With sustainability in mind, it is becoming easier to measure Environmental, Social and Governance (ESG) criteria to create a holistic view of a business.
These three factors are becoming increasingly critical in business as investors, shareholders, and potential partners use ESG to identify risks and growth opportunities before deciding if this is the kind of operation, they want to do business with.
While ESG is a relatively new term, it has, in fact, evolved from other historical movements which have for many years focused on health and safety issues, pollution reduction and corporate philanthropy and as before a significant component of ESG is a business's relationship with the environment and the strategies they have in place to reduce its impact on the environment.
As a result, businesses now have a responsibility to apply these principles and improve on these aspects where they can. However, there is currently no standardised approach to calculating or presenting these different ESG metrics, and investors can employ a variety of analytical approaches and data sources to address ESG considerations.
While there is still uncertainty on the calculation or presentation of these metrics, what is clear is the increased need for good data on all facets of a business because it is only possible to control or improve on factors that can be measured.
Ctrack’s Crystal software is the perfect partner for any business that utilises vehicles or movable assets and wants to improve their environmental impact. Ctrack's 35 years of experience in the field of telematics and fleet management sees them utilise a well-developed hardware and software ecosystem to give their customers quality data that is easy to understand and base their decision-making on.
"Crystal can utilise our existing hardware and software solutions to effectively assist businesses in measuring and improving on various environmental, social and governance parameters," says Hein Jordt, Chief Executive Officer of Ctrack Africa.
This newly developed, cutting edge, software has the capability to utilise OEM vehicle fuel data, as indicated on the vehicles specification sheet, allowing for the reporting of carbon emissions. Fleet managers can monitor their fleets' C02 by setting up their fleets' emission factor in Crystal and then monitoring performance via emission reports. This allows for the retrospective calculation of a fleet's carbon footprint, giving fleet managers an accurate picture of their past and current impact on the environment as well as the tools to improve going forward and helping to identify opportunities to save energy and reduce costs.
"CO2 emissions are directly related to mileage travelled and the manner in which vehicles are used, and Ctrack has well-developed solutions in place to monitor and improve on these factors," says Jordt.
The tools that Ctrack have in place to save businesses costs on fuel and maintenance can just as easily be used to monitor and control various factors related to ESG principles. Fuel consumption will be reduced by managing factors such as unnecessary speeding and idling. The more fuel efficient a vehicle is, the less carbon emissions it produces, which ticks the environmental box.
Fuel consumption is easily managed by speed limiting, and Ctrack can also monitor speed in a variety of ways, including map speed, a predetermined speed limit on a telemetry device or via a physical speed limiter on the vehicle. If needed, Ctrack SMILE technology can adjust a vehicles top speed capabilities based on predetermined Geo zones.
Drivers who breach road regulations risk their own safety, the safety of others and cause additional costs such as fuel, maintenance, insurance and even traffic fines. The Crystal driver behaviour monitoring and driver scoring functionalities further assist with reducing CO2 emissions and saving costs. Driver coaching can rectify cases where vehicle engine speed is higher than necessary.
"Ctrack are perfectly poised to assist our users in managing their ESG requirements thanks to years of experience in the collection of data and presenting it in a usable format," concludes Jordt.
