UN case features TWU
TWU features on “The Business Case for Eco-Innovation” by United Nations Environment Programme.
“Three Wheels United links cleaner auto-rickshaws with financial and social services
Three Wheels United (TWU) is a start-up company in India with an innovative financing scheme which has triple bottom line benefits. An auto-rickshaw is a common transport means in India that provides a livelihood for at least 5 million people. The business-as-usual model is that the drivers rent high-polluting vehicles to work up to 12 hours a day earning around US $3 under poor working conditions. The TWU business model is based on three principles: access to financial and social services (through negotiating with local banks), provision of alternative sources of revenue and cleaner technology for the vehicle. Under the scheme, both the banks and the drivers benefit. The drivers’ revenue increases by approximately 70 %, they can become the owner of their vehicle, and engine replacements reduce fuel costs while the bank recovers 100 % of loans.”