Grab announces targets for sustainable, inclusive growth

Wednesday, May 18, 2022 12:00

Grab has announced its commitment to managing its carbon footprint to become carbon-neutral by 2040 even as its business continues to grow significantly over the years.

It was one of three goals it announced in its recently released environment, social and governance (ESG) report.

It said it would focus first on measures to reduce emissions before turning to offsets.

As a platform that facilitates on-demand mobility and deliveries, 96 per cent of Grab’s total emissions in 2021 came from vehicles.

Hence, a core part of its strategy is to help build an inclusive electric vehicle (EV) eco-system that caters to the middle and lower-middle classes.

To this end, it works with governments, charging infrastructure providers and automakers across Southeast Asia to do EV pilot studies and research, plan and develop EV charging infrastructure and battery swapping stations and financing products to support greater EV adoption.

The other two goals are doubling the number of marginalised individuals earning an income on its platform by 2025 and achieving 40 per cent female leadership by 2030.

For the former, it plans to launch Grab Access, a regional programme to lower the barriers for marginalised individuals to join it.

The programme will provide them with special financial and training support for a period of time to help them adapt and ease into the platform.

Grab Access will roll out first in Indonesia, with other countries to follow this year.

The company plans to increase the percentage of women in leadership roles to 40 per cent by 2030, up from 34 per cent now.

This is meant to ensure it has diverse voices in management positions and a variety of views in developing and implementing policies and decisions. — VNS

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