Bolt, formerly known as Taxify has launched a €10 Million Environmental Impact fund. The fund which is targeted at global renewable energy initiatives will be used to support projects such as M-KOPA– a company that helps families in East Africa to switch from high-cost kerosene to affordable renewable energy alternatives for household energy needs.
Bolt’s environmental impact fund is part of the ‘Green Plan’, its wider environmental strategy that focuses on long-term commitment to reduce the ecological track of the company.
See Also: Bolt Deepens Services across Nigerian Cities, expands to Port Harcourt
It seeks to support global renewable energy initiatives that will reduce the effect of carbon emissions on the environment. Beyond M-KOPA, it will support renewable energy and forest restoration projects both in India and the UK.
The CEO and Founder of Bolt, Markus Villig had this to say about the €10 Mn Environmental Impact fund –
“We are committed to decreasing carbon footprint and direct emissions into the environment across the globe. Part of our strategy is to use carbon offsetting schemes to balance out our carbon footprint by reducing future emissions. We continue to proactively engage in activities that reduce emissions by adding more shared and electric vehicles on our platform. We’re also taking immediate responsibility by balancing out our emissions today.”
Bolt commits to bring electric scooters to more cities while looking at the ways riders can contribute to green initiatives inside the app.
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