Business
ThredUp Releases Third Annual Impact Report
Report outlines company’s business and brand-aligned environmental, social, and governance (ESG) strategy and highlights progress in 2023 OAKLAND,
About this update from Thredup Inc.
[{"type":"text","content":"\nReport outlines company’s business and brand-aligned environmental, social, and governance (ESG) strategy and highlights progress in 2023\n\n\n OAKLAND, Calif.--(BUSINESS WIRE)--\nThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today released its third annual Impact Report. Through transparent reporting and disclosures, the report provides a comprehensive view of ThredUp’s environmental, social, and governance (ESG) profile, outlining the company’s business and brand-aligned ESG strategy and detailing the progress the company made across ESG initiatives in 2023.\n\n\n“ThredUp is on a sustainability journey to make fashion circular, but our impact extends beyond our core mission to our people and our communities as well as how we operate our business,” said James Reinhart, Cofounder and CEO of ThredUp. “Our third annual Impact Report highlights our dedication to continuous improvement and how we’re expanding our positive impact as we continue to reshape the fashion landscape.”\n\n\nThredUp’s 2023 Impact Report includes activities undertaken during the reporting period from January 1, 2023 to December 31, 2023. The company’s ESG strategy focuses on 12 key areas where they can have the most impact as identified through a materiality assessment. Highlights from 2023 include:\n\n\n\nRecirculated 2.2 million secondhand items through ThredUp’s Resale-as-a-Service (RaaS) and closed 2023 with 47 brand clients, including J. Crew, Tommy Hilfiger, Kate Spade, and Athleta.\n\n\n\nDiverted 100% of the items it didn’t resell in its marketplace from landfill through its Rescues and Aftermarket programs.\n\n\n\nReplanted 800 trees through Trees for the Future by buying 103,000 pounds of paper from Community Printers.\n\n\n\nSent 100% of the Clean Out bags it received back from customers to The Azek Company, recycling 111,000 pounds of materials into decking products.\n\n\n\nServed as a founding member of the American Circular Textiles (ACT) policy group, advocating for sustainable textile policy.\n\n\n\n73% of ThredUp’s workforce identifies as a minority, with 73% identifying as female, and 59% identifying as Black or Latinx.\n\n\n\nDonated $64,000 on behalf of the Future Fund, the company’s employee-led social impact organization.\n\n\n\n44% of ThredUp’s Board of Directors id...