Bolt is supporting climate projects around the world — an initiative made possible by Milkywire, a platform dedicated to financing climate projects.

There are 45 climate projects in Milkywire’s Climate Transformation Fund, all of which have been selected to accelerate global net-zero goals. Some of the projects include:

Decarbonising hospitals in Africa.
Offering regeneration training to farmers in Tanzania.
Developing carbon removal technology in Scotland.

Making funds available for these climate projects allows them to develop and carry out the work much sooner — speeding up the fight against climate change.

Why we’re supporting climate projects with Milkywire

Milkywire is a leading platform dedicated to growing the finances available to high-quality environmental projects worldwide. So far, they’ve supported over 125 climate projects across 40 countries.

Milkywire does not conduct carbon offsetting (purchasing carbon credits for emissions rather than actively reducing them). Instead, the company invests funds into projects with lasting climate impact.

Which projects will receive funding?

The projects in the Climate Transformation Fund aim to achieve long-term carbon reduction or removal and are split into three core pillars:

Decarbonisation.
Restoring and protecting nature.
Durable carbon removal.

Learn more about each of these pillars below.

Pillar one: Decarbonisation

Decarbonisation means reducing or completely removing carbon dioxide emissions from energy usage.

Fortunately, fossil-free energy solutions exist, but the uptake is slow in many areas due to a lack of funds and here is where Milkywire is helping.

For example, the Clinton Health Access Initiative (CHAI) works to transition hospitals in South Africa to renewable energy. This step could reduce the annual carbon emissions of these hospitals by 130,000 tonnes.

Image by New Energy Nexus © Milkywire

Image by New Energy Nexus © Milkywire

Pillar two: Nature protection and restoration

Trees help to cool the land, keep water in the ground, and shade plants, all of which benefit farmers. For farmers to experience these benefits, they need mature trees.

Justdiggit is an environmental organisation training farmers in Africa to grow small trees into mature ones using natural methods. By focusing on the plants already growing rather than planting new trees from scratch, many of the problems that arise with reforestation, such as not fostering biodiversity, are avoided.

Image by Plant with Purpose © Milkywire

Image by Plant with Purpose © Milkywire

Pillar three: Durable carbon removal

Carbon emitted from fossil fuels can be removed from the atmosphere and stored. However, much of the technology making this possible is in the early stages of development and requires significant investment.

Supporting these projects with funding can help to speed up the development process, making it an affordable technology for storing carbon in the future.

In Scotland, the Carbon Removers (previously Carbon Capture Scotland), have developed a way to capture waste biogenic carbon from whisky distilleries and store it permanently. Not only does their technology reduce costs and energy usage, it makes reporting on carbon capture far more accurate.

Working towards net-zero shared mobility

Supporting climate action projects around the world is in addition to our responsibility to manage our own impact. At Bolt, we’re aiming to offer carbon net-zero shared mobility by 2040.

Shared mobility can transform a city, including yours, by:

Reducing congestion.
Offering an alternative to private car ownership.
Decreasing the demand for parking spaces.

Learn more about sustainability at Bolt and play your part in making cities for people, not cars, by downloading the Bolt app.

Funding the planet’s future: Climate projects receive support from Bolt

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