Cabify will use blockchain to offset its carbon footprint

Multi-mobility Spanish startup Cabify, which has been claiming to be carbon neutral in Spain and Latin America for the last three years, is reinforcing its environmental commitment by applying blockchain technology to the emissions offset project and expanding its initiatives to new countries. For this initiative, Cabify is partnering with ClimateTrade, a pioneer in the development of a blockchain marketplace for carbon footprint offsets. 

Road transport accounts for 11.7% of global greenhouse gas emissions, and urban centres are responsible for 70% of these, according to the International Energy Agency and C40 Cities1 . Cities are therefore key to the solution to climate change, which must involve moving towards the decarbonisation of mobility. 

Since 2018, Cabify has been the first and only company in the sector in Europe and Latin America to offset 100% of the emissions generated not only by its corporate activity but also those resulting from the journeys of users and companies through the (carbon neutral) application. In this time, Cabify has offset more than 310,000 tonnes of CO2 through environmental protection projects, equivalent to protecting 12 million trees in the Amazon rainforest. At the same time, the company is making progress in reducing emissions, with a commitment of 15% per year, and the drive to electrify fleets by 2025 in Spain and 2030 in Latin America. 

The projects to avoid deforestation in the Peruvian Amazon; waste treatment and employment in renewable energies in Brazil; and forest biomass in Chile for energy cogeneration, water pollution prevention and reduction of the risk of forest fires, are articulated through a system of fund traceability via blockchain that guarantees the transparency of the process.

For this reason, the company is already working on the integration of the API (Application Programming Interface) developed by Climate Trade, with which the carbon footprint per trip of users and companies who travel with the application can be tracked. This allows users to see in real time the footprint that is created during their trip, and Cabify compensates for this and transparently promotes the acquisition of carbon-neutral services.

Juan de Antonio, CEO and co-founder of Cabify, assures that in “the complex times in which countries, cities and municipalities currently find themselves are not slowing down the speed, but are motivating more than ever to make a decisive commitment to mobility and sustainable city models. We are sticking to our progress and our commitment to the electrification of the fleet and at the same time want to ensure that we achieve a positive impact with the corresponding local projects that goes beyond the CO2 neutrality achieved three years ago and also promotes human development. of the communities to whose everyday life we belong”.

Francisco Benedito, CEO of ClimateTrade, said the same “at ClimateTrade, we want to complement Cabify in managing sustainable mobility and, through the contributions of its customers, achieve the greatest impact on the climate. This alliance will make it possible to transparently accredit the company’s carbon neutrality and to create a unique tandem in an international context to improve the health of the planets. “

The decentralisation of compensation is key to directly delivering its positive impact not only in terms of environmental protection but also in terms of socio-economic development, and is committed to local green employment in communities where Cabify offers safe, sustainable and accessible mobility options. In addition, these programmes have a direct impact on various United Nations Sustainable Development Objectives (SDOs) such as Climate Action (13), Living Earth Ecosystems (15), Decent Employment (8), Reduction of Inequalities (10) and Partnerships for Achieving the Goals (17). 

Cabify has adhered to the United Nations Global Compact since 2018 and has aligned its sustainability strategy with the 2030 Agenda and the Sustainable Development Goals. In addition, the company is committed to the European Environmental Pact, through which the European Union wants to be climate-neutral by 2050 and reduce net greenhouse gas emissions by 90%.