findings suggested that the public wished to buy from sustainable companies. Environmentally aware organisations were seeking to work with like-minded entities and investors actively sought opportunities for involvement with those on the leading edge of progress.
The conclusion was clear. Going green is good for business.
Adopting Carbon Neutrality is not for the faint-hearted. It demands commitment, focus and a willingness to change. Radio Taxis has set the pace and our business partners have followed, reaping a broad range of financial, social and environmental benefits by introducing CSR (Corporate Social Responsibility) policies of their own.
The New Currency
Carbon neutrality is a complex undertaking. Each business is assessed for the emissions it produces, otherwise known as a Carbon Footprint. An independent assessor determines carbon tonnage and recommends methods of reducing that figure or recycling if possible.
However, assessment is not enough. Organisations must also match their surplus emissions with ‘offsets’ - e.g. financial investments in projects that will positively benefit the environment.
For major organisations with large tonnage deficits, the challenge of reducing their carbon footprint is intensified by the scale of investment demanded in offset ‘credits’. Having consulted our clients, Radio Taxis devised an alternative.
Radio Taxis’ investments in renewable energy projects are detailed below. By working with Radio Taxis - which has already offset emissions by investing in these projects - organisations are not producing a carbon footprint themselves. They have nothing to offset in regard to ground transportation!
Radio Taxis’ proactive approach to emissions has created commercial relationships with many high profile organisations - HSBC, Bank Of England, Freshfields, BNP Paribas, J Walter Thompson. Green has become the new business currency and working with Radio Taxis is helping high-profile organisations realise their own CSR objectives.
Renewable Energy Projects
Not all offset projects are equal. Few are monitored, fewer still are subject to rigorous assessment. All of Radio Taxis’ offset projects meet the very highest standards, not only satisfying the exacting criteria of the Carbon Neutral protocol but independent verification by accountants KPMG.
Projects include:
a) Methane Capture Projects, USA
Methane has 21 times the global warming potential of CO2. This project uses a compressor to direct methane from a defunct mine in the Applachian Basin to a flare. Burning one molecule of methane in this fashion produces two molecules of water and one molecule of CO2. The project will reduce emissions by 133,000 tCO2 equivalent by 2010.
b) New Zealand Wind
Located north of the Manawatu Gorge in New Zealand, Te Apiti is a wind farm that generates enough power for 45,000 homes. Reducing greenhouse gases and other harmful emissions, New Zealand Wind has achieved Gold Standard certification.
c) Hydropower, Bulgaria
This scheme uses ‘run-of-river’ technology, eliminating any necessity for environmentally harmful dams. Hydropower produces between 12-14 GWh of renewable electricity annually and is forecast to reduce emissions of greenhouse gas by 10,000 to 13,000 tCO2 per year.
Going Forward
The Mayor has stipulated that all taxis in London must be Euro 3 compliant by summer 2007. Owners of vehicles that fail to reach such standards must either instal a replacement catalytic converter or invest in a new model.
Radio Taxis is working to a higher standard still. Pioneers in the search for alternatives to fossil fuel, Radio Taxis has investigated options ranging from compressed natural gas to hybrid vehicles.
Perseverance has paid dividends. In August 2007, Radio Taxis will introduce a new form of biodiesel - the ultimate green fuel.
Exclusively available to Radio Taxis Group drivers, the 30% biodiesel blend will deliver an increase in MPG of 10%, exceed the Mayor’s specifications for tailpipe emissions and significantly extend the life of vehicles. Authenticated by Millbrook (Europe's leading commercial test and validation centre), the new fuel also reduces harmful PM10 particles by 42%.
Quotes
‘Radio Taxis is proud to be the world’s first carbon neutral taxi company. None of our competitors are doing anything meaningful in this area and achieving this goal has been a long-term objective for the company’.
‘It is extremely gratifying that so many clients have switched to Radio Taxis because of our green credentials. Working with a taxi company that is carbon neutral is a great way of offsetting your carbon emissions and we intend to remain at the forefront of efforts to clean up London’.
Michelle Nunan, Head Of Group Marketing, Radio Taxis
‘Our long-term commitment to reducing tailpipe emissions will not stop with biodiesel. Over and above this, we are looking into hydrogen technology. Everything that can be done in the area of Carbon Neutral activity will be done. It is a nice feeling to know that we are making a real difference to climate change’.
Tom Scullion, Manager Driver Services, Radio Taxis
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