Inaction Carries a High Cost: Sustainability in Fleet Management 2024

According to Deloitte, ignoring climate change could cost the global economy a staggering $178 trillion by 2070. However, a serious move toward net-zero emissions could generate $43 trillion in economic gains over the next 50 years. This reality underscores why environmental responsibility is now essential, not optional, for businesses.

Going Beyond Cost Savings and Compliance

In 2024, the need for proactive environmental action has come to the forefront for fleet managers. Sixty-two percent of respondents in Wheels’ “Environmental Sustainability Benchmark Report” list environmental stewardship as their top objective—a notable shift away from purely financial incentives.

In fact, cost savings as a driver of sustainability has dropped significantly, with just 12% of respondents prioritizing it this year compared to 20% in 2023. Similarly, only 15% named regulatory compliance as a primary motivator, suggesting that most are genuinely committed to sustainability rather than simply meeting external mandates. This year’s data reflects a clear trend: companies are aiming for environmental impact over short-term financial returns and regulatory compliance.

Actionable Sustainability: What Fleets Are Doing

During our “Environmental Sustainability Benchmark Report Webinar”, insights revealed an even broader industry commitment, with an impressive 77% of fleets actively incorporating battery electric vehicles (BEVs), plug-in hybrids, or hybrid electric vehicles into their operations. This demonstrates that sustainability isn’t just a buzzword but an actionable goal being pursued at scale.

Organizations increasingly view sustainability as a competitive differentiator, aligning environmental impact with long-term business growth. A key focus is reducing emissions through EV adoption. EVs offer substantial benefits, including lower greenhouse gas emissions and improved air quality.

Support for your Electrification Goals

To facilitate this transition, Wheels supports electrification goals with a comprehensive suite of EV solutions, from strategic assessments to charger installations, home-charging reimbursements, and on-the-go charging options. Our EcoWheels EV Assessment tool delivers the insights you need to make informed decisions about fleet electrification. For example, companies grappling with the cost of transitioning to home-based charging solutions can rely on Wheels’ expertise to implement cost-effective strategies. We can help analyze driver charging needs, recommend appropriate charging hardware, and manage reimbursement programs to ensure a smooth and efficient transition.

To explore these trends further and drive meaningful change in your fleet, download the 2024 Wheels Sustainability Benchmark Report.