Pioneering Focus on ESG in Equipment Finance Demonstrates Prioritization Toward Sustainable Fleet Solutions
FORT LAUDERDALE (March 11, 2024) – Fleet Advantage, a leading innovator in specialty financing, fleet data analytics, fleet management services, and life cycle cost management, announced today it was named to Monitor’s first annual “Best Companies” list in the category of ESG for its continued leadership in helping companies with transportation fleets, especially within equipment finance, vastly improve environmental records while implementing environmental, social, and governance strategies in front of customers, regulators, and other critical stakeholders.
Monitor’s 2024 Best Companies list recognizes companies that have demonstrated excellence in the equipment finance ecosystem through categories, including Innovation, ESG, Leadership, Diversity, Equity and Inclusion (DEI) and Culture in 2023. Over the last year, Fleet Advantage’s innovative business strategies and strong focus on environmental preservation has positioned the company as a leader in the industry, and it has made significant strides through innovation in many areas pertinent to organizations with transportation fleets.
The company’s innovative ESG focus in 2023 was most recently on display when it unveiled its EV Life Cycle Cost Analysis Tool, EVAN (Electric Vehicle Analytic Navigator), which assists its customers’ transition from diesel internal combustion to zero emission “green trucks.” As part of its TCO (Total Cost of Ownership) Tech Stack, Fleet Advantage has helped America’s corporate transportation fleets leverage data technology, asset management and flexible financing to identify and act upon vehicle obsolescence while sustainably driving down operational costs and increasing profit levels. These strategies will be critically important as the industry prepares for the CARB pre-buy in the coming years.
Additionally, Fleet Advantage’s introduction of emissions studies and its innovative replacement program, ExchangeIT®, has made operating new equipment beneficial for customers through its model of lowest TCO, clean diesel and safety-enhanced trucks with shorter life cycles and flexible finance options. This program helped fleets meet new GHG-1 federal mandate standards and calculated fuel economy gains at 2.5% MPG and CO2 reductions. In total, Fleet Advantage has saved its customers approximately $250 million and approximately 1,300,000 metric tons in emissions since inception.
Beyond heavy-duty Class-8 trucks, Fleet Advantage has also diversified its portfolio of asset types that complement its customers’ supply chains including EV yard tractors and trailers, along with medium and light duty delivery vehicles. The combination of data analytics and flexible lease finance options are proving to be a key strategy in helping companies determine the right adoption method for these newer vehicles.
Fleet Advantage’s approach to helping its customers with ESG goals is embedded in its philosophy to progress toward a carbon-free future in a viable way and cross the unique “bridge” these companies are facing in determining the right timing for adopting alternate fuel technology. By effectively harnessing and enriching the TCO with actual transportation utilization data—Fleet Advantage is driving desired business outcomes for companies, which can ultimately lead to greater sales, profit, and cost-effectiveness.
“We are honored to be selected by Monitor as one of their inaugural best companies in the equipment finance industry,” said Brian Holland, President and CEO of Fleet Advantage. Since Fleet Advantage’s inception in 2008, we have operated with the goal of being the future of truck leasing by advocating solutions that would significantly reduce emissions over time, and we are proud Monitor recognizes this in helping our customers complement their ESG goals.”
Please read about Fleet Advantage’s ESG initiatives in the January/February 2024 issue of Monitor Magazine on page 79, and check out the company’s major milestones achieved during calendar year 2023 here: www.fleetadvantage.com/press-releases/fleet-advantage-celebrates-a-momentous-2023-for-client-success-employee-growth-amidst-a-persistently-challenging-operating-climate.
About Fleet Advantage
Fleet Advantage is the largest independent lessor for heavy-duty Class-8 trucks and has over $3 Billion assets and over 20,000 units under its Life Cycle Cost Management program. This comprises a client portfolio of more than 50 of America’s top corporate fleets, including five (5) of the top 10 private fleets in the country. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet asset management, financing solutions, and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Our model of TCO, clean diesel, and safety-enhanced trucks with shorter life cycles complement our customers’ ESG goals. The accomplishments of Fleet Advantage and our leadership team continue to be recognized for tremendous growth and industry leadership with numerous awards, including Top Private Independent and Most Innovative Firm by the Monitor Daily, Top Software & Tech Awards, Top Women Associates in Finance, and Green Supply Chain Awards to name a few. The company has also been named to Inc. magazine’s 500|5000 list of fastest growing companies in the nation.
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