Oct 7, 2024
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:
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.
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.
The projects in the Climate Transformation Fund aim to achieve long-term carbon reduction or removal and are split into three core pillars:
Learn more about each of these pillars below.
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.
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.
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.
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:
Learn more about sustainability at Bolt and play your part in making cities for people, not cars, by downloading the Bolt app.
