Still, Murphy knows all too well that the fast-growing pool of ESG-focused stock market investors have become increasingly uneasy about the fact that almost 70 per cent of the group’s profits are coming from energy.
When it comes to emissions targets, it’s important to look at what companies are actually committing to. Scope one emissions are released as a direct result of a company’s activities. Scope two includes the nasty stuff that’s pumped into the atmosphere as a result of the generation of energy used by a company. Scope three is the tricky one. This covers all emissions that a business is indirectly responsible for, from suppliers to the consumption of its products and their end-of-life treatment.
DCC’s fast-charging units in that market are delivering 20 per cent returns on investment from get go – and gross margins that are a quarter higher than traditional fuels. It’s also bringing charging units to public parking locations and homes, and is opening a new front in Oslo, where it is developing a multi-storey commercial and residential building with floors of parking space with charging plugs.