The Science Based Targets initiative sees transportation as one of the key sectors in need of emissions reduction.
Among the companies in the logistics sector to have joined the initiative are Maersk, CMA CGM, InPost, Royal Mail, Deutsche Post DHL Group, An Post, bpost, Canada Post, Australia Post, Austria Post, DB Cargo UK, SAP SE, Clipper Logistics, Bolloré Logistics and EV Cargo.
Forto says the logistics industry accounts for 8% of global greenhouse gas emissions and will become the highest emitting industry by 2050 unless action is taken.
According to the United Nations, sustainable transport has the potential to deliver savings of US$70 trillion by 2050 when considering full transport costs including fuel, operational expenses, losses due to congestion, and vehicles.
Forto says it has introduced several sustainability measures including default train travel within countries where the company is operating and vegetarian catering in all its offices, thereby reducing its emissions by 47% compared to a meat-based diet.
Forto customers have also had the option to compensate for their transport emissions since 2021. More recently, Forto also announced partnerships with Hapag Lloyd and Goodshipping to give customers the option to reduce 100% of their transport emissions by using biofuel. In Q1 2023, Forto has almost doubled its biofuel customer base against 2022.
“Global trade remains a key driver of prosperity. But as part of an industry with a significant environmental impact, our contribution is essential to meeting the goals of the Paris Agreement. By announcing that we are joining the Science Based Targets initiative today, we are demonstrating a concrete, public, and verifiable sustainability commitment to society and to the many customers who are calling for net zero supply chains,” said Michael Wax, CEO at Forto.
The Science Based Targets initiative states that its approved targets provide a clearly-defined pathway for companies to reduce greenhouse gas (GHG) emissions, helping prevent the worst impacts of climate change and future-proof business growth.
Targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement – limiting global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.