Reconomy Group Launches Latest Sustainability Report

Reconomy Group, has launched its 2021 Sustainability Report, announcing the generation of over £331 million of social and economic value across the communities in which it operates.

This is the first time Reconomy Group has consolidated its annual Sustainability Report across its full portfolio of businesses, which include Reconomy, ACM, AWS Nationwide, Valpak and ReBound Returns. The Group now has over 3,000 employees across 80 countries and supports over 7,000 customers in meeting their ESG goals.

2021 was a year of high growth across Reconomy Group as the company expanded into 17 new markets and doubled its turnover. As part of its 2021 Sustainability Report, Reconomy Group has reviewed and refreshed its sustainability strategy which continues to be aligned with and measured against the UN’s Sustainable Development Goals, (SDGs) and focuses on the creation of social, environmental, and business value.

Highlights from the report include:

  • £331 million delivered in social and economic value* (since 2018)
  • £1.7 million of pure social value generated (since 2018)
  • £2.9 million VCSE Spend contributing £342,000 of social value
  • 27% reduction in carbon intensity against turnover (v2020)
  • 97% of all waste managed diverted from landfill (compared to 96% in 2020)
  • 347 hrs to mental health awareness, support, and wellbeing
  • Development of 29 internships and apprenticeships

The generation of social value continues to be driven by Reconomy’s flagship RSVP (Reconomy Social Value Programme) which provides support for hard-to-reach groups seeking to enter employment and helps care leavers make the transition to adult living through its partnership with the National House Project.

Key to the delivery of the Group’s environmental objectives is the Reconomy Environmental Action Plan (REAP), which targets Net Zero across the Group’s operations by 2028 and also includes pathways for customers and suppliers.

Commenting on the launch, Reconomy’s CEO, Paul Cox, said: “The exponential growth we experienced in 2021 makes it more important than ever for our strategies and targets to be consistently deployed across the Group. This scale and global footprint, however, also presents a great opportunity to help even more businesses embrace positive change through the reduction of carbon emissions and conserving finite natural resources.”

 “We will continue to drive forward with a technology-led strategy that focuses on dynamic, accurate, actionable data and dedicated service propositions for a broad range of industries. All of this is underpinned by our sustainability strategy and the generation of social, environmental, and business value.”

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* Pure social value is activity that has a direct impact on people and the community such as volunteering, employment from hard-to-reach groups and spend with social enterprises. Local and economic value accounts for wider social impact such as local employment and spend with SMEs.  Data is verified by the Social Value Portal.