As we reflect on the past year, the urgency of addressing climate change has become more apparent than ever.
The global temperature continues to rise, impacting our planet in unprecedented ways. The signs of climate change are all around us, from rising sea levels to coral bleaching, ice-free Arctic conditions, and extreme heat waves.
In this 2023 wrap-up, we will delve into the sobering statistics that underscore the pressing need for action. Still, more importantly, we'll shine a light on the positive strides made toward sustainability and how VesselBot has been at the forefront of this crucial movement, helping companies reduce their Scope3 Emissions.
Understanding Climate Change: Warming Trends, Greenhouse Gas Levels, and Ocean Impact
Warming Trends: The Hottest Year on Record
According to the World Meteorological Organization, the key messages are:
- Global Temperature: 2023 is set to be the warmest year on record.
- Temperature Increase: Approximately 1.40°C above the pre-industrial baseline (1850-1900).
- Previous Records: 2023 Surpasses 2016 and 2020, the previously ranked warmest years.
Greenhouse Gas Levels: Record Highs
- Carbon Dioxide Levels: 50% higher than the pre-industrial era.
- Atmospheric Heat Trap: Greenhouse gases continue to rise, contributing to global warming.
Ocean Impact: Record Sea Level Rise
- Sea Level Increase: Record high in 2023, reflecting continued ocean warming and glacier/ice sheet melting.
- Accelerated Rate: Sea level rise from 2013-2022 is more than twice the rate of 1993-2002.
Legislative Milestones in 2023
In the face of the climate crisis, governments worldwide have responded with ambitious legislation to combat environmental degradation.
- The CSRD European Union (EU) legislation, January 5, 2023.
- California Law: SB 253 and SB 261, October 7, 2023.
The Corporate Sustainability Reporting Directive (CSRD) is an EU regulation requiring businesses to report transparently on their environmental and social impact. Notably, it emphasizes accurate reporting of Scope 3 emissions, as companies must disclose metrics detailing how energy usage affects the environment, set reduction targets, and explain the financial implications. All CSRD disclosures, including Scope 3 emissions, must be publicly available, and third-party auditing is mandated to ensure accuracy and completeness.
Learn More About The Legislation
California Law - SB 253, The Climate Corporate Data Accountability Act, applies to California businesses with revenues exceeding US$1 billion. Starting in 2027, it will mandate the annual reporting of Scope 3 emissions—indirect emissions not directly controlled by the entity. To ensure accuracy, independent third-party verification is required, emphasizing transparency. While penalties for non-compliance exist, exemptions apply for good faith misstatements.
California Law - SB 261, Greenhouse Gases: Climate-Related Financial Risk, applies to entities in California with annual revenues exceeding US$500 million. While primarily addressing financial risks, SB 261 aligns with the Task Force on Climate-related Financial Disclosures (TCFD) framework, indirectly encouraging Scope 3 emissions disclosure. Stressing the importance of accurate reporting, the legislation promotes third-party verification aligned with the TCFD framework. Penalties for non-compliance or misstatements in reporting Scope 3 emissions underscore the legislation's commitment to accurate and transparent disclosure.
Learn More About The California Law
VesselBot's Impact in 2023
As a pioneering technology company that brings transparency to Scope 3 transportation emissions with our greenhouse emissions reporting tool, we have recently achieved notable milestones, solidifying our position as an industry leader. These accomplishments underscore our commitment to innovation, environmental sustainability, and providing valuable insights to stakeholders.
Let us delve into our main achievements, highlighting our impact and contribution during 2023.
- 100% increase in new logos and revenue:
- Setup of a team in the US:
- Significant Strategic agreements formed:
- Gartner Recognition as a Cool Vendor:
- Initiation of our quarterly report for the global ocean container fleet:
- SFC Accreditation as a Partner:
2023 has been a year of substantial growth for us, where we secured several new contracts with large multinationals in the verticals of automotive, CPG, apparel, freight forwarders, and freight visibility provider companies.
We initiated our presence in the US by onboarding a local US-based team to drive growth in the country.
We formed many strategic agreements that will enable us to grow our distribution channels and our market reach, enhance the quality of our data, and offer more services to our customers, allowing them to get high-quality primary and modeled Scope 3 data from a single source seamlessly. More to follow about these collaborations in Q1 2024.
We were excited to be recognized by Gartner as a Cool Vendor in the 2023 Gartner® Cool Vendors™ in Cross-Functional Supply Chain Management Technology. To us, this prestigious acknowledgment reflects our cutting-edge advancements in cross-functional supply chain management technology, positioning VesselBot as a notable player in the evolving landscape of greenhouse emissions reporting in supply chains.
We further solidified our influence by launching our quarterly report on the global ocean container fleet, a move that delighted us as we observed its publication in renowned international magazines, including JOC, Freight Waves, and Sea Trade Maritime. This comprehensive report titled "Decoding Maritime Emissions: Global Container Vessel Emissions Report" for December of 2023 sheds light on ongoing challenges, emphasizing the urgency for continuous action and innovation. We encourage industry leaders, policymakers, and environmental advocates to download and explore the full report, providing a roadmap for reducing the carbon footprint in the maritime sector.
Download The Report
We successfully secured reaccreditation from Smart Freight Centre for the second consecutive year across all three modes of transportation—Land, Air, and Ocean.
Dedicated to environmental responsibility, we certified our greenhouse gas emissions calculations for freight and logistics operations aligned with the GLEC Framework. As an independent organization, Smart Freight Centre has reaffirmed the reliability and accuracy of the data we provide, making us the suitable choice for companies seeking effective, trusted, and sustainable solutions in this crucial aspect of optimizing their operations.
Charting the Path to Sustainability in 2024
Amid climate challenges, 2024 stands as a pivotal year for transformative action. As we confront unprecedented environmental statistics, we are also presented with an extraordinary chance to lead the way towards sustainability.
UN Secretary-General António Guterres underscores that the roadmap to limit global temperature rise to 1.5 °C is within our grasp. The decisions we make now will shape the legacy we leave for generations to come.
2024 signifies more than just a calendar change; it is an opportunity to embrace renewable energy, sustainable practices & technology, and phase out fossil fuels. It is a year to catalyze innovation, collaboration, and commitment to building a resilient future.
As we enter 2024, the time is now; let's make it a year that counts for our planet and the generations yet to come.