Agility Ventures commits $18 million to green supply chain technologies
August 27, 2019: Agility Ventures, a corporate venture arm of global logistics provider Agility, has committed to an ambitious environmental strategy by investing18 million in green supply chain technologies so far. Agility also launched its latest sustainability report, 'Values into Action'. Agility Ventures has made green technologies one of its four core investment areas.
Agility is set on the target of cutting its emissions by 25 percent from 2016 levels by 2025. To achieve this, it is implementing renewable energy pilots in large facilities across the world and building to green standards as it adds over 3,00,000 square metres of facilities to its portfolio of warehousing and light industrial facilities across the Middle East and Africa.
Agility is committed to adopt science-based targets for greenhouse gas emissions reduction and achieved third-party certification for its shipment emissions reporting. It incorporates sustainability into business discussions with customers and offers emissions reports using a methodology certified to ISO 14064 standards.
"Green technology is a major focus of our investment strategy, and we’re always on the lookout for dynamic new businesses that can revolutionise the supply chain to help protect the planet. We are looking at innovative solutions that drive business value by reducing costs, increasing efficiency, and reducing energy consumption at the same time," said Henadi Al-Saleh, chairwoman, Agility.
Green technology start-ups Hyliion and TVP Solar will benefit from the $18 million investment. Hyliion is a hybrid technology trucking industry that reduces fuel consumption and corresponding emissions by 30 percent. It achieves this by recycling kinetic energy from braking that would otherwise be wasted. TVP Solar is a high-vacuum solar thermal technology serving the most energy-demanding applications, such as air conditioning, desalination, and process heat.
Tarek Sultan, CEO, Agility, said, “We’ve invested heavily in our human rights approach over the years and tried to lead by example, especially in emerging markets. Our community outreach programme has helped more than 1.6 million people in need and we’ve supported the education of over 36,000 students around the world in the last three years. In partnership with the humanitarian community, Agility has donated logistics expertise and services to more than 45 major humanitarian operations in countries ranging from Indonesia to Peru. Agility’s investments in the environment are the company’s new frontier.”