Forto commits to setting science-based net-zero targets
Forto, the first European digital freight forwarder, today announces its commitment to setting science-based net-zero targets, in line with the Science Based Targets initiative and the Business Ambition for 1.5°C campaign. In joining Business Ambition for 1.5°C, Forto has also become part of UNFCCC Race to Zero, a UN-backed campaign.
The Science Based Targets initiative sees transportation as one of the key sectors in need of emissions reduction. The logistics industry accounts for 8% of global greenhouse gas emissions and will become the highest emitting industry by 2050 unless action is taken. According to the United Nations, sustainable transport has the potential to deliver savings of US$70 trillion by 2050 when considering full transport costs including fuel, operational expenses, losses due to congestion, and vehicles.
Since its foundation in 2016, Forto has been measuring and offsetting its own greenhouse gas emissions. More than 70% of Forto’s electricity globally comes from renewable energy sources. As part of the process to reduce the company’s environmental impact, Forto has introduced several measures including default train travel within countries where the company is operating and vegetarian catering in all its offices, thereby reducing its emissions by 47% compared to a meat-based diet. Forto customers have also had the option to compensate for their transport emissions since 2021. More recently, Forto also announced partnerships with Hapag Lloyd and Goodshipping to give customers the option to reduce 100% of their transport emissions by using biofuel. In Q1 2023, Forto has almost doubled its biofuel customer base against 2022. All in all, Forto supports more than 60% of its customers in taking climate action.
“Global trade remains a key driver of prosperity. But as part of an industry with a significant environmental impact, our contribution is essential to meeting the goals of the Paris Agreement. By announcing that we are joining the Science Based Targets initiative today, we are demonstrating a concrete, public, and verifiable sustainability commitment to society and to the many customers who are calling for net zero supply chains”, said Michael Wax, CEO at Forto.
While there is an urgent need to contain climate change by reducing emissions today, it is equally important to consider all dimensions of sustainability including environment, labor and human rights, ethics, and sustainable procurement. This is why Forto has just completed an assessment with Ecovadis, a leading provider of sustainability ratings for global supply chains.