Hexagon Introduces New Sustainable Venture Called R-evolution

The venture will focus on green-tech investments that aim to bolster the company’s carbon-neutral goals.

(Photo courtesy of Hexagon R-evolution.)

(Photo courtesy of Hexagon R-evolution.)

Sensor, software and autonomous solutions developer Hexagon recently introduced its new business venture that will focus on addressing sustainability challenges in the technology industry. Dubbed R-evolution, the project will involve new investments directed at developing more green-tech projects as the company works toward carbon neutrality across its supply chain.

“We founded R-evolution because saving the planet is the biggest business opportunity of the 21st century,” shared Ola Rollén, president and CEO of Hexagon, in a press release. “The systemic problems caused by climate change demand a sense of urgency—2050 is the year of too late. We must think and act wisely now if we’re to change our trajectory. R-evolution is an opportunity for the industry to motivate rapid change profitably while giving back to the planet it’s been depleting since the industrial revolution.”

The first set of investments will revolve primarily around renewable energy and will work toward constructing and operating a portfolio of solar farms. This is expected to cut approximately 50,000 tons of carbon emissions annually. The returns on these investments will later be used to fund more projects focused on carbon reduction. According to the company, it plans on expanding into areas such as sustainable agriculture, ocean conversation, and forest preservation in the future.

According to Hexagon, this direction is in line with the company’s sustainability goals, which aim to reduce its overall carbon footprint and achieve carbon neutrality. Scope 1 and 2 emissions are expected to be addressed by 2030 and involve direct emissions from “controlled sources” and indirect emissions from consumed electricity, steam, heating and cooling. Scope 3, which includes indirect emissions across a company’s supply chain, is expected to be reduced by 2050.

In addition to this, Hexagon hopes to encourage more companies in the industry to partake in sustainable practices.

“Global commerce doesn’t have to be the enemy to a sustainable future,” said Rollén. “Instead, it can be the solution. Managing for the long-term, in line with ESG goals, is key to any organization’s resiliency in the face of uncertainty. And companies like Hexagon, with solutions that can help the world achieve its environmental goals, enabling anyone to become a steward of the natural world, must step up to lead.”

To spearhead the venture, Rollén has appointed Erik Josefsson as the CEO of R-evolution. Josefsson will be “responsible for putting data to work using Hexagon’s portfolio of sensors, software and autonomous solutions to save the planet while providing shareholder returns that reflect businesses’ contributions to a sustainable future.” Josefsson was previously the head of Advanced Industries at Ericsson.

Besides this, Hexagon has also committed to perform sustainability supplier audits on all of its direct suppliers by 2023. The company also intends to fill 30 percent of its leadership positions with women by 2025.

For more information, visit https://r-evolution.com/.