Carousell Group’s inaugural Circular Economy Impact Report, released on December 8, 2023, reveals that choosing secondhand items over new ones is a more environmentally conscious choice. The report quantifies Avoided Carbon Emissions, highlighting the platform’s commitment to sustainability and the positive impact of secondhand transactions in reducing carbon footprint.
14 December 2023 – Carousell Group, the premier multi-category platform for secondhand goods in Greater Southeast Asia, unveiled its inaugural Circular Economy Impact Report on December 8, 2023. The groundbreaking report, a first in the realm of e-commerce and recommerce marketplaces in Southeast Asia, demonstrates that opting for secondhand items over new ones is a more environmentally conscious choice, showcasing the platform’s commitment to sustainability.
The launch event, held at Carousell Campus, the Group’s regional headquarters, was graced by Mr. Tharman Shanmugaratnam, President of the Republic of Singapore. Notable industry partners and investors attended the event, where Carousell Group’s Chief Strategy Officer, Mr. Gaurav Bhasin, delivered a keynote presentation on key findings from the report.
Key highlights from the Circular Economy Impact Report include:
- Carousell Group’s user community prevented the emission of 116,577 tonnes of carbon in four key categories (Fashion & Luxury, Electronics, Furniture & Home Living, and Hobbies & Toys) in 2022.
- This is equivalent to approximately 76% of the total trees in Singapore absorbing CO2 annually.
- Nearly 56% of transactions on the Carousell marketplace replaced the purchase of a new item.
- Across the six key markets of the Carousell marketplace, 55% of surveyed users reported an increase in buying and selling secondhand items in 2022 compared to 2021.
Mr. Gaurav Bhasin, Chief Strategy Officer of Carousell Group, emphasized the platform’s pivotal role in advancing the circular economy within the Greater Southeast Asia region. He highlighted the responsibility to lead by example and transparently measure the positive impact of choosing secondhand products. Carousell Group’s commitment to sustainability extends to calculating its carbon footprint, showcasing the company’s dedication to environmentally responsible practices.
To assess its impact, Carousell partnered with Vaayu, a European climate tech company leveraging AI and machine learning technology with a Life Cycle Assessment (LCA) database of over 600,000 product data points. While the report initially covers four goods categories, Carousell Group aims to progressively incorporate all remaining categories and integrate other group brands in the coming years.
Ms. Namrata Sandhu, Co-founder and CEO of Vaayu, emphasized the critical role of circular business models, such as recommerce, in reducing retail’s impact on the planet. The report not only quantifies Avoided Emissions but also underscores the significance of individual transactions in contributing to the overall circular economy impact.
As part of Carousell Group’s commitment to advancing the future of secondhand through recommerce, the platform has introduced various recommerce programs and features across multiple platforms and markets in the past year. Mr. Quek Siu Rui, Co-founder and CEO of Carousell Group, reiterated the mission to make secondhand the first choice for everyone, promoting a greener world without compromising on enjoyment.
