In recent years, our primary focus surrounding environmental, social and governance standards has been the supply chain system. Supply chains are key vulnerability points for environmental and social injustice. However, there’s another significant problem: the environmental impact of a fuel consumption.
Mining and transport companies around the globe consume large amounts of fuel as part of their everyday processes. However, some of this fuel usage can be avoided – it might be due to reckless or poor driving, leakage, or even environmental factors.
ESG is quickly affecting the way we see fuel consumption and it will soon have a major impact on companies. Here’s how we can get ahead of the movement.
Where is the problem in how we track our fuel?
The simple answer: many companies simply don’t track their fuel consumption. This has the potential to deliver massive cost savings, efficiency and overall better forecasting and insights.
As countries over the globe take a deeper interest in ESG, especially the environmental factor, tracking fuel may soon become a compulsory standard. Many companies may be left to scramble, as many existing tracking platforms simply don’t do the job well enough.
Blockhead’s platform STAMP Fuel an be utilised to improve adherence to ESG guidelines in regards to fuel usage and environmental impact.
STAMP Fuel: its potential for ESG
STAMP Fuel is Blockhead Technologies’ proprietary fuel tracking platform. It uses blockchain technology and machine learning to track fuel throughout global companies. The platform easily integrates with any pre-existing software, so that companies don’t need to overturn all their existing processes.
While STAMP Fuel has value in identifying fuel fraud and calculating fuel tax credits, it can also help you to identify your fuel consumption and find ways to improve. It puts all of your fuel data in one place, allowing you to visualise, analyse and forecast with it. This allows companies to identify how much fuel they have been using and identify places of improvement.