ThredUp, an online marketplace for secondhand clothing, has released its third annual impact report, providing a comprehensive overview of the company’s environmental, social, and governance (ESG) approach.
Based on a 2021 materiality study, ThredUp’s most recent report summarises its progress towards its corporate ESG goals for 2023, concentrating on 12 major areas where it may have the greatest influence.
One of the most important things to remember from the report is that the company handled more than 200 million used fashion items because, through its Rescues and Aftermarket programs, it kept all of the products that didn’t sell through its online marketplace out of landfills.
ThredUP accomplished a number of significant milestones in 2023 that demonstrate its dedication to sustainability and social impact, such as successfully recirculating 2.2 million used goods via its Resale-as-a-Service (RaaS) platform. By the end of the year, the company’s RaaS platform had 47 brand agreements, including well-known companies like Athleta, J. Crew, Tommy Hilfiger, and Kate Spade.
Through its Rescues and Aftermarket programs, ThredUp’s environmental goals were reached, diverting from landfills 100 per cent of the products that were not resold in its marketplace. Furthermore, the organisation supported forestry initiatives by planting 800 trees through the Trees for the Future program, which was made possible by the purchase of 103,000 pounds of paper from Community Printers.
ThredUp made sure that all Clean Out bags that customers returned were sent to The Azek Company in an ongoing effort to promote recycling. This led to the recycling of 111,000 pounds of materials into decking goods.
As a founding member of the American Circular Textiles (ACT) policy group, where it actively promoted progressive textile policies, ThredUp furthered demonstrated its leadership in sustainability.
