Reconomy has released its 2023 Annual Sustainability Report, which is aligned with the Global Reporting Initiative (GRI) Standards and Taskforce for Climate-Related Financial Disclosures (TCFD).
Reconomy’s latest sustainability benchmarks have been set and the company has received approval from the Science Based Targets initiative (SBTi) for its climate goals.
In 2023, Reconomy reduced its full-scope carbon intensity by 49.7% (2022: 13%) and now diverts 98.5% (2022: 97.5%) of all waste managed through its operations away from landfill. With 95.4% of its electricity now coming from renewable sources (2022: 67%), Reconomy is well on track to meet its target to use 100% of its electricity through renewable sources by 2028. Reconomy also maintained its EcoVadis Gold certification.
On social commitments, the company spent £278m procuring from SMEs and delivered £174m social and local economic value. Reconomy contributed 1,470 volunteering hours to a variety of causes and achieved a 66 net promoter score. Reconomy has generated a further £1.3m in pure social value, increasing the total delivered since 2018 to £3.8m. Additionally, 27 internships and 24 apprenticeships were funded. The company also took significant steps to support its colleagues by implementing enhanced maternity leave, improving the DEI working group, and delivering 750 hours of training on mental health and wellbeing.
