Climate Change Data

Reconomy

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:190,368.90 tCO2e/year
Scope 1 Emissions:11,138.62 tCO2e/year
Scope 2 Emissions:295.57 tCO2e/year (market-based), 2,996.90 tCO2e/year (location-based)
Scope 3 Emissions:178,934.7 tCO2e/year
Renewable Energy Share:77.85% of total energy use
Total Energy Consumption:16,845,322.58 MWh/year
Water Consumption:32.35 m3/year
Waste Generated:3,996.14 tons/year
Carbon Intensity:62.3 tCO2e/£M annual gross profit (Scope 1 & 2), 50.7 tCO2e/£M annual gross profit (Scope 3)

ESG Focus Areas

  • Environmental value
  • Social value
  • Business value

Environmental Achievements

  • Reduced full-scope carbon intensity by 49.7%
  • 95.4% of electricity from renewable sources
  • Nearly 98.5% of waste diverted from landfill (UK Recycle outsourced)

Social Achievements

  • Delivered £1.3 million of pure social value
  • 1,470 volunteering hours contributed
  • Achieved an industry-leading +66 net promoter score (NPS)
  • Implemented enhanced maternity leave
  • Delivered 750 hours of training for mental health and wellbeing

Governance Achievements

  • Maintained EcoVadis Gold certification
  • Received approval from the Science Based Targets initiative (SBTi) for climate goals
  • Developed sustainability-related pay arrangements for executives (to launch in 2024)

Climate Goals & Targets

Long-term Goals:
  • Reach net zero GHG emissions across the value chain by 2040
Medium-term Goals:
  • Reduce absolute Scope 1 and 2 GHG emissions to 33.6% by 2028 from a 2021 base year
  • Reduce Scope 3 GHG emissions 44% per USD value added by 2028
  • Increase tonnage reused/circular vs total by 2025
Short-term Goals:
  • Reduce carbon intensity on 2021 levels by 12% by 2028
  • Increase active annual sourcing of renewable electricity to 100% by 2028
  • Implement Climate and Nature Positive Strategy and Reconomy Environmental Action Plan (REAP) by 2024

Environmental Challenges

  • Data availability and quality in measuring Scope 3 emissions
  • Supply chain disruptions due to geopolitical instability
  • Uncertainty of government policy
  • Risk of greenwashing accusations
  • Need for increased recycling infrastructure
Mitigation Strategies
  • Improved carbon reporting methodology (moving away from spend-based data)
  • Implementation of a Carbon Reduction Plan aligned to 1.5°C
  • Investment in proprietary technologies for data management and harmonising operations
  • Engagement with regulators and policy makers
  • Investment in UK infrastructure to increase recycling capacity

Supply Chain Management

Supplier Audits: 1,815 supplier site visits in 2023

Responsible Procurement
  • Sustainable Procurement Policy (based on ISO 20400)
  • Supplier Sustainability Charter requiring CO2e reduction targets
  • Code of Conduct for all preferred and approved suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (acute and chronic impacts)
  • Operational disruption
  • Property/infrastructure damage
Transition Risks
  • Increased cost from legislation (GHG emissions pricing, carbon tax)
  • Mandates on products and services
  • Change in demand for services
  • Cost of low-carbon transition
  • Unsuccessful investment in new technologies
Opportunities
  • Resource efficiency
  • Energy source use
  • Products and services
  • Markets
  • Resilience

Reporting Standards

Frameworks Used: EcoVadis, GRI, TCFD, SBTi, CDP

Certifications: ISO 14064, ISO 45001 (Casepak)

Third-party Assurance: Achilles (for carbon data), KPMG (financial audit)

UN Sustainable Development Goals

  • SDG 12 (Responsible Consumption and Production)
  • SDG 13 (Climate Action)
  • SDG 3 (Good Health and Well-being)
  • SDG 14 (Life Below Water)
  • SDG 15 (Life on Land)
  • SDG 5 (Gender Equality)
  • SDG 8 (Decent Work and Economic Growth)
  • SDG 10 (Reduced Inequalities)

Reconomy's business model contributes to these SDGs through waste reduction, resource reuse, renewable energy use, employee wellbeing initiatives, and community engagement.

Sustainable Products & Innovation

  • RecoTek technology hub
  • DigitalXchange supply chain integration
  • Valpak’s Insight Platform
  • ReDress textile solution

Awards & Recognition

  • EcoVadis Gold certification
  • SBTi approval for climate goals
  • Three Green World Awards
  • Two International CSR Excellence Awards