Lyft announced a multibillion-dollar investment to become a fully carbon-neutral transportation service. The company said on Thursday it would buy an undisclosed number of carbon offsets, which are investments in environmental projects elsewhere to balance Lyft's carbon footprint. Only in the first year, Lyft says it plans to compensate "more than one million metric tons of carbon."
According to the co-founders of Lyft, these investments will help fund a variety of environmental and sustainability efforts. "Lyft's trips are now carbon neutral through direct funding of emissions mitigation efforts," company co-founders Logan Green and John Zimmer said in a blog post, including reducing emissions in the manufacturing process. automotive, renewable energy programs, forestry projects and the capture of landfill emissions. "
"Lyft's trips are now carbon neutral."
Transportation is a great source of greenhouse gases, recognize Zimmer and Green. According to the Environmental Protection Agency, automobiles, trucks, commercial aircraft and railroads accounted for 27 percent of total greenhouse gas emissions in 2015. "This action is not the complete solution," write the co-founders, "but a true Advance". "
A spokesman for Lyft declined to specify the amount the company planned to spend on carbon offsets, citing the difficulty of predicting the number of vehicle miles driven by Lyft vehicles. The price to offset a metric ton of carbon can range between $ 4 and $ 19 for individuals. Services such as Terra Pass, Stand for Trees and Carbon Fund offer similar carbon credits for sale to individuals and companies. Lyft says he will work with an organization called 3Degrees, which oversees the registration and independent verification of carbon offset projects. "Most of these projects will be in the vicinity of our larger markets, and all projects will be in the US," write Green and Zimmer.
The mission of Lyft to neutralize its carbon emissions is the latest effort of the company that provides this service to embrace a more sustainable future. Last year, Lyft promised that all electric and autonomous vehicles on its platform will operate with "100% renewable energy". The company said it would buy renewable energy certificates to offset any emission of fuel from its autonomous electric vehicles. To be sure, not all Lyft autonomous vehicles will be electric. (Currently, the company is only testing a small handful of autonomous cars).
Lyft's climate objectives emerged as a result of President Donald Trump's decision to remove the United States from the Paris climate agreement. The company joined a coalition of companies and local governments committing to continue to comply with the agreement. And Lyft also added environmentalist Paul Hawken, executive director of Project Drawdown, as a climate advisor.