CHICAGO, April 27, 2023 – Redwood Logistics (Redwood), one of the fastest-growing supply chain and logistics companies in North America and innovators of Logistics Platform as a Service (LPaaS), announced today that the company has been awarded a Bronze EcoVadis Medal in recognition of 2022 sustainability achievements and progress toward ESG (Environmental, Social, Governance) objectives, including development of its proprietary Redwood Hyperion sustainability and carbon tracking tool. Redwood completed the assessment within the transportation support category and placed in the 62nd percentile of all companies surveyed by EcoVadis.
“The ability to meet our carbon and environmental goals sets the foundation for our customers and their ability to meet their goals,” said Mike Reed, Chief Product Officer at Redwood. “Implementing and creating tools that help the flow of sustainability data and improve decision making allows for us to hold true to our sustainability values. Receiving the EcoVadis Bronze Medal corroborates the successes that we have made thus far, with more efforts and innovation still to come.”
EcoVadis measures participants in four categories: environment (operational factors and stewardship), labor and human rights (internal and external human rights issues), ethics (corruption and bribery issues) and sustainable procurement (social and environmental issues in company supply chains).
Redwood’s environmental policies on greenhouse gas (GHG) emissions and energy consumption, labor and human rights policies, comprehensive ethics policies and environmental issue integration into supplier contracts were all recognized as policy and action strengths by EcoVadis in their respective categories.
For example, Redwood reduced asset fleet carbon output by 1.7 million pounds in 2022 through a fleet modernization initiative aligned to the SmartWay programs’ guidelines, which matched a similar trend with third-party managed solutions that reduced carbon output by over 75 million pounds through LTL consolidation each quarter last year. Redwood’s ability to materially analyze and provide that type of anchored, data-driven sustainability reporting at an individual customer level is a strength as a partner in driving forward shippers’ ESG objectives and recognized through the EcoVadis assessment scoring.
Specifically, Redwood’s 2022 beta rollout of Redwood Hyperion contributed heavily to the company’s high score ahead of the 2023 launch to the broader market. Redwood Hyperion, which also recently received the SEAL Sustainable Product Award, automates detailed load-by-load emissions calculations, provides supply chain emissions metrics and analytics and supports carbon-neutral initiatives by facilitating carbon credit purchases toward verified projects.
“As we launch new technologies and capabilities, like Redwood Hyperion, we look to strengthen our scores in each of the scoring categories and further demonstrate our commitment to being a responsible transportation partner,” Reed said. “Through our suite of modern 4PL logistics execution and supply chain orchestration services, we are able to help shippers move freight sustainably and make environmentally conscious decisions to positively impact their supply chains and share with their consumers.”
As sustainability expectations evolve, shippers are increasingly requesting EcoVadis scores as a part of their procurement process. Redwood will continue to substantiate sustainability results and is committed as a responsible employer and transportation partner with corporate ESG objectives being guided by the Sustainability Accounting Standards Board (SASB) framework.
For more details on the EcoVadis sustainability medals and scoring, visit https://ecovadis.com/. To check out a demo of Redwood Hyperion and learn more about how Redwood can help shippers meet their sustainability and carbon accounting goals, visit https://www.redwoodlogistics.com/service/innovate/redwood-hyperion/.