Walmart & HSBC offer financial incentives to cut supply chain emissions
Retail giant Walmart has partnered with HSBC to launch a new green financing program, which offers its suppliers favorable financing rates in return for improved sustainability and lower carbon emissions. Suppliers involved in either Project Gigaton or Walmart’s Sustainability Index Program will be able to apply for preferential financing packages via the HSBC arrangement, based on their progress.
Walmart introduced its Project Gigaton initiative in 2017, in which the retailer aims to cut one billion metric tons (a gigaton) of emission from its global supply chain by 2030. After just over a year since the initiative was introduced in China, Walmart announced that its China-based suppliers have so far avoided 3.46 million metric tons of carbon dioxide. The company hopes that this “enticing proposition” will “encourage companies throughout the supply chain to focus on sustainability” as improving sustainability “sparks innovation and generates value.” Since 2017, Walmart’s suppliers have conserved a total of 93 million metric tons of emissions through energy efficient measures, using renewable energy, and sustainable packaging projects. However, to reach the gigaton goal, this needs to increase to 83 million metrics tons per year.
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New HMM CEO heads to Europe to “consolidate” ties with 2M Alliance
South Korean carrier Hyundai Merchant Marine (HMM) is looking to extend its ties with the 2M shipping alliance. HMM’s new CEO Jae-hoon Bae will call at the head offices of alliance members Maersk and Mediterranean Shipping.Co (MSC), in the hopes of possibly renewing its vessel sharing agreement with the European carriers, which expires in one year’s time.
Although a HMM spokesperson claimed that the visit would purely be a “courtesy call” rather than a “deep and serious discussion”, a carrier statement said the purpose of the meetings would be to “consolidate the relationship with 2M.” Many shipping executives believe an extension or continued relationship with 2M is very unlikely. Despite a 10% increase in the number of TEUs handled last year, the carrier reported an operating loss of $451 million and has suffered $1.6 billion in losses over the past three-and-a-half years, largely relying on government subsidies to survive. At the same time as the sharing agreement expiry date, 12 HMM megaships– with a 23,000 TEU capacity- will be going online. It is therefore crucial for the carrier to improve utilization by sharing vessels with the 2 shipping giants, particularly while trade volume growth is declining and fuel prices are rising.
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You can now give Amazon access to your garage
As an addition to its in-house and in-car delivery services, Amazon has launched a perhaps less invasive in-garage delivery service. The e-tailer embarked on a joint venture with Chamberlain Group, a garage door device manufacturer, to give Amazon delivery drivers access to Customers’ garages. This services customers who are unable to accept the delivery during the scheduled time and don’t want their packages to be left outside of their property.
In-garage deliveries are possible for customers with WiFi- capable garage doors or for those that have installed the “In-garage kit.” For customers with a WiFi- enabled door, all they have to do is connect their Amazon and Chamberlain accounts in the digital app of “Amazon Key.” Those who install the kit can either access the service through a digital hub that connects the standard door opener to the cloud or by using a special Chamberlain opener, both in conjunction with Amazon’s “Cloud Cam” which provides live feeds and motion clips of the delivery. The “Key App” allows users to check the status of their garage doors and open or close them regardless of location. Drivers will request access to the garage using a hand-held device and request to shut and lock the door once the package is inside.
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Have a nice weekend.
