RATING
Positive
SECTOR
Transportation Mobility as a Service
Chief Sustainability Officer
Matthew Richardson
Contact Details:
LinkedIn
Stock Exchange and Ticker
NYSE: UBER
Website
Contact
T: (800) 353-8237
E.mail: N/A
Listing
- #712 Global 2000 (2022)
Awards
- Comparably Awards – data was collected from employees leaving anonymous culture ratings and reviews about their employers.
- Best Company Perks & Benefits
- Best CEOs for Diversity 2021
- Best Company for Women 2021
- Best Company Culture 2021
- Best HR Team 2021
- Best Places to Work in the Bay Area 2021
- Best Global Culture 2021
- Best Company Outlook 2021
- Recognized in Mexico as a Most Ethical Company for 2 years in a row,
- Obtained Purple Campaign certification for Global Anti-harassment Program in Mexico
Revenue
$17.46 B
Market Capitalisation
$2.522 T
Employees
29,300
Content source
Uber Sustainability Report
Evaluation of Uber
Uber’s 2022 ESG Report includes the company’s sustainability initiatives to address environmental, social, and governance (ESG) issues, relevant to the company and stakeholders, including investors, employees, and cities, and the drivers, couriers, merchants, and consumers. The date of the report is as of December 31, 2021, unless otherwise noted, because the content may cover issues through July 2022.
Uber’s 2022 ESG Report includes the company’s sustainability initiatives to address environmental, social, and governance (ESG) issues, relevant to the company and stakeholders, including investors, employees, and cities, and the drivers, couriers, merchants, and consumers. The date of the report is as of December 31, 2021, unless otherwise noted, because the content may cover issues through July 2022.
The report is comprehensive, it includes where the company aligns with SDGs, has some targets set in achieving zero-emissions across Scope 1, 2 and 3, and only initiatives when it comes to social issues. The targets have been submitted for SBTi validation in 2021, which is a step forward, but the progress towards reaching the targets seems slow.
What is under the company’s control the transition to renewable energy, Uber is falling behind, only mentioning that data-centres in the US are 100% offset by renewable energy, not the entire operations, nor the other locations. Furthermore, when it comes to Scope 3, indeed Uber has programs to encourage drivers to purchase EV’s (e.g. Green Future Program), as well as for consumers to choose to ride in an EV or hybrid vehicle (e.g. Uber Comfort Electric), however, local regulations and also driver’s willingness to switch contribute to the slow transition. CO2 emissions are being exacerbated by privately owned cars of Uber that are powered by gasoline and diesel.
The company has earned LEED and Well Certification, but it can’t be assessed the percentage of employees or of the buildings that are covered by these certifications.
Awards regarding workforce and work environment have been granted by Comparably only, based on Uber’s employees leaving anonymous culture ratings and reviews about the company.
Last but not least, unfortunately, they do not have a positive reputation in the media, especially when it comes to lobbying governments and instigating violent acts between taxi drivers and Uber employees.
Overall, since progress towards the few targets is under 50% and mainly initiatives regarding other SDG targets, the business is rated a D with a positive Outlook.
Sustainability Scorecard
Uber Company Activity
Uber Technologies, Inc. (Uber), based in San Francisco, provides mobility as a service, ride-hailing (allowing users to book a car and driver to transport them in a way similar to a taxi), food delivery (Uber Eats and Postmates), package delivery, couriers, and freight transportation. Via partnerships with other operators such as Thames Clippers (boats) and Lime (electric bicycles and motorized scooters), users are also able to book other modes of transport through the Uber platform in some locations. Uber sets fares, which vary using a dynamic pricing model based on local supply and demand at the time of the booking and are quoted to the customer in advance, and receives a commission from each booking. It had operations in approximately 72 countries and 10,500 cities as of December 31, 2021
Uber Sustainability Activity - As per company declarations
Uber has a roadmap for reducing the environmental impact by reducing carbon emissions, focusing on the use of EVs, to reach their 2040 Zero Emissions goal. Uber is managing this transition by implementing new initiatives in cities around the world, such as their Uber Green initiative, an option for users to choose Uber’s EV and hybrid rides, is the most widely available on-demand mobility solution in the world for no- or low-emission rides. It’s currently offered across 3 continents, 18 countries, and 120+ cities
Certificate & Labels, Standards and Frameworks
- LEED certified buildings (headquarter)
- Well Platinum Certification for Health & Safety
- Task Force on Climate Related Financial Disclosures (TFCD)
- ISO 27001
- Purple Campaign certification
- SOC 2 certification
- SASB Internet Media and Services
- SASB Road Transportation
Uber in the news: Press Reviews and Social Media
Uber to offer cheaper Wallbox Chargers to drivers in Europe – Electrive, 09 November 2022
Uber and Barcelona-based Wallbox Chargers are expanding their cooperation to include seven European countries. Uber drivers in the UK, Germany, the Netherlands, Spain, France, Portugal and Belgium may now buy home chargers from Wallbox at discounted rates. While Uber says it is ambitious to become a zero emissions platform in Europe by 2030, this largely follows policies. Drivers must increasingly get in line with cities installing or expanding low-emission zones and Uber says drivers were going electric in Europe nearly five times faster than average European private car owners.
Uber broke laws, duped police and secretly lobbied governments, leak reveal – Davies & et al., 12 July 2022
More than 124,000 confidential documents leaked to the Guardian, these files expose attempts to lobby Joe Biden, Olaf Scholz and George Osborne. The article also finds, through texts revealed, that Emmanuel Macron secretly aided Uber lobbying in France. On top of this, the company used ‘kill switch’ during raids to stop police seeing data.
