Fleet Advantage Offers Emissions Scorecards for Earth Day 2022
APR 21, 2022 - 7:20 am
It is estimated that over a billion people participate in Earth Day every year, making it the largest secular observance in the world. Fleet Advantage recognizes Earth Day’s 2022 by offering complimentary emissions scorecards for corporate transportation fleets in its ongoing efforts to promote more eco-friendly operations.
Fleet Advantage was founded in 2008 with the goal of developing solutions to significantly reduce emissions using a sustainable fleet modernization program. The company has introduced breakthroughs including emissions scorecards, early truck EXchangeIT® program, and financial flexibility to acquire use of clean-diesel engines more frequently as the emission technology advances.
Fleet Advantage customers operate fleets with lower cost per mile, a reduced carbon footprint and improved safety and driver morale by maintaining their fleet’s average life at about two to three years. This helps compliment ESG strategies for its customers in their goal to report to regulators and critical stakeholders. The company’s data analytics have proven that switching from an eight-year truck life cycle to a four to five-year life cycle nets an average fleet reduction of 2.5 million gallons and 25,000 metric tons of CO2. According to the IEA, global energy-related carbon dioxide emissions continued to rise by 6% in 2021, their highest ever level.
In March, Fleet Advantage announced a new program to help corporate truck fleets certify their greenhouse gas emissions (GHG) output, as recently mandated under a proposed rule issued by the Securities and Exchange Commission. Fleet Advantage is the only finance lessor that has been certifying such measures for a decade with a focus on tractor trailer fleets that operate high annual mileages.
“We are extremely proud of the commitment and dedication we’ve had in investing in our planet by leading the industry toward a reduced carbon footprint while continuing to help drive America’s businesses forward,” Katerina Jones, vice president of marketing and business development for Fleet Advantage, said.
Through the efforts of Fleet Advantage, the transportation fleet industry is paying closer attention to their truck’s life cycles to understand where they can drive sustainability measures by optimizing replacement cycles. Rather than extending the truck’s use for several years, companies are leveraging fleet modernization studies and Fleet Advantage’s emissions scorecards, that scrutinize truck’s performance data and economic factors to determine an optimum procurement and disposal strategy.
As part of the comprehensive fleet modernization study, the emissions scorecard reviews the entire fleet by year, make, model, and compares fuel and mileage data and provides detailed information on CO2 reduction in metric tons and gallons of fuel saved, each time the truck was replaced, as well as forecasted savings.
Nature abhors a vacuum. Equipment finance abhors bankruptcy. Whether in securitized or large, single-asset financings, financiers structure transactions to be “bankruptcy remote.” This article will discuss a December 2021 bankruptcy court bench ruling that found certain protective provisions to be... read more
The current environment for funding sources is marred by many of the same challenges facing the greater equipment finance industry, with supply chain constraints, geopolitical tension and soon to be increasing interest rates among the many factors playing into the... read more