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.