Impact Fund: Projects that are making an impact

There are companies that, without having doing good in their core business, manage to become catalysts for significant social and environmental changes. In fact, an increasing number of organizations are integrating sustainability guidelines into their business model to generate a positive impact that makes a difference.

At Glovo, we understand that often, it’s not just about the end result, but also about how we, as companies, conduct our operations. That’s why a few years ago, we decided to incorporate sustainability guidelines into our business model to generate a positive impact. Our goal is to grow Glovo and contribute to strengthening the economy while making a positive impact on people and the environment.

In 2021, this commitment led us to create our Impact Fund, a unique initiative in the industry where a small percentage of the profit from every order processed at Glovo goes towards funding impact and sustainability projects. This way, as the company grows, we will be able to invest more and, as a consequence, the greater the impact will be in the places where we operate. After two years of operation, we have already invested a total of 5 million euros and have established an innovative funding channel for long-lasting impact projects.

As our company grows, so does the impact of our actions. That’s why we are so committed to supporting our partners, because if they grow, we grow, and vice versa. We are in this together. Through Glovo Local, we invest in small and medium-sized businesses, and provide them with a range of tools that enable them to go digital and expand their online channels. In a market where process efficiency, data analysis, user experience, and innovation in products and services are becoming increasingly important, a digital transition is essential. At Glovo, we know that technology has a big impact on small and medium-sized businesses. It helps them to optimize their resources, reach more customers, and increase their sales. In 2023 alone, 15,000 partners from 13 countries where we operate benefited from Glovo Local through our promotional campaigns, 765 attended courses on digital skills, and 40 received support from our crisis relief fund,

Along with small business, delivery drivers are also a top priority for us. Through the Glovo Couriers Pledge, implemented in all countries where Glovo operates, except Spain due to regulatory constraints, we help enhance their social benefits, regardless of the job they do or their employment situation in the country. One example is our G-Learning program, which supports our delivery drivers in their professional development, while enhancing their knowledge and skills, so that they can pursue new employment opportunities. To date, about 20% of our delivery drivers have taken part in training programs on entrepreneurship or financial education, for example.

In line with this training initiative, our Impact Fund addresses the challenge posed by the gender gap in the business world by funding bootcamps for women. Bootcamps—training programs designed to teach basic skills and prepare participants for the challenges of the professional world—can play an important role in integrating women into technical roles in companies. In 2023, 103 women between the ages of 22 and 35 participated in these programs.

This commitment to contribute and to give back to our ecosystem also involves the communities in the areas where we operate. Glovo Access is a last-mile logistics service that brings technology closer to NGOs and public administrations. We use it to help different non-profit organizations to distribute food to vulnerable families, providing them with free access to our logistics services and covering shipping costs. Since March 2020, we have delivered over 4.2 million meals to people in need. In addition, thanks to Glovo Access’ social projects, which mostly involve managing surplus food, we have saved more than 900 tons of food from going to waste in the 23 countries where we operate. This has had a very positive impact on the environment.

Ensuring the protection and conservation of the environment is also a responsibility for us. We know that fighting climate change and reducing carbon emissions are two of the main challenges of the 21^st century. This is why, at Glovo, we are committed to the Science Based Targets Initiative (SBTI) to reduce our carbon footprint by 42% by the year 2030. We have also set a target that by that date, 92% of our orders will be delivered in sustainable packaging and 65% of our delivery fleet will use alternative fuel vehicles. Currently these vehicles account for 35% of our fleet.

The footprint for change is a reality at Glovo.