Canopey Climate Report

The purpose of the report is to increase the understanding of what is driving the company’s greenhouse gas emissions, set targets to reduce these emissions, and ensure transparency and traceability on the journey towards net-zero.

Methodology

The emissions or greenhouse gas accounting is based on the Greenhouse Gas (GHG) Protocol’s corporate and value chain standards (ghgprotocol.org).

The GHG Protocol defines emissions in three scopes:

  • Scope 1 – The company's direct emissions from vehicles, combustion, processes, or leakages
  • Scope 2 – The company's indirect emissions from energy purchased and consumed (electricity, heating, cooling).
  • Scope 3 – Greenhouse gas emissions that occur upstream and downstream in the company's value chain, as a consequence of the company's operations. Examples of scope 3 emissions are purchased goods and services, transport, use and disposal of products, business travel and employee commuting.

Total greenhouse gas emissions are quantified in carbon dioxide equivalents (CO2e), which take into consideration that different greenhouse gases (carbon dioxide, nitrogen oxides, methane etc.) have different global warming factors.

Introduction *

reporting year

*

2022

number of employees in the reporting year

*

2

Commitment And Targets *

net zero target year

*

2030

Base year

*

2021

comment on your net zero targets

*

We are already Net Zero but as we scale will look at ways to reduce/improve this even further.

near-term scope 1 target

*

-

target year

*

2030

near-term scope 2 target

*

-

target year

*

2030

near-term scope 3 target

*

100

target year

*

2030

comment on your near-term targets

*

Almost 100% of our emissions are scope 3 at this stage of the company

Own emissions *

scope 1 emissions

scope 1 emissions (metric tons co2e)

*

00

own facilities

*

N/A

own vehicles

*

N/A

own processes

*

N/A

scope 2 emissions

scope 2 emissions (metric tons co2e)

*

00

total energy consumption (kwh)

*

-

renewable energy

*

-

purchased electricity

*

N/A

Renewable electricity (%)

100

purchased steam

*

N/A

Renewable electricity (%)

100

purchased heating

*

N/A

Renewable electricity (%)

101

purchased cooling

*

N/A

Renewable electricity (%)

100

Comment on your energy consumption

*

We don't own premises, facilities, or vehicles. Our team work from a co-working space that runs off a fully circular model, and 100% renewable self-serve energy.

Value chain emissions *

scope 3 emissions

scope 3 emissions (metric tons co2e)

*

13.9

supply chain related - upstream emissions

purchased goods and services

*

13

metric tons CO2e

capital goods

*

N/A

fuel and energy related activities

*

N/A

transportation and distribution (upstream)

*

N/A

waste in operations

*

N/A

business travel

*

0.984

metric tons CO2e

employee commuting

*

N/A

leased assets (upstream)

*

N/A

customer related - downstream emissions

transportation and distribution (downstream)

*

N/A

processing of sold products

*

N/A

use of sold products

*

N/A

end-of-life treatment of products

*

N/A

leased assets (downstream)

*

N/A

franchises

*

N/A

investments

*

N/A

If you have excluded or have not measured any relevant sources of value chain emissions, provide your estimate of the % of your total emissions that is represented by these sources.

*

-

List any sources of emissions excluded:

*

-

describe the calculation methodology and comment on accuracy:

*

Business Carbon Calculator by Normative.

Actions and plans to reduce emissions *

to reduce emissions in line with my commitment, my company has a plan and is taking action:

*

Yes

Scope 1 Actions

own facilities

Yes

If/when we own our own facilities we will ensure we have the same impact that we currently have.

own vehicles

N/A

We won't own our own vehicles.

own processes

Yes

Currently we are pre-trading, so there are no current processes other than the computers we work on and the travel to different events/conferences.

scope 2 actions

purchased electricity

N/A

We don't currently purchase electricity.

purchased steam

N/A

We don't currently purchase steam.

purchased heating

N/A

We don't currently purchase heating.

purchased cooling

N/A

We don't currently purchase cooling.

scope 3 actions

supply chain related (upstream)

purchased good and services

*

Yes

We endeavour to "vet" our providers for goods and services before use.

capital goods

*

N/A

We don't currently have capital goods.

fuel and energy related activities

*

Yes

For any situation where we may be involved in fuel and energy-related activities we take measures to minimise this output.

transportation and distribution (upstream)

*

N/A

We don't currently have transportation and distribution.

waste in operation

*

Yes

The building we operate in has strict waste management schemes.

business travel

*

Yes

We travel by public transport when necessary, and walk/cycle wherever else.

employee commuting

*

Yes

We travel by public transport when necessary, and walk/cycle wherever else.

upstream leased assets

*

N/A

-

customer related (downstream)

transportation and distribution (downstream)

*

N/A

We don't currently have transportation and distribution.

processing of sold products

*

Yes

We don't currently have any goods being sold other than internet services, but when we do we will be at a minimum offsetting our impact. However, our whole model as a company is to measure the impact of the products before they sell on the platform and we therefore can show a quantifiable reduction to the rest of the industry.

