Reconomy doubles turnover in 2021

The broker said 2021 was a year of “high growth”, highlighting it now has over 3,000 employees across 80 countries and supports over 7,000 customers.

It added that it has reviewed its sustainability strategy “which continues to be aligned with and measured against the UN’s sustainable development goals and focuses on the creation of social, environmental, and business value”.

Values

Reconomy Group defined ‘pure social value’ as activity with a direct impact on people and the community, including volunteering, employment from hard-to-reach groups and spend with social enterprises.

Local and economic value were said to account for wider social impact such as local employment and spend with SMEs, with the data verified via Social Value Portal.

The report pointed out that the company has delivered £331 million delivered in social and economic value since 2018. Pure social value generated in the same period came up to £1.7 million. The value created through spending with social enterprises reached £2.9 million, contributing £342,000 of social value.

In terms of environmental value, “Reconomy Environmental Action Plan targets net zero across the Group’s operations by 2028 and also includes pathways for customers and suppliers”.

According to the document, the company’s carbon intensity against turnover decreased by 27% when compared to 2020. And, percentage of waste diverted from landfill rose by 1% since 2020, to 97%.

The Group also added it devoted 347 hours to mental health awareness, support, and wellbeing and developed 29 internships and apprenticeships.

‘Growth’

Reconomy’s CEO, Paul Cox, commented: “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.”