Valuence Announces Environmental Footprint and Avoided Emissions for Fiscal 2021! Avoided CO2 Emissions Equivalent to 900 Pyramids in Volume!
Fiscal 2021 Avoided CO2 Emissions Equivalent to 900 Pyramids in VolumeSince its founding in 2011, luxury brand goods reuse has been at the core of the Valuence Group business, and the group has continued to connect unneeded items with new owners, encouraging more people to enjoy the value of items. As a leader in the industry in Japan, the Valuence Group developed a proprietary mechanism using life cycle assessment (LCA) to spread the adoption of reuse: Valuence Resale Impact Calculator. This calculator outputs Resale Impact stemming from an entity’s environmental footprint* and avoided emissions. Calculating and disclosing in May 2021 the group’s avoided CO2 emissions, water consumption, energy consumption, and avoided PM2.5 emissions related to merchandise was the first such initiative in the reuse industry in Japan (*1).
The company has recently calculated (*2) the environmental footprint of products sold in fiscal 2021 (September 2020 to August 2021).
Calculations determined that the group contributed to the reduction of 4,315,484 tons of avoided CO2 emissions, 221,266,400m3 of water consumption, 17,756,116 GJ of energy, and 1,835,900t tons of PM2.5 emissions, an air pollutant. The 4,315,484 tons of avoided CO2 emissions is equivalent to the volume of about 900 pyramids (*3), or the amount of carbon dioxide absorbed annually by 308 million cedar trees (*4).
The Valuence Group will continue to accelerate the transition to circular economies by expanding its reuse business, which finds value in unneeded items repurposed into items embraced by the next owner.
*1: According to Valuence research
*2: Luxury merchandise (watches, bags, jewelry, apparel, accessories) handled by the Group are classified into 17 categories according to their material composition, with data from representative merchandise in each category used to calculate environmental footprint via Gabi, an LCA software tool.
*3: Calculated using the volume of the Great Pyramid of Giza (138.5m high), of the largest pyramids in Egypt. Source: International Carbon Bank & Exchange. https://www.icbe.com
*4 Source: Kanto Regional Forest Office. Carbon Dioxide Absorption Capacity of Forests: https://www.rinya.maff.go.jp/kanto/ibaraki/knowledge/breathing.html
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