Owing to its vast Scope 3 footprint, the retail industry at large accounts for over 25% of global emissions and 40% of the global plastic usage. Wary of the situation, and faced with consumer and legislation-induced pressure, the retail industry is starting to act.
An Oxford Economics study showed that 52% of the organizations had commenced sourcing sustainable materials for product manufacturing or merchandising, and 62% claim to have sustainability plans in place. And yet, just under 20% of the retailers are on course to curb their emissions and prevent the rise in global temperatures (of no more than a 1.5⁰C).
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EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to manage risk and compliance, drive decarbonization, and improve the sustainability performance of their business and value chain. Its AI-powered risk mapping, actionable scorecards, benchmarks, carbon action tools, and insights guide a resilience and improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries.
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