Geotab® Simplifies Sustainability Compliance with TÜV Rheinland Certified Calculation Method for Greenhouse Gas Emissions Report
Report automates the tracking of CO2-eq from fleet vehicles.
TORONTO, Oct. 23, 2024 /CNW/ - Geotab Inc. ("Geotab"), a global leader in connected transportation solutions, announced today at Mobility Connect that TÜV Rheinland® certified its Greenhouse Gas Emissions Report for reporting Scope 1 emissions from fleet vehicles operating in the EU, European Economics Area (EEA) and the United Kingdom (UK).1
The Geotab Greenhouse Gas Emissions Report provides a consistent method of tracking vehicle emissions for companies on their compliance journey:
- Provides precise, near real-time data on fleet vehicle emissions
- Automates the calculation of carbon dioxide equivalents (CO2-eq), from carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2O) in accordance with relevant GHG protocol guidelines
- Eliminates the uncertainty of manual data collection and reduces the potential for human error
- Generates reports that align with common ESG reporting frameworks such as CDP and Science Based Targets initiative (SBTi)
TÜV Rheinland certified that the carbon calculation methodology used in the Geotab Greenhouse Gas Emissions Report conforms to GHG Protocol principles and requirements. TÜV Rheinland is one of the world's leading testing service providers, generating trust in products and processes through independent testing and certification.
"Sustainability reporting is the new reality, but it can also be a burden for many businesses. Geotab's Greenhouse Gas Emissions Report streamlines the emissions reporting process for fleets, saving valuable time and resources while providing data for strategic decision-making," said Edward Kulperger, Senior Vice President, Europe at Geotab.
Geotab's calculation of a fleet's carbon footprint is conducted in line with the GHG Protocol Corporate Accounting and Reporting Standard (version 2004) (GHG Protocol) and its guidance documents. The GHG Protocol is seen as the widely recognized international benchmark and provides requirements and guidance for companies and other organizations in preparing a GHG emissions inventory. Moreover, it is the calculation standard required under European Sustainability Reporting Standards ESRS E1 which requires companies to disclose their climate change impacts, risks and transition plans — a key component of the European Union's Corporate Sustainability Reporting Directive (CSRD).
Increased transparency and accountability
The Corporate Sustainability Reporting Directive (CSRD) marks a significant shift towards a new culture of sustainability reporting, transparency and accountability. It requires businesses to elevate their sustainability reporting, providing a clear, reliable and comparable view of their environmental, social and governance (ESG) activities and impacts.
Over 50,000 European companies and 10,000 international companies will need to submit sustainability disclosures based on the CSRD reporting requirements. Non-EU based small and medium-sized companies listed on an EU-regulated market will need to start reporting emissions in 2026, with other non-EU parent companies to follow. Non-compliance with the CSRD may lead to significant consequences for companies, including legal penalties and fines.
Sustainability is core to Geotab's corporate mission. As a global leader in telematics, with 4.5 million subscriptions across the globe, Geotab sees itself playing a part in helping the transportation industry transition to a clean future. Geotab's sustainable fleet solutions help fleets assess their environmental impact, manage sustainability performance and accelerate their decarbonization efforts. Learn more in the Geotab 2023 Sustainability and Impact Report.
1 | Certification covers greenhouse gas emissions from vehicles related to mobile combustion, not refrigerant leakage. |
About Geotab
Geotab, a global leader in connected vehicle and asset solutions, leverages advanced data analytics and AI to enhance fleet performance, safety, and sustainability while optimizing costs. Backed by a team of industry leading data scientists, engineers and AI experts, we serve over 50,000 customers across 160 countries, processing billions of data points hourly from more than 4.5 million vehicles. Data security and privacy are at the forefront of all we do—trusted by Fortune 500 organizations and some of the largest public sector fleets in the world, we meet top cybersecurity standards. Geotab's open platform and diverse Geotab Marketplace offers hundreds of fleet-ready third-party solutions. Learn more at www.geotab.com and follow us on LinkedIn or visit Geotab News and Views.
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SOURCE Geotab Inc.
Media Contact: Nicole Riddle, Senior Specialist, Strategic Communications, [email protected]
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