Reconomy published its 2024 Annual Sustainability Report reflecting a year of significant progress against its sustainability targets.
As a business focused on advancing circularity and creating a more sustainable, waste free world Reconomy was keen to measure the overall circularity of its own business operations to give it a clearer picture of its impact and to see how it can drive greater circularity progress. In 2024, Reconomy physically managed 2.3 million tonnes of its customers’ material – including returns – and virtually managed a further 4.2 million tonnes of materials such as packaging and batteries, with 45 percent going to closed loop recycling.
This represents a circularity gap of 55 percent, calculated using Reconomy’s own methodology based on the global circularity gap1 of 93.1 percent. Reconomy is actively working to reduce the gap through improved processes, innovative service models and a dedicated ‘Close the Gap’ campaign focused on collaborating with customers and partners across the value chain.
Reconomy also tracks its contribution to shifting the Earth Overshoot Day – the point at which global resource consumption exceeds the Earth’s ability to regenerate those resources. In 2024, Reconomy measured and estimated that its 2024 activities shifted the Earth Overshoot Day by 12 minutes.
Creating environmental and sustainable value – key achievements in 2024
- 13.9 percent absolute (market-based) decrease in Scope 1 and 2 combined emissions from 2023 – an absolute decrease of 6.3 percent from 2021 baseline
- 95.6 percent of global electricity use from renewable sources
- 98.5 percent of all waste managed diverted from landfill
- 36.2 percent increase in electric vehicles (EVs) in the Reconomy fleet from 2023 to 2024
Reconomy achieved a number of awards including an overall EcoVadis Gold certification in 2024, with two brands – Valpak by Reconomy and RLG by Reconomy – receiving platinum scores. EcoVadis is the world’s most trusted business sustainability ratings agency and this certification places Reconomy brands in the top five percent of companies globally for sustainability management. Additionally, Reconomy was awarded the Sustainable Business of the Year award at the Lloyds Bank British Business Excellence Awards and Impact Business of the Year at the City AM Dragon Awards.
Reconomy is committed to leading by example and was an early adopter of the Taskforce on Nature-related Financial Disclosures (TNFD) framework to help measure and disclose nature-related risks and opportunities. In 2024, the Company introduced sustainability-linked pay for executives, ensuring that environmental and social impact is always prioritised in its growth. Reconomy also refreshed its sustainability strategy and strengthened its reporting. Additionally, it conducted its first double materiality assessment, a major step in making sure that the business remains focused on the topics that matter most to its stakeholders.
Published June 2025
