GlobalData offers a comprehensive analysis of Grab Holdings, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Grab Holdings’ ESG performance. GlobalData’s company profile on Grab Holdings offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Grab Holdings is committed to achieving its goals of carbon neutral platform and zero packaging waste by 2040. Grab Holdings' latest filings mentioned the keywords 'Emissions' and 'Greenhouse Gas Emissions' most number of times in relation to 'Climate Change'.
The company has formulated a four-lever strategy to help achieve this target, which includes reducing emissions from its operations, investing in electric vehicles and renewable energy sources, and encouraging greener country electricity grids where it operates. Grab has also set specific carbon targets, such as the percentage of vehicles in its ride-hailing services that are electric and the percentage of offices using renewable energy. In 2022, the company reported its Scope 1 GHG emissions of 14,913 t CO2e and Scope 3 GHG emissions of 3,317,244 t CO2e. Additionally, Grab Holdings Location-based Scope 2 GHG emissions were 51,208 t CO2e and Market-based Scope 2 GHG emissions were 46,468 t CO2e in 2022.
Grab has taken steps to reduce its carbon emissions, including purchasing Renewable Energy Certificates (RECs) that meet international standards and are sourced locally where available, encouraging the use of low-emission rental vehicles, and implementing a cutlery opt-out feature to reduce waste. Grab has also partnered with governments, automakers, and energy providers to build an electric vehicle ecosystem in Southeast Asia. The company is committed to taking climate action as a priority and reducing GHG emissions across its value chain, even as it grows its business.
Grab reported that more than 48,000 tonnes of GHG emissions were reduced through zero-emission transportation modes, low emission rental vehicles and efficiency optimization. Moreover, over 8,100 tonnes of waste was diverted from landfills, including 898 million sets of single-use cutlery. Furthermore, over 200,000 trees were planted and around 30,000 carbon credits were directed to protect and conserve forests across Southeast Asia.
In conclusion, Grab’s total GHG emissions increased to 3.35 million tonnes CO2e in 2022. The company's commitment to reducing its carbon emissions and investing in renewable energy sources is a step in the right direction towards a more sustainable future. Grab is a member of EP100 and has committed to powering all its premises with renewable energy by 2030. The company's emission reduction plans are aligned with international standards, such as the Verified Carbon Standard, and it has been reporting on its greenhouse gas inventory since 2020.