Bolt to invest a €10 million in carbon neutrality

17th Sep 2019
Bolt to invest a €10 million in carbon neutrality

Bolt will seek to make journeys taken using its platform in Europe carbon neutral by offsetting emissions.

The Estonia-headquartered company is making a number of commitments as part of its environmental strategy, called Green Plan.

With a €10 million investment up to 2025, Bolt will offset its contribution to the European transportation sector’s carbon dioxide emissions by at least five million tonnes.

From 2020, Bolt will add more ‘green’ ride-types to the platform in Europe for passengers to choose from, as well as offsetting the global emissions from its offices.

The commitments include introducing electric scooters to more cities and allowing Bolt riders to donate and contribute to green initiatives from inside the app.

In 2016, road transport accounted for 20 per cent of Europe’s carbon dioxide emissions, with passenger cars contributing 44 per cent of the total.

Emissions increased by 28.3 per cent between 1990 and 2016, according to the European Environment Agency.

Europe is aiming for the transport industry to be climate neutral in the second half of the century.

Markus Villig, chief executive and founder of Bolt, said: “The facts show climate change is real and greenhouse gas emissions are the biggest cause of it.

“Today, road transportation makes up about 20 per cent of Europe’s total greenhouse gas emissions.

“As Bolt is a part of that ecosystem, we need to hold ourselves responsible for being part of the solution.”

Bolt is working with Natural Capital Partners, experts in the delivery of solutions for positive impact on carbon and renewable energy, to deliver its carbon neutrality.

The company manages The CarbonNeutral Protocol which provides businesses all over the world with the assurance that carbon-neutral action for their business, operations and products is clear, transparent and of the highest quality.