On December 14, 2023, Carousell Group, the prominent multi-category secondhand platform in Greater Southeast Asia, released its pioneering Circular Economy Impact Report. This report, unprecedented in the Southeast Asian e-commerce and recommerce marketplaces, quantifies the Avoided Carbon Emissions resulting from users choosing secondhand items over new ones on three of the Group’s marketplaces.
Key Findings of the Circular Economy Impact Report:
Carousell Group’s user community avoided 116,577 tonnes of carbon emissions in four goods categories (Fashion & Luxury, Electronics, Furniture & Home Living, and Hobbies & Toys) in 2022.
This is equivalent to around 76% of the total trees in Singapore absorbing CO2 per year.
Almost 56% of purchases on the Carousell marketplace displaced the purchase of a new item.
On average across Carousell marketplace’s six key markets, 55% of surveyed users reported an increase in buying and selling of secondhand items in 2022 compared to 2021.
Launch Event with Notable Presence:
The report’s launch event, held at Carousell Campus, the Group’s regional headquarters, was attended by Mr Tharman Shanmugaratnam, President of the Republic of Singapore, among various industry partners and investors. Carousell Group’s Chief Strategy Officer, Mr Gaurav Bhasin, delivered a keynote presentation on the report’s key findings.
Measuring Impact and Partnerships:
To quantify its impact, Carousell partnered with Vaayu, a European climate tech company leveraging proprietary AI and machine learning technology and utilizing its Life Cycle Assessment (LCA) database of over 600,000 product data points. The report’s scope covers four goods categories of Carousell, Laku6, and REFASH, with plans to expand to include all remaining categories and integrate other Group brands Mudah.my, Chợ Tốt, and OneShift in the coming years.
Individual Transactions and Circular Economy Impact:
The report emphasizes the significance of individual transactions in contributing to the overall circular economy impact. For instance, buying a secondhand sofa on Carousell can, on average, save up to 131 kg of CO2e, equivalent to almost six trees absorbing CO2 per year.
Group’s Sustainability Commitment:
Carousell Group remains committed to sustainability and plans to progressively expand its recommerce programs and features across multiple platforms and markets to accelerate the future of secondhand.
Leadership’s Statements:
Mr Gaurav Bhasin, Chief Strategy Officer, Carousell Group: “By facilitating secondhand transactions, Carousell Group holds a central role in advancing the circular economy alongside our users in the Greater Southeast Asia region. As a key enabler of the circular economy in our region, we have a responsibility to lead by example and measure the potential positive impact of choosing secondhand products over new ones in a trustworthy and transparent way.”
Ms Namrata Sandhu, Co-founder and CEO, Vaayu: “Circular business models, like recommerce, offer a clear path to reducing retail’s impact on our planet, which is why we are so proud to partner with Carousell Group to quantify its climate impact and empower communications with its users.”
Mr Quek Siu Rui, Co-founder and Chief Executive Officer, Carousell Group: “Our mission is to make secondhand the first choice for everyone. With the release of the report, we hope more people realize how easy it is to embrace secondhand as a lifestyle and contribute to a greener world, without compromising on the things they enjoy.”
source: taiwannews.com.tw
