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InfraRed Capital Partners portfolio company HS1 unveils plans to become carbon neutral by 2030
High Speed 1 (“HS1 Limited”), the UK’s high-speed railway link to the Channel Tunnel, majority-owned by funds advised and managed by InfraRed Capital Partners Limited (“InfraRed”), including HICL Infrastructure PLC (“HICL”), has announced a new sustainability strategy with a view to becoming carbon neutral by 2030. As part of this sustainability strategy, the concessionaire for the infrastructure, HS1 Limited is aiming to become the first UK railway to run solely on renewable energy, with trains powered by wind and solar energy. It has now secured the necessary Renewable Electricity Guarantee of Origin (REGO) certificates from its energy supplier, npower, enabling it to report zero-carbon emissions for the electricity used to power trains and stations.
HS1 Limited is also working with its operators, Eurostar and Southeastern High Speed (LSER), to reduce the carbon footprint of every passenger by 25% and to cut energy per train journey by 10% by 2030. HS1 Limited will report progress on its sustainability strategy in its annual report, focusing on the well-defined targets in the priority areas of climate change, energy use, resource use & waste impacts, social impacts, biodiversity and transparency.
Harry Seekings, InfraRed’s Head of Infrastructure, commented: “We commend HS1 Limited on the release of its new sustainability strategy, which clearly articulates the key targets that the company has put in place to achieve its ambitious objective of being the most sustainable option for transport from the UK into Europe. We are looking forward to working with HS1 Limited to support the attainment of these targets, particularly in relation to becoming carbon neutral by 2030, as this closely aligns with InfraRed’s own sustainability objectives, one of which is to support United Nations Sustainable Development Goal (UN SDG) 13 (Climate Action).”
Dyan Crowther, HS1 Ltd’s Chief Executive Officer, added: “HS1 is the Green Gateway to Europe. Through our sustainability strategy we are helping consumers reduce their carbon footprint while still enjoying safe, fast and reliable travel at home and abroad. As the UK’s only high-speed railway, we already deliver phenomenal environmental benefits to the UK and beyond, offering a more environmentally friendly alternative to cars and planes.”
Alongside the carbon emissions already avoided through train travel, HS1’s international high-speed services currently avoid around 750,000 tonnes of carbon dioxide emissions per year compared to air travel, which is the equivalent of 60,000 short-haul flights. Its domestic services remove 6,000 lorries and cars from the roads every year.
For the full version of the HS1 sustainability strategy please follow this link: https://highspeed1.co.uk/about-us/sustainability.
About High Speed 1
HS1 Limited has the 30-year concession to own, operate and maintain High Speed 1 (HS1), the UK’s only high-speed railway, as well as the stations along the route: St Pancras International, Stratford International, Ebbsfleet International and Ashford International.
HS1 is the 109km rail line between St Pancras International in London and the Channel Tunnel and connects the international high-speed routes between London and Paris, London and Brussels and London and Amsterdam, as well as the domestic route from London to Kent.
In July 2017, HS1 Limited was acquired by a consortium comprising of funds advised and managed by InfraRed Capital Partners Limited and Equitix Investment Management Limited.
About InfraRed Capital Partners
InfraRed Capital Partners is an international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Sydney, Seoul and Mexico City. With more than 190 professionals, it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed Capital Partners is authorised and regulated in the UK by the Financial Conduct Authority.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community.
InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has been awarded triple A+ score in 2019 PRI assessment. InfraRed’s sustainability programme is aligned with the United Nations (UN) Sustainable development Goals (SDGs) framework. InfraRed proactively works with its portfolio companies to make a positive contribution to the SDGs they have chosen to support.
Effective from 1 January 2019, InfraRed is a certified CarbonNeutral® company in accordance with The CarbonNeutral Protocol.*
*The CarbonNeutral Protocol was created and is managed by Natural Capital Partners. First developed and published in 2002, The Protocol is revised and updated annually to reflect developments in climate science, international policy, standards and business practice. The Protocol is updated annually with input from an Advisory Council of external experts to ensure it reflects the latest industry and scientific best practice. Further information can be found on the following webpage: www.carbonneutral.com/protocol.
About HICL Infrastructure PLC
HICL Infrastructure PLC (“HICL” or the “Company”, and together with its subsidiaries the “Group”) is a long-term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange.
Further details can be found on the HICL website www.hicl.com
