India, 5th December 2024: Allcargo Group, Indian-born global logistics conglomerate, has released its Environmental, Social, and Governance (ESG) 2023-2024 report with the theme ‘Charting Sustainable Pathways with Ingenuity.’ The report highlights the Group’s commitment to achieve carbon neutrality by 2040 through its sustainable ways. It has also spelt out in detail the Group’s ESG goals which include energy and emissions, occupational health and safety, diversity, equity, and inclusion (DEI), community development, labour practices and human rights, cybersecurity, and corporate governance.

Commenting on the launch of the ESG report, Shashi Kiran Shetty, Founder & Chairman, Allcargo Group said, “ I am delighted to unveil our Environmental, Social, and Governance (ESG) 2023-2024 report, which reflects our steadfast commitment to building a sustainable and inclusive future for all. At Allcargo Group, we believe sustainability goes beyond compliance, it’s about creating lasting value for people, the planet, and our stakeholders. This report highlights our progress across three core pillars Environment (with a focus on renewable energy transitions), Social (ensuring employee safety, diversity, equity, and inclusivity, while driving community impact), and Governance (strengthening ethical practices, sustainable supply chain management, and data security). With a global footprint spanning 180 countries and robust multimodal operations within India, we recognize our responsibility to lead by example. Guided by the theme, ‘Charting Sustainable Pathways with Ingenuity,’ we aim to drive innovation, adopt sustainable practices across our global facilities, and foster ESG-driven collaborations. Together with our partners, we will continue to advance our ESG goals, shaping a future where business growth and sustainability go hand in hand.

India is working on to achieve its net zero emission targets by 2070 and working towards attaining 45% reduction in emissions intensity of GDP by 2030 from the 2005 level. The ESG efforts are aligned with those broader goals.

Key actions:

• Allcargo Gati, an Allcargo Group Company is adopting sustainable transportation through adoption of alternate fuel vehicles (AFVs). It has expanded the scale of its eco-conscious operations to enable more businesses to go green. Allcargo Gati has set a clear target of 2026 to convert its entire first and last mile deliveries to alternative fuels in India.
• Through its community development initiatives, Allcargo Group is majorly contributing to the United Nations Sustainable Development Goals of Good Health and Well-being (3), Quality Education (4), Sustainable Cities and Communities (11) and Life below Water (14).
• ECU Worldwide’s cutting-edge digital platform ECU360 will play an important role in optimizing end-to-end shipping transactions and making it more feasible to implement sustainability measures. Example, 90 percent online booking to reduce paper work.
• Increase in S&P CSA score by 4x – Having taken a strategic approach to ESG just last year, Allcargo Group has demonstrated remarkable progress in the S&P Corporate Sustainability Assessment (CSA) for FY 2023 by achieving an almost four-fold increase over the previous year’s score which highlights Allcargo’s unwavering commitment to sustainable growth and responsible business practices.
• Driving Carbon Reduction Through Renewable Energy and Electric MHEs

o Doubling Solar Consumption – As a significant step towards transitioning to 100% renewable electricity at all owned sites by 2040, we have more than doubled our energy consumption using renewables.

o 100% Electric Material Handling Equipment (MHEs) –Contract logistics business has reduced scope 1 and scope 3 emissions by converting their entire MHE fleet to Electric MHEs in their warehousing operations.

o Sustainable Ocean Freight Practice – At ECU Worldwide, we have taken a pioneering step in sustainable logistics by becoming the first independent cargo consolidator to offer instant access to renewable fuel options for maritime transport. Our book-and-claim tool allows customers to increase the share of liquefied biomethane (LBM) in the shipping industry, cutting CO2 emissions by 25% to 100% for less than Container Load (LCL) shipments.

· Committed to Corporate Governance: The Allcargo Group targets to ‘maintain zero instances of non-compliance with regulatory requirements year-on-year.’

o Our critical information assets and IT infrastructure are certified to ISO 27001:2022, ensuring that our data handling practices meet the highest standards of security, regulatory compliance, and industry best practice.

o A key area of the Group’s strategic ESG approach, involves computing emissions based on the Greenhouse Gas (GHG) Protocol: A Corporate Accounting and Reporting Standard (Revised Edition) (2015) with Global Logistics Emissions Council (GLEC) Framework, and identifying ways to mitigate them.

This year, we are continuing to advance towards our goals and targets established based on our Material areas – Environment (Energy & Emissions), Social (Occupational Health and Safety, Community Development, Labour Practice and Human Rights, Diversity, Equity, and Inclusion), and Governance (Sustainable Supply Chain, Customer Satisfaction Corporate Governance, and Cybersecurity). The most notable of our ESG goals is to achieve carbon Neutrality (scope 1, 2, & 3) by 2040 by investing in cleaner alternate fuels and renewable technologies.