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"Trust. Transparency. Transformation.": Geotab's annual sustainability report examines the importance of data insights for managing and measuring sustainability goals
SYDNEY, April 4, 2024 /PRNewswire/ -- Geotab Inc. ("Geotab"), the global leader in connected transportation solutions, today released its 2023 Sustainability and Impact Report, "Trust. Transparency. Transformation." highlighting how data-driven insights are helping Geotab and global organisations better measure and achieve their climate goals. The report also delves into the tougher challenges of managing business and environmental impact, including increased business travel and much-needed transparency associated with Scope 3 emissions.
"The climate crisis demands action. The transportation industry is one of the largest sources of CO2 emissions with a tremendous opportunity in the near term to make a positive impact. As a close partner to that industry, we have a moral obligation to do our part in supporting carbon reduction — not just for ourselves, but for our customers too. This has to be a collaborative approach. There are too many challenges to address and solve in isolation," said Neil Cawse, Founder and CEO of Geotab.
Geotab's greatest impact is in supporting customers and partners to drive transformation through data-driven insights and AI, enabling informed decision-making as they report and track progress on all stages of the sustainability journey. The most recent figures from the Australian Bureau of Statistics show that the number of businesses seeing increased operating expenses was at 46%, a 16% increase from 6 months prior. Data insights regarding fuel use, better routing, emissions management, better driving behavior such as reducing harsh braking, and the integration of EVs into fleets help address cost and improve the bottom line.
As part of its commitment towards a more sustainable world, Geotab has pledged to reach net-zero emissions by 2040 — a decade earlier than called for in the Paris Agreement — and is aiming for a 50% reduction in emissions across Scopes 1, 2 and 3 by 2030.
The progress made
The latest report shows Geotab has made progress in reducing direct and indirect operational emissions over the past year:
Additional highlights from 2023
The challenges we face
Geotab's report identifies areas of improvement which reflect similar challenges experienced in the industry in general:
This underscores the importance of further collaboration with supply chain partners and manufacturers to achieve comprehensive tracking, from raw materials to end-of-life, and greater use of data insights will also help provide more transparency and understanding in addressing challenges.
"We are proud of the accomplishments we've made so far, but we know there is much further to go if we want to fulfill our journey to net zero, particularly in addressing Scope 3 emissions. We'll be accelerating our pace to tackle Scope 3 targets, and tapping into the power of data, to realise our ambitions and the ambitions of our customers," added Cawse.
About the Geotab 2023 Sustainability and Impact Report
The report was prepared with reference to the Global Reporting Initiative (GRI) Standards, as well as the United Nations Sustainable Development Goals (SDGs).
To spark industry conversation on data-driven sustainability strategies, Geotab's 2023 Sustainability and Impact Report includes a custom email, so readers can provide feedback on their own challenges and solutions related to sustainability, supply chain and growth.
To explore the full report, visit: geotab.com/about/corporate-sustainability/
About Geotab
Geotab is a global leader in connected transportation solutions. We provide telematics — vehicle and asset tracking — solutions to over 50,000 customers in 160 countries. For more than 20 years, we have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organisations, to transform their fleets and operations. With over 4 million subscriptions and processing more than 75 billion data points a day, we help customers make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab's open platform and Marketplace, offers hundreds of third-party solution options. Backed by a team of industry leading data scientists and AI experts, Geotab is unlocking the power of data to understand real-time and predictive analytics — solving for today's challenges and tomorrow's world. To learn more, visit www.geotab.com/au/, follow @GEOTAB on X and LinkedIn or visit the Geotab Blog.
Media Contact: Lia Geraissate, liageraissate@geotab.com; Risa Lee, risa.lee@edelman.com
