Monday, July 22, 2024

Ofload launches first Australian emissions tracker to accelerate decarbonisation of supply chains

Australian digital road-freight provider Ofload has launched its Carbon Analytics Platform (CAP), the country’s ‘first’ fully automated solution for companies to measure carbon output through their supply chain. The “ground-breaking” tool comes ahead of expected regulation from the Australian Government mandating carbon emissions reporting.

Supply chain emissions are widely recognised as a key contributor to the environmental impact of commercial activities. “The freight and logistics transport sector in Australia contributes 38% of Australia’s transport emissions (Heavy Vehicle Industry Aus). And with Australia’s population boom and the rise of online shopping this is forecast to grow significantly,” according to the company.

Amid these challenges, Ofload’s Carbon Analytics Platform, the only tool of its kind in Australia, emerges as a decisive innovation. “It offers businesses the insights needed to measure and subsequently reduce their logistics emissions, paving the way for enhanced operational efficiencies and a more sustainable future.”

The CAP solves the significant technical challenges for businesses to achieve this. It utilises data analytics to measure various criteria, including freight distance, vehicle type and age, load factors, and fuel consumption impacts, using the Global Logistics Emissions Council Framework.[1]

Originally planned to align with the Australian Government’s anticipated carbon-related financial disclosure requirements, which are currently going through Parliament, Ofload’s CAP has attracted significant interest from businesses keen to proactively address environmental stewardship and demonstrate commitment to environmental impact assessments, regardless. “The Platform has already measured the carbon output for companies moving goods over more than 21 million KMs of supply chains.”

Commenting on the launch of Australia’s first carbon measurement tool, and Ofload’s broader commitment to fostering sustainability, Ofload founder and CEO Geoffroy Henry says: “Many companies are looking for ways to decrease the environmental impact of their operations, particularly in logistics, in response to demand from their customers and investors. Our transformative technologies – from our carbon analytics platform, to our digital freight capabilities and other initiatives eliminating waste through the supply chain – give customers the tools they need to achieve these sustainability goals and gain a competitive advantage.”

“Regardless of the specific requirements of the Australian Government’s forthcoming carbon disclosure requirements, they will naturally burden small businesses that form part of major supply chains. When it comes to logistics, the CAP reduces both the cost and complexity of compliance for major brands and small businesses alike.”

A tool for tangible change 

This proactive approach to sustainability, facilitated by the Ofload Platform, provides businesses with a competitive advantage by aligning with the increasing demands of environmentally-conscious stakeholders. Businesses can demonstrate and implement a tangible commitment to sustainability, meeting the expectations of many customers, investors and employees. Companies are also benefiting from the resultant operational efficiencies, reduced costs, and enhanced financial performance enabled by the Platform.

For many companies, Ofload’s CAP is currently the only way they can accurately measure carbon output through their supply chain.[2]

The Platform meets the government’s current specified Scope 3 requirements, with companies only needing to download an Ofload report to comply.

The CAP has already been adopted by companies including Noumi, Metcash and Kimberly-Clark.

Ofload raises A$31M financing to support product rollout and wider business growth

Ofload has also successfully closed a A$31 million financing, led by Yarra Capital Management, with King River Capital and Jungle Ventures also reinvesting. This latest funding round values Ofload at A$350M, representing a valuation increase of more than 200% in under two years. This significant growth has been driven by strong ongoing customer and revenue growth, and expansion of the business – including the acquisition of transport management company MF Freight in 2023.

The additional capital will support the ongoing roll out of the CAP tool and accelerate further technological development of the product, promising even greater precision and depth in carbon footprint assessment.

Geoffroy Henry said: “We are delighted by the level of appetite and support for Ofload’s continued growth and its mission of transforming Australia’s supply chains for a greener logistics industry. This round will further fuel our efforts to help businesses achieve efficient, flexible, and sustainable supply chains and to reach zero waste in logistics.”

Ofload customers already using the Carbon Analytics Platform commented:

“Noumi is pleased to be a part of the industry-wide push for a reduced emissions freight ecosystem in Australia. Ofload’s CAP is obviously a key enabler to measure where we are now and how close we are towards our goal.”

“Metcash Primary Freight Transport is excited to collaborate with Ofload on a journey toward net zero. We’ve been thoroughly impressed by the remarkable capabilities of their carbon analytics platform and firmly believe it ranks among the best in class for emissions reporting within the industry.”

[1] The Global Logistics Emissions Council Framework is a comprehensive methodology for measuring and reporting greenhouse gas emissions across the logistics sector, with globally accredited guidelines to enhance transparency and accountability in environmental performance.

[2] For all consignments shipped on the Ofload platform.

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