The ride-hailing company announced on Thursday that it plans to become one of the largest voluntary purchasers of carbon offsets in the world.
Over the years, John Zimmer, the co-founder and president of Lyft, has often pointed to a class he took as an undergraduate as the source of his ideas about environmental sustainability—and by extension, Lyft’s goals to create greener transportation options.
The class at Cornell University was called “Green Cities.” The professor, Robert Young, opened the first lecture by describing how roads and transit systems built decades ago weren’t designed to sustain the rapid growth of urban populations today, Zimmer recalled. “If we don’t fix the infrastructure problem, we’re going to have a major economic and environmental problem,” Zimmer told a roundtable of reporters in Washington, D.C., in late March.
Founded in 2012, Lyft is now an $11 billion ride-hailing company, second in the industry to Uber alone. Its concept of ride-hailing has long been founded on reducing the need for personal car ownership. But today, the company made perhaps its most meaningful move yet towards reducing carbon emissions: Lyft is promising to offset the carbon emissions of every ride around the world, making all rides “carbon neutral.” From now on, Zimmer and his co-founder Logan Green wrote in a Medium post, “your decision to ride with Lyft will support the fight against climate change.”
According to the post, Lyft’s total annual investment will amount to over a million metric tons of carbon, “equivalent to planting tens of millions of trees or taking hundreds of thousands of cars off the road,” which will make Lyft one of the largest voluntary purchasers of carbon offsets in the world. Scott Coriell, a Lyft communications officer, said the company does not have a specific estimate for the cost of the investment, but that it will be in the millions of dollars. According to a 2015 report by the NGO Ecosystem Marketplace, General Motors, Barclays bank, and PG&E were the top three voluntary buyers of offsets between 2012 and 2013, respectively scooping up 4.6 million, 2.1 million, and 1.4 million carbon offsets, which are measured in metric tons, during that period.
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