Swvl, a Dubai-based provider of transformative mass transit and tech-enabled shared mobility solutions, has released its first annual Environmental, Social and Governance (ESG) Report.
The report highlights Swvl’s continued commitment to encouraging people in achieving greater social and economic equity, operating with sustainable business practices that protect the environment, supporting the societies in which it operates, advancing diversity, equity and inclusion, and creating value for all stakeholders.
Swvl’s ESG strategy, ‘Right to Mobility,’ focuses on addressing safety, accessibility, societal, and environmental challenges with differentiated mobility solutions, such as humanizing the daily commute, to which Swvl provides a safe and reliable daily commuting experience to its 51 percent female student customer base while achieving a 99.98 percent accident-free rate.
According to the report, the company has reduced the average walking distance to bus stops in developing markets to about 0.64 km. It also helped to cut the average delay across the network in developing markets to about 5.3 minutes, a 50 percent improvement compared to developed markets.
Mostafa Kandil Co-Founder & CEO Swvl
“As a young and rapidly growing company, we have made tremendous progress towards our goal of removing barriers to seamless mobility for the masses, while making a significant positive environmental impact. Swvl is a mission-driven company focused on leveraging our platform for the betterment of society, and we take the role that we play in the lives of all Swvl stakeholders extremely seriously. We are delivering a more sustainable future for the world through our differentiated mass transit solutions, in turn creating value for all stakeholders.”
The annual cost of traffic in the United States is $88 billion, whereas the cost of Cairo’s congestion as a percentage of Egypt’s GDP is around 4 percent. Swvl has successfully solved these issues by lowering congestion by 14.4 million person-hours and generating income for about 17,000 Swvl micro-entrepreneurs, all while actively offering female drivers with similar economic access and opportunities as their male counterparts.
Mr. Youssef Salem, Swvl CFO said, “Swvl is built on a core ESG mission: the right to sustainable mobility. This includes protecting the planet by increasing ride-sharing options to reduce the number of vehicles on the road, ensuring riders have access to safe and affordable transit regardless of income level and advocating for captains by increasing their earnings and attracting female captains into what has been a predominantly male-dominated industry.”
The transport sector is the second-largest contributor to CO2 emissions globally, with about $10.7 billion annually on a per capita basis. Swvl has saved about $332 million of CO2 emissions and launched the first electric vehicles in Cairo, showcasing its commitment to lowering the global carbon footprint of the transport sector.
