Redwood Logistics (Redwood), one of the fastest-growing supply chain orchestration and logistics execution companies in North America and innovators of Logistics Platform as a Service (LPaaS), announced today that Redwood Hyperion, Redwood’s proprietary sustainability and carbon tracking tool, was awarded a Sustainable Product Award from SEAL (Sustainability, Environmental Achievement & Leadership). Redwood Hyperion provides a customizable suite of carbon visibility, offsetting, reduction and reporting tools, meeting shippers wherever they are in their sustainability journey – providing actionable insights to help reach their goals.
“Generally, shippers are in the early stages of their emissions accounting journey or may just be beginning to measure their Scope 3 emissions,” said Mike Reed, Chief Product Officer, Redwood. “By going directly to source data and using GLEC (Global Logistics Emissions Council) standard calculations, the most trusted global freight emissions calculation framework, Redwood Hyperion can provide a more accurate view of freight emissions across all modes of transportation. We’re honored to be recognized by SEAL for this timely innovation.”
The EPA reports that 29 percent of U.S. greenhouse gas (GHG) emissions are due to transportation, with about 12 percent of emissions directly attributed to freight and logistics. To combat this trend, Redwood Hyperion automates detailed load-by-load emissions calculations, provides daily supply chain emissions metrics and analytics, and supports carbon-neutral initiatives by facilitating carbon credit purchases toward verified projects.
Redwood Hyperion comes with a comprehensive suite of carbon tracking and data tools through RedwoodConnect™, Redwood’s proprietary iPaaS platform, which enables the integration of digital and physical supply chains. Redwood’s managed services offerings are also available to customers under the Redwood Eco Advisory framework to help shippers enhance supply chain efficiency via measurable emission reductions and reduced freight costs.
“Redwood’s customer survey from 2022 showed that the leading motivators to invest in sustainability over the next five years were increased regulation with 58 percent of respondents, and even greater, consumer sentiment at 60 percent,” added Reed. “By leveraging Redwood Hyperion, not only are shippers getting ahead of potential Scope 3 emissions reporting mandates, but they’re also becoming better partners to their customers as well.”
With Current European Union law and the Corporate Sustainability Reporting Directive (CSRD), approximately 49,000 companies may be required to report on environmental factors. In the United States, the proposed SEC climate disclosure policies would require Scope 1, 2 and ultimately Scope 3 emissions reporting, which captures upstream and downstream emissions associated to a company’s value chain. Redwood Hyperion affords shippers with detailed insights and visibility into their freight GHG emissions, allowing them to meet legislative requirements and inform their customers.
“Companies have a unique opportunity and responsibility to drive environmental progress where politics cannot,” said Matt Harney, SEAL Awards’ founder. “Our corporate sustainability awards celebrate organizations that embrace the responsibility to effect positive change.”
The SEAL Sustainable Product Award specifically recognizes applicants based on impact metrics, innovation/uniqueness of the product and its ability to inspire sustainable change.
For a complete list of 2022 SEAL Business Sustainability Award winners, visit https://sealawards.com/sustainability-award-2022/