Dec 2, 2024
Our commitment to becoming carbon net zero by 2040 has reached a significant milestone. The global climate action organisation, the Science Based Targets initiative (SBTi), has officially validated our emissions reduction targets.
This achievement goes beyond recognition — it holds us accountable. By publicly declaring our goals and receiving validation from a globally respected third party, we’ve reinforced our commitment to aligning our efforts with climate science and the goals of the Paris Agreement.
Founded in 2015, the SBTi is a leading organisation driving corporate climate action. It validates greenhouse gas (GHG) emissions reduction targets set by companies and financial institutions, ensuring they align with science-backed pathways to limit global warming to 1.5°C.
The SBTi is a collaboration of global sustainability leaders:
– CDP (formerly the Carbon Disclosure Project).
– United Nations Global Compact.
– World Resources Institute (WRI).
– World Wide Fund for Nature (WWF).
– We Mean Business Coalition.
It’s funded by renowned organisations such as the IKEA Foundation, Amazon, and the Bezos Earth Fund. Learn more about the SBTi on their official website.
Our long-term goal is to achieve net-zero greenhouse gas emissions across our value chain by 2040.
This commitment lies at the heart of Bolt’s Sustainability Strategy and is supported by shorter-term targets set for 2030:
Bolt’s Scope 1 emissions — or direct emissions — come from generating electricity and heat, fuelling vehicles, and using cooling systems and air conditioning equipment.
Bolt’s Scope 2 emissions — indirect energy-related emissions — are generated from purchased electricity and heat consumption. The primary way we can reduce these emissions is by sourcing renewable electricity.
Scope 3 emissions come from activities essential to our ride-hailing, car-sharing, micromobility, and delivery services. This includes buying goods for Bolt Market stores, sourcing materials for scooters and e-bikes, and drivers fuelling their cars. They also result from activities like Bolt employees creating waste, commuting, and using computer hardware.
Having greenhouse gas emission reduction targets approved by SBTi shows a company’s maturity and leadership in sustainability. It’s a significant mark of credibility, as only a select group among thousands of committed companies have achieved formal validation.
To date, nearly 7,000 companies have had their emissions reduction targets validated, and over 3,000 have made net zero commitments with the SBTi.
By adhering to SBTi’s criteria, we prioritise direct emissions reductions (decarbonisation) and ensure all residual emissions are neutralised before reaching net zero. This disciplined approach keeps us focused on meaningful, science-based action.
Learn more about our sustainability journey and the commitments from our sustainability page. You can also explore the progress of committed companies on the SBTi Target Dashboard.
Together, we’re driving toward a more sustainable future — one kilometre at a time.
