Reconomy is a leading, international provider of services , dedicated to promoting and enabling the circular economy. Operating across the resource cycle, Reconomy offers a comprehensive range of solutions to help their customers better manage resources, reduce waste and optimisze supply chains. By leveraging advanced technology and a highly skilled global network, Reconomy builds sustainability ‘loops’ that create circular opportunities for business.
Historically, Reconomy relied on spreadsheets to track carbon emissions. As the company grew, this method became increasingly inefficient and time consuming. During the initial introduction with Achilles, Reconomy found the Toitū Carbon Reduce programme alignment with ISO 14064-1, TCFD, SBTi, and CDP disclosure impressive, as it promised a more streamlined solution for carbon tracking. The primary goals were to enhance data organisation, achieve year-on-year improvements, and comply with stricter regulations.
The Solution
Toitū Carbon Reduce programme is designed to help businesses measure, manage, and reduce their carbon emissions. It provides a structured approach to setting science based targets, improving data accuracy, carbon reporting and implementing effective carbon reduction strategies. The programme supports companies in tracking Scope 1, 2, and 3 emissions, facilitating comprehensive carbon management across the entire value chain.
Implementation and Impact
In 2023, Reconomy achieved significant sustainability and commercial milestones. They reduced their full-scope carbon intensity by 49.7% and now divert 98.5% of all waste managed through their operations away from landfill. With 95.4% of their electricity now coming from renewable sources, they are on track to meet their target of using 100% renewable electricity by 2028.
In December 2023, they validated their science-based targets with a near term goal of achieving absolute reduction for Scope 1 and 2 by 33.6% by 2028 and a 44% reduction for Scope 3. The overarching goal is to reach net zero by 2040 across the entire value chain, which they working towards achieving.
The programme has been instrumental in pinpointing areas with significant impacts and necessary actions. This transition has marked the beginning of Reconomy’s more data-driven approach to sustainability.
Science Based targets to Make a Positive Impact.
One of the challenges that Reconomy has faced along their Carbon journey was the vast amount of information required for science-based targets. Toitū Carbon programmes comprehensive data, as well as the clear guidance on how to interpret it was an invaluable support tool in gathering the information that was required.
According to Diane Crowe, Group Sustainability Director, what makes the Toitū Carbon offering stand out is that it is about taking action, rather than just the data you collect. ‘The end goal is to make an actual and meaningful positive impact’
Stakeholder Response:
Stakeholders have responded positively to the changes brought by Reconomy’s participation. The information gathered and the improvements made are now part of the company’s annual sustainability report and proactively shared through various outlets. Aside from this, it supports in complying with mandatory reporting requirements such as TCFD. This transparency has helped in managing extensive information, focusing on actionable insights rather than just data collection.
Carbon Reporting Best Practices:
Since implementing the programme Reconomy has started to shift from a spend-based approach to a more direct information and data driven process. This change has refined their approach, particularly in accelerating Scope 3 initiatives across their own supply chain.
Educating their suppliers is a current business focus, with plans to expand their approach further by actively managing and assessing their own supply chain in a more proactive and data driven way. The end goal is to increase the scope of Reconomy’s positive impact though improvement and compliance.
Long-term, Reconomy aims for comprehensive sustainability and net zero carbon by 2040. Their partnership with Achilles will evolve to support these objectives and we look forward to continuously providing valuable insights and guidance.
Diane Crowe, Group Sustainability Director:
“Based on our experience, the hardest part is getting started. You can’t manage what you don’t measure. Once you take the first step, you become better equipped. This programme has proven invaluable for our growing business, offering insights from auditors that guide us as we grow”
To discuss your needs surrounding Carbon measurement, monitoring and reduction do please get in touch.
