Grab announces 2025-2040 ESG targets

Published May 19, 2022, 11:09 AM

by Emmie V. Abadilla

Grab, Southeast Asia’s leading superapp in deliveries, mobility, and digital financial services, targets to double the number of marginalized people earning income on its platform by 2025, reach 40 percent female leadership by 2030 and achieve carbon neutrality by 2040.

The company disclosed these goals in its annual Environment, Social and Governance (ESG) report released May 18.

“Our ESG goals express Grab Philippines’ deep and long-lasting commitment to the Filipino people,” stressed Grace Vera Cruz, Country Head, Grab Philippines.

“Through the ESG Goals, we provide livelihood opportunities on the platform, help Filipino talents become more digitally competitive and play our part in reducing our carbon footprint,” she explained.

“Through our collective efforts – alongside our partners and the government, we can help uplift the lives of many Filipinos for the years to come.”

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“We have to confront two important realities in a rapidly growing digital economy. First, an unequal access to opportunities, and second, an acceleration of climate change,” according to Anthony Tan, Grab Co-Founder and Group Chief Executive Officer.

“This is why we are focusing our ESG goals on driving inclusive growth and closely managing the environmental footprint of our ecosystem,” he noted.

“Our journey to becoming a triple bottom line company reflects our strong belief that the long-term success of our business is intricately linked to the welfare of the communities we serve, and the health of our planet.”

Grab’s ESG report also tracked the company’s impact across key priority areas last year.

Grab brought over 680,000 small merchant-partners onto the platform, and upskilled more than 780,000 driver-partners through GrabAcademy.

In 2021, Grab’s partners earned $8.9 billion on the platform, a 24 percent increase from 2020.

The company also contributed $20 million from the GrabForGood fund to provide free Covid-19 vaccinations for partners.

On-demand deliveries boomed at the height of the pandemic although the industry also saw an increase in road traffic accidents during this period.

Through additional safety measures and training, Grab’s accident rate for its delivery segment improved by 36 percent

year-on-year, even against strong growth in its delivery business.

More than 99.99 percent of Grab’s rides occurred without any incident.

To reducecgreenhouse gas emissions and plastic waste, Grab switched to powering all its corporate offices with 100 percent renewable energy.

Grab’s carbon offset and cutlery toggle features enabled users to make greener choices in everyday decisions.

The features contributed to the planting of over 42,000 trees regionally, offsetted more than 2,300 tonnes of greenhouse gas emissions through carbon credits, and reduced the use of more than 774 million sets of single-use cutlery.

Grab continues to invest in Southeast Asia and drive digital inclusion for marginalised groups, such as persons with disabilities (PWDs).

About one billion people, or 15 percent of the world’s population, experience some form of disability and PWDs are two to six times less likely to be employed versus persons without disabilities.

In a regional survey of driver-partners with disabilities, 73 percent reported they either maintained or increased their earnings by working with Grab.

Most, 80 percent of PWD driver-partners, said they felt fulfilled and satisfied with life by working with Grab.

Yet, only 2,100 PWDs earn an income on the Grab platform today.

Hence, Grab seeks to double the number of marginalised individuals who earn a living through its platform by 2025.

To enable this, Grab plans to launch Grab Access, a regional programme to lower the barriers for marginalised individuals to join Grab.

The programme will provide these individuals with special financial and training support to help them adapt into the platform.

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

Grab is also committed to working towards increasing the percentage of women on its leadership bench to 40 percent by 2030, up from 34 percent todate.

This ensures the company has diverse voices in management positions and considers a variety of views in implementing policies and decisions.

The company will continue to invest in mentorship and leadership programmes to support career development for female employees; create more comprehensive support networks for females in the workforce; invest in proactive measures such as data-driven studies and training programmes to help managers address unconscious gender biases in candidate interviews and performance reviews.

Grab continues to maintain a high gender wage parity, with female employees earning 98 cents to a dollar paid to male employees for performing a similar role at Grab.

Grab is likewise managing its carbon footprint to become carbon neutral by 2040 even as the business continues to grow over the years.

As a platform that facilitates on-demand mobility and deliveries, 96 percent of Grab’s total emissions in 2021 came from vehicles owned and operated by its drivers and delivery-partners.

Hence, a core part of Grab’s strategy is to help build an inclusive electronic vehicle (EV) ecosystem catering to the middle and middle-lower class.

For this reasin, Grab works with governments, charging infrastructure providers, and automakers across Southeast Asia to support greater EV adoption, and more.

Today, Grab operates the largest ride-hailing EV fleet in Indonesia, with 8,500 electric vehicles.

To reach carbon neutrality by 2040, Grab will continue to drive the transition to low emission vehicles among its partners, including transitioning 100 percent of its ride-hailing fleet in Singapore to low emission vehicles by 2030.

It seeks to achieve net zero operational carbon for all premises it operates by shifting to renewable energy by 2030.

It will continue to develop artificial intelligence and machine learning to optimize resource efficiency across all areas of its business and operations, such as order batching and ride-sharing, to reduce unnecessary travel.

It will also work with suppliers and vendors within its value chain to minimize emissions and invest in high quality carbon offsets in Southeast Asia and explore carbon capture solutions.

 
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