*This blog originally appeared on eBayinc.com
Since our founding, we have helped communities to get up and running and to thrive in the long term. Sustainability is at the core of this purpose, and to this end, we integrate environmental best practices in the communities where we work and live. Our recent commitment to set Science Based Targets, along with the publication of our first Task Force on Climate-Related Financial Disclosures (TCFD) report, help reinforce our increased momentum toward climate transparency and action — as do our latest recognitions such as inclusion on the CDP’s A List and the DJSI’s World and North America Indices.
“We constantly strive to find ways to further strengthen our corporate responsibility goals as we work toward creating a healthier planet for all,” said eBay President and CEO Jamie Iannone. “I am proud of our commitment to ensure a sustainable and resilient future for our global community.”
Indeed, we accelerated this work in 2020. “Over the past year, we have committed to new climate actions in our efforts to understand and lessen our environmental impact as a company,” said eBay’s Chief Sustainability Officer Renee Morin. “We are committed to transparency and welcome these opportunities to share our responsible business practices, driving positive change for the communities in which we live and work.”
Science Based Targets Commitment
We are pleased to announce that we are joining The Science Based Targets initiative, an effort by CDP, the UN Global Compact, the World Resources Institute and the World Wildlife Fund for Nature (WWF) that aims to raise corporate ambition and help businesses pursue bolder climate change solutions.
As a key part of this initiative, science-based targets show companies how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change and as a way to transfer to a low-carbon economy. We will be joining over 1,100 other companies in setting a science-based carbon reduction target in line with keeping a rise in global temperatures to less than 2 degrees Celsius.
Task Force on Climate-Related Financial Disclosures Report
The Task Force on Climate-Related Financial Disclosures (TCFD) was created by the Financial Stability Board — an international organization that monitors and provides recommendations about the global financial system — to provide a consistent set of recommendations for corporations to improve and increase reporting of climate-related financial information. The recommendations, which are structured around corporate governance, business strategy, financial planning, risk management and climate-related metrics and targets, help assess climate-related risks and opportunities. TCFD provides investors with critical information around the financial implications associated with climate change and helps drive capital to companies that are acting responsibly. To better understand eBay’s climate-related risks and opportunities, we adopted the TCFD recommendations and released our first TCFD report, underscoring our commitment to transparency on climate action.
Recent Climate Action Milestones
We are proud that our sustainability and climate change efforts were recognized in November through inclusion in DJSI’s World and North America Indices for corporate sustainability performance for the second year in a row. In December, we achieved inclusion in CDP’s A List for the first time, a milestone achievement in recognition of our company’s commitment to climate action and transparency.
In addition to these recent achievements, we continue to work toward our sustainability goals and strengthen key partnerships, including:
Encouragement of responsible consumption through recommerce, with a goal from 2020 to 2025 of avoiding 3 million metric tons of carbon emissions through the sale of used electronics and apparel on our platform;
Integration of best practices in our facilities’ operations and maintenance to better reduce our environmental footprint. As a member of RE100, we set a 2025 goal to attain 100% renewable energy in our electrical supply at eBay data centers and offices. In 2019, we achieved 64% renewable energy toward that goal;
Partnership with advocacy organizations for climate change, such as the Renewable Energy Buyers Alliance (REBA) and Ceres Business for Innovative Climate and Energy Policy (BICEP) Network, and the We Mean Business Coalition, advocating for climate action and support of the Paris Agreement; and
Leadership of our environmental efforts, with the Board of Directors’ Corporate Governance and Nominating Committee having direct oversight of eBay’s environmental, social and governance strategy, guiding our overall climate approach in tandem with our Chief Sustainability Officer and Impact team.
Learn more about eBay’s sustainability work at ebayinc.com/impact.