Cabify Climatetrade

Cabify moves forward with carbon offsetting with ClimateTrade

For the third consecutive year, Cabify continues to spearhead the reduction of CO2 emissions through blockchain technology, maintaining its status as the sole carbon-neutral ridesharing app in both Latin America and Europe.

Thanks to our blockchain technology, Cabify was able to take sustainability to the next level by digitizing, tracing and ensuring the transparency of both the offsetter and the environmental projects they were supporting.

Cabify is, since 2018, 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 user and company journeys through the application (neutral in carbon), having sustained this commitment for three consecutive years. In this time, Cabify has offset more than 310 thousand tons of CO2 through environmental protection projects, equivalent to the protection of 12 million trees in the Amazon rainforest. Simultaneously, the company is making progress in reducing emissions and promoting the electrification of fleets in 2025 in Spain and in 2030 in Latin America.

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Tons of CO2 offset. That would be equivalent to protecting 12 million trees in the Amazon rainforest.

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Since 2018, the sole company in Europe and Latin America to offset 100% of emissions from user journeys in its app.

The Customer

Cabify, a leading multi-mobility ridesharing company in Latin America and Europe, has been at the forefront of carbon offset initiatives for the past three years. Cabify is committed to providing sustainable, carbon-neutral transportation options to its users and is dedicated to reducing its carbon footprint.

Cabify mobility and transportation success stories
Mobility industry success story

The Challenge

Road transport represents 11.7% of global greenhouse effect emissions, and urban centers are responsible for 70% of these, according to the International Energy Agency and C40 Cities, so cities are key in the solution against climate change, which has to go through moving towards the decarbonisation of mobility.

Cabify recognized the critical need to address carbon emissions in the transportation sector, especially in urban areas where they contribute significantly to greenhouse gas emissions. To maintain its leadership as a carbon-neutral ridesharing app, Cabify needed a transparent and efficient solution to offset carbon emissions and engage its users and corporate partners in its sustainability efforts.

The Solution

Cabify forged a strategic alliance with ClimateTrade, as we are a global leader in carbon neutrality services that leverages blockchain technology for efficiency and traceability. Through this partnership, Cabify implemented a blockchain-based system to digitize, trace, and ensure the transparency of its carbon offsetting process.

The collaboration enabled Cabify to accurately measure and offset carbon emissions generated by both its corporate activities and user journeys through the application. Cabify extended its carbon offset projects to new countries, reinforcing its environmental commitment. The use of blockchain technology ensured that the offsetting process was transparent and verifiable, providing users with real-time information about the carbon footprint of their trips.

Cabify also invested in high-value compensation projects for planetary health in Peru and Chile, including projects to prevent deforestation in the Peruvian Amazon and forest projects in Chile for energy co-generation, water pollution prevention, and forest fire risk reduction. These projects were supported by a blockchain-based system that guaranteed transparency in the allocation of funds.

Biodiversity credits

The Results

Thanks to the partnership with ClimateTrade, Cabify has reaffirmed its position as a pioneer in carbon-neutral leadership, maintaining its unique status as the sole carbon-neutral ridesharing app in both Latin America and Europe for the third consecutive year. 

Their dedication to environmental sustainability is evident in the remarkable impact they’ve achieved. Cabify successfully offset over 310,000 tons of CO2 emissions, a substantial achievement that is equivalent to safeguarding 12 million trees in the precious Amazon rainforest.

Furthermore, their efforts to drive sustainable urban mobility are evident in their strides towards emissions reduction and the promotion of fleet electrification, closely aligned with the objectives of urban mobility decarbonization.

In addition to these environmental initiatives, Cabify’s carbon offset programs have made a tangible impact on various United Nations Sustainable Development Goals, such as Climate Action, Life in Terrestrial Ecosystems, Decent Employment, Reduction of Inequalities, and Partnerships to achieve the Goals.

 

Why ClimateTrade?

Cabify chose to partner with ClimateTrade for its expertise in blockchain-based carbon offset solutions. ClimateTrade’s innovative approach to sustainability, using blockchain to ensure transparency and traceability of funds, was a game-changer for Cabify’s sustainability efforts. The partnership allowed Cabify to provide its users with real-time information about their environmental impact and support high-impact compensation projects, ultimately contributing to a more sustainable and carbon-neutral future.

By using ClimateTrade’s API, Cabify was able to embed sustainability directly into its business practices, offering carbon-neutral transportation options to its users and corporate partners, thus advancing its commitment to environmental, social, and economic sustainability.

Cabify felt that the decentralization of offsetting is key to directly reaching its positive impact not only in terms of environmental protection but also socio-economic development and commitment to local green employment to communities where Cabify offers safe, sustainable and sustainable mobility options. accessible.