Fleet Advantage announced its program helps corporate truck fleets certify their greenhouse gas emissions (GHG) output, recently mandated under a proposed rule issued by the Securities and Exchange Commission (SEC). Fleet Advantage is the only finance lessor that has been certifying such measures for a decade with a focus on tractor trailer fleets that operate high annual mileages (MPY).
On March 21, the SEC issued a proposed rule designed to enhance and standardize climate-related disclosures divulged by public companies. Under the proposal, a registrant is required to adhere to greenhouse gas (GHG) emissions disclosures within qualitative governance disclosures within their annual reports (e.g., Form 10-K). Comments on the proposed rule are due 30 days after its publication in the Federal Register or May 20.
Pioneering Focus on ESG and Documented Certification for SEC Filings
With more than 12 years of experience reporting to America’s Top 50 corporate truck fleets to achieve emissions sustainability, the company developed innovative technologies analyzing billions of miles of data from more than 50,000 vehicles in its network and providing accurate, ongoing emissions audits combined with its Fleet Modernization and Finance Program.
John Flynn founded Fleet Advantage in 2008 with the goal of developing solutions to significantly reduce emissions using a sustainable Fleet Modernization Program. The company has introduced breakthroughs including emissions scorecards, early truck EXchangeIT program, and financial flexibility to acquire use of clean-diesel engines more frequently as the emission technology advances. This program has helped fleets meet GHG-1and -2 Federal mandates to reduce CO2, while saving millions of dollars year-over-year with improved MPG and reduced fuel consumption.
Fleet Advantage customers operate fleets with lower cost per mile, a reduced carbon footprint and improved safety and driver morale by maintaining their fleet’s average life at about 2-3 years. This helps compliment ESG strategies for its customers in their goal to report to regulators and critical stakeholders. The company’s data analytics have proven that switching from an 8-year truck life cycle to a 4-5-year life cycle nets an average fleet reduction of 2.5 million gallons and 25,000 metric tons of CO2. According to the IEA, global energy-related carbon dioxide emissions continued to rise by 6% in 2021, their highest ever level.
“We have been preparing our corporate clients for this event since our inception, and are proud of the measures we put in place to reduce emissions along with supporting certification,” said Flynn, CEO of Fleet Advantage. “We were committed to a philosophy of making change within the industry when we opened our business in 2008, and today we continue to innovate strategies to maintain our commitment.”