Case study Etsy
Etsy has a history of strong sustainability practices including committing to 100% renewable electricity in 2016, running ‘Zero Waste’ operations in 2017, and becoming the first ecommerce company to offset 100% of its shipping emissions in 2019. To drive ESG accountability, Etsy began reporting impact metrics alongside financial results in its 10-K in 2018.
In late 2020, Etsy gained approval for its 2030 emissions reduction targets by the Science-Based Target initiative (SBTi). At the time these targets met the highest level of ambition. However, by late 2021 scientific consensus and the standards for target setting had evolved. Most notably, by November 2021, the SBTi had released the first globally recognized Net-Zero Standard. In addition to this, Etsy had acquired two new companies.
Recognizing these important changes, Etsy decided to establish an updated baseline and align its efforts with the new SBTi Net-Zero Standard. This would ensure its emissions reduction targets were in-line with what the latest science deemed necessary to achieve the goals of the Paris Agreement and reflect its expanded business. Etsy hired EcoAct to increase its ambition and align with the new Net-Zero Standard.
Etsy is the global marketplace for unique and creative goods. It’s home to a universe of special, extraordinary items, from unique handcrafted pieces to vintage treasures. Etsy’s mission is to keep commerce human and they aspire to help make creative entrepreneurship a path to economic security and personal empowerment.
EcoAct has been a valuable partner to Etsy over the past few years. We’ve really appreciated their attention to detail, professionalism and technical expertise. Most recently, EcoAct’s support during the development of our net-zero target - marrying an in-depth understanding of the SBTi Net Zero Standard with Etsy’s business activities - streamlined the application process and, ultimately, ensured our target would be validated.
EcoAct worked with Etsy to review the SBTi Net-Zero Standard, incorporate its newly acquired subsidiaries’ footprints into its carbon inventory, and, ultimately, develop a robust net-zero model that formed the foundation for its SBTi application. This work helped Etsy understand:
Taking into consideration both the SBTi’s new Net-Zero Standard and a detailed understanding of Etsy’s emissions reduction levers, EcoAct helped Etsy develop an updated set of near- and long-term net-zero targets.
Overarching Net-Zero Target: Etsy, Inc. commits to reach net-zero greenhouse gas (GHG) emissions across the value chain by 2040 from a 2020 base year.
Near-Term Targets:
Long-Term Targets:
Guided by its SBTi-approved net-zero target, Etsy has implemented a number of initiatives including procuring 100% renewable energy for its offices and remote worker energy usage, developing an open-source methodology to measure energy usage from cloud computing, spearheading advocacy campaigns to push for electrification of USPS vehicles, and partnering with a third-party vendor to offer US sellers more sustainable packaging options.
Choose EcoAct for industry-leading expertise in climate strategy and sustainability solutions. We’re here to guide your business through every step towards achieving your sustainability goals while supporting your operational success and market reputation.
Science-based targets 
CDP