Riskified
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Sustainability
Social Achievements
- High-end labels shifted production to creating masks and developing hand sanitizer during the pandemic to meet healthcare needs.
- Many brands offered unprecedented discounts and promotions to support consumers during lockdown.
Climate Goals & Targets
Environmental Challenges
- Increased fraud due to expanded delivery options and discounts.
- Account takeovers on marketplaces.
- Friendly fraud due to relaxed return policies.
- Balancing consumer trust with fraud prevention.
- Maintaining brand reputation during crisis.
- Meeting consumer expectations for speed and delivery options.
- Balancing sustainability goals with cost considerations.
Mitigation Strategies
- Automated fraud detection to ensure timely order fulfillment.
- Implementing real-time fraud detection models to adapt to evolving consumer behaviors.
- Leveraging elastic linking to identify excessive return abuse.
- Offering various payment options (e-wallets, installment payments).
- Using promo codes to encourage shopping while mitigating risk.
- Shifting towards seasonless fashion to reduce waste.
- Focusing on high-quality, timeless products in a sustainable model.