Sendle announces the launch of a new USD 100,000 pilot fund to transition the world to more sustainable shipping. This fund will be dedicated to incentivising carriers in its shipping network to convert to electric vehicles (EVs) and reduce carbon emissions.
The Future Fleet Fund is designed to help drivers, especially those that operate as small businesses, who struggle with the initial costs associated with purchasing an EV and charging infrastructure. This is the first such fund in the world specifically targeted at the conversion of small parcel delivery services and builds on Sendle’s 10-year commitment to sustainable shipping.
Starting from January 2025, the pilot fund will roll out to select suppliers and is the first step towards an annual program, with the potential to scale in the future to more partners and investors seeking to decarbonise shipping and accelerate the industry towards net zero shipping.
“When it comes to shipping, the biggest emissions are from the delivery vehicles themselves,” says Veena Harbaugh, Director of Sustainability at Sendle.
“While EV delivery vans are cheaper to run in the long run, their higher upfront costs still lead most businesses to buy diesel or gas vehicles. The Future Fleet Fund creates a mechanism for Sendle’s carriers to decarbonise and bridge the gap on the initial investment and operational challenges associated with EV adoption.”
Sendle suppliers will submit bids for vehicle conversion funding to participate. Bids include details of the vehicle they seek to replace or would be purchasing if this is an expansion of their fleet, as well as vehicle usage including things like weight, distance and days in operation.
Bids are evaluated by Sendle based on potential carbon avoidance impact for the amount of funds sought. Awarded carriers must provide documentation of EV purchase, and commit to ongoing reporting of vehicle usage, energy source, and amount of energy used for charging.
The Future Fleet Fund will become the centrepiece of Sendle’s ongoing sustainability and environment initiatives. In addition to shipping 100 per cent carbon neutral since 2014, Sendle is expanding that commitment across its operations and network, looking to reduce its carbon intensity each year until it reaches net zero emissions by 2040.
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