The Spanish multimobility platform Cabify has presented its new Sustainable Business Strategy for the period 2022-2025, after having completed the company’s Master Plan, which covered the 2019-2021 period. This new strategy, aligned with the United Nations Sustainable Development Goals, is structured around 3 pillars (People, Planet, Prosperity) and 7 lines of action, which will group more than 70 projects in its first year of execution.
This guide will allow Cabify to have specific goals until 2025, which will help the company to follow a roadmap that continues to make progress in terms of sustainability. David Pérez, SVP of Stakeholder Relations, explains that “all areas of the company have participated in the creation of this strategy. We seek synergies that have a positive impact on our business, the environment and society.” Investment in innovation is key to developing the different lines of action and Cabify’s commitment involves committing a minimum of 40 million euros dedicated to R+D+i until 2025.
As for the pillar ‘Planet’, which is firmly committed to combating climate change, one of the most notable milestones is the goal of decarbonizing the fleet in Spain and Latin America. In this sense, Cabify maintains the goal that 100% of the trips on its platform be in decarbonized or electric fleets by 2025 in Spain and 2030 in Latin America.
The company has been working on the electrification and decarbonisation of its fleet progressively for years. Already in 2016, Cabify launched an exclusively electric category, and several tests were carried out to implement this type of vehicle, taking into account the volume of cars in operation and the intensive use made of them. In the context of its new sustainable business strategy, after various tests and analyzes of the sector in Spain, the company lays the foundations to be able to advance in the promotion of the progressive decarbonization of the fleets that collaborate with the Spanish mobility company.
In this line, It is worth mentioning the recent approval of the European Investment Bank (EIB or EIB) of a loan of 40 million euros to Cabify for the fleet decarbonization project. This financing is aimed at the deployment of 1,400 electric vehicles in the coming years in Spain, as well as the necessary infrastructure for their operation. In the words of the EIB, this project has “a significant and positive social and environmental impact. It also has important environmental benefits in terms of positive externalities, including the reduction of CO2, NOx and particulate matter (PM) emissions.”
Advances in infrastructure and new Eco category for companies
Vecttor, a subsidiary of the Cabify Group, has its own infrastructure of superchargers that allows the daily operation of a hundred 100% electric vehicles, a much higher figure if we refer to other types of cars, such as plug-in hybrids. This is the first step in an ambitious electrification project that will help provide the necessary infrastructure so that thousands of zero-emission vehicles in the sector can have favorable daily operations and achieve the goal of total decarbonisation of the fleet in Spain by 2025.
Cabify It also advances in promoting the decarbonization of collaborating fleets, through agreements with electric vehicle companies that can offer more favorable conditions, or with agreements to facilitate the charging of this type of car.
Besides, Cabify has announced the launch of a new category, called ‘Cabify Eco’, which will be available to companies that use the Cabify service for the mobility of their employees. This category, which will begin operating in the coming weeks, will only offer trips in electrified vehicles (hybrids, plug-in hybrids and electric vehicles), a common demand from companies with a strong commitment to the environment. Cabify, for its part, will continue to offset the emissions of all trips made through the app, a commitment that has remained unchanged since 2018, being the first mobility app in its category to be “Carbon Neutral” in Europe and America Latin.
Direct impact on more than 750,000 people by 2025
In the ‘People’ pillar, the lines of action focus on having an ‘integrity-based business culture’ and ‘retaining talent in the office and being a platform to grow behind the wheel’. It is worth highlighting objectives such as facilitating access to the labor market for 70,000 people belonging to social segments with greater employability difficulties.
By last, on the ‘Prosperity’ pillar, Through the growth of its activity, the company seeks to generate a positive impact on society and local communities to make cities a better place to live. With the development of projects to offer accessible services and, on the other hand, projects to reduce inequality, Cabify expects to impact 750,000 citizens in the next 4 years through initiatives in the different local communities.
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