23 November 2022
How tech is providing new opportunities to lead on fleet sustainability
Fleet management and telematics companies have the power to help fleets go green
Sustainability has become an urgent business goal for fleets. As well as the need to minimize carbon footprint and demonstrate commitment to climate action, consumer demand is putting pressure on organizations to increase the pace and visibility of their environmental efforts. Fleet management companies (FMCs) and telematics service providers (TSPs) have a unique opportunity to grasp the latest technology and race ahead of the competition in fleet sustainability management.
Sustainability is becoming a necessity in business
The United Nations’ 17 Sustainable Development Goals (SDGs) call for urgent environmental action globally. They also proclaim a shared responsibility of governments and businesses. COP27, the United Nations climate change conference, recently reiterated the need for solidarity to deliver on the landmark Paris Agreement.
Additionally, new global sustainability reporting standards are being developed, with pressure mounting for organizations to reduce and disclose their environmental impact. Many of the world’s most well-known brands have demonstrated their commitment by signing up to the global Race to Zero campaign.
Customers are seeking greener products and services
Sustainability continues to grow in importance for consumers. In an IBM survey conducted this year, 51% of respondents said environmental sustainability was more important to them than it was 12 months ago. And 49% said they’d paid a premium for products branded as sustainable or socially responsible in the last 12 months.
This demand is only set to rise. Yet communicating environmental commitment isn’t always easy. Greenwashing – when companies put more effort into marketing themselves as sustainable than doing anything about it – is currently a hot topic. And consumers are wise to it. For this reason, fleet sustainability solutions that include data and reporting to back up claims are sure to be in demand.
Elevating fleet sustainability to a core offering
FMCs and TSPs know fleets. And for that reason, they already offer comprehensive fleet solutions covering everything from safety to fuel management. Now, fleet sustainability is set to become a business priority.
Some FMS and TSPs already include fleet sustainability in their portfolio. With the latest in artificial intelligence (AI) analytics technologies, they can further strengthen their offerings. For example, Greater Than’s AI analyzes GPS data to identify a driver’s environmental impact in percentage terms, as well as grams of CO2 saved or consumed.
Powerful AI for unbiased environmental insights
Greater Than’s globally unique pattern-AI technology has been trained through over 7 billion real-world trips to accurately identify a driver’s environmental impact and fuel efficiency in real-time. By analyzing driver performance, our EcoScore provides a uniform measurement of eco-driving, regardless of geographical location, fuel type, or vehicle type.
This is particularly beneficial for fleets with mixed vehicle types. Until now, it has been difficult to compare the environmental impact of a car driver versus a truck driver, for example. Providing a clear, transparent picture of eco-performance across the whole organization, EcoScore helps organizations with accurate Environmental, Social & Governance (ESG) reporting.
It’s easy to be at the forefront of fleet sustainability management
For FMCs and TSPs, whose goal it is to provide expertise to solve fleet problems, it is critical to meet changing customer requirements. With a growing number of companies recognizing their sustainability obligations and realizing this can help maximize profits, the demand will soar for solutions that support comprehensive fleet sustainability management and reporting.
With Greater Than’s AI, obtaining deep driver sustainability insights is simple. All that’s needed to get started is 1km of GPS data, which is converted into an individual driver EcoScore. This enables precise identification of a driver’s environmental impact in percentage and grams. It also provides a uniform measurement of environmental impact and solid data for sustainability reporting. Last, but not least, it can be used to incentivize drivers to reduce their carbon footprint.
Written by Jim Noble
GLOBAL DIRECTOR FLEET and HEAD of NORTH AMERICA