An online retailer makes a carbon-offset promise, and others follow suit.
Etsy is finally profitable, and new CEO Josh Silverman is thinking more deeply about the company’s social role. Earlier this year, Etsy became the first e-commerce platform to offset 100% of shippers’ carbon emissions by funding carbon-reduction projects. Because it’s difficult to control emissions from shipments Etsy doesn’t handle itself (its sellers do the shipping), “offsets are really a viable and credible way” to address them, says Adam Klauber of the Rocky Mountain Institute. Etsy may also be inspiring others: 3Degrees, a firm that helps companies (including Etsy) reach sustainability goals, says it has seen an uptick in inquiries since Etsy’s announcement.
Internet Services and Retailing
|Prior Year Rank||-|
|Revenues ($M) (Last Fiscal Year)||$604|
|Profits ($M) (Last Fiscal Year)||$77|
|Market Value ($M) as of 8/12/19||$6,622|