Etsy sets ambitious science-based near and long-term net-zero targets

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:

1. What key levers the company has to drive net-zero aligned decarbonization and the potential of these levers;
2. What projected absolute emissions would look like under different business growth scenarios aligned with a net-zero pathway.

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:

• Etsy, Inc. commits to reduce absolute Scope 1 and 2 GHG emissions 50% by 2030 from a 2020 base year.
• Etsy, Inc. also commits to reduce Scope 3 GHG emissions 52% per million dollars of gross profit by 2030.

Long-Term Targets:

• Etsy, Inc. commits to reduce absolute Scope 1 and 2 GHG emissions 90% by 2040 from a 2020 base year.
• Etsy, Inc. also commits to reduce Scope 3 GHG emissions 97% per million dollars of gross profit by 2030.

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.