TechInAfrica – Bolt has launched an environmental impact fund with a seed capital of €10 million offered to projects that have global social and environmental advantages. The fund is part of Bolt’s strategy called the Green Plan that focuses on a long-term commitment to eliminate the ecological footprint of the company.
The fund will support an East African company, M-KOPA that helps households in African countries like Kenya, Uganda, and Tanzania to shift from kerosene to affordable and renewable solar power energy. Additionally, the fund will also support renewable energy initiatives in India and a forest creation project in the UK.
Markus Villig, the Founder and CEO of Bolt, said: “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. These projects are viable and aligned with our strategy because of their contributions towards renewable energy and providing other social and environmental benefits to the people.”
Villig added, “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 is committed to reducing emissions through its Green Plan – adding more green-ride type of passengers and bringing electric scooters to more cities in Europe. The company will find ways where riders can contribute to green initiatives inside the app.