Etsy to offset 100% of its carbon emissions from shipping
Etsy, a global ecommerce company headquartered in Brooklyn, NY, has become the first company of its kind to commit to offsetting 100% of its carbon emissions generated by shipping. Starting today, the company will track and make corresponding investments in environmental projects whenever its marketplace users ship their goods. These environmental projects reportedly include initiatives to protect over 10mn trees and support solar and wind clean power projects.
Etsy operates a global online marketplace through which vendors and consumers of unique, homemade and creative goods can exchange goods and services. In 2016, the company committed to becoming powered exclusively with renewable energy by 2020, and in 2018 achieved its goal of becoming zero waste across its operations.
Now, with 98% of its carbon emissions generated by shipping from vendor to buyer, Etsy is committing to counteracting its environmental impact.
To celebrate the launch of the initiative, Etsy has offset shipping emissions for the entire US ecommerce sector for February 28. In the US each day, shipped items cover an average distance of over 102bn miles - enough to travel to the moon and back 133,000 times. The company’s investments will counteract the release of 55,000 metric tons of carbon dioxide into the atmosphere, or the equivalent of protecting 100 square miles of forest for a year.
Josh Silverman, a spokesperson for Etsy wrote in a bog post: “While we are proud to be the first major online shopping destination to offset 100% of carbon emissions from shipping, we certainly hope we are not the last. Considering these offsets will cost less than one penny per package for Etsy, we don’t believe that cost should be a prohibitive factor for others to follow in our footsteps. For the benefit of future generations, how can we all afford not to take this action?”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.