Lime, a popular electric scooter and bike rental company, has made significant strides in reducing its greenhouse gas emissions by implementing new technologies and operational strategies. According to the company’s latest “carbon inventory,” Lime has cut its emissions by 16.3 percent in 2023, bringing its total cumulative reductions to 30 percent since 2019.
In addition to the emissions reductions, Lime has also seen impressive growth in its bookings, with a 32 percent increase to $616 million in revenue. The company reported a profit of close to $100 million, indicating that its sustainability efforts are not only beneficial for the environment but also for its bottom line.
Lime has set ambitious goals for emissions reductions validated by the Science Based Targets initiative. By 2030, the company aims for a 90 percent cut in Scope 1 and Scope 2 emissions, which include its operations and electricity usage, and a 97 percent reduction in “carbon intensity” per passenger-kilometer for Scope 3 emissions related to its rented vehicles. While Lime has achieved a 59.5 percent cut in Scope 3 emissions so far, there is still work to be done to reach its targets.
One of the key factors driving Lime’s emissions reductions is the redesign of its vehicles, particularly the switch to a new “modular” design that allows for larger batteries to be swapped in and out of bikes and scooters. This new battery technology has doubled the size of the previous model, enabling scooters to travel longer distances and reducing maintenance needs. Additionally, Lime has focused on electrifying its operational fleet, with close to 70 percent of vehicles now electric.
The company’s sustainability council, comprised of two dozen staffers from various departments, meets regularly to ensure that sustainability goals are integrated into Lime’s business objectives. Lime calculates that its scooters have already replaced 135 million car trips and saved 24 million liters of gasoline, resulting in 54 million kilograms of carbon dioxide avoided by riders.
Looking ahead, Lime plans to transition its entire operational fleet to electric vehicles by the end of 2023. While the transition presents challenges, such as the higher cost of electric tractor-trailers and load constraints, partnerships with companies like Hight Logistics and Forum Mobility are helping accelerate the shift to electric transportation.
As more companies focus on electrifying their fleets in response to regulatory and environmental pressures, Lime stands out as a leader in sustainable transportation solutions. By investing in new technologies and operational strategies, Lime is not only reducing its environmental impact but also setting a positive example for the industry as a whole.
In a recent article on GreenBiz, it was discussed why Lime, a popular electric scooter company, uses big electric trucks to haul its small electric scooters. The company has opted to use medium duty electric trucks for its fleet rather than traditional diesel trucks. This move is part of Lime’s commitment to reducing its environmental impact and promoting sustainability in its operations. The switch to electric trucks not only aligns with Lime’s overall mission but also helps reduce emissions and noise pollution in urban areas where the scooters are used. Overall, this decision demonstrates Lime’s dedication to incorporating sustainable practices into all aspects of its business.