Agility invests $18 mn in eco-friendly supply chain technologies
Agility has announced its investment worth $18 million in green supply chain technologies so far through its corporate venture arm Agility Ventures.
August 27, 2019: Agility has announced its investment worth $18 million in green supply chain technologies so far through its corporate venture arm Agility Ventures.
The announcement came in as part of Agility's launch of its latest sustainability report, "Values into Action." It follows the news that Agility committed to adopting science-based targets for greenhouse gas emissions reduction and achieved third-party certification for its shipment emissions reporting.
Agility is pursuing an ambitious environmental strategy. By 2025, it plans to cut its emissions by 25 percent from 2016 levels. To reach that goal, the company is implementing renewable energy pilots in large facilities across the world and building to green standards as it adds over 300,000 square metre of facilities to its portfolio of warehousing and light industrial facilities across the Middle East and Africa. Agility incorporates sustainability into business discussions with customers and offers emissions reports using a methodology certified to ISO 14064 standards. To drive green transformation across the industry, Agility Ventures has made green technologies one of its four core investment areas.
Agility chairwoman Henadi Al-Saleh said, "Green technology is a major focus of our investment strategy, and we are 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."
Green technology start-ups benefitting from the $18 million investment include Hyliion and TVP Solar. 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 break-through, high-vacuum solar thermal technology serving the most energy-demanding applications, such as air conditioning, desalination, and process heat. Already deployed in the Middle East - including in Agility's corporate headquarters - TVP solutions operate autonomously with no need for cleaning, directly replacing fossil fuels with cheaper, cleaner, solar heat.
Agility CEO Tarek Sultan said the company has strived to set high standards for corporate citizenship over the past decade, particularly in the areas of environmental responsibility, humanitarian relief logistics, and fair labour practices.
"We have 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 have 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."