Companies are more likely to adopt sustainable initiatives if they realise cost savings, efficiency improvements, or revenue growth in the near term, according to Geotab’s fourth annual Sustainability and Impact Report.
A recent report by the Confederation of British Industry (CBI) found that the net zero sector is growing three times faster than the overall UK economy. Yet, this growth needs to be felt at an operational level and today’s economic realities demand a change in how we approach sustainability. There has been a significant shift from long-term aspirations, to more immediate, tangible results that improve the bottom line while reducing environmental impact.
“Sustainability can drive both cost savings and efficiency,” said Neil Cawse, founder and CEO of Geotab. “When these initiatives are integrated into everyday business operations, they naturally reduce environmental impact while boosting the bottom line. It’s a clear win-win, and hard to oppose once you see the value.”
Entitled “Pragmatic Solutions for a Changing World”, Geotab’s 2024 sustainability and impact report highlights how Geotab increased deployment of its sustainability solutions by 39% last year, with the number of electric vehicles connected to Geotab telematics growing by 63% and travelling over 700 million miles (over 1 billion kilometres).
The report also shows how the companies that implemented sustainable practices benefitted from short-term financial gains. For example:
Insights from the Geotab’s EV Suitability Assessment (EVSA) were used to decide which of United Utilities’ vehicles were right to move from ICE to electric, and to understand the cost savings. Fuel economy increased by 35%, and emissions per vehicle fell by 26% as a result of the insights provided.
California Freight, a multi-modal transportation company with a fleet of over 300 trucks, has been able to reduce fuel costs by approximately £40,000 per annum by introducing idling reporting into its operations. That money has been re-invested into developing their own APIs for accident reporting and notification.
As the market leader in local transport throughout Germany, DB Regio operates more than 10,000 buses in over 400 districts and self-governing cities. Its use of telematics has not only resulted in a CO2 reduction of approximately 1,400 tons, but reduced energy costs and saved several hundred thousand liters of diesel per year.
“At Geotab, we’re focused on empowering customers with data-driven solutions that translate into real-world efficiency gains. Whether it’s optimising routes, minimising fuel consumption, or strategically transitioning to electric vehicles, these actions directly reduce operational expenses while supporting environmental goals,” added Cawse.