Etsy, Inc. is an American e-commerce company that operates in the online marketplace sector. It was founded in 2005 by Rob Kalin, Chris Maguire, and Haim Schoppik, with a mission to create a platform that would connect buyers and sellers of unique, handmade, and vintage goods. Today, Etsy has grown into a global community of over 4.3 million sellers and 81 million buyers, with a focus on sustainability and social responsibility.
One of the key areas of focus for Etsy is decarbonisation. The company is committed to reducing its carbon footprint and has set ambitious targets to achieve carbon neutrality by 2030. To achieve this, Etsy has implemented a range of initiatives to reduce its greenhouse gas emissions, including investing in renewable energy, energy efficiency measures, and sustainable transportation.
One of the ways in which Etsy is investing in renewable energy is through corporate power purchase agreements (PPAs). PPAs are contracts between a renewable energy developer and a corporate buyer, where the buyer agrees to purchase a certain amount of renewable energy at a fixed price over a set period of time. By entering into PPAs, Etsy is able to support the development of new renewable energy projects and reduce its reliance on fossil fuels.
In 2019, Etsy signed a 15-year PPA with a wind farm in Texas, which will provide the company with 360,000 MWh of renewable energy annually. This is equivalent to the electricity consumption of over 40,000 homes and will enable Etsy to offset the emissions from its operations by over 40%.
Etsy has also invested in corporate energy initiatives to reduce its energy consumption and improve its energy efficiency. The company has implemented a range of measures to reduce its energy consumption, including upgrading its lighting systems, improving its HVAC systems, and implementing energy-efficient IT equipment. These measures have enabled Etsy to reduce its energy consumption by over 30% since 2014.
In addition to its focus on renewable energy and energy efficiency, Etsy is committed to reducing its environmental impact in other areas. The company has implemented a range of initiatives to reduce waste, including reducing packaging waste, encouraging sellers to use sustainable materials, and implementing a recycling program for its offices.
Etsy is also committed to promoting social responsibility and sustainability throughout its supply chain. The company has implemented a range of initiatives to support its sellers in adopting sustainable practices, including providing resources and tools to help them reduce their environmental impact. Etsy also works with its suppliers to ensure that they meet its ethical and environmental standards.
Overall, Etsy is a company that is committed to sustainability and social responsibility. Its focus on decarbonisation, renewable energy, and energy efficiency, as well as its initiatives to reduce waste and promote sustainable practices throughout its supply chain, demonstrate its commitment to creating a more sustainable future. By investing in renewable energy and reducing its carbon footprint, Etsy is setting an example for other companies to follow and demonstrating that sustainability can be good for business.