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Author Name: Emma Hau – Marketing Analyst at FreightAmigo
Green living is getting more and more popular. The public is calling for carbon reduction or even carbon removal. As one of the four economic pillars of Hong Kong, the logistics industry also has the responsibility to promote green logistics, in order to achieve sustainable development of global supply chain. But where should we begin with?
What is Green Logistics?
Green logistics is referring to freight solutions that can foster energy saving and zero-carbon emission goals. By selecting a more environmentally-friendly freight modes and efficient freight routes, we can achieve energy saving and emission reduction goals.
Green Logistics Protocols
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Green Logistics Corridors
The Clydebank Declaration is led by the UK at COP26 in Glasgow last November. It is an act of global move to promote green shipping to fight climate change. Signatory states declared their ambition and intent to support the establishment of green shipping corridors, zero-emission shipping routes between 2 ports. Singapore is the recent signatory, joining the declaration in April this year.
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Carbon Neutrality by 2050
According to International Maritime Organization (IMO), the shipping industry is responsible for around 940 million tons of CO2 annually, which is at least 2.5% of the world’s total CO2 emissions. Therefore, many countries called on the IMO to specify the 2050 carbon neutrality goal of global shipping and encourage countries to adopt green logistics as soon as possible.
Green Logistics Benefits
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More Financing Opportunities
To encourage local enterprises to promote green and sustainable development, banks in Hong Kong are introducing green financial products and services, thereby propelling low-carbon and sustainable economic development in Hong Kong. When enterprises are investing on green projects such as green logistics solutions, they can apply green loan under “Sustainable or Green Transport” category.
BOCHK offers “SME Green Financing Incentive Scheme”. Eligible SME corporates can enjoy loan application fee rebate and green assessment or certification from a qualified assessment organization.
HSBC launches “Sustainable Financing Program” to support businesses towards a low-carbon economy. Carbon saving is available in form of cash rebate.
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Attract Foreign Investment
According to a market survey, 85% of investors will consider environmental, social and governance (ESG) elements when investing. It is one of the indicators for evaluating business operation. The concept of ESG first introduced in the “Who Cares Wins” report published by the United Nations in 2004. In comparison, Europe and the United States implemented ESG policies earlier than other regions. Enterprises in these areas are more willing to allocate extra resources to promote sustainable development policies, including multinational companies. Therefore, if an enterprise is willing to implement ESG, it will help attracting foreign investment as well as strengthening its competitiveness.
Green Logistics Approach
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AmiGo Green – Achieve Logistics Carbon Emission Reduction for SME
FreightAmigo is introducing green logistics technology solutions – AmiGo Green. We offer carbon emission calculator, green freight route quotation, digitized shipping document and green logistics technology specialists and consultation for our clients. During logistics procurement, our clients can compare and select green freight solutions with less carbon footprint. They can therefore achieve carbon emission reduction goals easily with our green logistics solutions.
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Reduce Paper Consumption for Sustainable Development
With FreightAmigo, our clients can handle logistics procurement in one single platform. All freight documents are digitized and invoices containing logistics carbon emissions are automatically generated. According to our statistics, after the practice of digitalization, we can reduce the use of over 1 million pieces of paper, which is equivalent to 680 trees. We believe this is a good start to practice green logistics in long-run.
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Prefer a greener logistics solution?
After searching for shipment quotations in FreightAmigo, select in , and you can compare the CO2e of each shipment solution immediately! Let’s Make Trade Greener.
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