SYNETIQ, an IAA company, has become the first vehicle salvage, dismantler and recycler in the UK to introduce carbon labelling for its green parts.

The new labels, aimed at helping customers understand the environmental savings that green parts offer, are available on product listings on the SYNETIQ website and are included on invoices.

The biggest savings consumers can make is from car door replacements. Green doors from SYNETIQ use 92% less carbon compared to their newly manufactured equivalent.

“Introducing carbon labelling aligns with SYNETIQ’s goal of creating awareness around the impact of carbon emissions and the benefit of reducing them through the utilization of green parts,” said Tom Rumboll, UK Managing Director for IAA and CEO of SYNETIQ. “Transparency and full disclosure about the carbon savings associated with green parts will help educate and inform our customers so they can understand the difference they’re making by choosing to reuse parts over buying them new.”

Many of SYNETIQ’s existing clients are already benefitting from the bespoke carbon reporting that the business offers. Now, SYNETIQ are expanding their focus to include consumers. Carbon labelling is becoming more commonplace in consumer food and beverage markets, with many brands adopting labels to help consumers make more informed choices.

Rumboll continued: “We hope that in the long-term, green parts will become the standard option for vehicle repairs. Introducing carbon labelling is the next step to raise awareness within the consumer market that green parts can  reduce repair costs and are better for the environment.”

In 2022 alone, SYNETIQ have supported saving an estimated 4.36 million kilograms of CO2e through supplying green parts – equivalent to charging 530 million smartphones.

In collaboration with independent circular economy specialists Oakdene Hollins, SYNETIQ adopted a science-led approach to calculate the carbon footprints for the green parts. Vehicle movement across SYNETIQ’s entire operational process was studied, with energy usage allocated to each step of the process to calculate the CO2 emissions. This data is compared to a newly manufactured part through modelling the energy used in the manufacture of a new part, including the extraction of raw materials.

The launch of SYNETIQ’s carbon labels is the latest step on Our Road to Tomorrow, SYNETIQ’s roadmap to become a net-zero business and strategy to support everyday drivers become more sustainable.

Forward-Looking Statements

 

IAA Holdings, LLC (as successor to IAA, Inc.) (“IAA”), a leading global digital marketplace connecting vehicle buyers and sellers, is now a subsidiary of Ritchie Bros. Auctioneers Incorporated.  This release includes forward-looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). Forward-looking statements may include statements relating to future events and anticipated results of operations, business strategies, the expected timing and associated benefits with respect to the announcement of the Carbon Labelling  on Green Parts and other subjects of this release on our business and plans regarding our growth strategies, and to our customers and company generally, and other aspects of RBA’s or IAA’s respective businesses, operations, financial condition or operating results and other statements that are not historical facts. Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” “could,” “can,” “intends,” “target,” “goal,” “projects,” “contemplates,” “believes,” “predicts,” “potential,” “continue,” “foresees,” “forecasts,” “estimates,” “opportunity” and similar expressions identify forward- looking statements. 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