Convoy supports SEC-proposed rule with new scope 3 emissions reporting

Freight platform remains committed to net-zero emissions by 2040

Convoy has released a scope 3 emissions reporting tool (Photo: Jim Allen)

Convoy Launches Scope 3 Emissions Reporting Solution

Digital freight platform Convoy has launched a greenhouse gas Scope 3 emissions reporting solution for shippers in anticipation of future regulation from government agencies. The move comes after the US Securities and Exchange Commission (SEC) proposed a rule in March 2022 that would require publicly traded companies to disclose certain climate-related information, including greenhouse gas emissions. The rule is expected to become mandatory by 2024.

New Regulations Prompt Convoy’s Response

After the SEC proposal, Convoy's leadership took the necessary steps to develop a product that could help eliminate the "how" from emissions reporting. Seventy-eight percent or more of U.S. consumers have stated that a sustainable lifestyle is important to them.

Emission Insights Dashboard Provides Real-Time Reporting

Convoy's dashboard for emission insights provides Global Logistics Emissions Council-accredited reports that allow shippers to spend less time reporting and more time focusing on tactical methods to reduce their carbon footprint. Carriers are providing insight into 97% of a load's life cycle, allowing Convoy to acquire the compliance data it requires for accurate reporting, such as distances traveled, carrier fuel efficiency, fuel used, carbon intensity, and total payload.

Detailed Emission Reports Help Shippers Decarbonize

Shippers can use this data not only to report their emissions to various regulatory bodies, but also to use the tool pro-actively to gain insight into the emissions of individual carriers within their network or by shipment type. Corporate Sustainability Analyst at Convoy, Van Waes, stated that "shippers now have the ability to slice and dice their business' emissions data across trailer types, loading types, revenue programs, haul lengths, and time periods, allowing for a better understanding of their scope 3 emissions."

Convoy’s Commitment to Emission Reduction

Providing this solution has been a long time coming in helping to fulfill Convoy’s mission statement of creating “endless capacity and zero waste.” The company is committed to reducing empty miles and eliminating carbon emissions in trucking and has prevented 9.8 million points of carbon emissions from entering the atmosphere to date. Van Waes added that “Additionally, we are committed to operating with net-zero emissions by 2040, 10 years ahead of the Paris climate agreement”.

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