Climate Change Data

Readly International AB

Climate Impact & Sustainability Data (2021, 2022, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:100% for data centers (2021)
Total Energy Consumption:152.8 MWh/year (2021)
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate-friendly reading through digitalization
  • Empowerment through responsible content
  • Responsible content and countering fake news

Environmental Achievements

  • Reduced greenhouse gas emissions by 86% compared to printed equivalents, equivalent to approximately 15,400 tonnes of CO2e.
  • Data centers now entirely powered by renewable energy.

Social Achievements

  • Developed a gender diversity strategy and action plan.
  • Launched a Sustainability Committee.
  • Expanded content portfolio to include titles promoting diversity and inclusion (e.g., Cocoa Girl and Cocoa Boy).

Governance Achievements

  • Developed and implemented an Environmental Policy.
  • Strengthened the anti-corruption section of the Code of Conduct.
  • Approved a Board Diversity Policy.

Climate Goals & Targets

Long-term Goals:
  • Continue to acquire and distribute world-class content from trusted publishing sources.
  • Increase the portfolio of newspaper titles across all markets.
  • Raise awareness of the importance of quality journalism among our subscribers.
Medium-term Goals:
  • Increase the amount of emissions saved through digital reading on Readly.
  • Reduce negative environmental impacts from Readly operations.
  • Reduce negative environmental impact from Readly's supplier chain.
Short-term Goals:
  • 20% increase of emissions saved from digital magazine consumption (2022).
  • Implement environmental policy (2022).
  • Quarterly meetings with AWS (2022).
  • 10 of Readly's core suppliers to sign our Supplier Code of Conduct (2022).

Environmental Challenges

  • Minimizing Readly's environmental impact from business travel, energy use, and data centers.
  • Ensuring responsible content and countering the spread of fake news.
  • Attracting and retaining talent while promoting diversity and inclusion.
Mitigation Strategies
  • Reduced business travel due to the pandemic.
  • Transitioned to renewable energy sources for offices and data centers.
  • Implemented a Supplier Code of Conduct.
  • Developed a Diversity & Inclusion strategy.
  • Launched a Sustainability Committee.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct (implemented in 2020, further implemented in 2021)

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: UN Global Compact, OECD Guidelines for Multinational Enterprises, AA1000SES (stakeholder engagement)

Certifications: Null

Third-party Assurance: Öhrlings PricewaterhouseCoopers AB

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Allbright Green List for Equal Gender Balance (2021)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:88.1 tCO2e/year (Scope 1: 0, Scope 2: 19.9, Scope 3: 68.2)
Scope 1 Emissions:0 tCO2e/year
Scope 2 Emissions:19.9 tCO2e/year
Scope 3 Emissions:68.2 tCO2e/year
Renewable Energy Share:46% of total energy use
Total Energy Consumption:1.5 MWh/employee (2022)

ESG Focus Areas

  • Climate-friendly reading through digitalization
  • Empowerment through access to quality journalism
  • Responsible content and combating fake news

Environmental Achievements

  • Digital reading on Readly resulted in 87% lower greenhouse gas emissions than printed equivalents, equivalent to approximately 16,600 tonnes of CO2 eq.

Social Achievements

  • Launched partnerships to provide free access to Readly for families at Ronald McDonald Houses in Sweden.
  • Developed ethical guidelines for marketing campaigns, excluding collaborations with industries like tobacco, alcohol, and certain animal products.
  • Maintained a 43/57% gender ratio on the Senior Leadership team and 50/50% among those with leadership responsibilities, resulting in inclusion on Allbright’s Green List for Equal Gender Balance.

Governance Achievements

  • Implemented an updated travel policy, eliminating domestic flights and encouraging international train travel.
  • Took the first step towards standardizing future ESG reporting against the Sustainable Finance Disclosure Regulations (SFDR).

Climate Goals & Targets

Long-term Goals:
  • Achieve profitability at EBITDA level by 2025.
  • Retain and distribute world-class content from trusted publishing sources.
  • Increase the consumption of journalistic content on Readly.
  • Raise awareness of the importance of quality journalism among our subscribers.
  • Inspire users to constantly discover new content and diversify their reading behaviour.
  • Use our portfolio to curate engaging content for our readers.
  • Further encourage frequent use and expand engagement time.
  • Deepen the engagement with stakeholders in the supply chain in regards to social issues.
  • Increase the amount of emissions saved through digital reading on Readly.
  • Reduce negative environmental impacts from Readly operations.
  • Deepen the engagement with stakeholders in the supply chain in regards to environmental issues.
Medium-term Goals:
  • Increase the amount of emissions saved through digital reading on Readly.
  • Reduce negative environmental impacts from Readly operations.
  • Deepen the engagement with stakeholders in the supply chain in regards to environmental issues.
  • Inspire users to constantly discover new content and diversify their reading behaviour.
  • Use our portfolio to curate engaging content for our readers.
  • Further encourage frequent use and expand engagement time.
  • Deepen the engagement with stakeholders in the supply chain in regards to social issues.
Short-term Goals:
  • 10% increase of emissions saved from digital reading on Readly.
  • Business travel emission intensity per employee shall not exceed 2022 level.
  • Improve waste sorting across Readly’s offices to include more waste categories.
  • 40% increase of new articles in mobile-friendly format.
  • Develop a text-to-speech functionality.
  • 1 yearly user survey about misinformation.