Highlights from Uber Sustainability Report
Achievements
Environmental
- Set goals to achieve 100% rides in zero-emission vehicles, on micro mobility, or through public transit by 2040 globally
- As of Q2, 2022, 26,000 average monthly active zero-emission vehicle drivers across the Uber platform in Canada, Europe, and the US, serving 13.3 million trips (in 2022, the worldwide average monthly trips equal over 600 million trips)
- The use of zero-emission vehicles (ZEVs) on Uber more than doubled since 2020
- Scope 1, 2, and 3 emissions calculations have received limited assurance from Lloyd’s Register Quality Assurance
- Joined the Science Based Targets initiative (SBTi) and the Climate Pledge, and have submitted their science-based target in 2022 for validation
- Indexed to recommendations of the Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD)
- Matched 100% of the energy used across US workplaces with renewable energy
- Achieved LEED Gold and WELL Platinum at their headquarters
Social
- Driver and courier well-being: Surveyed drivers and couriers through various sessions globally, asked employees (including executives) to drive and deliver in order to understand the experience better, and published transparent papers about opportunities to improve independent work
- People and culture: Published the 5th report covering human capital management, DEI issues, and more
- Local impact: Published dozens of posts, papers, and impact reports on critical ESG and stakeholder issues
- Urban use: Published analysis of the study Uber commissioned in 8 cities around the world on trends in urban development, transportation, and ride sharing
Governance
- Data privacy: Launched the new Privacy Center, a central hub for users to manage their privacy preferences, and released latest Government Transparency Report
- Data security: Obtained important certifications and reports for core business lines (ISO 27001, SOC 2, SOC 2 Type 2)
- Policy and strategy: Published the Human Rights Policy, Environmental Policy, Policy Against Bribery and Corruption, and Global Tax Strategy
- Political activities: In 2022, Uber released the US Political Engagement report, which includes a summary of US Corporate Political Activity Policy, board-level oversight, and direct lobbying activities
Weaknesses and Setbacks
- More than 124,000 confidential documents leaked to the Guardian
- Files expose attempts to lobby Joe Biden, Olaf Scholz and George Osborne
- Emmanuel Macron secretly aided Uber lobbying in France, texts reveal
- Company used ‘kill switch’ during raids to stop police seeing data
- Former Uber CEO told executives ‘violence guarantees success’
- 322% increase in Scope 3 carbon emissions
- Release of the Political Engagement report only in the US in 2022, adds to the information released from confidential documents to intensive lobbying in France
Targets vs Progress Reported
| Target | Results reported |
|---|---|
| - 2030 - Net-zero climate emissions from all corporate operations (offices and data centre) - 2040 - Net-zero climate emissions across all lines of business (mobility, delivery, and freight) and operations |
- Help drivers get into zero-emission vehicles as fast as possible - Empower consumers to choose greener and car-free products - Be transparent about every year’s impact each year and being accountable for improvement - 308% increase in carbon emissions across scopes 1, 2 & 3, 3,234,923t of CO2 in 2020 to 13,218,818t of CO2 in 2021 |
| 2025 - 100% of rides in London and Amsterdam are zero-emission | - A 72% increase in carbon emissions in the UK, from 182,326t CO2 in 2020 to 313,810t CO2 in 2021 - In London, Uber doubled the number of fully electric vehicles since the launch of Uber Green in March 2021, with 90% of all new drivers who join the platform doing so with a fully electric car - A 3% increase in carbon emissions in the Netherlands, from 11,721t of CO2 in 2020 to 12,117t of CO2 in 20219 |
| - By 2025 offset 100% of energy use in US offices with renewable energy - By 2030 expand to match the energy use in global corporate operations with renewable energy |
- Close to 50% of the data-centre electricity consumption is matched with renewable energy, note that it only mentions data-centres, not entire operations, so progress is not really at 50% |
| 2025 - 50% of all km in 7 European capitals are zero-emission | - 6.2% of on trip miles in ZEVs across Europe for Q2 2022 (3.0 percentage points increase vs. Q2 2021) - In Paris, 45% of all kilometres on the platform are covered in EVs or petrol hybrids, up from 15% 2 years ago - In Lisbon, fully electric kilometres make up over 12% of kilometres travelled on the platform - Uber Green, Uber’s EV and hybrid rides option, is the most widely available on-demand mobility solution in the world for no- or low-emission rides It’s currently offered across 3 continents, 18 countries, and 120+ cities |
| 2025 - $800M to support drivers’ transition to battery EV | - Drivers are shifting to ZEVs fastest in Europe, at over 4.5x the rate of the general public - Green Future program provides access to resources valued at $800 million to help hundreds of thousands of drivers transition to battery EVs by 2025 in Canada, Europe, and the US - To date, Uber has provided $245 million through a combination of direct incentives, savings from partners, and schemes such as our Clean Air Plan, designed to support vehicle acquisition |
| 2030 - Uber is operating as a zero-emission mobility platform in major cities in Europe, the US and Canada | - 2.6% of on trip miles in ZEVs across the US and Canada for Q2 2022 (2.2% increase vs. Q2 2021) |
| 2030 - 100% of rides in US, Canada, Europe in battery EVs, micromobility, or through public transit (sustainable rides) | - Uber has launched a new EV-only option for riders called UberComfort Electric. This option allows riders to request a trip in a premium EV such a Tesla or Polestar As of June 2022, Uber Comfort Electric is available in Los Angeles, San Francisco, San Diego, and plans to expand to other cities over the course of 2022 - The use of zero-emission vehicles (ZEVs) on Uber more than doubled since 2020 - The carbon intensity of trips on Uber in the US and Canada is 34% lower than the carbon intensity of traditional taxis that do not use-hail technology |
