Attendees at the Multimodal event were advised that forwarders should urgently embrace digital solutions in preparation for upcoming sustainability reporting regulations in the US and EU. It was emphasized that taking advantage of these digital tools is crucial for forwarders to effectively meet the requirements of the new regulations.
Climate regulations
Lionel van der Walt, Chief Growth Officer of Raft, emphasized the importance for forwarders to prioritize finding an emissions reporting method to comply with upcoming climate regulations. He stated that many forwarders are either unaware, don’t understand, or intentionally ignore these regulatory changes. The logistics industry is expected to be significantly impacted by these regulations in the US and the EU. Van der Walt stressed that time is running out for companies to adjust and that collecting, managing, calculating, and reporting ESG data, including Green House Gases, can be overwhelming for forwarders lacking knowledge or resources.
Utilising digital platforms
The US Securities and Exchange Commission is soon expected to introduce final corporate climate disclosure rules, which will mandate listed companies to report comprehensive emissions data, including Scope 3 information. Lionel van der Walt, Chief Growth Officer of Raft, highlighted the importance for Boards and executive teams to utilize digital platforms to ensure comparability, consistency, and improved quality in ESG reporting. Raft has developed a tailored digital solution that grants freight forwarders full control and visibility over their emissions data, enabling them to provide accurate and timely reports. The solution ranges from an integrated emissions calculator tool to automated dataflow integration across various technologies like Transport Management Systems (TMS) and visibility and calculation service providers.
A competitive advantage
Lionel van der Walt emphasized that sustainability reporting goes beyond compliance and can be a competitive advantage for freight forwarders. Utilizing digital solutions to provide accurate and transparent data enables forwarders to enhance customer service, support regulatory requirements, and demonstrate their commitment to sustainability to potential customers, employees, and investors. Van der Walt made these remarks during the ‘Creating a Sustainable Multimodal Future’ panel at Multimodal 2023, where industry experts from various organizations discussed the topic.
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Source: World Cargo News
