Lyft might not be as well known as Uber among the general public, but the ridesharing service maintains a loyal customer base. A large segment of drivers and riders prefer Lyft to Uber by a wide margin. Lyft’s management does understand Uber possesses the stronger brand name. So, Lyft continues to take steps to capture attention. Recently, the company made a strong commitment to utilizing renewable energy. The company plans on becoming a carbon neutral business. Achieving such a goal requires enormous work. Lyft feels the company is up to the task.
The path to arriving at an utterly carbon-neutral state won’t come without costs. Lyft intends to invest enormous sums — millions of dollars — towards curtailing its emissions impact. The planning doesn’t only involve rides. Management now targets all facets of company operations for emissions reductions.
The company hopes to institute several actions by 2025 to reduce negative impacts on the environment. The date exists for Lyft to reach its goal of becoming 100% carbon neutral though. Current plans do involve providing roughly one billion electric vehicle-powered rides annually. At present, this goal appears lofty. As the popularity and availability of electric cars increases, the number won’t be out of reach.
Lyft understands the very nature of ridesharing means significant carbon emissions. Traditional vehicles burn gasoline, which creates emissions. Lyft facilitates untold billions of rides across the globe each year. Lyft does so at fair prices to riders and competitive payments to drivers. Unfortunately, the cost to the environment isn’t always favorable. By taking direct steps to address the environmental impact, Lyft shows a willingness to give something back.
Corporate social initiatives also come with marketing benefits. Corporations don’t always take actions to help the environment. Many corporations, sadly, contribute great harm. Lyft’s decision to do something positive for the environment sets it apart. The action assists with branding the company in a good light. Positive branding brings the potential for higher sales. Riders who care for the environment might choose Lyft over Uber.
Grand corporate initiatives also gain press coverage. Lyft may draw the public’s attention through news reports about its carbon neutral strategy. Positive news coverage has mainly upsides.