use of sold products

*

Yes

Same as above.

end-of-life treatment of products

*

Yes

Same as above.

leased assets (downstream)

*

N/A

-

franchises

*

N/A

-

investments

*

N/A

-

i have asked my suppliers to halve emissions before 2030 and join the un-backed race to zero campaign

*

No

i have communicated my commitment and actions to my business customers and asked them to join the un race to zero

*

Yes

percentage (%) of business customers asked

*

100

Percentage (%) of business customers committed

*

-

Climate Solutions *

Do you classify any of your existing goods and/or services as low carbon products or products that enable a third party to avoid GHG emissions in their value chain, here named “climate solutions”?

*

Yes

What percentage of your total revenue comes from sales of climate solutions?

*

100

Provide descriptions/names of your climate solutions:

*

Canopey quantifies the savings of carbon emissions, water waste, and plastic waste for each of the products sold through the platform compared to the mainstream alternatives. Products which have a quantifiable reduction are listed on the platform.

Methodology used to assess these as climate solutions:

*

Our impact calculator uses compliant data source for studies and assessments based on ISO 14040 and 14044.

Third party which has validated the assessment, if any:

*

N/A

How much of your research and development budget is allocated to climate solutions?

*

-

are you investing in climate and/or nature outside your value chain?

*

Yes

provide details of the project/s you invest in:

*

We are committed to the Million Tree Pledge to plant over 1 million trees before 2030. We use Ecologi for this.

how are they quality secured?

*

For carbon offsets, Ecologi publish retirement certificates each month which evidence how many tonnes of CO2 have been prevented from going into the atmosphere through our funding. Ecologi only buy carbon credits that meet industry-leading carbon standards – primarily the Gold Standard, but also the Verified Carbon Standard. Ecologi's partners are regularly audited by third parties to ensure that the tree planting their community funds is being carried out properly. Read more on quantifying tree impact on their website here: https://ecologi.com/faqs.

which value do they represent (in usd)?

*

N/A

which percentage (%) of your total emissions (scopes 1, 2 & 3) do they represent?

*

-

Management and strategy *

Is responsibility for climate strategy and action clearly allocated at executive & board level? If yes, describe how and to which positions.

*

Yes

Founder/CEO, Thomas comes from a decade in the climate sector working with local government, international NGOs, and startups. Thomas is consistently reviewing the strategy and implementing new and efficient climate actions. We also have the B Corp Mission Lock within our Articles of Association.

Is there board level oversight of climate action? If yes, describe how.

*

Yes

Founder/CEO, Thomas comes from a decade in the climate sector working with local government, international NGOs, and startups. Thomas is consistently reviewing the strategy and implementing new and efficient climate actions. We also have the B Corp Mission Lock within our Articles of Association.

Have you analyzed whether your strategy, business model and product/service portfolio are aligned with the latest climate science? if yes, explain if/how it fulfills this ambition or how it needs to be transformed.

*

Yes

Founder/CEO, Thomas comes from a decade in the climate sector working with local government, international NGOs, and startups. Thomas is consistently reviewing the strategy and implementing new and efficient climate actions. We also have the B Corp Mission Lock within our Articles of Association.

Do you identify, assess and manage climate risks? If yes, describe how.

*

Yes

Canopey doesn't have many climate risks as an online marketplace, and tech-enabled impact calculator & vetting platform, based in the UK. However, the main ones we keep focus on are the risks associated to our supply chains, and then also the end of life cycle of the products sold on the platform.

Have you integrated climate and/or nature into your mission statement? If yes, describe how.

*

Yes

We also have the B Corp Mission Lock within our Articles of Association.

Do you contribute to accelerating climate action in society e.g. by influencing peers, governments, employees, and/or aligning your membership in trade associations with your missions to halve emissions by 2030?

*

Yes

We are members of the Million Tree Pledge, ESG Mark, and Cambridge CleanTech, and have a number of climate commitments as a company. We have active training sessions for our employees. Our whole mission as a company is to educate, inform, and make it more accessible for consumers to shop sustainably. Thomas also sits on the Board of Advisors for the local Chambers of Commerce to advise the 30,000 SMEs in the region to hit Net Zero.

Results, challenges and outlook *

Comment on results:

*

In the next year, we will be adopting a more comprehensive reporting system due to our launch as we become revenue-generating.

Do you face any key challenges in reducing emissions and/or scaling climate solutions? If yes, describe how.

*

Yes

As an online marketplace which doesn't sell its own products, stock products, or deliver products, we have to be rigorous in what counts as our emissions vs our partners' emissions. Making sure they fall into the correct scope.

What support would you need to tackle these challenges?

*

Specific advisors for online marketplace sustainability will be brought on board in the near future.

Version 1.1.0

Log in

Log in

Log in

Forgot password?

Please enter your email address. You will receive a link to create a new password via email.