REAP is designed to proactively implement Reconomy’s Climate and Nature Action Plan, which is aligned with the UN’s Global Sustainable Development Goals, to reduce the operational impact of it and its partners on climate change, material scarcity and biodiversity decline.
The action plan lays out an environmental pathway consisting of clearly defined milestones that will plot Reconomy’s journey towards net zero carbon across the value chain by 2040 to achieve both its near-term environmental ambitions and net zero carbon science-based targets.
Alongside the publication of REAP, Reconomy 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) reporting to further develop its sustainability reporting.
Reconomy becomes the first UK based company in its sector to sign up to the TNFD and will be on the list of adopters to be announced at the Biodiversity COP16 in Colombia later this year. It is already a member of the UK Business & Biodiversity Forum and has signed up to the UK Nature Positive Business Pledge.
While already making significant progress against its wider Climate and Nature Action Plan, as outlined in the 2023 Sustainability Report, Reconomy is also supporting its local environments. For example, to mitigate business travel across the entire group’s operations, Reconomy is creating landscape level ‘wild highways’ for dormice through its collaboration with The Shropshire Wildlife Trust and local landowners.
This gives employees the opportunity to volunteer by assisting the National Hazel Dormouse Monitoring Programme, support measurable carbon sequestration and increase biodiversity as well as protect the landscape character of the Shropshire Hills National Landscape.
Diane Crowe, Group Sustainability Director at Reconomy, commented: “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.”