Leading freight marketplace facilitates CO2 visibility to decrease freight’s carbon footprint responsible for 7% of global emissions
Hong Kong -Freightos, the LogTech company bringing international freight online, today announced that every shipping service offered on the Freightos Marketplace will include a transparent CO2 footprint estimation. Freightos also announced a suite of free CO2 calculation tools enabling customers or third-parties to optimize route and mode selection with live international CO2 footprint calculations. By incorporating CO2footprint calculations in-line with freight quote options, as well as offering both a free API and embeddable CO2 calculator, Freightos is enabling enhanced visibility of carbon emissions per shipment, continuing Freightos’ mission to introduce transparency to the opaque global shipping sector.
As an example, a freight consignment of 200kg from Shanghai to London will produce 1.1 tonnes of CO2 by air cargo and just 0.02 tonnes (20kg) of CO2 by ocean.
Spurred by the desire for cost savings and the sustainability goals of the Paris Accord, the movement towards greater environmental awareness has expanded to include the freight industry. With international trade-related freight transport responsible for nearly one-third of global carbon emissions from transport, this area is primed for much needed carbon reduction technology and mechanisms. Freightos’ implementation of this technology highlights its dedication to innovation within logistics, seizing the opportunity to help companies be more responsible to their environment and improve operational efficiency while doing so. “Based on OECD data, international trade-related freight transport accounts for a full 30% of all transport-related CO2 emissions from fuel combustion, and more than 7% of global emissions,” said Glen Schwaber, Partner and Co-founder of ICV, an early stage tech VC fund focused on sustainability and resource efficiency. “Accurate, transparent calculations of carbon footprint within supply chain and logistics is an increasingly critical element for companies with aggressive sustainability goals. It’s thrilling to see our portfolio company Freightos enable simple tracking of international shipping emissions.”
Green freight updates include:
- CO2 footprint results in every Freightos Marketplace freight quote
- Free embeddable freight carbon calculator
- Free API returning estimated CO2 footprint based on cargo route, dimensions and mode
“Our mission at Freightos is to make freight shipping transparent in every aspect, and that, of course, includes visibility into its environmental impact,” said Dr. Zvi Schreiber, CEO and founder of Freightos. “Large shippers and logistics companies are introducing sustainability targets, but transportation is often the most opaque part of global supply chains. We’re proud to support sustainability targets and bolster environmental awareness and accountability in industry by providing the necessary tools for our customers to manage their carbon footprint. After all, what good is transparency if you can’t see through the smog?”