Clean power that means business

Companies are increasingly setting their own sustainability initiatives and decarbonization  timelines and are placing a heavy emphasis on supply chains, which often account for more than 90% of an organization’s emissions.

According to the 2023 MHI annual industry report:

• Nearly half of supply chain professionals say they face increased influences to adopt a more sustainable supply chain, with pressure coming from consumers, regulators, industry groups, traditional and social media and other stakeholders
• Electrification is the single greatest area of focus, with 40% of supply chain professionals identifying it as their top priority

Workplace safety and the protection of employee wellbeing is critical for all organizations, and especially those with staff working on or around heavy equipment in busy facilities or tough conditions. Businesses also face increasing pressure to improve sustainability because fossil fuel emissions have serious implications for public health more broadly, beyond their own workforce and facilities.  

• About 25% of workers across all U.S. industries have been exposed to hazardous noise according to the Centers for Disease Control and Prevention (CDC)
• From 2021 to 2022, there were more than a half million workplace musculoskeletal disorders or “ergonomic injuries” that resulted in at least one day away from work, according to the Bureau of Labor Statistics

To support sustainability commitments and decarbonization goals, many businesses are holding vendors or suppliers to more stringent standards.

• One major retailer that was among the first to have corporate initiatives centered solely on scope 3 emissions – those from suppliers and vendors – has cut 1 billion tons of emissions years ahead of schedule by engaging suppliers in climate action
• According to the 2023 MHI annual industry report, 37% of respondents say they are focusing on the support and sustainability of their suppliers to improve the sustainability of their own supply chain

Programs and availability vary by state, but resources are available to help support the conversion to electric forklifts and other electric materials handling equipment.

Programs to help offset the acquisition cost of electric equipment, chargers and even infrastructure upgrades include:

• State and federal administered grants such as the Diesel Emissions Reduction Act (DERA) Program and the Volkswagen Environmental Mitigation Trust
• Tax incentives including Alternative Fuel Infrastructure Tax Credits
• Cap-and-trade or cap-and-invest programs that offer opportunities to sell excess emission allowances, such as those in California or many states on the East Coast

Speak with your local dealer to learn more about financial incentives that may be available in your area to help you electrify your forklift fleet.