Environmental Challenges

  • Lower subscriber growth affected the reduction of CO2 emissions.
  • Difficulty in finding concrete actions to reduce emissions from servers and data centers despite ongoing discussions with AWS.
  • Macroeconomic challenges such as inflation, rising energy costs, supply chain disruptions, and economic uncertainty.
  • Maintaining and developing company culture during rapid growth and workforce reduction.
Mitigation Strategies
  • Adjusted marketing spend to focus on profitable unit economics.
  • Regular meetings with AWS to explore further carbon footprint reduction.
  • Investing in future-proofing the company and integrating sustainability into business strategy.
  • Hiring a nearshore development team in Poland to meet increased tech needs.
  • Implementing flexible work arrangements while maintaining regular in-office meetings.

Supply Chain Management

Supplier Audits: Assessment of ten core suppliers to ensure compliance with Readly’s Supplier Code of Conduct or equivalent.

Responsible Procurement
  • Supplier Code of Conduct incorporated in all new contracts and contract renewals with publishers and other suppliers.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact, OECD Guidelines for Multinational Enterprises, SFDR

Third-party Assurance: Öhrlings PricewaterhouseCoopers AB

Awards & Recognition

  • Allbright’s Green List for Equal Gender Balance (2022)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:42.0 tonnes CO2eq
Scope 1 Emissions:0 tonnes CO2eq
Scope 2 Emissions:9.4 tonnes CO2eq
Scope 3 Emissions:32.6 tonnes CO2eq
Renewable Energy Share:79% fossil free, 78% renewable energy (heating, cooling, electricity)
Total Energy Consumption:1.3 MWh/employee
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:0.69 (GHG intensity (Scope 1+2+3)/(€M revenue))

ESG Focus Areas

  • Responsible content
  • Empowering readers
  • Climate-friendly reading

Environmental Achievements

  • Reduced CO2 emissions by 18,200 tonnes (9.7% increase from 2022), equivalent to emissions from producing and recycling 280,000 iPhones. Achieved 86% reduction in greenhouse gas emissions compared to print versions.
  • Improved waste sorting across offices, adding 4 additional categories. Organic waste sorting commenced in Stockholm, Växjö, and Berlin.
  • Reduced data stored in AWS S3 by approximately 125 TB.

Social Achievements

  • Launched audio functionality for wider access to journalism.
  • Conducted user surveys on misinformation attitudes and perceptions of fake news.
  • Conducted five editorial campaigns focusing on sustainability, mental health, LGBTQ+ rights, lifelong learning, and violence against women.
  • Formed a dedicated DEI committee and identified relevant metrics to monitor progress and outcomes.
  • Conducted an educational session for hiring managers about unbiased recruitment.

Governance Achievements

  • Implemented a new DEI policy.
  • Reviewed and updated the Code of Conduct.
  • Introduced a new third-party whistleblowing system.
  • Created a new Data Compliance unit.

Climate Goals & Targets

Long-term Goals:
  • Retain and distribute world-class content.
  • Increase emissions saved through digital reading.
  • Reduce negative environmental impacts from Readly operations.
  • Deepen engagement with stakeholders on environmental issues.
  • Inspire users to discover new content and diversify reading behavior.
  • Use portfolio to curate engaging content.
  • Further encourage frequent use and expand engagement time.
Medium-term Goals:
  • Increase consumption of journalistic content.
  • Raise awareness of quality journalism.
  • 10% increase of emissions saved from digital reading.
Short-term Goals:
  • 5% increase in total newspaper issues read.
  • Continue rollout of audio functionality.
  • Conduct user survey on fake news perceptions.
  • 5% increase of average active days during the two first weeks as trial.
  • 5% increase in average engagement time per FPS.
  • 4 editorial campaigns focusing on sustainability.

Environmental Challenges

  • Increase in fake news and disinformation.
  • Scope 3 emissions from business travel (7% increase from 2022).
  • Recruiting more women to the tech organization.
Mitigation Strategies
  • Ensuring all content is overseen by a publisher and editor-in-chief.
  • Implementing travel guidelines that do not permit domestic flights.
  • DEI initiatives, including forming a DEI committee and conducting unbiased recruitment training.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct reviewed and updated.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: UN Global Compact, OECD Guidelines for Multinational Enterprises, AA1000SES

Certifications: Null

Third-party Assurance: Öhrlings PricewaterhouseCoopers AB

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Audio functionality

Awards & Recognition

  • AllBright's green list (3rd place in Allbright Award)