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Supply chain service provider J.B. Hunt Transport Services Inc. launched a clean transport program Monday, giving intermodal customers the option to purchase carbon credits that offset greenhouse gas emissions from their shipments.
Based on lane-specific activity evaluated by third parties each quarter, J.B. Hunt’s (NASDAQ: JBHT) clean transport program will help customers see how many offsets they would need to purchase to make each shipment carbon-neutral.
“J.B. Hunt is committed to leading the industry toward a low-carbon future,” Craig Harper, chief sustainability officer and executive vice president at J.B. Hunt, said in a release. “Many of our customers are working towards short- and long-term sustainability goals, and Clean Transport will serve as a great extension of the efforts they’re already taking to reduce the carbon footprint of their supply chain.”
The program will allow customers to choose which offsetting projects they want to support, including reforestation, forest management, regenerative agriculture and clean power generation.
Carbon offset projects are available through organizations such as American Carbon Registry, Verra, Gold Standard and Climate Action Reserve “to confirm that the emission reduction or removal was successful and the intended environmental benefits were executed,” the release said.
The Lowell, Arkansas-based company plans to extend its clean transport program to more customers after the initial rollout to only intermodal customers.
In March, J.B. Hunt announced plans to expand its intermodal fleet to 150,000 containers in the next three to five years as part of a joint initiative with BNSF Railway (NYSE: BRK.B).
J.B. Hunt estimates that switching freight from over-the-road transport to intermodal reduces a shipment’s emissions by 60%.
“Modal switching is a huge, near-term opportunity to reduce freight emissions. Everywhere possible, it should be on the table. However, for a variety of reasons (planning, value, security, cost, etc.), intermodal shipping is not always the leading alternative,” said Tyler Cole, director of carbon intelligence at FreightWaves.
“Until we have a higher cost on emissions or competitive, low-carbon alternatives to fossil fuels, firms can choose to offset their residual emissions. I’m glad to see J.B. Hunt offering such a service to their customers. I’m hopeful it will provide environmentally conscious customers with another way to credibly impact their cargo carbon footprint,” Cole said.
This article first appeared on www.freightwaves.com
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