Our Natural Capital Strategy
We define our Natural Capital as all renewable and non-renewable environmental goods and services that support our current, short, medium, and long-term ability to operate and prosper. This includes all the resource inputs that we use, as well as, the resources that our operations may impact both positively or negatively.
We recognize that as part of the transportation and logistics industry, the biggest impact on our natural capital is our emissions, as well as our packaging and material use and is, therefore, one of our key material topics. Our Natural Capital strategy lies in holistically monitoring related inputs and outputs. We minimize our fuel needs and emissions through increased efficiency and renewable energy use, and reduce our material and packaging use, along with our waste streams, through continually evaluating our business needs and reducing, reusing, and recycling. Our employees and business partners are key to this strategy, and we ensure that we engage with them to raise awareness, train, and evaluate suppliers on their environmental impacts and sustainability.
We recognize our responsibility to our stakeholders, and it is essential that we fully understand the potential threats climate risks pose to our business, operational activities, and customers. Therefore, in 2022, we underwent a series of actions to strengthen our climate risk assessment and resilience practices. To start our journey, we appointed an independent third-party consultant to conduct a climate risk assessment and benchmarking exercise.
Environmental Stewardship and Climate Change Mitigation
We follow a robust GHG Emissions calculation approach which covers our network of operations to calculate our overall emissions following GHG protocol, International Energy Agency (IEA), and other best practices. Our emissions data and calculation methodology is audited and assured by external parties.
By surpassing our 2016 goal of reducing our emissions per shipment by 20% by 2020, we have set new targets in line with the Science Based Targets initiative (SBTi). These targets are underscored by a rigorous scientific and data-driven approach to measuring and managing our impacts across the entirety of our operations, covering scopes 1, 2, and 3 to guide our decarbonization strategy.
Our Natural Capital strategy follows a multi-faceted approach toward the environment and climate change. Our key projects and initiatives are:
- Renewable Energy - Solar Installations and Investment
We currently have five solar energy systems installed, covering 60% of our energy needs for our warehouses in Dubai, UAE and in Amman, Jordan, covering more than 80% of our warehouses and office energy needs. In 2022, we expanded two of our solar installation systems in Jordan.
- Sustainable Fleet
Our goal is to convert our fleet to have low emission and electrify our fleet based on the availability of electric vehicles that meet our operational needs in our markets.
- Energy Efficiency
We are committed to enhancing our energy efficiency to optimize and reduce our natural resource use and inputs. We are also committed to certifying our facilities according to the ISO 14001 standards, along with working to achieve LEED certification on our owned facilities, Additionally, we conduct energy audits in different locations and facilities to understand our energy use and identify any possible energy savings.
- Working Across Our Supply Chain to Mitigate Scope 3 of Our Emissions
In 2021, we joined the Air France and KLM Corporate
(AFLK) Sustainable Aviation Fuel (SAF) program. The program is part of ongoing efforts to manage and reduce emissions and carbon footprint across our industry and enhance our sustainability efforts. This project is continuing, and we are finding ways to partner with airlines and other aviation companies to reduce the environmental impact of using airfreight and airliners in our operations.