Uber Eats and Visa Partner for Greener Restaurant Packaging

Rhea-AI Summary

Uber (NYSE:UBER) has partnered with Visa (NYSE:V) to support small and medium-sized businesses in adopting sustainable packaging solutions through a new program. Launched on January 16, 2023, in Davos, Switzerland, the initiative allocates $1 million in grants to qualifying Uber Eats restaurants in key cities including New York and Los Angeles. This effort follows the successful Grants for Growth program, which provided $10,000 microgrants to U.S. small business owners. Both companies aim to reduce packaging waste and address consumer demand for sustainability, a priority highlighted by research from the US National Restaurant Association.

Positive

• Partnership with Visa enhances brand reputation and commitment to sustainability.
• $1 million in funding for sustainable packaging can help attract eco-conscious consumers.
• Support for small businesses aligns with consumer demand for sustainability.

Negative

• Challenges in transitioning to sustainable packaging due to high costs and supply chain issues.
• Ongoing uncertainty for small businesses recovering from pandemic-related impacts.

DAVOS, Switzerland, Jan. 16, 2023 /PRNewswire/ -- Uber (NYSE:UBER) and Visa (NYSE:V) today announced a new program designed to support small-and medium-sized businesses in their transition to green and sustainable packaging solutions, as part of a broader year-long effort to support SMBs who use Uber Eats to grow their businesses. 

Support for restaurants in New York, Los Angeles, London, Paris and Madrid to source sustainable packaging solutions.

Together, the two companies will make $1 million accessible to qualifying Uber Eats restaurants in New York, Los Angeles, London, Paris and Madrid to be used towards funding sustainable packaging solutions to help transition to a greener future, which hospitality industry research indicates is a top priority for 2023.

Uber and Visa have launched this new initiative in Davos, Switzerland, where the companies are highlighting impact from their shared 2022 Grants for Growth program that has supported US small business owners still recovering from the pandemic and other unexpected events. Merchants received microgrants of $10,000, used for payroll, paying outstanding debt to vendors, upgrading payment technology infrastructure, and other immediate operational costs.

"Building on the success of our shared support for small and medium-sized businesses, I'm very happy to be turning our efforts with Visa towards how we can help restaurant owners reduce packaging waste and contribute to the fight against climate change," says Pierre-Dmitri Gore-Coty, SVP and Global Head of Delivery for Uber. "Single-use packaging is used in nearly every takeout order worldwide—with Visa and our restaurant partners we can work towards reducing waste and helping small businesses thrive."

"With consumers continuing to express desires to live more sustainably, businesses across sectors have a notable opportunity to adopt more sustainable practices to meet this demand," said Douglas Sabo, Chief Sustainability Officer, Visa Inc. "Visa is excited to expand on our partnership with Uber Eats to help small businesses to not be left out of the sustainable business transformations this moment requires."

A 2022 study by the US National Restaurant Association indicates that while the transition to sustainable packaging is a priority to many restaurants, the cost—and continued supply chain issues faced by the hospitality industry—make it difficult. It's the hope of Uber Eats and Visa that this new program is a small step in a positive direction for small business owners. Details of the new partnership, including how restaurants can qualify and apply for funding will be shared here in the coming months.

In 2020, Uber made the ambitious commitment to be a zero-emission mobility platform by 2040. To learn more, visit https://www.uber.com/us/en/about/sustainability/. Visa has committed to net-zero emissions by 2040, and in 2020 achieved carbon neutrality and transitioned to 100% renewable electricity across its operations. To learn more, visit https://www.visa.com/esg.

About Uber
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 15 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Media Contact
Uber
press@uber.com

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SOURCE Uber

FAQ

What is the new program launched by Uber and Visa?

Uber and Visa launched a program to support small businesses in transitioning to sustainable packaging solutions, providing $1 million in grants.

How much funding is available for Uber Eats restaurants in the new program?

The program allocates $1 million for qualifying Uber Eats restaurants.

Which cities are included in the Uber Eats and Visa sustainable packaging program?

The program supports restaurants in New York, Los Angeles, London, Paris, and Madrid.

When was the partnership between Uber and Visa announced?

The partnership was announced on January 16, 2023.

What previous initiative did Uber and Visa implement to support small businesses?

They previously launched the Grants for Growth program, providing $10,000 microgrants to U.S. small business owners.