LONDON: The Coalition for Reimagined Mobility (ReMo) has released a report that details the impact of freight sector data sharing to improve the sustainability and reliability of global supply chain.

The report includes new modeling from the International Transport Forum (ITF), which found that the adoption of an open freight data exchange standard would not only improve operational efficiencies across the supply chain, reducing the unprecedented level of goods stuck at global ports, it will also result in an estimated 22% reduction in carbon emissions by 2050 and eliminate 2.5 billion barrels of oil per year.

Freight data exchange standards are open or freely available technical specifications that define how to share critical information to seamlessly facilitate global freight logistics.

Standardizing the exchange of freight data will support a transition to widespread software-enabled communication forming the backbone of better stakeholder coordination across the global supply chain.

ReMo partnered with the ITF to use its globally renowned freight emissions model to quantify emissions reductions that could be generated by data exchange to share logistical data in near real-time and streamline the supply chain.

The impact is significant, including a reduction of sea freight emissions by 280 million tons of carbon per year and road freight emissions by 360 million tons of carbon per year; elimination of 2.5 billion barrels of oil per year and a 6-percent cost savings per ton-kilometer.