“Lime Slashes Greenhouse Gas Emissions by 16.3% in 2023: A Sustainable Success Story”
Lime, the popular electric scooter and bicycle rental company, has made significant strides in reducing its greenhouse gas emissions by 16.3 percent in 2023. This achievement comes as Lime redesigned its vehicles and switched its operational fleet to electric trucks. Since 2019, Lime has managed to cut emissions by a cumulative 30 percent, as reported in the company’s latest “carbon inventory.”
In addition to the emissions reduction, Lime saw a 32 percent increase in bookings for its rented vehicles, reaching $616 million in revenue and turning a profit of nearly $100 million.
Lime has set ambitious goals for emissions reductions by 2030, which have been validated by the Science Based Targets initiative. The company aims for a 90 percent cut in Scope 1 and Scope 2 emissions, which include its operations and electricity usage footprint. For Scope 3 emissions, which consider the impact of the scooters and bicycles Lime rents, the company is targeting a 97 percent reduction in “carbon intensity” per passenger-kilometer.
The progress in emissions reduction can be attributed to Lime’s four-year redesign of its vehicles, with close to 90 percent of its shared fleet now featuring a new “modular” design that allows for larger batteries to be swapped in and out. This design change has led to longer trips, greater rider availability, and reduced maintenance.
Lime’s sustainability council, comprised of two dozen staff members from various departments, meets quarterly to embed sustainability into the company’s business objectives. The council focuses on identifying barriers to achieving carbon goals and driving progress in emissions reductions.
Looking ahead, Lime plans to further reduce emissions by electrifying its operational fleet, with close to 70 percent of the fleet already electric. The company aims to have a 100 percent electric operational fleet by the end of 2023. Challenges in finding logistics service providers with electrified equipment have slowed progress, but partnerships with California companies are expected to accelerate the transition.
While the cost of electrifying drayage operations can be steep, companies like Lime are influencing investment into electric vehicles for logistics. With California’s push to phase out new diesel trucks by 2040, more companies are considering transitioning to electric fleets to reduce emissions and combat air pollution.
Overall, Lime’s commitment to sustainability and emissions reductions showcases the company’s dedication to environmental stewardship and innovation in the transportation industry.