It has said that the plan is designed to reduce the operational impact of it and its partners on climate change, material scarcity and biodiversity decline.
The action plan lays out several milestones to get Reconomy to net zero carbon across its value chain by 2040 (see below).
Alongside this, the circular economy specialist has said it is now the first of its peers to adopt the Taskforce on Nature-related Financial Disclosures (TNFD). It will feature on the list of adopters to be announced at the Biodiversity COP16 in Colombia later this year.
The TNFD will be incorporated into Reconomy’s Taskforce on Climate-related Financial Disclosures (TCFD) reporting in an effort to further develop its sustainability reporting.
Reconomy is also a member of the UK Business and Biodiversity Forum and has signed up to the UK Nature Positive Business Pledge.
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.”
Reconomy has said that it is also making efforts to support local environments. For example, Reconomy is creating landscape level ‘wild highways’ for dormice through its collaboration with The Shropshire Wildlife Trust and local landowners.
The programme 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.
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