{"id":3152,"date":"2022-10-22T19:34:15","date_gmt":"2022-10-22T19:34:15","guid":{"rendered":"https:\/\/quicktransportsolutions.com\/blog\/?p=3152"},"modified":"2023-03-30T16:18:49","modified_gmt":"2023-03-30T16:18:49","slug":"long-haul-trucking-companies-begin-to-plan-for-an-alternative-fuel-future","status":"publish","type":"post","link":"https:\/\/quicktransportsolutions.com\/blog\/long-haul-trucking-companies-begin-to-plan-for-an-alternative-fuel-future\/","title":{"rendered":"Long-Haul Trucking Companies Begin to Plan for an Alternative Fuel Future"},"content":{"rendered":"\n

Trucks that move goods, medicines, electronics, cars, and construction equipment have never been more critical to the United States and, indeed, the globe. And yet, still today, most heavy-duty trucks today, ranging from Class 5 (16,001 lbs.) to Class 8 (26,001 lbs. and higher), operate on diesel fuel engines. And it has been this way since the first \u201csemi-truck\u201d was invented<\/a> in 1898. Here we are 122 years later and still, the electric future is not here.<\/p>\n\n\n\n

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There has been an increasing amount of press coverage romancing the idea that a plethora of start-up trucking companies can quickly revolutionize the industry and deploy a convoy of long-haul trucks built with EV battery technology. Imagine it now. Now, keep imagining because it hasn\u2019t happened yet. So, when will the EV revolution arrive and what will it take to get us there?<\/p>\n\n\n\n

The Dangers of a Changing Climate<\/h2>\n\n\n\n

If there is one thing that policymakers, OEMs, and everyday people can agree on, it\u2019s this: The weather is changing. And yet the reasons, solutions, and underlying causes are all up for considerable debate, aren\u2019t they?  Climate change is among today\u2019s most heated debate topics and social causes. From governments to global multi-national corporations, heavy hitters and global players are re-writing the rules of the game when it comes to their sustainability goals.<\/p>\n\n\n\n

As companies the world over adjust their business strategies to reduce and eventually meet a zero-carbon emission footprint, the way we ship and receive goods will inevitably change. And that\u2019s why the FMCSA and Congress have been crafting legislation managing Greenhouse Gas (GHG) emissions. It is these GRGs that are at the heart of climate change debates. And these debates certainly need to happen. With global economic activity pumping out CO2 levels estimated to be 50% over pre-industrialization levels<\/a>, something\u2019s got to give. The debate has now moved from a political one to a scientific one.<\/p>\n\n\n\n

The fact is this: GHG emissions generated from the transportation sector accounts for approximately 27% of total U.S. greenhouse gas emissions, making it the largest contributor of U.S. GHG emissions. So, what is the industry doing about it? And how is the federal government attempting to regulate it?<\/p>\n\n\n\n

A Shifting Regulatory Landscape<\/h2>\n\n\n\n

When it comes to climate change, corporations and government leaders face more pressure than ever before. Whether it be from everyday consumers, partners, vendors, or their customers, businesses face tremendous pressure to reduce GHG output. And they are going about it in different ways. From their factories and supply chains to their equipment and routing, carbon emissions are top of mind in the C-suite.<\/p>\n\n\n\n

Interestingly, you can see this born out in how modern-day companies conduct business. Today, it is estimated that 90% of companies<\/a> in the S&P 500 provide environmental, social, and governance (ESG) plans and reports. They do this because today\u2019s interested business parties want companies they invest in or partner with to demonstrate how they will reach aggressive carbon-reduction goals in a warming world.<\/p>\n\n\n\n

Over the past decade, more and more corporations and business leaders have taken steps to ensure their organizations have well-planned and publicized ESG plans and goals. Still, more must be done. Why? Because the SEC recently issued a proposed rule that would enhance and standardize the climate-related disclosures provided by public companies. But will it be enough?<\/p>\n\n\n\n

What is in the New SEC Emissions Disclosure<\/h2>\n\n\n\n

Under the SEC\u2019s new proposed rule, a registrant will be required to adhere to GHG emissions disclosures. But what does this mean in practice? Basically, that fleet managers or other decision-makers within the company must ensure within qualitative governance disclosures are notated within their annual reports. This is where the great fleet managers<\/a> separate themselves from the simply good, or even bad.<\/p>\n\n\n\n

But that\u2019s not all. Aside from the adherence to emissions reductions, trucking companies are now required to document their emissions certifications for SEC filings. This is a vital step because medium- and heavy-duty commercial motor vehicles produce nearly a fourth of all GHG emissions globally. That\u2019s right. Commercial hauling equipment, including tractor-trailers, large pickups and vans, delivery trucks, buses, and garbage trucks, are responsible for up to 24% of all transportation emissions.<\/p>\n\n\n\n

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One of these strategies involves completely retrofitting internal combustion powertrains with alternate power technologies. These technologies could include everything from battery-electric to hydrogen fuel cells. Power options are also different by vehicle type. Consider that biofuel technology is used in cars, medium-duty vans, heavy-duty long-haul trucks, and \u201clast mile\u201d delivery vehicles. Alternative fuel vehicles are here to stay. Will your trucking company embrace the trend?<\/p>\n\n\n\n

Trucking companies across the world are asking themselves what the realities of moving from diesel-powered engines will be like. How easy will it really be to transform your fleet from gas-powered to EV battery, hydrogen, or some other technology? We want to illustrate how a natural bridge progression strategy will ultimately serve your company\u2019s best interests. Whether you have sustainable goals or not, reducing emissions \u2013 and thus fuel costs \u2013 benefits everyone.<\/p>\n\n\n\n

Conduct Your EV Strategy Due Diligence<\/h2>\n\n\n\n

We want to take some time to highlight some facts about electric batteries, hydrogen fuel cells, and other alternative fuels and energy sources. Fleet managers don\u2019t need fancy promises, they need actionable strategies to transform their fleets and meet ESG goals. This should all be done while you transition to a future of alternative energy technology.<\/p>\n\n\n\n

However, many trucking companies struggle with how to plan an ESG transition. What are the most critical aspects of such a transition? What should you pay attention to and keep track of? Consider the following questions as you storyboard your alternative fuel source transition:<\/p>\n\n\n\n