Reconomy explained that the Reconomy Environment Action Plan (REAP) is designed to proactively implement its climate and nature action plan, aligned with the UN’s Global Sustainable Development Goals, to reduce the operational impact of the company and its partners on climate change, material scarcity, and biodiversity decline.

Reconomy's pathway to zero carbon

Alongside the publication of REAP, Reconomy shared it has also signed up to the Taskforce on Nature-related Financial Disclosures (TNFD) which will be incorporated into its Taskforce on Climate-related Financial Disclosures (TCFD) to further enhance its sustainability reporting.

Reconomy said it is the "first" UK-based company in its sector to join TNFD, with its membership set to be announced at Biodiversity COP16 in Colombia later this year.

The company is reportedly already a member of the UK Business and Biodiversity Forum and has signed up for the UK Nature Positive Business Pledge.

Additionally, Reconomy explained it is supporting local environmental initiatives by creating 'wild highways' for dormice in collaboration with The Shropshire Wildlife Trust and landowners.

It believes this project mitigates business travel emissions, enhances biodiversity, and involves employee participation in the National Hazel Dormouse Monitoring Programme.

Diane Crowe, group sustainability director at Reconomy, said: "The publication of the Reconomy Environmental Action Plan is another important milestone in the delivery of our ambitious Nature and Climate Strategy. Alongside adopting the TFND, it demonstrates Reconomy’s commitment to transparently plotting our way towards near-term environmental ambitions and our net zero carbon science-based targets. We now have a clear and achievable timeline – combining a range of local and wider international activity – for achieving our ambitions and leading the way towards a more circular economy."

In 2021, Reconomy acquired the technology platform ReBound which helps retailers such as ASOS, Gymshark and Sweaty Betty to manage their returns more sustainably.