Singapore-based ride-hailing firm Grab announced on May 18 its three ESG (Environmental, Social, and Governance) goals: to double the number of marginalized individuals earning an income on its platform by 2025; to achieve 40% female leadership by 2030; and to be carbon neutral by 2040.
“We are focusing our ESG goals on driving inclusive growth and closely managing the environmental footprint of our ecosystem,” said Anthony Tan, Grab co-founder and chief executive, in a statement.
“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.”
(Triple bottom line is a theory that says companies should have three bottom lines — profit, people, and the planet — instead of one.)
Grab Access, a program that provides financial and training support to marginalized individuals, will launch this year.
About three-fourths (or 73%) of driver-partners with disabilities that were surveyed between December 2021 and January 2022 said they maintained or increased their earnings by working with Grab, yet only 2,100 PWDs (persons with disabilities) earn an income on the platform.
Grab also aims to increase the number of women in leadership positions to 40% in 2030 — up from the present 34% — by investing in mentorship and leadership programs, and studies that address unconscious biases during candidate interviews and performance reviews.
In the Philippines, half of its leaders are women.
To meet its carbon neutrality goal by 2040, Grab will continue its transition to low-emission vehicles. Singapore’s ride-hailing fleet should be composed entirely of low-emission vehicles by 2030. In Indonesia, the company already operates a ride-hailing fleet of 8,500 electric vehicles. — Patricia B. Mirasol