Press release
J.B. Hunt Announces Ambitious Goal to Reduce Carbon Emission Intensity 32% By 2034
LOWELL, Ark.--(BUSINESS WIRE)-- J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America,
About this update from J.b. Hunt Transport Services, Inc.
[{"type":"text","content":" LOWELL, Ark.--(BUSINESS WIRE)--\nJ.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, today announced a new goal to reduce its carbon emission intensity 32% by 2034 (baseline 2019), advancing the company’s sustainability vision of moving the freight industry towards a low-carbon future.\n\n“Our roadmap to achieving this aspirational goal will help J.B. Hunt strive to significantly reduce our carbon emission intensity while holding true to our customer commitment of providing efficient, quality-driven, competitive supply chain solutions for moving their freight,” said Craig Harper, chief sustainability officer and executive vice president at J.B. Hunt. “Our goal is an ambitious challenge to improve J.B. Hunt’s carbon footprint and to help advance the transportation industry’s progress in developing sustainable solutions that are commercially viable and scalable for widespread adoption.”\n\nSpecifically, J.B. Hunt will focus on three key areas to reach its emission-reduction target by 2034:\n\n\nIncorporating alternative powered equipment into its fleet\n\n\nExpanding the use of biogenic fuels\n\n\nImproving fuel economy (diesel powered miles-per-gallon “MPG”)\n\n\nAchieving the company’s ambitious target is dependent on significant progress with the development and availability of new industry technology and the infrastructure needed to enable their day-to-day use on an industry-wide scale. Examples include developments such as: ongoing enhancements to commercial motor vehicles; charging and refueling infrastructure; expanded capacity on the electrical grid; increased availability of biogenic fuels and the incorporation of more energy resources with lower carbon intensity.\n\nJ.B. Hunt’s goal is an intensity target aligned with the original goal of the Paris Climate Agreement to limit global warming to 2°C. Emission intensity measures the volume of absolute emissions emitted against a relevant business output, allowing for business growth while still showing emissions improvement on a per unit basis. The company’s target will focus on reducing Scope 1 and Scope 2 emissions per company operated ton-mile 32% by 2034 from a 2019 base year.\n\nJ.B. Hunt developed a roadmap for how its goal could be achieved if certain assumptions, including those related to electric...