SiteTrax highlights ESG and how these important guidelines complement the newest visibility technologies without impacting the bottom line.
Many investors, consumers, and stakeholders are increasingly considering ESG performance (Environmental, Social, and Governance) when evaluating companies. When it comes to the supply chain, ESG factors are manifold. While the momentum of virtually all areas of the supply chain is moving to include these practices, companies often find it hard to achieve all of their goals purely from a cost and resource standpoint.
A key consideration to enhance ESG practices and policies is finding technologies and processes that not only avoid negatively impacting the bottom line, but can help create revenue through increased accuracy, efficiency and critical decision making clarity. That is why future focused companies like SiteTrax are poised to help make promoting ESG practices as simple as touching a button on a smartphone so that ESG is E-A-S-Y.
Environment
The “E” in ESG encompasses elements about the environment including factors such as energy efficiency, carbon footprint, waste management, and use of renewable resources in the production and operation of technology. A huge part of the supply chain is the fuel that powers the engines that move products. Whether it be via land or sea, assets are continually being transported which ultimately affects the environment.
Truck turnaround times, idling at a location, or burning fuel traveling on a cargo ship are all links in the supply chain that have an impact on the environment. However, cutting-edge technologies like SiteTrax can easily help companies address areas of significant waste and carbon emissions. By providing near real-time asset tracking, SiteTrax inherently helps businesses improve the environment.
As an example, for just one yard that sees 50 trucks in a day, SiteTrax on average helps reduce over 100,000 pounds of CO2 annually simply by enhancing truck turnaround time. One small change creates a giant ripple effect that delivers a huge impact.
Social
Social considerations include how technology affects people and society at large. This includes issues such as data, labor practices, and the societal implications of technologies like automation and artificial intelligence. By providing transparency and clear digital records, SiteTrax intermodal visibility helps companies reach their goals for ethical sourcing and accountability.
Likewise, the game-changing technology has a positive impact on labor practices and improves work-life balance by boosting efficacy and reducing unnecessary manual tasks.
Moreover, this enhanced visibility also plays an integral part in helping prevent the scourge of human trafficking.
Governance
Governance refers to the corporate governance structures and practices within companies. It involves aspects such as transparency, accountability, ethical decision-making, compliance with regulations, and the management of risks related to cybersecurity and data.
As technology advances, governance becomes an even larger focus. SiteTrax delivers near-real-time data that allows companies to make better-informed decisions that ultimately impact not only the bottom line but also the company’s overall governance. Or as SiteTrax puts it, “Good data powers good governance.”
By including SiteTrax technology, businesses will have foundational data that is both reliable and accurate for clear and ethical decision-making and meeting government regulations.
The ESG AdvantageSiteTrax provides the unique ability to include ESG capabilities while reducing costs and adding ROI. What’s more, today’s businesses understand that when it comes to ESG, it’s better to be proactive and prepare for future regulations than to be left scurrying to catch up. With affordable, easy-to-use, and reliable data provided by SiteTrax, the supply chain has the tool to target ESG today and be better prepared for business tomorrow. Contact us to find out how SiteTrax can help you meet your ESG goals today!
